The global negative pressure wound therapy (NPWT) devices market had a valuation of $2,178.4 million in 2019. According to the forecast of P&S Intelligence, a market research company based in India, the market will generate a revenue of $4,541.5 million by 2030. Furthermore, the market is predicted to demonstrate a CAGR of 7.3% between 2020 and 2030. The rising incidence of diabetes and the soaring geriatric population are the main factors driving the progress of the market.

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Furthermore, as much as 34.5% of the adults in the country were diagnosed with prediabetes in 2018. Besides this, the rising occurrence rate of burns is also propelling the growth of the negative pressure wound therapy devices market across the globe. As per the World Health Organization (WHO), 180,000 deaths occur because of burns all over the world every year. The organization also found that the low- and middle-income countries witness a majority of the deaths caused because of burns.

Based on product, the negative pressure wound therapy devices market is categorized into single-use, accessories, and conventional. Out of these, the single-use category is predicted to register the fastest growth in the market in the future years. This will be because of the launch of several new products by the players operating in the industry, the rapid technological advancements and innovations being made in single-use NPWT devices, and the easy-to-use and portable characteristics of these systems.

Hence, it can be said with full confidence that the market will register substantial growth across the world in the future years, mainly because of the rising incidence of diabetes, the soaring occurrence rate of burns, and the surging population of geriatric people in several countries.