What are Key Factors Driving the Growth of Negative Pressure Wound Therapy Market?

The rising prevalence of burn cases in several countries is the major factor pushing the demand for negative pressure wound therapy (NPWT) across the world. As per the statistics published by the World Health Organization (WHO) in 2018, around 180,000 deaths occur every year due to burns, most of them in middle- and low-income countries. In India, more than 1,000,000 people suffer from moderate or severe burns every year. Moreover, in countries like Egypt, Bangladesh, Colombia, and Pakistan, 18% and 17% of the children with burns have permanent and temporary disability, respectively. 

Driven by the above-mentioned factors, the global negative pressure wound therapy market attained a value of $2,057.1 million in 2018. The market is expected to reach revenue of $3,001.3 million by 2024, with a CAGR of 6.6% during the forecast period (2019–2024). NPWT is widely used in the treatment of chronic and acute wounds. Of these, chronic wounds are expected to record the higher use of NPWT during the forecast period, owing to the rising occurrence of obesity, cardiovascular diseases, and diabetes, mainly on account of the sedentary lifestyle; all these diseases result in long-lasting wounds.

The biggest rage currently being observed in the NPWT market is the increasing popularity of advanced wound therapies over the traditional ones, throughout the world. This is mainly attributed to the faster patient recovery and healing offered by the advanced therapies as compared to the conventional therapies. According to an article published by the National Center for Biotechnology Information in 2018, NPWT is better for wound care, as it enhances collagen and protein production and reduces bacteria colonization in patients, which is why it is gaining popularity across the world.

Hence, owing to the soaring geriatric population across the globe, increasing incidence of chronic ailments, and rapid advancements in wound treatment products, the demand for negative pressure wound therapy is expected to witness tremendous growth in the coming years.