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Global Wound Closure Devices Market – Industry Trends and Forecast to 2029

  • Healthcare
  • Upcoming Report
  • Jul 2022
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220
  • Healthcare
  • Upcoming Report
  • Jul 2022
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220

Global Wound Closure Devices Market, By Product Type (Adhesives, Staples, Sutures, Sealants, Mechanical Devices), Wound Type (Acute Wound, Chronic Wound), Application (Burns, Ulcer, Surgical Wounds, Pressure Ulcers, Diabetic Ulcers, Arterial Ulcers), End User (Hospitals, Community Healthcare Service Providers, Ambulatory Surgical Centers, Home Care), – Industry Trends and Forecast to 2029

Wound Closure Devices Market

Market Analysis and Size

The incidence rate of venous leg ulcers ranges from 0.18 percent to 1.0 percent, according to the National Center for Biotechnology Information (NCBI). Venous leg ulcers are the most advanced type of chronic venous illness, with a recurrence rate of approximately 70%. With the increased prevalence of chronic diseases, the demand for wound closure devices is expected to rise. The rising incidence of chronic illnesses such as autoimmune disorders, diabetes, and cancer is one of the major factors contributing to an increase in the number of operations performed.

Data Bridge Market Research analyses that the wound closure devices market is expected to reach the value of USD 13.41 billion by the year 2029, at a CAGR of 4.16% during the forecast period. The rise in the healthcare sector is propelling the wound closure device market forward.

Market Definition

Wound closure devices are the types of devices that aid in the closure of a wound. The process entails pulling the wound edges and tissues together, which aids in healing. Wound closure devices include strips, adhesives, sutures, mechanical wound closure devices, and staples

Report scope and market segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2019 - 2014)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

By Product Type (Adhesives, Staples, Sutures, Sealants, Mechanical Devices), Wound Type (Acute Wound, Chronic Wound), Application (Burns, Ulcer, Surgical Wounds, Pressure Ulcers, Diabetic Ulcers, Arterial Ulcers), End User (Hospitals, Community Healthcare Service Providers, Ambulatory Surgical Centers, Home Care)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Market Players Covered

Mölnlycke Health Care AB. (Sweden), Smith & Nephew plc (UK), Medline Industries, Inc. (US), AVITA Medical, (UK) ConvaTec Inc. (UK), Cytori Therapeutics Inc. (US), Human BioSciences (US), Stryker Corporation (US), Organogenesis Inc. (US), and Wright Medical Group N.V. (US)

Opportunities

  • Increase in the number of surgeries around the world
  • The rise in demand for these devices, which help in strengthening the injured tissue and minimising tissue trauma
  • The increase in the incidence of disabilities, accelerate market growth.

Wound closure devices Market Dynamics

Drivers

  • The increased surgeries around the world

One of the major factors driving the growth of the wound closure devices market is the increase in the number of surgeries around the world. The rise in demand for these devices, which help in strengthening the injured tissue and minimising tissue trauma, as well as the increase in the incidence of disabilities, accelerate market growth.

Development of better treatment as well as rise in chronic wounds

The devices' widespread use as a means of reducing the risk or danger of excessive scarring and infection, as well as the rise in the incidence of chronic wounds such as diabetic foot ulcers, venous leg ulcers, and pressure ulcers, all have an impact on the market.

Regulatory Compliance

Maintaining compliance with medical reforms and diagnostics raises the demand for these solutions.

  • Government investments for healthcare interoperability

The increase in the funding by the federal government to drive the adoption of these solutions further influence the market. Additionally, the surge in healthcare expenditure, advancements in healthcare infrastructure, and high demand for expanded care delivery positively affect the wound closure devices market.

Opportunities

The increase in the geriatric population, the increase in the number of accidents, the increase in healthcare expenditure, and the prevalence of chronic wounds all have a positive impact on the wound closure devices market.

Restraints/Challenges

The increasing preference for minimally invasive surgeries is expected to stymie market growth. Infection and side effect concerns are expected to pose a challenge to the wound closure devices market during the forecast period.

This wound closure devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the wound closure devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Wound closure devices Market

Since the outbreak of the COVID-19 pandemic, the wound closure device market has suffered. Over 28 million planned surgeries have been cancelled around the world as a result of the pandemic, which has significantly slowed the growth of wound closure devices. During the pandemic, the majority of hospitals worldwide either postponed or cancelled their planned elective surgeries, severely limiting the use of advanced wound closure devices. With developed countries such as the United States, Germany, and the United Kingdom suspending elective, specialty, and other surgeries to avoid exposure to the potential infection environment and to prioritise COVID-19 treatment, the global market's revenue has plummeted.

Global Wound Closure Devices Market Scope

The wound closure devices market is segmented on the basis of product type, wound type, application, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product type                                                                      

  • Adhesives
  • Staples
  • Sutures
  • Sealants
  • Mechanical devices

On the basis of product type, the wound closure devices market is segmented into adhesives, staples, sutures, sealants and mechanical devices. Adhesives are further segmented into fibrin tissue adhesives and cyanoacrylates. Sutures segment has been further divided into absorbable, non-absorbable, braided, and monofilament. Strips are further segmented into sterile and non-sterile. Sealants are further segmented into synthetic, non-synthetic and collagen-based.

Wound type

  • Acute wound
  • Chronic wound

On the basis of wound type, the wound closure devices market is segmented into acute wound and chronic wound.

Application

  • Burns
  • Ulcer
  • Surgical wounds
  • Pressure ulcers
  • Diabetic ulcers
  • Arterial ulcers

On the basis of application, the wound closure devices market is segmented into burns, ulcer, surgical wounds, pressure ulcers, diabetic ulcers and arterial ulcers.

End User

  • Hospitals
  • Community healthcare service providers
  • Ambulatory surgical centers
  • Home care

On the basis of end user, the wound closure devices market is segmented into hospitals, community healthcare service providers, ambulatory surgical centers and home care.

Wound Closure Devices Market Regional Analysis/Insights

The wound closure devices market is analysed and market size insights and trends are provided by country, product type, wound type, application, and end user referenced above.

The countries covered in the wound closure devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the wound closure devices market due to the presence of major players and the increasing number of patients undergoing surgeries in the region. Asia-Pacific is expected to grow significantly from 2021 to 2028 as a result of rising medical tourism in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The wound closure devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for wound closure devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the wound closure devices market. The data is available for historic period 2010-2020.

Competitive Landscape and Wound Closure Devices Market Share Analysis

The wound closure devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to wound closure devices market.

Some of the major players operating in the wound closure devices market are

  • Mölnlycke Health Care AB. (Sweden)
  • Smith & Nephew plc (UK)
  • Medline Industries, Inc. (US)
  • AVITA Medical, (UK)
  • ConvaTec Inc. (UK)
  • Cytori Therapeutics Inc. (US)
  • Human BioSciences (US)
  • Stryker Corporation (US)
  • Organogenesis Inc. (US)
  • Wright Medical Group N.V. (US)


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Frequently Asked Questions

The market value for wound closure devices market is anticipated to reach USD 13.41 Billion by 2029.
The Wound Closure Devices Market is to grow at a CAGR of 4.16% during the forecast by 2029.
On the basis of product, the Wound Closure Devices Market is segmented into Adhesives, Staples, Sutures, Sealants, Mechanical Devices.
On the basis of application, the Wound Closure Devices Market is segmented into Burns, Ulcer, Surgical Wounds, Pressure Ulcers, Diabetic Ulcers, Arterial Ulcers.