According to research report the NPWT devices market is expected to reach USD 2.72 billion by 2023 from USD 2.11 billion in 2018, at a CAGR of 5.2%.
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The report studies the market on the basis of product type, wound type, end user, and region.
By product type, the NPWT devices market is segmented into conventional NPWT devices, single-use NPWT devices, and accessories. Single-use NPWT devices are expected to account for the fastest growing segment of the market during the forecast period. Single-use NPWT devices are low-cost, small, and discreet NPWT systems, which incorporate simplified functionalities by removing the need for canisters and simplifying the dressing interface, these benefits are driving the growth of this segment.
Based on wound type, the NPWT devices market is segmented into surgical and traumatic wounds, ulcers, and burns. Surgical and traumatic wounds accounted for the fastest growing segment in the NPWT devices market. Market growth can primarily be attributed to the increasing incidence of chronic and acute diseases and supportive government initiatives in the prevention of surgical site infections (SSIs).
By end user, the NPWT devices market is classified into hospitals, home care settings, and other end users. The home care settings segment in NPWT devices market is expected to grow at the fastest rate during the forecast period. The growth of this end-user segment can be attributed to the growing adoption of single-use NPWT devices for home care specifically in developed economies such as the US, the UK, and Germany.
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The NPWT devices market is geographically segmented into North America, Europe, Asia, and the Rest of the World (RoW). Asia is expected to register the highest CAGR in the market during the forecast period. Growth in this regional segment is largely driven by the large patient population and high prevalence of diabetes in this region.