The Global Negative Pressure Wound Therapy (NPWT) Devices Market Growth Accelerated By Innovation In NPWT Devices

Global Negative Pressure Wound Therapy (NPWT) Devices Market Size

Negative pressure wound therapy (NPWT) devices are used for removal of exudate from acute and chronic wounds, enhancing blood flow and stimulating healing in the surrounding healthy tissues. NPWT devices are lightweight, portable and easy to use. They help manage wound exudate and promote a moist wound-healing environment essential for wound repair.

The global Negative Pressure Wound Therapy (NPWT) Devices Market is estimated to be valued at US$ 19051.6 Mn  in 2023 and is expected to exhibit a CAGR of 3.6 % over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing popularity of single-use NPWT devices is one of the major trends witnessed in the global NPWT devices market. Single-use NPWT devices significantly minimizes the risk of healthcare-associated infections as they are used only once, eliminating the need for cleaning and disinfecting and thereby reducing costs related to maintenance. In addition, they are portable and easy to use which is driving their adoption. Various companies are focusing on innovations and launching single-use and disposable NPWT devices to capitalize on the opportunities presented by this growing demand.

Segment Analysis
The global negative pressure wound therapy (NPWT) devices market is segmented on the basis of product, wound type, end user and region. By product, the market is divided into single-use NPWT devices and conventional NPWT devices. The single-use NPWT devices segment is dominating as they are more affordable and convenient than conventional NPWT devices. By wound type, the market is classified into chronic wounds and acute wounds. Chronic wounds segment dominating as they require long term treatment and negative pressure wound therapy helps in effective healing of such wounds.

Key Takeaways
Global Negative Pressure Wound Therapy (NPWT) Devices Market Size is expected to witness high growth over the forecast period. The global Negative Pressure Wound Therapy (NPWT) Devices Market is estimated to be valued at US$ 19051.6 Mn  in 2023 and is expected to exhibit a CAGR of 3.6 % over the forecast period 2024 to 2031.

Regional analysis:
North America is currently the dominant region in the negative pressure wound therapy (NPWT) devices market. This is attributed to factors such as high prevalence of chronic diseases, growing geriatric population, rising healthcare expenditure and availability of advanced healthcare facilities. However, Asia Pacific region is expected to grow at the fastest rate during the forecast period owing to increasing healthcare awareness, improving healthcare infrastructure and rising medical tourism industry.

Key players:
Key players operating in the negative pressure wound therapy (NPWT) devices market are Abbott, Smith & Nephew, ConvaTec, Molnlycke Health Care AB, Cardinal Health, Coloplast Corp, Paul Hartmann AG, Medela and Talley Group. Abbott and Smith & Nephew are the leading players owing to their diverse product portfolio and strong global presence.

 

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