Negative Pressure Wound Therapy Market Size to Reach USD 4.27 Billion in 2030| Emergen Research

VANCOUVER, BC, Dec. 15, 2022 /PRNewswire/ -- The negative pressure wound therapy market size reached USD 2.59 Billion in 2021 and is expected to register a CAGR of 5.7% during the forecast period, according to latest analysis by Emergen Research. Increasing demand for negative pressure wound therapy devices in the field of advanced wound care, growing patient awareness towards the accessibility of cost-effective wound care therapy devices as well as growing market demand for NPWT devices for surgical site infections (SSIs) as well as skin reconstruction are some key factors driving negative pressure wound therapy market revenue growth.

Drivers:

Demand for negative pressure wound therapy devices has significantly increased over the years due to rising adoption of advanced wound care management as well as growing patient awareness towards accessibility of cost-effective wound care therapy devices. Negative pressure wound therapy is a foundation of advanced wound care and has proven to be very effective for both complex acute and chronic wounds. Negative pressure wound therapy, when correctly applied by skilled healthcare practitioners, is a high-yield supplementary therapy for effectively managing wounds, promoting improved wound healing, and restoring skin integrity in affected individuals.

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It has several clinical uses in a variety of fields, including dermatology, endocrinology, tissue viability, vascular, orthopedic, and plastic surgery. It has also gained popularity in the care, management, and treatment of numerous acute and chronic wounds. In orthopedic surgery, NPWTi has now been widely used as an adjuvant wound therapy method for all types of acute and chronic wounds, including pressure injuries, diabetic foot ulcers, bone tendon or internal fixation exposed wounds, and acute or chronic infected wounds.

Commercially available NPWT systems offer a variety of dressing choices that are manufactured and designed for certain wound applications. As a result, strategic initiatives and partnerships between major market companies towards offering negative pressure wound therapy treatments in cost-effective manner are promoting market's revenue growth.

For instance, on 3 November 2022, InfuSystem Holdings, Inc. and Sanara MedTech Inc. announced the development of a partnership, SI Wound Care, LLC, with the goal of providing a comprehensive wound care solution aimed at enhancing patient outcomes, reducing healthcare costs, and boosting patient and provider satisfaction. With the help of the agreement, InfuSystem will likely be able to provide cutting-edge goods like Cork Medical, LLC's negative pressure wound therapy equipment and supplies and Sanara's advanced wound care product line and related services to new clients.

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Restraints:

There are some issues and difficulties facing the negative pressure wound therapy industry. The placement of the wound on the body presents some of the most difficult hurdles to NPWT. Consideration must be given to the placement of the connection to the device and the tubing when treating peristomal wounds, genitalia wounds, facial wounds, and wounds on weight-bearing surfaces.

Allowing patients to lie or walk on NPWT components might lead to ulcerations from improper tubing insertion. Additionally, patients using NPWT may experience more skin blistering than those receiving normal dressing treatment (poor certainty evidence). Other secondary outcomes with the majority of the evidence having low or very low certainty show no discernible differences, which is hindering the growth of negative pressure wound therapy market.

Growth Projections:

The negative pressure wound therapy market is expected to register a CAGR of 5.7% over the forecast period and revenue is projected to increase from USD 2.59 Billion in 2021 to USD 4.27 Billion in 2030. Increasing spending in emerging markets is expected to support revenue growth of the market.

Current Trends and Innovations:

The negative pressure wound therapy industry is undergoing gradual change as a result of onerous regulatory requirements as well as growing market demand for NPWT devices for surgical site infections (SSIs) as well as skin reconstruction. Negative Pressure Wound Therapy (NPWT) is becoming a popular method of skin transplant dressing and fixation. Compared to standard NPWT, Negative Pressure Wound Therapy with Instillation and Dwelling (NPWTi-d) provides even better-wound care. NPWTi-d is suited for use in contaminated wounds due to its continuous wound cleansing, which lowers the risk of infection and skin graft loss from infection.

Recently, NPWT has also been modified for the supplementary management of closed wounds, including skin grafts and closed surgical incisions. This attempts to prevent cuts in high-risk locations of surgical incision, lessen edema development and promote recovery. Widespread adoption of the method has led to its frequent use for open wounds like open ulcers, fractures, and infected wounds. As a result, the major market companies are modernizing their wound care technology to include a negative pressure wound care therapy option, which is promoting the market's growth.

For instance, on 5 August 2022, 3M Health Care announced advancements to enhance the delivery of certain wound care technologies by delivering Veraflo negative pressure wound therapy. With the installation of Veraflo negative pressure wound therapy, the new products make it easier for doctors to give care while also facilitating faster, less painful, and easier dressing changes for patients.

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Strategic Initiatives:

Major companies included in the market report are 3M Company, Talley Group Ltd., Smith+Nephew, Cardinal Health, Inc., Devon Medical Products, Mölnlycke Health Care AB, DeRoyal Industries, Inc., Medela AG, ConvaTec Inc., and Paul Hartmann AG.

·  On 24 January 2022, Smith+Nephew announced new indications for PICO 7 and PICO 14 Single Use Negative Pressure Wound Therapy (sNPWT) Systems. In addition, FDA approved PICO 7Y System, which simultaneously treats two wounds, to help lower incidence of superficial incisional SSIs, post-operative seroma, and dehiscence for high-risk patients with Class I wounds. It has been shown that PICO System can help to lower the risk of surgical site infection for up to 7 days.

Scope of Research

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Emergen Research has segmented negative pressure wound therapy market on the basis of products type, wound type, end-use, and region:

• Product Type Outlook (Revenue, USD Billion; 2019-2030)
• Conventional NPWT
• Single-Use NPWT
• Accessories
• Wound Type Outlook (Revenue, USD Billion; 2019-2030)
• Diabetic Foot Ulcer
• Pressure Ulcer
• Venous Leg Ulcer
• End-Use Outlook (Revenue, USD Billion; 2019-2030)
• Hospitals & Clinics
• Homecare
• Ambulatory Surgical Centers

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