Pune India, Jan. 06, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the vacuum therapy devices market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the vacuum therapy devices market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product, portability, application, end-user, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global vacuum therapy device market are 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. To achieve a substantial market share in the worldwide vacuum therapy devices market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
A vacuum therapy device is used to treat various types of erectile disorders as well as vacuum therapy for wounds. There are a variety of vacuum therapy devices available in various sizes and shapes to suit the shape and size of the patient's body. The vacuum therapy devices can be either fixed or moveable, powered either by batteries or alternating current, for negative wound pressure therapy. A wide range of indications and wounds are being treated with vacuum therapy devices, which have been proven to be successful in the market for vacuum therapy devices over the past few years. A rise in technological advancements in vacuum therapy devices is expected to prompt the players to launch more user-friendly and technologically enhanced negative pressure wound therapy systems. As the development potential of advancing countries increases and the healthcare industry modernizes, the vacuum therapy devices market is expected to have greater opportunities for growth in the coming years. Additionally, foot injury cases and diabetes mellitus cases are expected to drive the vacuum therapy devices market across the globe, which will account for a high revenue growth. Due to the effectiveness of these vacuum therapy devices, wound care is becoming more and more popular.
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Scope of Vacuum Therapy Devices Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Product, End-User, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | 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. |
Segmentation Analysis
Negative pressure wound therapy is expected to be the fastest-growing segment in 2022.
The product segment includes negative pressure wound therapy and vacuum constriction devices. The negative pressure wound therapy segment is expected to witness the highest growth rate during the forecast period. As the vacuum devices reduce the air pressure around the wound and allow the fluid to drain, the negative pressure wound therapy segment is expected to dominate the market.
Portable vacuum therapy devices are expected to be the fastest-growing segment in 2022.
The product segment includes non-portable vacuum therapy devices and portable vacuum therapy devices. The portable vacuum therapy segment is expected to witness the highest growth rate during the forecast period. Among the Vacuum Therapy devices market, portable devices account for the largest revenue share, due to their easy, lightweight, and effective mobile design and growing demand from hospitals.
Chronic wounds are expected to be the fastest-growing segment in 2022.
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 is expected to witness the highest growth rate during the forecast period. A chronic wound is one of the most common problems among humans, which is one of the factors driving the segment's growth. There are many types of chronic wounds, such as incisions, burns, and trauma wounds, which makes vacuum therapy an effective treatment option, which are boosting the growth of the market.
Hospitals & clinics are expected to be the fastest-growing segment in 2022.
The end-user segment includes hospitals & clinics, ambulatory surgery center, home care settings, and others. The hospital segment is expected to witness the highest growth rate during the forecast period. The segment's growth is driven by hospitals and clinics who have trained staff capable of handling the equipment effectively.Moreover, the availability of facilities with the appropriate infrastructure and space to perform the therapy on-site also contributed to the market's growth.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for needle destroyers include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. The market players are expected to take strategic initiatives to drive the growth of the market in the region. As the regional market expands, vacuum therapy devices for erectile dysfunction and wound management account for a large portion of the growth
Country Analysis
- Germany
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.
There are several factors that are expected to drive the negative pressure wound therapy devices market in the forecast period, including chronic disease prevalence, an increase in surgical procedures, and an increase in the number of cesarean sections performed on elderly women, propelling the market growth in the country for vacuum therapy devices.
- China
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 forecast period, rising injury rates will open up a wealth of opportunities for market players, and will spur R&D activities to introduce new and reliable products to markets, driving the country's market growth
- India
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.
Rising awareness among the patients and other major factors expected to drive the market growth over the forecast period include booming medical tourism, constantly increasing target patient populations, and improving healthcare infrastructure, will create new opportunities for the market growth.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the increasing road accident cases and rising cases of erectile dysfunction, propelling the growth of the market across the countries.
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