Negative Pressure Wound Therapy Market to hit a valuation of US$ 10.8 Billion by 2033 | Future Market Insights, Inc.

USA leads North American Negative Pressure Wound Therapy Market, boosted by advanced healthcare and NPWT technology.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, November 30, 2023 /EINPresswire.com/ -- The global negative pressure wound therapy market is estimated to be worth US$ 6.5 billion in 2023 and is projected to be valued at US$ 10.8 billion by 2033. Between 2023 and 2033, the market is expected to register a growth rate of 5.3%. The growing trend towards home-based care for chronic wound management owing to the availability of user-friendly devices become home use expands the negative pressure wound therapy market.

Increased awareness among healthcare professionals of the benefits of negative pressure wound therapy for wound healing and increased education and awareness campaigns are likely to drive adoption rates. With the increasing demand for cost-effective solutions in the healthcare industry, negative pressure wound therapy is increasingly seen as a viable option for wound management due to its potential to reduce hospital stays, complications, and overall treatment costs.

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With the global rise in obesity rates and the risk of chronic wounds and complications, there is an increased need for advanced wound care solutions like negative pressure wound therapy. Innovations in wound dressings and materials used in NPWT systems, including antimicrobial dressings and biocompatible materials, can enhance therapy outcomes and drive market growth. Negative pressure wound therapy is increasingly being explored in pediatric and neonatal patients with complex wounds, providing a new avenue for market expansion.

Key Takeaways:

From 2018 to 2022, the negative pressure wound therapy market demand expanded at a CAGR of 3.5%

Based on product type, the standalone NPWT devices segment is expected to rise at a CAGR of 3.5%.

Global negative pressure wound therapy demand in the United Kingdom is predicted to account for a CAGR of 5.1% from 2023 to 2033.

In the United States, the market is expected to account for a CAGR of 5.2% between 2023 and 2033.

China is projected to expand by a value CAGR of 4.9% between 2023 and 2033.

By 2033, India's negative pressure wound therapy market is anticipated to record a CAGR of 4.8% during the forecast period.

“The increasing demand for sustainable and environmentally friendly negative pressure wound therapy devices is anticipated to drive the market growth during the forecast period," opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).

Competitive Landscape:

Leading negative pressure wound therapy device manufacturers increasingly focus on expanding their product offerings to strengthen their customer base. They are adopting growth strategies such as new product launches, partnerships, acquisitions, mergers, collaborations, etc., to expand their global footprint and gain a competitive edge in the global negative pressure wound therapy market. For instance,

Smith & Nephew is a well-established player in the wound care industry, offering NPWT systems like the PICO™ and Renasys™. The company has focused on developing compact, portable NPWT devices to improve patient mobility.

Acelity, acquired by 3M Healthcare, is known for its V.A.C. Therapy systems, one of the pioneering brands in NPWT. They have a strong presence in the market and continue to innovate with their NPWT technologies.

Key Companies Profiled:

Cardinal Health
Mölnlycke Health Care
Acelity L.P. Inc. (3M)
Lohmann & Rauscher GmbH & Co. KG
Smith & Nephew
ConvaTec Inc.
DeRoyal Industries, Inc.
HARTMANN, Medela LLC
Haromed Bvba (Belgium)
Carilex Medical GmbH.
Genadyne Biotechnologies, Inc.
Cork Medical, LLC
Alleva Medical Ltd. (Devon Medical Products
Argentum Medical, LLC

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Negative Pressure Wound Therapy Market by Category:

By Product Type:

Standalone NPWT Devices
Direct Sales
Rental Sales
Product
Services
Portable NPWT Devices
Direct Sales
Rental Sales
Product
Services
Single-Use NPWT Devices
Direct Sales
Rental Sales
Product
Services
NPWT Dressings
Foam Dressings
Hydrocolloid Dressings
Standard Gauze Dressings
NPWT Accessories

By Indication:

Diabetic Foot Ulcers
Pressure Ulcers
Venous Leg Ulcers
Post-Surgical Ulcers & Open Wound
Burn Wounds
Other Wounds

By End-User:

Hospitals
Acute Care Centers
Community Hospitals
Ambulatory Surgical Centers
Trauma Care Centers
Specialty Clinics
Home Care Settings
Long-Term Care Centers
Skilled Nursing Facilities

By Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia and Pacific
East Asia
Middle East and Africa
Middle East and Africa

Authored By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Explore FMI’s related ongoing Coverage on Healthcare Market Insights Domain:

Advance Wound Dressing Market Size: The size was valued at US$ 8,978.0 million in 2020, and is projected to reach US$ 14,190.5 million by 2030, registering a CAGR of 4.8%

Digital Wound Measurement Devices Market Share: The global market is likely to reach US$ 2,266.6 million in 2023. The market is expected to be worth US$ 3,293.3 million by 2033, expanding at 3.8% CAGR over the forecast period.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Ankush Nikam
Future Market Insights, Inc.
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