A recent report published by Infinium Global Research on the wound
closure devices market provides an in-depth analysis of segments and sub-segments
in the global as well as regional wound closure devices market. The study also
highlights the impact of drivers, restraints, and macro indicators on the
global and regional wound closure devices market over the short term as well as
long term. The report is a comprehensive presentation of trends, forecast, and
dollar values of the global wound closure devices market. According to the report,
the global wound closure devices market is projected to grow at a CAGR of 7.1%
over the forecast period of 2020-2026.
Wound closure devices are used in closing down a wound. It pulls
down wound edges and tissues together and helps in healing. These devices help
in minimizing the trauma of the tissue. The wound closure devices are useful in
cutting down the risk or danger of excessive scarring and infection. Every
wound closure device differs in shape and size. Its varied nature helps to
cater to a wide range of wounds.
The increasing demand for wound closure devices to improve the
therapeutic outcome and reduce hospital stay tenure contributes to the growth
of the global wound closure devices market. The rising occurrence of chronic
wounds led to increased demand for cost-effective and efficient wound healing
products. A chronic wound is a silent epidemic that affects a huge amount of the
world population. A study estimated that around 1 to 2% of the population in
developed countries experience a chronic wound during their lifetime. Further,
lifestyle diseases are majorly leading to chronic wounds such as venous leg
ulcers, diabetic foot ulcers, and pressure ulcers. The growing use of wound
closure devices in plastic and cosmetic surgeries has a positive impact on the
growth of the market. Additionally, the rise in demand for artificial
absorbable sutures propels the expansion of the wound closure devices market.
The growing number of mishaps and accidents occurring worldwide boosts the
growth of the wound closure devices market. Furthermore, the rising aging
population and growing incidences of disabilities fuel the market growth. As
per the World Health Organization, around 15% of the global population lives
with some kind of disability.
Additionally, the increasing prevalence of pressure ulcers in
nursing home patients bolsters the expansion of the wound closure devices
market. The surging number of surgical procedures worldwide promotes market
growth. The rising incidences of infectious and non-communicable diseases
accelerate the expansion of the wound closure devices market. On the flip side,
minimally invasive surgeries minimize the size of incisions made which reduces
the requirement of the wound closure devices market. Moreover, the development
of technologically advanced products creates numerous opportunities for the
growth of the wound closure devices market.
The current concerns over the spread of coronavirus have had a
positive impact on the wound closure devices market. There is increasing use of
novel adhesive suture retention wound closure devices during the COVID-19
pandemic which helps to prevent patient follow-up visits. Medical professionals
are using wound closure methods that would adequately support the patient’s
wound and reduce the need to have physical contact with them. Companies are
focused on developing advanced wound care consists of therapeutic
interventional devices that will efficiently and economically heal the wound.
Geographically, the global wound closure devices market is divided
into North America, Asia-Pacific, Europe, and the Rest of the World. North
America is expected to have a dominant share in the global wound closure
devices market. The growing number of knee replacement surgeries, aesthetic
surgeries, spinal surgeries, hip replacement surgeries in North America drives
the growth of the wound closure devices market. Asia-Pacific region is anticipated
to grow with a healthy CAGR in the global wound closure devices market. The
surge in the number of patients in hospitals and rising demand for advanced
wound closure devices in Asia-Pacific propel the growth of the wound closure
devices market in the Asia-Pacific region. Europe has significant growth
opportunities in the global wound closure devices market owing to evolving
healthcare infrastructure in the region.
The report on the global wound closure devices market covers segments
such as product, and end-use. On the basis of product, the sub-markets include
staples, adhesives, sutures, sealants, strips, and mechanical wound closure
devices. On the basis of end-use, the sub-markets include hospital, trauma
centers, clinics, and other end-uses.
The report provides profiles of the companies in the market such
as Abbott Laboratories, Integra LifeSciences Holdings Corporation, Teleflex
Medical Incorporated, Sutura Inc., Smith and Nephew plc, Radi Medical Systems,
Inc, Ethicon Inc., NeatStitch Ltd., Baxter International Inc., BSN Medical
GmbH, and Other companies.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of the wound closure
devices market. Moreover, the study highlights current market trends and
provides forecast from 2020-2026. We also have highlighted future trends in the
market that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.