The size of the negative pressure wound therapy market in the United States is forecasted to witness a healthy CAGR during the forecast period.
Factors such as the prevalence of diabetes, growing demand for specialized wound care, and rising spending on chronic and surgical wounds are expected to push the Negative Pressure Wound Therapy market in the United States. The rising incidence of chronic diseases such as diabetes is expected to significantly affect market demand, owing to the fact that diabetes often results in diabetic foot ulcers. Negative pressure wound therapy is the most popular treatment option, especially for deep acute wounds and recurring chronic wounds, such as leg ulcers. The current use of NPWT has been extensively researched in the literature in recent years. The majority of clinical trials have demonstrated that this therapy is successful in the treatment of superficial wounds.
The demand is further fuelled by the rising prevalence of chronic wounds and diabetic ulcers in the country and technical advances in NPWT products. In the recent period, Single-use NPWT devices are gaining traction in wound care management over conventional products. Furthermore, using NPWT locally in contaminated wounds has benefits such as wound drainage, angiogenesis activation, proteinase excretion, and reduced local and systemic bacterial load. Over the period, Single-use NPWT devices are gaining traction in wound care management over conventional products in the united states. Smith & Nephew, for instance, launched PICO, a single-use NPWT that has gained wide acceptance in the United States, which is further expected to propel the U.S. negative pressure wound therapy market growth.
However, the high cost of the treatment and complications associated with NPWT devices are the major restraints for the growth of the U.S. negative pressure wound therapy market. NPWT complications suppress the market's growth. The demand would be hampered by manufacturing limits on pharmaceutical ingredients and medical devices. The government's strict regulatory policies hamper the adverse pressure wound treatment devices market.
Impact of Covid-19 on the U.S. Negative Pressure Wound Therapy Market:
The rapid spread of COVID-19 has had a significant impact on the global healthcare industry. The pandemic negatively impacted the supply chains of numerous sectors worldwide in the first two quarters of 2020 and led to the reduced trade of several products, including NPWT devices. In such a scenario, manufacturers of NPWT devices across the U.S. have been negatively impacted. This has further hampered the growth of the adverse pressure wound therapy devices market. COVID 19 may affect retailers, who account for a large portion of revenue due to supply chain issues; this is likely to reduce production rates; however, wound dressing prices will temporarily rise as a result. The most common causes of wounds are car crashes and transportation trauma. While the other market segments have a small impact, diabetic wound treatment has been in place because it is a need that cannot be overlooked.
This market research report on the U.S. negative pressure wound therapy market has been segmented and sub-segmented into the following categories.
By Product Type:
By Wound Type:
The U.S. market is expected to occupy a significant share in the global negative pressure wound therapy market during the forecast period. The rising incidence of surgical and traumatic wounds and increased spending on chronic and surgical wounds can be attributed to the market growth. Diabetic ulcers are projected to affect 2% of the population in the United States per year, indicating that the demand will continue to expand. The Negative Pressure Wound Therapy Market in the United States is moderately competitive, with many major players.
Agreements, collaboration models, and new product launches are only a few of the key market participants' strategies to maximize their market share. Molnlycke Health Care, ConvaTec Inc., Cardinal Health, Inc., Smith & Nephew plc, and 3M Company are some of the major companies. The United States National Institutes of Health, a report published recently, states that chronic wounds, or wounds that are slow to heal affect 6.5 million people in the country currently. According to the Centers for Disease Control and Prevention, approximately 73,000 amputations of the lower limb are performed on diabetics in the United States each year that are not due to trauma. With the rising incidence of diabetes in the area, foot ulcers are on the increase as well, with 10% of people with diabetes suffering from a foot ulcer.
KEY MARKET PLAYERS:
Companies playing a promising role in the U.S. negative pressure wound therapy market analyzed in this report are Acelity, Smith & Nephew, Mölnlycke Health Care AB, Convatec Group, Cardinal Health, Paul Hartmann AG, Deroyal, Lohmann & Rauscher International, Medela, Genadyne Biotechnologies, Triage Meditech, Talley Group, Alleva Medical, Cork Medical, 4l Health, Carilex Medical, Chongqing Sunshine Medical Industry and Trading, Wuhan VSD Medical Science & Technology, Pensar Medical, and Haromed BVBA.