Global single-use negative-pressure wound therapy devices market to grow at 8.1% CAGR to US$1.67B in 2030 from US$770.2M in 2020; growth driven by increase in burns, rise in diabetes, growing geriatric population, increase in C-section surgeries: report

DUBLIN, Ireland , February 23, 2022 (press release) –

The "Single-Use Negative Pressure Wound Therapy Devices Market Research Report: By Application, End User - Global Industry Outlook and Revenue Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

Global single-use negative-pressure wound therapy devices market value, was $770.2 million in 2020, is set to witness an 8.1% CAGR between 2020 and 2030, to reach $1,673.1 million by 2030.

Due to the lockdowns initiated and shift seen in the focus of the worldwide healthcare fraternity during the COVID-19 pandemic, the single-use NPWT devices market was negatively affected.

This led to the reduced manufacturing and trade of such products, as well as their lower adoption due to the closure of many clinics, surgery departments, and burns units. But, since the lifting of the lockdowns and resumption of manufacturing operations and medical facilities, the market has been growing again.

The highest single-use NPWT devices market CAGR in the coming years, under the application segment, is set to be seen in the surgical wounds category. As surgeries often lead to post-operative wounds, the demand for single-use NPWT devices is rising among patients recovering at home or those with restricted mobility.

In this regard, the rising volume of Caesarean section surgeries is propelling the market growth by driving the demand for wound healing products that can minimize the chances of post-op infection.

North America held the largest share in the single-use NPWT devices market in the past on account of the existence of numerous market players, rising spending on healthcare, and extensive research and development (R&D) in advanced wound care.

The strongest factors leading to the market advance are:

• Rising Incidence of Burns: Every year, almost 180,000 people succumb to burn injures, says the World Health Organization (WHO). Additionally, such incidents are also a key reason behind disability-adjusted life years (DALY), which is propelling the demand for NPWT, an advanced wound care technique.
• Increasing Number of Diabetics: The increasing prevalence of diabetes is another driver for the single-use NPWT devices market advance because it often leads to diabetic foot ulcers, a type of chronic wound that is difficult to cure via traditional wound healing products. As per the International Diabetes Federation (IDF), the worldwide diabetes incidence in the age group of 20-79 will rise from 463 million in 2019 to 700 million in 2045.

Market Dynamics

Trends

• Shift in preference toward advanced wound therapies

Drivers

• Increasing cases of burns
• Rising prevalence of diabetes
• Growing geriatric population
• High rate of C-section surgeries leading to increasing post-operative usage of single-use NPWT devices
• Impact analysis of drivers on market forecast

Restraints

• Availability of substitutes
• Complications associated with single-use NPWT devices
• Impact analysis of restraints on market forecast

Opportunities

• Adoption of Single-use NPWT devices in low- and middle-income and war affected nations
• Improving economic status of countries

Impact of COVID-19 on Single-Use NPWT Devices Market

Porter's Five Forces Analysis

Regulatory Scenario

• North America
• Europe
• APAC

Comparison of NPWT and Conventional Wound Therapies

Reimbursement Policies

• Healthcare Common Procedure Coding System (HCPCS) Codes
• Current procedural technology (CPT) codes

The most-significant global single-use NPWT devices market players include 

• Devon International Group
• ConvaTec Group plc
• Smith & Nephew plc
• Molnlycke Health Care AB
• Acelity L.P. Inc.
• Talley Group Limited
• Cardinal Health Inc.
• Medela AG
• Lohmann & Rauscher GmbH & Co. KG
• Carilex Medical GmbH
• TRIAGE MEDITECH PVT. LTD.
• Genadyne Biotechnologies Inc.
• Paul Hartmann AG

Market Segments

By Application

• Surgical wounds
• Lacerations
• Burns
• Pressure ulcers
• Venous ulcers
• Diabetic ulcers
• Others

By End User

• Hospitals
• Home-care settings
• Others

For more information about this report visit https://www.researchandmarkets.com/r/sbqagx

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