Wound Closure Devices Market Overview:
The global wound closure devices market Growth is expected to exhibit a strong 6.9% CAGR over the forecast period The steep rise in the volume of surgical procedures owing to surging cases of road accidents, sports injuries, burns, and other surgical procedures have subsequently generated high demand for wound closure devices and boosted the growth of the global wound closure device market.
Wound closure devices are used to sew up wounds after surgical procedures or trauma. These include bandages, staples, and other variants. The growing healthcare sector and increasing awareness about advanced wound closure devices are likely to be the major factors driving the global wound closure devices market over the forecast period. Innovation in the wound closure devices market is rife, with many players looking to come up with advanced ways of sewing wounds and enabling quick recovery. Developing efficient wound closure devices that help heal the underlying wound is likely to be a major target for players in the global wound closure devices market over the forecast period. Adding healing factors and making wound closure devices medicinal in themselves is also likely to be a key target for players in the global wound closure devices market.
Wound Closure Devices Market Top Companies:
CP Medical
Integra Lifescience
Gecko Biomedical
Arthrex GmbH
DACH Medical Group
ConvaTec
Kinetic Concepts
Derma Sciences
BSN Medical Inc.
Baxter International
Smith & Nephew
Medtronic
Ethicon Inc.
B Braun Melsungen AG
Abbott Laboratories
3M
Wound Closure Devices Market Segmental Analysis:
The global wound closure device market has been segmented based on device, application, and end user.
By device, the global new wound closure technology market has been segmented into adhesives, staples, sutures, and mechanical wound closure devices. The adhesives segment has been further segmented into fibrin tissue adhesives and cyanoacrylates. The sutures segment has been further segmented into absorbable, non- absorbable, braided, and monofilament.
By application, the global wound closure device market has been segmented into burns, ulcers, surgical wounds, pressure ulcers, diabetic ulcers, and arterial ulcers. The surgical wounds segment has been further segmented into chronic wounds, acute wounds, and others.
By end user, the global wound closure device market has been segmented into hospitals, community healthcare service providers, ambulatory surgical centers, and home care.
Wound Closure Devices Market Regional Overview:
The Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA) are the key markets for wound closure device.
The Americas account for the majority share of the global wound closure device market. Rise in a number of surgical procedure, increasing incidences of road accidents, sports injuries and orthopedic surgeries in the region spur demand for wound closure devices. As per the American Association for the Surgery of Trauma, approximately over 150,000 deaths due to injuries and over 3 million non-fatal injuries are reported in the US every year. Well spread awareness regarding wound closure technology and high healthcare spending are other factors.
Europe is the second largest market for wound closure suppliers. Increase in the occurrence of sports injuries and accidents, as well as rise in number of surgical procedures due to growing aging population, are factors driving Europe wound closure device market.
APAC is poised to be the fastest growing market for wound closure device. A key factor influencing the growth of the market is the widespread prevalence of chronic diseases in the region, especially diabetes which results in delayed wound healing and in turn, boosts the market for wound closure device. Diabetic foot ulcers are very common in APAC. Increased healthcare spending and increasing awareness regarding wound closure devices have further driven the market.
The MEA market accounts for the minority share of the global wound closure device market. Underdeveloped healthcare sector, poor medical facilities, and low healthcare spending are factors that limit market growth.
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