The negative pressure wound therapy market is predicted to hike from $1.7 billion in 2018 to around $2.5 billion by 2025, according to a 2019 Global Market Insights, Inc. report. Increasing prevalence of endocrine and other chronic diseases across the globe will positively influence the NPWT market growth in forthcoming years.
The hospital segment will experience over 5.5% growth in the negative pressure wound therapy market throughout the forecast years and is anticipated to have similar growth trends in near future. Patients suffering from critical wounds such as foot ulcers, skin burns, pressure and surgical wounds need to stay in a hospital. Additionally, negative pressure wound therapy dressings are changed every 24-48 hours to avoid bacterial build up. As a result, usage of NPWT treatment will be prominently high in hospitals, thereby propelling segment growth.
The North America negative pressure wound therapy (NPWT) market held around 42% revenue share in 2018. Substantial regional market growth is attributed to increasing incidences of traumas and accidents. Thus, demand for NPWT treatment will remain high in the region. Furthermore, a strong foothold of key industry players coupled with favorable regulatory scenario for NPWT devices will augment regional business growth.
The single-use negative pressure wound therapy market is estimated to witness around 7.5% growth in coming years owing to its vast benefits. Single-use NPWT devices are convenient when compared to conventional devices that result in positive patient outcomes. Moreover, with the application of single-use NPWT, infection risk is eliminated and as device is portable that increases its preference in home care settings, thereby stimulating the segmental growth.
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