Market Trends of Negative Pressure Wound Therapy Industry
Diabetic Foot Ulcers Segment is Expected to Have a Significant Market Share During the Forecast Period
A diabetic foot ulcer is an open sore or wound that occurs in patients with diabetes and is commonly located on the bottom of the foot. The use of negative pressure wound therapy (NPWT) was found to be effective in achieving faster wound bed granulation in diabetic foot ulcers. Due to the increased application of NPWT in diabetic foot ulcers, this segment is expected to project significant growth over the forecast period.
Moreover, according to the International Diabetes Federation Diabetes Atlas, February 2022 report, an estimated 61 million adults (20-79 years) were living with diabetes in the Europe Region in 2021. The number of adults with diabetes is predicted to rise to 69 million by 2045, an increase of 13%. The surge in the prevalence of diabetes among all ages in the European Region is likely to increase the cases of diabetic foot ulcers, which will ultimately augment the segment's growth. Due to the increasing number of people with diabetic foot ulcers globally, there is a growing demand for negative pressure wound therapy devices, as it is one of the most efficacious, safe, and cost-effective methods of treating diabetic foot ulcers.
Additionally, the growing number of studies demonstrating the importance of NPWT is also expected to propel the growth of the segment. For instance, an article published by Burns & Trauma in June 2021 concluded that the treatment of diabetic foot requires a cross-disciplinary and systematic approach, within which NPWT is an important adjunct treatment for diabetic foot wounds. It also reported that the standardised management and application of NPWT may improve wound exudate drainage, enhance blood perfusion, and promote wound healing.
Hence, due to the efficacy of negative pressure wound therapy in healing diabetic foot ulcers in less time, the demand for negative pressure wound therapy is increasing. Adding to that, the rising incidence and prevalence of diabetic foot ulcers across the globe also fuel the segment's growth. Thus, the market segment is expected to show significant growth over the forecast period.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America is expected to hold a significant market share in the negative pressure wound therapy market due to the rising prevalence of chronic wounds and the increased number of accidents in this region. The United States, being one of the most developed economies and technologically advanced countries, holds a notable share of the studied market.
The high burden of diabetes in the region is also expected to drive the growth of the market. For instance, according to the International Diabetes Federation, in 2021, there were 32.2 million prevalent cases of diabetes (20-79 years old) in North America, and this is expected to reach 36.8 million by 2045. Such an increasing burden of diabetes raises the risk of diabetic foot ulcer and is thus expected to drive the growth of the market.
Additionally, the strategic initiatives taken by the market players are expected to drive the growth of the market in the region. For instance, in April 2021, Joerns Healthcare signed a distribution agreement with Medela to distribute Medela's negative pressure wound therapy (NPWT) product line on a national basis to skilled nursing and long-term acute care hospital settings. Also, the market players are focusing on user experience to gain a competitive edge.
Thus, owing to the abovementioned factors, such as the rising prevalence of chronic wounds and the strategic initiatives by market players, the studied market is expected to show significant growth in the North American region over the forecast period.
