Wound Therapy Devices Market Size, Share & Trends Analysis Report By Wound Type (Chronic, Acute), By Product (NPWT, Pressure Relief Devices, Electric Stimulation Devices), And Regional Segment Forecasts, 2019 - 2026

Report Overview

The global wound therapy devices market size was valued at USD 1.31 billion in 2018 and is expected to expand at a CAGR of 3.9% over the forecast period. Increasing prevalence of chronic diseases, rising geriatric population, the launch of technologically advanced products, and rising cases of accidents and trauma across the globe are anticipated to fuel the growth.

Increasing cases of chronic diseases, especially diabetes, is one of the major factors contributing to market growth. Since, long term diabetic patients are majorly prone to diabetic leg ulcers, thus rising cases of diabetes are anticipated to positively impact the advanced wound therapy devices market growth. For instance, as per the American College of Physicians, in 2017, the global annual incidence rate of diabetic foot ulcers was around 6.3% and the lifetime incidence rate of foot ulcers in patients suffering from diabetes ranges from 19.0% to 34.0%. The advanced wound therapy devices such as Negative Pressure Wound Therapy (NPWT) devices, electric stimulation devices, and pressure relief devices are very effective in treating diabetic foot and venous leg ulcers. Therefore, increasing the incidence of such diseases is anticipated to fuel the wound therapy devices market growth.

Rising cases of accidents, burns, and traumas are also attributed to the market growth. Burn wound is the most common type of acute wound and it is characterized by acute skin damage and causes the skin cells to die. The burn wounds are segmented into different levels such as first-degree, second-degree, third-degree, and fourth-degree burns, depending on the severity of the wound and nature of the treatment. Increasing cases of burn incidents across the globe are the major driving factor for the rising cases of burns.

Wound Type Insights

For instance, as per the National Center for Biotechnology Information (NCBI), in 2017, countries such as Bulgaria, Finland, the Netherlands, China, Australia, and the U.K. reported a rise in the incidence rate of burn wounds. Since the NPWT device is the most commonly used device used for treating acute wounds, thus the high prevalence of burn wounds is anticipated to contribute to the market growth.

The acute wounds held the leading market share in 2018. The acute wounds comprise of burns and surgical and traumatic wounds. Rising cases of burns and traumatic events across the globe are anticipated to drive the segment growth. As per the World Health Organization (WHO), over 1,000,000 people are registered, annually, as moderately or severely burnt. Hence, such factors indicate significant segment growth over the forecast period. NPWT is majorly used for burn injuries as it allows rapid healing.

The chronic wound segment is anticipated to witness the fastest CAGR over the forecast period. The increasing cases of chronic diseases, especially diabetes coupled with rising geriatric population across the globe are the major driving factors for the segment growth. For instance, as per the United States Census Bureau, the number of people aged 65 or older, grew by 1.6 million from 2014 to 2015. Such factors are anticipated to drive growth over the forecast period.

Product Insights

Negative Pressure Wound Therapy (NPWT) devices segment held the largest market share in 2018 and is expected to witness the fastest CAGR over the forecast period. NPWT is generally of two types, namely, conventional NPWT and single-use NPWT. Conventional NPWT devices comprise of a suction pump for generating negative pressure along with a canister for the collection of wound exudates. THE conventional NPWT system is not suitable for home care settings.

Single-use NPWT devices are majorly used for acute and chronic wounds. These systems consist of a small portable battery-powered pump without any bulky canister and thus, it is suitable for home care settings. Increasing geriatric population and rising prevalence of chronic diseases are expected to surge the segment growth over the forecast period. For instance, as per the United Nations Organization, the geriatric population was over 962.0 million in 2017 and is projected to reach around 2.1 billion by 2050.

End-Use Insights

Based on end-use, the market is assessed for hospitals, specialty clinics, home healthcare, and others. The hospital segment held the largest market share in 2018. NPWT and oxygen and hyperbaric oxygen equipment are predominantly suitable for hospital use and are not feasible for homecare. Rising cases of diabetic foot ulcers, venous leg ulcers, trauma, and burns are the major factors driving the segment growth.

The home healthcare segment is expected to witness the fastest CAGR over the forecast period. Wound care in-home care settings majorly initiated with the introduction of single-use NPWT systems and pressure relief devices. These devices are lightweight, portable, canister-free, and are easy to handle. Also, the cost-effectiveness of such therapy of treating chronic and acute wounds encourages patients to adopt homecare settings over hospital stays. Furthermore, rising R&D by major market players is also expected to contribute to the segment growth.

Regional Insights

North America led the market in 2018, accredited to the increasing cases of sports injuries, road accidents, rising prevalence of chronic diseases, and the presence of several key players in the region. Also, the availability of skilled professionals and improvement in healthcare infrastructure is expected to drive the regional growth in the forthcoming years.

Asia Pacific is anticipated to witness the fastest CAGR over the forecast period. Increasing prevalence of chronic diseases, especially diabetes and rising cases of burn injuries in this region are expected to surge the market growth over the forecast period. For instance, as per the Ministry of Health and Family Welfare (MoHFW) Government of India, in 2016, around 7.0 million people of India suffer from burn injuries every year.

Wound Therapy Devices Market Share Insights

Prominent market players include Acelity L.P. Inc.; ConvaTec; Smith & Nephew; Mölnlycke Health Care; Sechrist; and Cardinal Health, Inc. Key players are involved in adopting strategies such as mergers and acquisitions, product launches, and partnerships to strengthen their market position.

For instance, in October 2016, Acelity L.P. Inc. launched iOn PROGRESS Care Network with remote therapy monitoring, which helps in monitoring patients with NPWT at home. Furthermore, in September 2016, Acelity L.P. Inc. expanded the portfolio of PREVENA Therapy by launching PREVENA PLUS Incision Management System, thereby, the customer base of the company is anticipated to increase.

Wound Therapy Devices Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2015 to 2026. For this study, Grand View Research has segmented the global wound therapy devices market report based on wound type, product, end-use, and region:

• Wound Type Outlook (Revenue, USD Million, 2015 - 2026)

  • Chronic

  • Acute

• Product Outlook (Revenue, USD Million, 2015 - 2026)

  • Negative Pressure Wound Therapy (NPWT)

  • Oxygen and Hyperbaric Oxygen Equipment

  • Electric Stimulation Devices

  • Pressure Relief Devices

  • Others

• End-Use Outlook (Revenue, USD Million, 2015 - 2026)

  • Hospitals

  • Specialty Clinics

  • Home Healthcare

  • Others

• Regional Outlook (Revenue, USD Million, 2015 - 2026)

  • North America

    • The U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • China

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa

    • Saudi Arabia