Rising Demand for Wound closure devices market: TMR Study
Wound closure devices are used for the closure of the wound by pulling both the edges together. After surgical procedures, incisions and minor wounds are created owing to medical intrusions. Wound closure devices are utilized for fast recovery and healing of such wounds. The growing volume of surgical procedures is the primary reason behind the growing demand for wound closure devices. The increase in plastic surgery, burns, trauma, cosmetic surgeries, accidents, and sports-related injuries are anticipated to drive the market growth. The market is highly disjointed, and leading players have used several strategies like expansions, agreements, joint ventures, partnerships, acquisitions, new product launches, and others to increase their footprints in this market. Furthermore, advancements in technology, a decrease in the number of surgical site infections, and efforts to reduce hospital stay for reducing surgical spending contribute to the market's growth. The Wound Closure Devices Market is expected to grow at the rate of 7.56% CAGR by 2026.
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Wound Closure Devices Market by Wound Type
Chronic
Acute
Wound Closure Devices Market by End-use
Hospital
Clinics
Trauma centers
Others
Wound Closure Devices Market by Product
Mechanical wound closure devices
Adhesives
Staples
Strips
Sterile
Non-Sterile
Sutures
Absorbable
Non-absorbable
Sealants
Synthetic
Non-synthetic
Collagen-based
Wound Closure Devices Market by Geography
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North America
Europe
Asia Pacific
Rest of the World
The market has been segmented into staples, sutures, strips, sealants, adhesives, and mechanical wound closure devices based on the product. Sutures include a needle with a thread attached to it, and it derives in various sizes, shapes, and a wide variety of thread materials. The sutures market has been supplementarily segregated into absorbable and non-absorbable. The absorbable sutures market is expected to witness the fastest development over the estimated period. They are more convenient and easy-to-use compared to the non-absorbable sutures.
In terms of application, the wound closure devices market has been segmented into chronic and acute. For example, as per WHO, in South Africa, around USD xx million is spent every year on the care of burns ensuing from kerosene cooking stove incidents.
The End-users of wound closure devices are hospitals, clinics, trauma centers, and others. The hospital segment detained the largest market share in 2018 owing to the growing number of surgeries and growing cases of road accidents.
The Asia Pacific market is probable to witness the fastest development over the forecast period. The development of the market is attributable to growing medical tourism in the region.
This report include the profiles of companies that are leading the Wound Closure Devices market: 3M, Abbott Laboratories, B. Braun Melsungen AG, Ethicon Inc., Medtronic., Smith & Nephew, Baxter International, BSN medical Inc., Derma Sciences, Kinetic Concepts, ConvaTec, DACH Medical Group, Arthrex GmbH, Gecko Biomedical, Integra LifeScience, and CP Medical.
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