Negative Pressure Wound Therapy Devices Market Growth Drivers and Forecast by 2030

[Research Report] The negative pressure wound therapy devices market size is projected to grow from US$ 2.03 billion in 2022 to US$ 3.15 billion by 2030; the market is estimated to record a CAGR of 5.6% during 2022–2030.

Market Insights and Analyst View:

Negative pressure wound therapy, or NPWT, was first applied in clinical settings in the early 1990s and has since gained widespread acceptance as a treatment option for complex wounds for both inpatient and outpatient. NPWT has been integrated into hospital-based outpatient facilities. Hospitals have been treating patients with the help of NPWT devices for a long time and offer the best conditions for the treatments, including sterile procedure rooms, optional anesthesia, quick access to analgesics, trained staff, and continuous patient observation. NPWT was first used for treating postsurgical wounds in outpatient facilities outside of hospitals, and then it was practiced to treat complex and difficult-to-heal wounds. Due to variations in health care systems and payment for services rendered in this context, there are significant national differences in the application of NPWT in home care settings.

The use of single-use simplified NPWT devices has significantly increased. This development acknowledges the advantages of having NPWT "off-the-shelf" and at a lower cost base. It encompasses electrically and mechanically powered devices. Single use devices widely preferred to lower the complications such as dehiscence or infection when applied over closed surgical incisions. Compared to the original plans for devices when they were first introduced into clinics, the indications of what kinds of wounds can be treated with NPWT have already expanded due to technological advancements in the field. For instance, new wound types (small, surgical wounds) can now be treated in new environments (such as short-term home care) owing to the availability of smaller, single-use disposable pumps.  Furthermore, the previously mentioned novel interventions in progress could potentially augment the heightened assimilation.

Growth Drivers:

Favorable Reimbursement Policies Drives Negative Pressure Wound Therapy Devices Market Growth

One benefit of device reimbursement for negative pressure wound therapy (NPWT) is that it makes advanced wound care more accessible. This successful treatment for patients with complex wounds is encouraged when healthcare providers receive reimbursement for NPWT devices. The use of NPWT devices can prevent complications related to chronic wounds, resulting in better patient outcomes, faster healing, and possibly lower overall healthcare costs. Reimbursement encourages healthcare facilities to purchase and implement these technologies, which is advantageous for patients and the healthcare system.

CPT
97605	Negative pressure wound therapy (e.g., vacuum assisted drainage collection), utilizing durable medical equipment (DME), including topical application(s), wound assessment, and instruction(s) for ongoing care, per session; total wound(s) surface area less than or equal to 50 square centimeters
97606	Negative pressure wound therapy (e.g., vacuum assisted drainage collection), utilizing durable medical equipment (DME), including topical application(s), wound assessment, and instruction(s) for ongoing care, per session; total wound(s) surface area greater than 50 square centimeters
97607	Negative pressure wound therapy (e.g., vacuum assisted drainage collection), utilizing disposable, non-durable medical equipment including provision of exudate management collection system, topical application(s), wound assessment, Page 6 of 7 Medicare MP192 and instructions for ongoing care, per session; total wound(s) surface area less than or equal to 50 square centimeters
97608	Negative pressure wound therapy (e.g., vacuum assisted drainage collection), utilizing disposable, non-durable medical equipment including provision of exudate management collection system, topical application(s), wound assessment, and instructions for ongoing care, per session; total wound(s) surface area greater than 50 square centimeters
HCPCS
A6550	Wound care set for negative pressure wound therapy electrical pump includes all supplies and accessories.
A7000	Canister, disposable, used with suction pump, each
A9270	Non-covered item or service
A9272	Wound suction, disposable, includes dressing, all accessories and components, any type, each
E2402	Negative pressure wound therapy electrical pump, stationary or portable

Source: Cardinal Health

Thus, favorable reimbursement policies boost the negative pressure wound therapy devices market growth.

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Negative Pressure Wound Therapy Devices Market: Strategic Insights

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Report Segmentation and Scope:

The “negative pressure wound therapy devices market analysis” has been carried out by considering the product, wound type, and end user segments.

Segmental Analysis:

By product, the negative pressure wound therapy devices market is bifurcated into reusable NPWT device and single-use NPWT device. The reusable NPWT device segment held a larger market share in 2022 and is anticipated to register a CAGR of 5.8% during the forecast period.

Reusable devices are more economical as they remove the necessity of constantly purchasing single-use items this in turn to drive the growth of segment

The negative pressure wound therapy devices market, by wound type, is segmented into diabetic foot ulcer, pressure ulcer, venous leg ulcers, and others. The pressure ulcer segment held the largest market share in 2022 and is anticipated to register the highest CAGR of 6.0% during the forecast period.

The negative pressure wound therapy devices market, by end user, is categorized into hospitals, homecare, and others. The hospitals segment held the largest market share in 2022 and is anticipated to register the highest CAGR of 5.9% during the forecast period.

Regional Analysis:

The scope of the global negative pressure wound therapy devices market report includes the assessment of the market performance in North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2022, North America held the largest negative pressure wound therapy devices market share. The aging population in Canada raises the incidence of chronic wounds, which fuels demand for cutting-edge wound care products such as NPWT devices. There is a growing need for efficient wound management treatments due to the increasing prevalence of chronic diseases, including diabetes and obesity, which propels the risk of chronic wounds. The Canadian NPWT device market is dynamic and expanding due to these factors.

Future Opportunities:

A high prevalence of chronic wounds is frequently reported in developing nations owing to factors such as an increase in the incidence of contagious diseases and inadequate healthcare infrastructure. Unmet medical needs can be addressed by NPWT devices, as they can provide advanced wound care solutions. According to an article published in the International Society for Pharmacoeconomics and Outcomes Research, Inc (ISPOR), 15% of diabetics in India experience diabetic foot ulcers (DFUs) at some point in their lives. Thus, rising demand for NPWT devices in developing economies is likely to create ample opportunities for the negative pressure wound therapy devices market during the forecast period.

Negative Pressure Wound Therapy Devices Market Regional Insights

The regional trends and factors influencing the Negative Pressure Wound Therapy Devices Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Negative Pressure Wound Therapy Devices Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Negative Pressure Wound Therapy Devices Market Report Scope

Negative Pressure Wound Therapy Devices Market Players Density: Understanding Its Impact on Business Dynamics

The Negative Pressure Wound Therapy Devices Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Negative Pressure Wound Therapy Devices Market are:

1. 3M
2. Smith+Nephew
3. DeRoyal Industries, Inc.
4. Nexa Medical Limited
5. Lion Street Medical, LLC (Pensar Medical LLC)

Disclaimer: The companies listed above are not ranked in any particular order.

Competitive Landscape and Key Companies:

The negative pressure wound therapy devices market forecast can help stakeholders in this marketplace plan their growth strategies. 3M; Smith+Nephew; DeRoyal Industries, Inc.; Nexa Medical Limited; Lion Street Medical, LLC (Pensar Medical LLC); ConvaTec Inc.; Cardinal Health, Inc.; Mölnlycke Health Care AB; PAUL HARTMANN; and Medela AG are among the prominent companies profiled in the negative pressure wound therapy devices market report. These companies focus on developing new technologies, upgrading existing products, and expanding their geographic presence to meet the growing consumer demand worldwide.