Market Trends of Vacuum Therapy Devices Industry
This section covers the major market trends shaping the Vacuum Therapy Devices Market according to our research experts:
Negative Pressure Wound Therapy (NPWT) Segment Expected to Hold a Major Market Share
Negative pressure wound therapy uses vacuum devices to decrease air pressure around the wound and pulls out the fluid from the wound. A higher incidence of diabetic foot ulcers is expected to increase the demand for vacuum therapy devices. According to the 2021 data published by the University of Michigan Health, diabetes ulcer usually affects around 15% of the diabetic population. Diabetic foot ulcers can cause hospitalization of about 6% of the affected diabetic patients. Foot ulcers are one of the most common complications among diabetic patients. According to an article published in the Journal of Foot in February 2022, diabetes is responsible for roughly 67% of leg amputations in the United States. The prevalence of diabetic foot ulcers in the country is expected to drive segment expansion.
Additionally, a number of studies have demonstrated the importance of NPWT is also expected to propel the growth of the segment. For instance, an article published in Burns and Trauma in June 2021 stated that diabetic foot therapy necessitates a multidisciplinary and systematic approach, with NPWT serving as an important adjuvant treatment for diabetic foot wounds. It further stated that systematic management and application of NPWT may improve wound exudate drainage, blood perfusion, and wound healing.
Additionally, the strategic initiatives taken by the market players are expected to drive the growth of the segment. For instance, in August 2021, Aatru Medical, LLC reported the NPSIMS Negative Pressure Surgical Incision Management System received FDA 510(k) Class II clearance. The Food and Drug Administration-approved miniature gadget is intended to aid in the healing of open wounds following surgery by sealing and keeping them tight with moderate suction.
Hence, the aforementioned factors are expected to fuel the vacuum therapy devices market's growth.
North America Expected to Hold a Significant Share During the Forecast Period
North America is expected to be a dominant region in the vacuum therapy devices market, owing to the increasing number of road accidents and higher prevalence of chronic diseases, such as venous diseases. According to the National Safety Council (NSC) in 2021, exercise with or without exercise equipment, accounted for about 468,000 injuries, the most of any category of sports and recreation. Bicycling followed with about 417,000 injuries, while basketball with 404,000 injuries, and football, with 292,000 injuries in the United States. Therefore, the rising burden of injury creates tremendous opportunities for market players, and they are focusing on R&D activities to bring new and reliable products into the market, thereby driving market growth over the forecast period.
Additionally, the growing prevalence of chronic diseases is expected to boost the market in the region. As per the data published by International Diabetes Federation (IDF) in 2021, the incidence of diabetes in Canada (per 100,000) for the year 2021 was around 37.9% in children aged between 0-14 years. In addition, the number of adults aged 20-79 years suffering from diabetes in Canada was around 3 million for the year 2021. The rising number of diabetic cases in the Canada is expected to increase the number of diabetic ulcer cases and contribute to market growth in the United States.
Additionally, the strategic initiatives taken by the market players are expected to drive the growth of the market in the region. For instance, in September 2022, Applied Tissue Technologies has received Food and Drug Administration approval for for its non-foam negative pressure wound therapy system. Thus, the market segment is expected to show significant growth over the forecast period.
