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Latin America Negative Pressure Wound Therapy Market Research Report - Segmented By Product Type, Wound Type, End-User and Country (Mexico, Brazil, Argentina, Chile and Rest of Latin America) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2023 to 2028)

Published: March, 2023
ID: 11781
Pages: 100
Formats: report pdf report excel report power bi report ppt

Latin America Negative Pressure Wound Therapy Market Size (2023 to 2028)

The Latin American Negative Pressure Wound Therapy Market is estimated to grow at a CAGR of 7.01% during the forecast period. The market size is anticipated to grow from USD 192.6 million in 2023 to USD 270.2 million by 2028.

The growing incidence of diabetic cases leading to diabetic foot ulcers across the countries of Latin America is propelling the NPWT market growth in Latin America. An estimated 18% of the population in Latin America suffers from diabetic disorders, and around 14% suffer from diabetic foot ulcers. Improper treatment of this foot ulcer during a foot amputation may sometimes lead to death. Therefore, to reduce negative pressure, wound therapy technology is used to remove the extra fluid in the wound and help reduce the pain in the wounded area.

In addition, the growing number of burn cases is another factor promoting the negative pressure wound therapy market in Latin America. In the recent past, burn cases have been increasing due to growing incidents of gas exposure and fire accidents in the chemical and gaseous industries. In addition, children are more prone to burn accidents due to their sensitive skin. Therefore, some burn cases need ointments, and those affected need negative pressure wound therapy to relieve the pain and for a fast-healing procedure.

The growing number of road accidents and c-section surgeries across the Latin American region contributes to the growth of the negative pressure wound therapy market in this region. An estimated 25% of surgical operations lead to infection post-surgery, which results in the growth of post-surgery infections requiring negative pressure wound therapy treatment. In addition, most pregnant women are undergoing c-section surgeries and are susceptible to developing an infection after the surgery and may need the assistance of negative wound therapy.

Furthermore, the growing development of advanced therapies for wound healing is fuelling the growth rate of the regional market. As a result, several researchers are increasingly studying the therapies and their working mechanisms and gathering information on manufacturing different types of advanced devices that would be able to treat wounds more efficiently and at a lower cost.

However, the high costs of harmful pressure wound therapy devices are the primary factor restraining market growth. In addition, the need for more skilled professionals for treating chronic wounds with NPWT devices and the increasing use of alternative methods for wound healing also impedes the market growth.

This market research report on the Latin American negative pressure wound therapy market has been segmented and sub-segmented into the following categories.

By Product Type:

  • Conventional NPWT Devices
  • Single-use NPWT Devices
  • Accessories

By Wound Type:

  • Surgical and Traumatic Wounds
  • Ulcers
    • Pressure Ulcers
    • Venous Ulcers
    • Diabetic Foot Ulcers
    • Other Ulcers
  • Burns

By End-User:

  • Hospitals
  • Home Care Settings
  • Other End Users

By Country:

  • Mexico
  • Brazil
  • Argentina
  • Chile
  • Rest of Latin America

During the forecast period, the Latin American region is estimated to hold a considerable share of the worldwide market owing to the growth of low-cost negative pressure wound therapy in Latin America. The governments of Latin American countries invest considerably in developing wound therapies for various chronic diseases to provide patients with a better quality of life. Increasing awareness among people about the availability of negative pressure wound therapy also drives the market forward in this region. The government has conducted several programs and public and private organizations to increase the demand for NPWT devices.

The Mexican market is one of the potential markets in the Latin American market. It is expected to register a healthy CAGR during the forecast period owing to the growing number of hospitals, increasing adoption of adverse pressure wound therapy treatment, and increasing product approval and reimbursement policies.

On the other hand, the market in Argentina is predicted to hold a considerable share of the Latin American market owing to the growing number of R&D activities in the wound therapy sector. Furthermore, single-use NPTW devices have more demand due to their ability to provide a fast-healing rate compared to reusable devices after sterilization. In addition, the growing trend for home treatment for older people and disabled people adopting this treatment promotes market growth.

KEY MARKET PLAYERS:

A few of the notable companies operating in the Latin American NPWT market profiled in this report are Acelity, Smith & Nephew, Mölnlycke Health Care AB, Convatec Group, Cardinal Health, Paul Hartmann AG, Deroyal, Lohmann & Rauscher International, Cork Medical, Chongqing Sunshine Medical Industry, and Trading, Wuhan VSD Medical Science & Technology.

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FAQ's

What is the size of the Latin America Negative Pressure Wound Therapy Market?

The Latin American negative pressure wound therapy market size was worth USD 180 million in 2022.

Which countries are the largest markets for negative pressure wound therapy in Latin America?

Brazil, Mexico, and Argentina held the major share of the  negative pressure wound therapy market in Latin America in 2021.

What are the major players in the Latin America Negative Pressure Wound Therapy Market?

Smith & Nephew, Mölnlycke Health Care, Acelity L.P. Inc. (now 3M Company), ConvaTec Group Plc, and Coloplast Corp are some of the notable companies in the Latin American negative pressure wound therapy market.

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