NPWT Market Growth Projected at 8% CAGR Through 2029
Effectiveness of negative pressure wound therapy (NPWT) in treating acute and chronic wounds is a key factor driving its adoption across hospitals, clinics, and homecare settings. The use of NPWT devices in managing closed incisions, where the risk of wound breakdown is higher, is also fuelling the growth of the negative pressure wound therapy market, especially in North America and Western Europe.
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Development of safe and highly-effective negative pressure wound therapy devices has helped address concerns related to potential risks, leading to greater adoption across end-use sectors. Decline in the number of adverse reaction and product recalls has led to increased confidence on the safe use of NWPT.
FMI-a well-established name in the market research domain – forecasts that, the NPWT market will experience a major upturn post 2025, reaching a valuation of US$ 3.2 Bn by 2029.
Key Takeaways of NPWT Market Study
- Single-use disposable negative pressure wound therapy devices, under product, are expected to exhibit a CAGR of 8% during the forecast period.
- The U.S. is anticipated to dominate the global negative pressure wound therapy market and account for over 86% share of the North America NPWT market.
- Hospitals and home care settings segments are expected to dominate the negative pressure wound therapy market during the forecast period, owing to significant adoption of NPWT systems.
- Companies are focusing on collaborating with established research centres and other manufacturers to develop products complaint with regulations across the globe that can help in the treatment of chronic disorders.
“Increasing awareness among practitioners and patients about the better response rate of disposable negative pressure wound therapy devices is expected to increase revenue of the NPWT market over the coming years.”
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Manufacturer of NPWT Devices Focusing on Launch of Portable and Disposable Devices
Over the last few years, leading manufacturer have been focusing on introducing portable and disposable NPWT devices, targeting a range of consumers, including hospitals, homecare settings, etc. Presently, a majority of NPWT devices are used in the U.S. and Europe. However, the demand for portable and disposable NPWT devices is gaining traction in APAC, Eastern Europe, and Latin America. There has been growing interest in using portable and disposable NPWT devices on closed incisions after a surgical procedure in order to inhibit potential surgical site infections (SSIs) and other wound complications in high-risk patients.
Examples of some disposable NPWT devices from top players include the V.A.C.Via Therapy System, Prevena Incision Management System (Acelity), PICO (Smith and Nephew PLC.), AVELLE Negative Pressure Wound Therapy System (ConvaTec Inc.)
Want more insights?
A new study from Future Market Insights provides detailed information on the evolution of the negative pressure wound therapy market from 2014-2018, and presents demand projections for 2019-2029, on the basis of product (standalone NPWT devices, single-use disposable NPWT devices, portable NPWT devices, and NPWT accessories), and end user (hospitals, clinics, and home care settings), across seven prominent regions.
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