Negative Pressure Wound Therapy Market Size

Negative Pressure Wound Therapy Market size was valued at USD 2.51 Billion in 2023 and is poised to grow from USD 2.68 Billion in 2024 to USD 4.54 Billion by 2032, growing at a CAGR of 6.8% during the forecast period (2025-2032).

The market competition of the negative pressure wound therapy market is moderately high. Important factors such as global ageing, increases in chronic diseases, and advances in NPWT devices Market dynamics are also influenced by regulations and reimbursement policies along with increasing trend towards home healthcare. There is a considerable amount of innovation occurring here in the market, given ongoing and rapid technology advancements and increasing adoption of advanced products among negative pressure wound therapy industry leaders. The market is aided by the fact that companies are making heavy investments on these advanced technologies, granting them a competitive edge. With single-use systems, wireless remote monitoring, and increased patient mobility, these latest NPWT devices have been developed to create more effective and efficient solutions for wound healing.   'Smith & Nephew plc (UK)', 'Mölnlycke Health Care AB (Sweden)', 'ConvaTec Group plc (UK)', 'Cardinal Health, Inc. (US)', 'Talley Group Limited (US)', 'Medela AG (Switzerland)', 'Paul Hartmann AG (Germany)', 'Acelity L.P. Inc. (US)', 'Lohmann & Rauscher International GmbH & Co. KG (Germany)', '3M Company (US)', 'Medline Industries, Inc. (US)', 'Coloplast A/S (Denmark)', 'Zimmer Biomet Holdings, Inc. (US)', 'Genadyne Biotechnologies, Inc. (US)', 'DeRoyal Industries, Inc. (US)', 'Mölnlycke Health Care AB (Sweden)', 'Talley Group Limited (US)', 'Medela AG (Switzerland)', 'Cardinal Health, Inc. (US)', 'ConvaTec Group plc (UK)'

The chronic diseases, like diabetes is increasing worldwide will be presenting a big percentage of patients with its comorbidity diabetic foot ulcers. Moreover, the increasing geriatric population suffering from various diseases and ailments is going to comprise of less mobile elderly patient. These trends are projected to drive the demand for negative pressure wound therapy market.  

Development of User Friendly and Portable Solutions: One of the opportunistic factors that are expected to drive growth of the NPWT market at global level is increasing focus on ambulatory care as well as development of portable and easy-to-use NPWT devices. As evidenced by the growing focus on patient-centricity and cost-effectiveness across healthcare systems worldwide, there is an emerging trend toward shifting care away from traditional inpatient settings and into outpatient or home-based environments.  

In 2023, the largest negative pressure wound therapy market share was held by North America. The increasing incidence of road accidents and sporting injuries, coupled with the presence of a number of key players in this region is expected to boost North America market. To gain a significant share of the market, the region is consistently introducing cost-effective & advanced devices for the patients in development. Moreover, increasing number of hospitals and rising geriatric pool are few factors that will accelerate the regional negative pressure wound therapy market growth. The increasing rate of chronic wounds in United States and the growing older population in U.S. are some major factors driving growth of the market during the forecast period.