Negative Pressure Wound Therapy Devices Market Regional Outlook, and Competitive Strategies
The geriatric population has been increasing at a swift pace all across the globe. The number of people aged 65 years or over is predicted to reach 1.5 billion by 2050. This is further projected to create increased burden on the healthcare industry, since aged people need to be tended to more frequently than adults. As their immune systems are weakened, they fall sick often. Moreover, physical strength also declines as a person ages, thereby putting them at increased risk of developing wounds. Ascribed to this, the globe negative pressure wound therapy (NPWT) market is predicted to generate a revenue of $4,541.5 million in 2030, increasing from $2,178.4 million in 2019, progressing at a 7.3% CAGR during the forecast period (2020–2030). A wound is covered with an airtight dressing, along with which, negative pressure is applied, in NPWT. This treatment is primarily used for acute complicated wounds and for large chronic persistent wounds. The rising geriatric population is creating...