Wound Closure Market accounted for US$ 15.11 billion in 2020 and is estimated to be US$ 31.08 billion by 2030 and is anticipated to register a CAGR of 7.50%. Injury to any of the tissues of the body, especially that caused by physical means and with interruption of continuity is defined as a wound. Wounds are classified into acute and chronic wounds. Advanced wound care & closure products are emerging as a standard solution for treating chronic wounds. Traditional wound care and closure products are being increasingly substituted with advanced wound closure products due to their efficacy and effectiveness in managing wounds by enabling faster healing.
The report “Global Wound closure Market, By Product Type (Moist Wound Dressings, Wound Therapy Devices, and Active Wound Care), By Wound Type (Surgical Wounds, Ulcers, Traumatic Wounds, Burns and Other Wounds), By End-User (Hospitals, Clinics, and Ambulatory Surgical Units) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)- Trends, Analysis and Forecast till 2030”
Key Highlights:
· In 2020, Dolphin Sutures, based out of Bangalore, has added another new feather in its innovation cap by launching Durabarb-a knotless wound closure device designed to redefine the suturing experience for surgeons and paves the way for the development of entirely new surgical approaches that will transform the surgeons’ tissue repair and restoration experience, representing the future of wound closure.
Analyst View:
Increasing cases of surgical wounds, Ulcers, and associated cases of surgical site infections (SSIs) incidences across the globe is a major factor driving growth of the global wound closure market. In addition, rising incidences of chronic and sub-chronic wounds across the globe in another factor expected to propel growth of the target market in the near future. High consumer base of knee replacement surgeries, aesthetic surgeries, spinal fusions and hip replacement surgeries also drives the market of wound closure.
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Key Market Insights from the report:
The Global Wound Closure Market accounted for US$ 15.11 billion in 2020 and is estimated to be US$ 31.08 billion by 2030 and is anticipated to register a CAGR of 7.50%. The global wound closure market has been segmented on the basis of product type, wound type, end user, and region.
· Based on product type, the Global Wound Closure Market is segmented into the Moist Wound Dressings, Wound Therapy Devices, and Active Wound Care.
· By wound type, the target market is segmented into Surgical Wounds, Ulcers, Traumatic Wounds, Burns and Other Wounds.
· By end-user, the target market is segmented into Hospitals, Clinics, and Ambulatory Surgical Units.
· By region, the Global Wound Closure Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the Global Wound Closure Market in terms of revenue contribution as related to that of markets in other regions.
Competitive Landscape:
The Key players operating in the global wound closure market includes Acelity L.P.Inc., Smith & Nephew plc, Johnson & Johnson, B. Braun Melsungen AG, ConvaTec Group plc, Baxter International Inc., Integra LifeSciences Corporation, Medtronic plc, Molnlycke Health Care AB, and Cardinal Health, Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
