The global negative pressure wound therapy devices market is projected to be USD 4,698.4 million by 2030 growing at a CAGR of 7.7% during the forecast period, according to P&S Intelligence.
This growth can be ascribed to the growing incidence of burns, growing occurrence of diabetes, rising elderly populace, and high rate of C-section operations leading to the growing post-operative utilization of NPWT devices.
In the coming few years, the chronic wound category is projected to experience faster growth, on the basis of wound type. This is mainly because of the rising occurrence of illnesses like peripheral arterial occlusive illness, chronic venous deficiency, and diabetes mellitus. As aging individuals are more disposed to these medicinal circumstances, they create a significant demand for wound care items.
North America is dominating the negative-pressure wound therapy (NPWT) devices market and the continent is also projected to be dominant throughout the forecast period. This is due to the greater existence of key companies, higher healthcare spending, and growing R&D activities in the continent.
The growing incidence of burns is a main reason for boosting the development of the market for NPWT devices internationally. As per the statistics issued by the World Health Organization in 2018, a projected 180,000 demises because of burns were stated each year, the majority in low- and middle-income nations.
Hence, the growing incidence of burns, growing occurrence of diabetes, rising elderly populace, and high rate of C-section operations are the major factors contributing to the growth of the negative-pressure wound therapy (NPWT) devices industry.