Negative Pressure Wound Therapy Market by Product, End-user, and Geography - Forecast and Analysis 2020-2024

The negative pressure wound therapy market size has the potential to grow by USD 1.26 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by product (conventional NPWT and single-use NPWT), end-user (hospitals and clinics, ASCs, home healthcare), and geography (North America, APAC, Europe, South America, and MEA). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including 3M Co., Cardinal Health Inc., Carilex Medical, ConvaTec Inc., DeRoyal Industries Inc., Genadyne Biotechnologies Inc., Medela AG, Mölnlycke Health Care AB, Smith & Nephew Plc, and Triage Meditech Pvt. Ltd.

Market Overview

Market Competitive Analysis

The market is concentrated. Genadyne Biotechnologies Inc., Medela AG, Mölnlycke Health Care AB, Smith & Nephew Plc, and Triage Meditech Pvt. Ltd. are some of the major market participants. Although the increasing aging population will offer immense growth opportunities, the shortage of resources for wound care treatments will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this negative pressure wound therapy market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this negative pressure wound therapy market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• 3M Co.
• Cardinal Health Inc.
• Carilex Medical
• ConvaTec Inc.
• DeRoyal Industries Inc.
• Genadyne Biotechnologies Inc.
• Medela AG
• Mölnlycke Health Care AB
• Smith & Nephew Plc
• Triage Meditech Pvt. Ltd.

Negative Pressure Wound Therapy Market: Segmentation by Region

North America was the largest negative pressure wound therapy market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increasing prevalence of acute and chronic wounds, a strong presence of key vendors, and new product launches will significantly influence negative pressure wound therapy market growth in this region.

Over 47% of the market’s growth will originate from North America during the forecast period. The US is the key market for negative pressure wound therapy in North America. Market growth in this region will be slower than the growth of the market in Europe.

Negative Pressure Wound Therapy Market: Segmentation by Product

Conventional NPWT systems as durable medical equipment (DME) and provide coverage for certain wounds and ulcers, increasing their demand.

The negative pressure wound therapy market share growth by the conventional NPWT segment will be faster than the growth of the market by the single-use NPWT segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the negative pressure wound therapy market size.

Negative Pressure Wound Therapy Market: Key Drivers and Trends

The increasing aging population is one of the key factors fueling negative pressure wound therapy market growth. Advances in healthcare technology and the availability of highly effective treatment options have led to the rise in life expectancy, resulting in a growing aging population. However, the aging population registers a high incidence of acute and chronic wounds, especially venous leg ulcers and pressure ulcers. Moreover, this aging population also records a higher rate of surgical procedures than the general population. The elderly are also more likely to have delayed inflammatory response, which can negatively affect the wound healing process. Hence, the elderly are generally the significant end-users of wound care services, which is likely to benefit the growth of the global negative pressure wound therapy market.

The increasing number of negative pressure wound therapy devices acquired through leasing or renting is one of the key negative pressure wound therapy market trends. Conventional negative pressure wound therapy devices are capital-intensive and costly. Moreover, end-users purchasing these devices also need to bear additional disposable costs, including dressings and canisters. On the contrary, renting or leasing a conventional negative pressure wound therapy device becomes less expensive and is affordable by hospitals and clinics. These factors are likely to increase the demand for negative pressure wound therapy devices, contributing to negative pressure wound therapy market growth. As a result, the market will register a CAGR of about 8% during the forecast period.

Negative Pressure Wound Therapy Market: Key Highlights of the Report for the Forecast Period 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive negative pressure wound therapy market growth during the next five years
• Precise estimation of the negative pressure wound therapy market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the negative pressure wound therapy market industry across North America, APAC, Europe, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of negative pressure wound therapy market vendors