Global Wound Closure Devices Market By Device (Adhesives, Staples, Sutures, Mechanical Devices), Application (Burns, Ulcer, Surgical Wounds, Pressure Ulcers, Diabetic Ulcers, Arterial Ulcers), Type of Wound (Acute Wound, Chronic Wound), End User (Hospitals, Community Healthcare Service Providers, Ambulatory Surgical Centers, Home Care), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Wound Closure Devices Market
Global wound closure devices market is registering a substantial CAGR of 7.07% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. The rise in the market can be attributed to the surging demand for the reduction in the surgical expenditure, and the capability of enhancing the therapeutic outcome by reducing the hospital stay, is driving the growth of the market.
Market Definition: Global Wound Closure Devices Market
Wound closure devices are instruments which are used to close the wound from the edges so that recovery can be made. These devices are usually used by the surgeon at the time of surgeries. The various devices such as strips aid, mechanical wound closure devices, adhesives, staples and sutures are used which helps to reduce the risk of infection by minimizing the tissue trauma and preventing blood loss. These devices have gained a lot of attention due to technological advancement in the field of surgery.
- The surge in the cosmetic and plastic surgeries has driven the market growth
- The rising incidences of burns and traumas is boosting the market growth
- The sport related injuries have increased which has propelled the market growth
- Various technological advancements in surgical field has contributed to the growth of the market
- The minimally invasive surgeries demand have increased which has hindered the market growth
- The reimbursement policies are unfavorable which may hamper the market growth
- Various side effects associated with the wound closure device has restrain the market growth
Segmentation: Global Wound Closure Devices Market
- Fibrin Tissue Adhesives
- Non- Absorbable
- Mechanical Devices
- Surgical Wounds
- Pressure Ulcers
- Diabetic Ulcers
- Arterial Ulcers
By Type of Wound
- Acute Wound
- Chronic Wound
By End User
- Community Healthcare Service Providers
- Ambulatory Surgical Centers
- Home Care
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- South Africa
- Rest of Middle East & Africa
Key Developments in the Market:
- In February 2019, Teleflex Incorporated received the FDA approval for wound closure devices which will increase their wound healing capabilities. The device is intended for large bore femoral arterial access site closure. This approval will help the company in increasing the customer acquisition rate as this device facilitates fast and reliable wound closure.
- In March 2017, Ethicon US LLC and DePuy Synthes introduced a customized wound closure kit. It was launched to improve efficiencies and to improve the patient outcomes in orthopedic surgery. This launch has increased the product portfolio of the company as well as increases their customer experience.
Global wound closure devices market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of wound closure devices market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major market competitors currently working in the global wound closure devices market are Medtronic, Abbott, Ethicon US LLC., Integra LifeSciences Corporation, Radcliffe Cardiology, B. Braun Melsungen AG, BSN medical, Smith & Nephew., Baxter, KCI Licensing Inc., 3M, Teleflex Incorporated, ConvaTec Group PLC, Coloplast, TISSIUM, Arthrex Inc., DACH Medical Group, IVT Medical Ltd., Dolphin Sutures, Johnson & Johnson Services Inc., Boston Scientific Corporation, Welfare Medical Ltd., Riverpoint Medical and CryoLife Inc. among others.
Research Methodology: Global Wound Closure Devices Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global wound closure devices market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)