The global Negative Pressure Wound Therapy Market size is anticipated to reach a value of USD 3.8 billion by 2030,
according to a new report by Grand View Research, Inc. The market is expected
to expand at a CAGR of 6.7% from 2022 to 2030. Increasing awareness in the
developing regions pertaining to advanced wound care is providing a significant
opportunity to the key market players to cater to the unmet needs of the target
population. The primary driver associated with this market is the
cost-effectiveness of single-use Negative Pressure Wound Therapy (NPWT)
devices.
Major companies are also focusing on education of
reimbursement coverage in such regions to further increase the affordability of
these devices. However, the current reimbursement policies mostly cover
conventional NPWT devices owing to their high cost. Furthermore, the geriatric
population is also contributing to a great extent toward increasing the
prevalence of chronic diseases. Increasing age is one of the high-risk factors
leading to the development of chronic diseases such as atherosclerosis, which
is one of the prime cardiovascular disorders prevalent in the geriatric
population.
NPWT is one of the commonly accepted therapies
employed for the treatment of arterial ulcers, which is one of the major
complications of atherosclerosis. Around 50% of the people worldwide are
exposed to fire-related traumas, among which, 90% of the cases occur in low to
moderate-income countries. Thus, the rising incidence of traumatic events is
expected to engender a high demand for negative pressure wound therapy
products.
The COVID-19 pandemic significantly impacted the
global NPTW market. Due to the restrictions imposed by regulatory authorities
to minimize the spread of the virus, people have been restricted to their
homes, resulting in a significant decrease in the incidences causing wounds to
people. This has had a negative effect on the market as the demand for wound
therapy significantly decreased. Although during the pandemic, diabetic wound
therapy was continued due to its severity, other segments suffered a slight
impact.
Related Press Release@ Negative Pressure Wound Therapy Market Report
Negative Pressure Wound Therapy
Market Report Highlights
- Conventional NPWT devices dominated the product segment in 2021
owing to their high cost and availability of favorable reimbursement
policies
- Single-use negative pressure wound therapy devices segment is
considered to be the fastest growing segment over the forecast period
- Pressure ulcers held the largest revenue share in 2021 owing to the
increasing adoption of NPWT for the treatment of Pressure ulcers
- The home care setting is anticipated to witness an attractive CAGR
over the forecast period owing to the emerging applicability of single-use
NPWT devices in the homecare setting and the cost-effectiveness of the
therapy
- North America dominated the market in 2021. This is primarily due
to the increased usage of the targeted therapy in this region, which has led
to a reduction in hospital stays and contributed to enhanced quality of
patient lives
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View Research, Inc. is a U.S. based market research and consulting company,
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company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
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