Negative Pressure Wound Therapy Market size was valued at USD 2.6 billion in 2021, growing at a significant CAGR of 6.2% over 2022–2028. The WHO estimates that in 2020, a rise in the need for Negative Pressure Wound Therapy (NPWT) devices was caused by more than 96 % of fatal fire-related burns in LMICs. Burns are increasing in frequency, driving up demand for NPWT devices globally. The prevalence of different surgical or chronic wounds worldwide drives the need for negative pressure wound care. 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.
Recent Market Developments:
In January 2022, Smith & Nephew announced a new indication for use for its PICO 7 and PICO 14 single-use negative pressure wound therapy systems. The United States Food and Drug Administration (FDA) cleared the systems for use on closed surgical incisions to aid in reducing the incidence of wounds.
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.