Negative Pressure Wound Therapy Devices Market Size, Share, Growth Analysis, By Product(Conventional NPWT, and Single-use NPWT), By Type(Diabetic Foot Ulcers, Venous Leg Ulcers, Pressure Ulcers, Burn Wounds), By End - User(Hospitals & Clinics, Ambulatory Surgery Centers (ASCs), and Home Care Settings), By Region - Industry Forecast 2024-2031

Negative Pressure Wound Therapy Devices Market size was valued at USD 2 billion in 2021 and is poised to grow from USD 2.14 billion in 2022 to USD 3.68 billion by 2030, growing at a CAGR of 7% in the forecast period (2023-2030).

The market for Negative Pressure Wound Therapy (NPWT) is set to expand due to an increasing demand for advanced wound care. In the field of wound management, single-use NPWT devices are gaining popularity, surpassing conventional products. A notable example is Smith & Nephew's PICO, a single-use NPWT device that has gained widespread acceptance worldwide. The industry's demand is expected to be significantly influenced by the rising prevalence of chronic diseases like diabetes, which often leads to complications such as diabetic foot ulcers.

Transport injuries, particularly road accidents, have been a major contributor to the occurrence of wounds. However, the pandemic's widespread cancellation of both public and private transportation has significantly decreased the number of patients requiring wound-related medical attention. In summary, the COVID-19 pandemic has had an adverse impact on the market.

The prevalence of diabetic ulcers in the U.S. population is estimated to grow by 2% annually, which is expected to foster market growth. Additionally, regions like the Asia Pacific are witnessing an increase in traumatic events, leading to burn-related wounds that can result in extensive skin damage. As a result, the demand for wound therapeutics is projected to rise, consequently boosting the overall market for such products.

US Negative Pressure Wound Therapy Devices Market is poised to grow at a sustainable CAGR for the next forecast year.