The negative-pressure wound therapy devices market will grow at a rate of 7.7% to reach USD 4,698.4 million by 2030.
The main factors accountable for the industry growth include the growing burn cases, expanding incidence of diabetes, increasing elderly population, and high rate of C-section surgeries leading to the growing post-operative usage of NPWT devices.
Chronic wounds will grow faster in the years to come, on the basis of wound type. This is majorly credited to the increasing incidence of peripheral arterial occlusive disease, chronic venous insufficiency, and diabetes mellitus. Since aging people are more susceptible to these kinds of medical conditions, they create a substantial requirement for wound care products.
Hospitals and clinics are the principal revenue-generating users in the industry. This has a lot to do with the greater patient footfall and growing accessibility of hospitals to individuals of all income levels.
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North America will have the major share in the industry, as per a report by P&S Intelligence. This has a lot to do with the greater existence of market players, advanced healthcare expenditure, and growing R&D activities.
APAC negative-pressure wound therapy devices market will grow the fastest in the years to come because of the rising elderly population, surging cases of burns and traumatic wounds, and large populace.
Worldwide, the patient preference is shifting toward advanced wound therapies from traditional ones, thus making the former a key trend in the market. Advanced wound care bid quick recovery of the patients by quickening the healing procedure.
The increasing burn cases are propelling the progress of the market globally.
As per WHO in 2018, about 180,000 deaths owing to burns were reported on a yearly basis, the most of them happening in LMICs.
Also, burns are one of the key causes of DALY. As per WHO, in 2020, more than 96% of the fatal fire-related burns happened in LMICs, which is a key reason for the increasing requirement for NPWT devices.
The diabetic patient count is on the rise rapidly, which the key reason for the growth of the market. Diabetic foot ulcer is a lasting complication of diabetes mellitus requiring regular dressing. Moreover, in diabetic patients, wounds heal slowly.
As per the CDC, in 2020, over 34.2 million people suffered from diabetes in the U.S. and 34.5% of the adults were pre-diabetic. Furthermore, newly diagnosed cases of type 1 and 2 diabetes have gone up among the young populace of the nation.
The growing elderly population all over the world has a positive impact on the demand for negative-pressure wound therapy devices, and the requirement for these devices will grow even more in the years to come.