“Global Vacuum Therapy Devices Market to reach a market value of USD 2.2 Billion by 2031 growing at a CAGR of 3.8%”
The Global Vacuum Therapy Devices Market size is expected to reach $2.2 billion by 2031, rising at a market growth of 3.8% CAGR during the forecast period.
In Japan, the aging population is a primary factor driving the rising demand for vacuum therapy devices. According to the Statistics Bureau of Japan, the population aged 65 years and over was 36,236 thousand (29.0 percent of the total population) in 2022, making it one of the oldest populations in the world. This demographic trend is leading to an increase in age-related health issues, including chronic wounds such as pressure ulcers and venous leg ulcers, which are prevalent among the elderly. Thus, the Asia Pacific market acquired 25.4% revenue share in the market 2023.
Vacuum therapy devices, which have been shown to be helpful in accelerating wound healing, are anticipated to considerably decrease the global burden of chronic wounds. Hence, the growing need for effective and innovative treatment options is expected to drive the continued expansion of the vacuum therapy devices market in the coming years.
Additionally, patients educated about the benefits of advanced wound care are more likely to seek out these treatments and adhere to prescribed therapy regimens. Thus, this growing awareness among healthcare providers and patients contributes to the widespread adoption of vacuum therapy devices across various healthcare settings.
However, the perceived effectiveness and necessity of surgical options further contribute to the challenge of promoting vacuum therapy devices as a viable alternative, particularly when these devices are seen as supplementary rather than essential. Thus, the availability of alternatives may hamper the growth of the market.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
Based on product, the market is bifurcated into negative pressure wound therapy and vacuum constriction devices. The vacuum constriction devices segment procured 40% revenue share in the market in 2023. Vacuum constriction devices, commonly used in the treatment of erectile dysfunction (ED), have seen steady demand due to their non-invasive nature and effectiveness in managing this condition.
On the basis of end use, the market is classified into hospitals, clinics, and others. The hospitals segment acquired 62% revenue share in the market in 2023. This dominant position is largely due to the extensive use of vacuum therapy devices in hospital settings, particularly for managing complex and chronic wounds, post-surgical care, and other critical care applications.
By application, the market is divided into chronic wounds, acute wounds, and erectile dysfunction. The chronic wounds segment witnessed 52% revenue share in the market in 2023. This is primarily attributable to the extensive utilization of vacuum therapy, particularly negative pressure wound therapy (NPWT), in the treatment of chronic wounds.
Based on type, the market is segmented into non-portable vacuum therapy devices and portable vacuum therapy devices. The portable segment acquired 45% revenue share in the vacuum therapy devices market in 2023. Portable devices have gained popularity as a result of their convenience and adaptability, which enables patients to receive wound care in locations other than traditional clinical settings, such as at home or in outpatient clinics.
Free Valuable Insights: Global Vacuum Therapy Devices Market size to reach USD 2.2 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe segment witnessed 30% revenue share in the vacuum therapy devices market in 2023. Increasing rates of diabetes and other comorbidities, as well as the aging populations, have resulted in a high incidence of chronic ulcers in European countries like the United Kingdom, France, and Germany.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 1.6 Billion |
| Market size forecast in 2031 | USD 2.2 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 3.8% from 2024 to 2031 |
| Number of Pages | 256 |
| Number of Tables | 419 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product, End Use, Application, Type, Region |
| Country scope |
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| Companies Included | 3M Company, Augusta Medical Systems, Boston Scientific Corporation, Cardinal Health, Inc., Coloplast Group, Smith & Nephew plc, Medela AG, ConvaTec Inc. and B. Braun Melsungen AG |
By Product
By End Use
By Application
By Type
By Geography
This Market size is expected to reach $2.2 billion by 2031.
Rising prevalence of chronic wounds are driving the Market in coming years, however, Availability of alternative treatment options restraints the growth of the Market.
3M Company, Augusta Medical Systems, Boston Scientific Corporation, Cardinal Health, Inc., Coloplast Group, Smith & Nephew plc, Medela AG, ConvaTec Inc. and B. Braun Melsungen AG
The expected CAGR of this Market is 3.8% from 2024 to 2031.
The Negative Pressure Wound Therapy segment is leading the Market by Product in 2023; thereby, achieving a market value of $1.3 billion by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $816.1 million by 2031.
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