Negative Pressure Wound Therapy Market: By Product (Conventional NPWT Devices, Disposable NPWT Devices, NPWT Accessories), By Wound Type (Burns and Surgical & Open Wounds, Pressure Ulcers, Diabetic Foot Ulcers, Venous Leg Ulcers, Traumatic Wounds), By End-User (Hospitals, Home Care Settings, Other End Users) and Geography  

Negative Pressure Wound Therapy Market size was valued at USD 2.6 billion in 2022 and is poised to grow at a CAGR of 6.2% from 2023 - 2029. One of the crucial factors propelling the expansion of the negative pressure wound therapy market is the rising prevalence of diabetes and chronic diseases worldwide. The majority of diabetes has significantly increased over time, and it is predicted that this trend will continue in the years to come. The International Diabetes Federation predicts that by 2045, there will be 783 million individuals worldwide who have diabetes. Furthermore, the size of the global market for negative pressure wound therapy will therefore increase over the following years as lower economies become more aware of the efficacy of modern wound care techniques like negative pressure wound therapy technology. Exudate collection aids in wound treatment by promoting wound healing and avoiding infection. Canisters are not necessary for single-use NPWT devices, in any case. When used in negative pressure wound care, these devices directly evaporate the exudate with the aid of specially-made wound dressings. Additionally, these tools are utilized to treat a variety of wounds, including both acute and chronic injuries. Also, incisions, burns, and trauma wounds are included among the chronic wounds. At the same time, acute wounds might be anything from venous leg ulcers to diabetic foot ulcers. These devices are employed in various medical settings, including ambulatory surgical centers, hospitals, and clinics. During the projection period, technological developments in NPWT devices should boost the market value for these products. Technological advancement in wound care devices has increased during the last few years. Introducing cutting-edge and novel negative pressure wound care devices is a priority for major industry players.

Negative Pressure Wound Therapy Market Key Developments:

• In March 2020, Smith+Nephew launched its new PICO 14 Single Use Negative Pressure Wound Therapy System. It has a pump duration of up to 14 days. The pump is based on previous PICO sNPWT variants' innovations and advantages. The pump is so enhanced that it requires less user intervention.
• In October 2020, Cork Medical launched two negative-pressure wound therapy (NPWT) devices: Nisus Touch and Nisus One. These devices offer a powerful flow rate to tackle tougher wounds and better precision pressure for optimal healing.