CAGR: 3.9%Current Market Size: USD 1.9 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The Global Vacuum Therapy Devices market is expected to grow from USD 1.9 billion in 2022 to USD 2.5 billion by 2030, at a CAGR of 3.9% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the rising cases of road accidents and erectile dysfunction.
Devices for different types of vacuum therapy and erectile disorders, such as negative pressure wound therapy, are known as vacuum therapy devices (NPWT). Using sub-atmospheric pressure in vacuum therapy equipment promotes the healing of acute and chronic wounds, including burns, diabetic ulcers, and arterial ulcers. NPWT devices apply pressure via a wound dressing to promote wound healing. They are made up of a vacuum pump, an advanced wound dressing, and drainage tubing. Its purpose is to control suction power. The pressure increases blood flow to the injured area and draws pus and other detritus out of the wound. Depending on the size of the wound to be treated and the patient's body shape, various vacuum therapy devices are widely available in various sizes and shapes. Vacuum therapy equipment, such as vacuum pumps, can be stationary or mobile powered by batteries or alternating currents. There are two types of vacuum devices for NPWT: freestanding and portable NPWT devices. It has innovative features, including a changeable canister and a pressure loss alarm indicator. One of the main factors driving the market expansion for vacuum therapy devices is the increase in accidental incidents. Growing patient knowledge of NPWT has accelerated the adoption of these cutting-edge vacuum therapy devices. As using these vacuum therapy devices produces effective results, vacuum therapy is becoming more and more popular in the wound care sector.
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Market Dynamics:
Drivers:
The Vacuum Therapy Devices market is experiencing huge demand due to rising cases of accidents. In 2021, between 20 and 50 million people will have non-fatal injuries, with many of them becoming disabled as a result, according to a report by the World Health Organization (WHO). Despite having over 60% of the world's vehicles, low- and middle-income countries account for 93% of all road fatalities worldwide. People from poorer socioeconomic origins are more likely to be involved in traffic accidents, even in high-income countries. As a result, more injuries are caused by traffic-related crashes, which is predicted to spur market expansion.
Restraints:
The growth of the vacuum therapy devices market is affected by the presence of traditional methods and other alternative methods available in the market for the treatment of erectile dysfunction which is affecting the sales of the market. Consumers are more reliable on traditional ways to deal with their personal health related issues which is also one the major issues contributing towards the downfall in the growth of the market.
Opportunities:
The vacuum therapy devices market is witnessing immense growth due to continuous research and development in the field by major key players. Moreover, rising public health awareness and an increasing geriatric population are contributing a major share in the growth of the market and will keep on adding more value to the market during the Projection period.
Challenges:
The Vacuum Therapy Devices market is facing so many challenges which are hampering its growth of the market such as the high cost of surgical procedures and the lack of trained surgeons. The number of trained surgeons is less which is affecting the rate of successful procedures, which eventually affects the Vacuum Therapy Devices market. In order to deal with rising cases of road accidents, erectile dysfunction it is necessary to have trained staff who can operate vacuum therapy devices with no errors to obtain successful results.
Segmentation Analysis:
The global vacuum therapy devices market has been segmented based on product type, portability, application, end-user, and region.
By Product Type
The product segment includes negative pressure wound therapy and vacuum constriction devices. The Negative Pressure Wound Therapy segment led the largest share of the vacuum therapy devices market with a market share of around 57.2% in 2022. During the Projection period, the Negative Pressure Wound Therapy segment is expected to dominate the market as it uses the vacuum devices as it reduces the air pressure around the wound and allows the fluid to drain from it. Furthermore, the increasing incidences of diabetic foot ulcers drives the segment’s growth. According to data from 2021 released by the University of Michigan Health, about 15% of people with diabetes typically get ulcers. A 6% hospitalization rate is possible for diabetes patients with foot ulcers. One of the most typical consequences for diabetes people is foot ulcers. This increases the demand for negative pressure wound therapy, propelling the segment’s growth.
By Portability
The portability segment includes non-portable vacuum therapy devices and portable vacuum therapy devices. The portable vacuum therapy devices segment led the largest share of the vacuum therapy devices market with a market share of around 59% in 2022. The portable vacuum therapy devices market registers the highest revenue share, because of their easy, lightweight and effective design, and the growing demand from hospitals and ambulatory settings for portable vacuum therapy devices, propelling the growth of the vacuum therapy devices market.
By Application
The application segment includes Chronic wounds, Venous leg ulcers, Diabetic foot ulcers, Pressure ulcers, Acute wounds, Traumatic wounds, Burn cases, Surgical Procedures, and Erectile dysfunction. The Chronic wounds segment led the largest share of the Vacuum Therapy Devices market with a market share of around 13% in 2022. Chronic wounds are very common disease among humans which drives the segment’s growth. Incisions, burns, and trauma wounds are some common types of chronic wound. According to estimates, 6.7 million people currently have chronic wounds, and over the course of the next ten years, that number will increase at a rate of more than two percent. Thus, there is an increasing demand for vacuum therapy for the treatment of chronic wounds. propelling the segment’s growth.
By End-User
The end-user segment includes hospitals & clinics, ambulatory surgery center, home care settings, and others. The Hospitals & Clinics segment led the largest share of the Vacuum Therapy Devices market with a market share of around 35.3% in 2022. Hospitals and clinics have trained professionals who are capable enough to handle the equipment effectively which drives the segment’s growth. Furthermore, the hospitals and clinics and enough space and required infrastructure to perform the therapy over there added impetus to the market’s growth.
Global Vacuum Therapy Devices Market- Sales Analysis.
The sale of Vacuum Therapy Devices expanded at a CAGR of 3.1% from 2016 to 2022.
Major hospitals and ambulatory clinics have adopted vacuum therapy devices due to the additional benefit of a shorter healing time. It is anticipated that increased technology improvements for better treatment protocols in vacuum therapy devices will encourage the players to release technologically advanced and user-friendly NPWT systems.
The vacuum therapy devices have improved due to technological advancement, which has increased competition in the market for vacuum therapy devices by causing top manufacturers to introduce new, innovative products. The market for vacuum therapy equipment has been growing rapidly over the past several years as a result of the increase in trauma and automobile accident causality cases. Additionally, increasing incidences of diabetes mellitus and foot injuries are anticipated to fuel the global market for vacuum therapy devices, which would result in significant revenue growth.
Thus, owing to the aforementioned factors, the global vacuum therapy devices market is expected to grow at a CAGR of 3.9% during the Projection period from 2023 to 2030.
Global Vacuum Therapy Devices Market- By Regional Analysis:
The regions analyzed for the vacuum therapy devices market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the vacuum therapy devices market and held a 38.6% share of the market revenue in 2022.
Global Vacuum Therapy Devices Market- Country Analysis:
Germany's vacuum therapy devices market size was valued at USD 0.196 billion in 2022 and is expected to reach USD 0.27 billion by 2030, at a CAGR of 4.1% from 2023 to 2030.
The growth in chronic diseases, the increase in surgical procedures, and the increase in cesarean sections among elderly mothers will drive the market for negative pressure wound therapy devices during the Projection period in the country.
China’s vacuum therapy devices market size was valued at USD 0.201 billion in 2022 and is expected to reach USD 0.28 billion by 2030, at a CAGR of 4.4% from 2023 to 2030.
Over the Projection period, the growing number of injuries creates tremendous opportunities for market players and increased R&D activities to bring new and more reliable products to market creates more opportunities for the market growth
India's vacuum therapy devices market size was valued at USD 0.155 billion in 2022 and is expected to reach USD 0.21 billion by 2030, at a CAGR of 4.2% from 2023 to 2030.
During the Projection period, medical tourism is expected to fuel the market's growth. In addition, the continuously expanding target patient population and increasingly efficient healthcare infrastructure will also contribute a major share in the growth of the market.
Key Industry Players Analysis:
To increase their market position in the global vacuum therapy devices business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
3.9% |
Market Size |
1.9 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Product Type, By Portability, By Application, By End-User, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Coloplast Corp, 3M, Smith & Nephew Plc, Cardinal Health, Vacurect, and Boston Scientific corporation. |
By Product Type |
|
By Portability |
|
By Application |
|
By End-User |
|
Regional scope |
|
Scope of the Report
Global Vacuum Therapy Devices Market by Product Type:
Global Vacuum Therapy Devices Market by Portability:
Global Vacuum Therapy Devices Implants Market by Application:
Global Vacuum Therapy Devices Implants Market by End-User:
Global Vacuum Therapy Devices Market by Region:
Global Vacuum Therapy Devices market is expected to reach USD 2.5 billion by 2030, at a CAGR of 3.9% from 2023 to 2030.
Rising accidents and increasing research and development will propel the market's growth.
North American region will witness more Vacuum Therapy Devices market growth.
Coloplast Corp, 3M, Smith & Nephew Plc, Cardinal Health, Vacurect, Boston Scientific corporation, Acelity L.P. Inc, Molnlycke Health Care AB, Augustus Medical Systems, and ConvaTec Inc, among others.
Political Factors- One of the most critical roles in the development of the global vacuum therapy devices market sector in terms of human resource advancement, technology expansion, and the establishment of institutes for technology transfer has been performed by political forces. In addition to these elements, the government launched a five-year plan to develop submicron technology in 1990. This plan includes the creation of labs for submicron development in addition to the previously listed features. The federal government has been working tirelessly to bring the vacuum therapy devices market Inc sector up to par with worldwide standards, and the advent of vacuum therapy devices market has filled the gap in design and development with the aim of ushering in a technological revolution through this new enterprise.
Economic Factors- There are other economic issues facing the industry besides the fact that vacuum therapy devices sector is experiencing an unbalanced demand and supply situation. The industry's excess supply is followed by a rate that is less than the vacuum therapy devices price, which has put manufacturers' cash flow at risk. Because it can result in reduced manufacturing, the economic crisis is a serious issue for the industry. Increased production as a consequence of efficiency gains may lead to an economic crisis once more due to an excess of supply and a decrease in demand, which could lead to business closures due to low profits.
Social Factors- Through training intended to increase the knowledge of market resources, the global government has genuinely focused on advancing human capital in the market. The fact that the global vacuum therapy devices market is the only one with properly formed global divisions of labour is evidence of social initiatives to enhance its reputation and quality.
Technological Factors- Due to the fact that global producers of vacuum therapy devices still rely on foreign technical partners and lack their own expertise, there are still certain technological challenges in the business. The government's market intervention has been focused on changing the vaccum therapy devices market to reduce this dependence. Leading Taiwanese companies like Powerchip have strategically partnered with foreign companies like Elpida from Japan. However, there are technological limitations in this setup, especially given how reluctant foreign federal governments like the Japanese government are to export technology.
Environmental Factors- The ease of capacity expansion in the vacuum therapy devices market business indicates that globally it is a highly favourable region according to a basic assessment of the environment. Additionally, the region's availability of creating skills adds to this observation's support. It works to reduce pollution and carbon footprint through a variety of corporate practices. In addition to using digitalization and reducing emissions, it is improving the efficiency of its processes. vacuum therapy devices market have an advantage over many other companies in their industry thanks to the favourable environmental effect. Consumer behaviour is changing in the modern era to favour sustainability while taking resource scarcity into account.
Legal Factors- Concerns and opportunities with IP rights and contracts exist in vacuum therapy devices market legal environment. A company has the legal means to defend its innovation, processing, and intellectual property (IP), which can increase others' dependence on it. The fact that Micron's interest in vacuum therapy devices market may not materialise due to the former company's legal agreement with Nanya and Inotera is evidence that the vacuum therapy devices market places a high value on legal contracts. Additionally, if a particular kind of medicine is prohibited in a nation, it should not be sold there. In order to prevent sales from being hampered, it is crucial to offer legal alternatives and answers.
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