Increasing Use of Negative Pressure Wound Therapy Devices in the Healthcare Sector Present Lucrative Opportunities for the Key players

Surge in the prevalence of chronic diseases such as obesity and type I & type II diabetes, in the last few years, has increased the demand for treatments that involve negative pressure wound therapy devices, which in turn has been highly beneficial for the market growth. At the same time, significant awareness among patients toward the obtainability of economical NPWT devices for example single-use maneuvers and increase in number of fatalities caused by traumas & accidents have supplemented the growth yet more.

According to Allied Market Research, the global negative pressure wound therapy devices market is anticipated to generate a whooping CAGR from 2020 to 2027. Over the last decade, there’s also been a steep rise in the number of geriatric population across the world- the race that are vulnerable to serious medical conditions giving way to the development of several wound types, which has boosted the growth of the NPWT devices market in more than one way. Moreover, the conveniences of innovative and pioneering NPWT devices, which are highly feasible and easy to use, have made them a preferred choice among the medical practitioners and the patients alike.

Rapidly aging population, increase in incidences of chronic conditions, technological advancements in NPWT devices to deal with complex wounds, and surge in awareness to reduce healthcare costs drive the growth of the global negative pressure wound therapy devices market. On the other hand, complications related to NPWT impede the growth to some extent. However, increased focus toward advanced treatment protocols and significant unmet needs in wound care are expected to create multiple opportunities in the industry.

Most importantly, growing emphasis on the innovations in terms of treatment protocols and considerable market potential in the developing countries have paved the way for an array of opportunities in the industry. Advantages associated with single-use NPWT devices for instance its lightweight nature, superior settlement insurance, and cutting-edge dressing options have made the key players bring forth extra specifications including MVTR top film, which permits one-way evaporation of exudate suspension; and silicone contact, thus letting fluid card easily and reducing the pain on removal. 

The huge patient pool suffering from chronic syndromes such as diabetes in North America has propelled the huge market growth in the region. Patients with diabetes are often found with diabetic foot ulcers. And, a cumulative number of diabetic wounds in individuals is giving way to significant demand for NPWT expedients. Additionally, positive regulatory setup for negative pressure wound therapy maneuvers across North America has fostered the growth of the industry even more.

Covid-19 scenario-

Here, it’s worth stating that the outbreak of the pandemic led to postponement of most of the elective treatment procedures across the world, which had a negative impact on the global NPWT devices market, , especially during the initial phase, since the demand for the maneuvers experienced a steep decline. However, the market has already started getting back on track.

• The outbreak of the pandemic has made people more cautious about several health measures. And, growing prevalence of chronic diseases such as diabetes & obesity and mounting use of single use devices have boosted the negative pressure wound therapy devices market.
• Still, disruptions in the supply chain are likely to hamper the market to certain extent.
• However, the industry is quite likely to benefit from the growing awareness about healthcare.