Market Overview
Wound
closure devices market is used for closing the wound by pulling both the edges
together. These devices can help a patient to recover and heal the incisions
and small wounds that are created on the body due to surgical procedures.
The Wound
Closure Devices Market Share is expected to reach USD 18.84 billion by 2032
at 7.2% CAGR during the forecast period 2023-2032.
The prime
market driver for the global wound closure device market growth is the surge in
the surgical procedures. Other market drivers include increasing number of
plastic as well as cosmetic surgeries, increasing number of accidents as well
as injuries (burns and trauma included), technological advancement, new device
launches, decrease in several surgical site infections, and increasing attempts
to reduce hospital stays for reducing surgical expenditure. However, the risk
associated with side effects of wound closure devices, infectious wounds, and
unfavorable reimbursement policies can slow down market growth.
Key Players
The global
wound closure device market players include
·
3M (USA),
·
Abbott Laboratories (USA),
·
Arthrex GmbH (USA),
·
Baxter International (USA),
·
B. Braun Melsungen AG (Germany),
·
BSN Medical Inc. (Germany),
·
ConvaTec (UK),
·
CP Medical (USA),
·
DACH Medical Group (Austria),
·
Derma Sciences (USA),
·
Ethicon Inc. (USA),
·
Gecko Biomedical (France),
·
Integra LifeScience
(USA),
·
Kinetic Concepts (USA),
·
Medtronic (Ireland), and
·
Smith & Nephew (UK).
Market Segmentation
The global wound closure device market outlook segmentation encompasses
application, device, end-user, and type of wound. MRFR’s take on the market
explores various facets of the market in-depth.
·
The application-based segmentation of this market covers burns, ulcers, arterial
ulcers, diabetic ulcers, pressure ulcers, and surgical wounds.
·
Based on end-user, the market has been segmented into ambulatory surgical centers,
community healthcare service providers, hospitals, and home care.
·
By type of wound, the market has been segmented into acute wounds, chronic wounds, and
others.
·
Regarding device, the market has been segmented into adhesives, mechanical wound closure
devices, staples, and sutures. The adhesives segment has been sub-segmented
cyanoacrylates and fibrin tissue adhesives. The sutures segment can be
sub-segmented into absorbable, non- absorbable, braided, and monofilament.
Regional Segmentation
A
geographical outlining of the global wound closure device market covers the
Americas (North America & South America), Asia Pacific, Europe, and the
Middle East & Africa (MEA).
The
Americas is the largest regional market. Due to technological advancement and
the availability of advanced medical facilities, presence of major market
players, high disposable income, and more investment in healthcare, North
America is a bigger regional market segment compared to South America.
Increasing injuries related to accidents, adventures, and sports and is leading
to the demand for better facilities for surgery, subsequently leading to market
growth. Other factors boosting the market in North America and to some extent
South America are, aging population, and increase in the number of surgical
procedures. Adoption of the wound closure technology and awareness about the
same are also aiding growth in North America. The adoption is comparatively
slow in South America, limiting market growth.
Europe is
the second-largest regional market due to increase in aged population and
rising occurrence of sports injuries as well as accidents (especially road
accidents). The powerful country-specific markets in Western Europe are France,
Germany, Italy, Spain, and the UK. An observation of the remaining countries in
Western Europe featured in this report speculate the huge addition to market
revenue from some other countries in this region, along with a sizable amount
of revenue from Eastern Europe.
During the
forecast period, the Asia Pacific region has been predicted to be the
fastest-growing regional market due to the significant increase in aged
population, and increasing prevalence of chronic ailments like diabetes, which
subsequently lead to the increasing cases of diabetic foot ulcer. Vital
country-specific markets in this region are Australia, China, India, Japan, and
South Korea. An analysis of the remaining countries in the Asia Pacific region
featured in this report estimates the huge contribution to market revenue from
some other countries.
The MEA
region holds the smallest market share in the global market due to lack of
technical knowledge, poor medical facilities, and underdeveloped healthcare
sector.
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