Overview and Scope
Wound closure devices refer to internal consistency, reliability, and mechanical gear that help in wound closure by bringing wound tissue margins closer together. The wound closure devices are used to stop the bleeding, prevent infection, accelerate healing, and preserve the look and function of the damaged region.
Sizing and Forecast
The wound closure devices market size has grown strongly in recent years. It will grow from $15.82 billion in 2023 to $17.13 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to increasing surgical procedures, growing aging population, prevalence of chronic diseases, rise in traumatic injuries, shift to minimally invasive surgeries, patient preference for aesthetic closure, hospital and ambulatory care settings..
The wound closure devices market size is expected to see strong growth in the next few years. It will grow to $23.31 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to patient safety and infection control, telemedicine and remote wound care, biodegradable closure devices, home healthcare and self-care, global health emergency preparedness, expansion of outpatient procedures, value-based healthcare models.. Major trends in the forecast period include rise in minimally invasive wound closure techniques, focus on accelerated wound healing, growing demand for hemostats and sealants, shift toward disposable wound closure devices, regulatory initiatives for patient safety..
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Segmentation & Regional Insights
The wound closure devices market covered in this report is segmented –
1) By Product Type: Adhesives, Staples, Sutures, Strips, Sealants, Mechanical Wound Closure Devices
2) By Wound Type: Chronic, Acute
3) By End-Use: Hospital, Clinics, Trauma centers, Other End-Users
Top 5 Major Players:
- Abbott Laboratories
- Advanced Medical Solutions Group PLC
- Arthrex Inc
- B Braun Melsungen AG
- Baxter International Inc
North America was the largest region in the wound closure devices market in 2023. The regions covered in the wound closure devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in number of patients undergoing surgeries is expected to propel the growth of the wound closure devices market going forward. Surgery refers to a medical specialty that employs operative manual and instrumental procedures on a person to evaluate or treat a pathological condition, such as a sickness or injury, to enhance body function and attractiveness, or to mend undesirable ruptured regions. Wound closure devices are used to treat chronic, traumatic, and surgical wounds, skin grafts, and flaps. For instance, in April 2022, according to the American Society for Aesthetic Plastic Surgery, a US-based organization of plastic surgeons, there has been a considerable growth in operations on the face, breast, and body. Since 2020, attractive body operations such as abdominoplasty, buttock augmentation, and liposuction have climbed by 63%. Breast augmentation, augmentation with a breast lift, and breast lift with reduction treatments increased by 48%. Last year, specialized facial surgeries such as brow lifts and facelifts increased by 54%. Therefore, the increasing number of patients undergoing surgeries is driving the growth of the wound closure devices market.
Key Industry Players
Major companies operating in the wound closure devices market report are Abbott Laboratories, Advanced Medical Solutions Group plc, Arthrex Inc., B Braun Melsungen AG, Baxter International Inc., Boston Scientific Corporation, BSN Medical GmbH, Chemence Medical Inc., Coloplast A/S, ConvaTec Group plc, CryoLife Inc., Dach Medical Group Holding AG, DeRoyal Industries Inc., Futura Surgicare Pvt. Ltd., Futura Surgicare Private Limited, Healthium Medtech Private Limited, Integra LifeSciences Corporation, IVT Medical Limited, Johnson & Johnson Services Inc., Meril Life Sciences Private Limited, 3M Company, Adhezion Biomedical LLC, Becton, Dickinson and Company, Medtronic Inc., Halyard Health Inc., McKesson Corp., Medline Industries LP, Molnlycke Health Care Ltd., Myco Medical Supplies Inc., Nexus Medical Ltd., Smith & Nephew plc, Smiths Group plc, Stryker Corp., Teleflex Inc., Wound Care Technologies Inc., Zipline Medical Inc.
The wound closure devices market report table of contents includes:
1. Executive Summary
2. Wound Closure Devices Market Characteristics
3. Wound Closure Devices Market Trends And Strategies
4. Wound Closure Devices Market – Macro Economic Scenario
5. Global Wound Closure Devices Market Size and Growth
…..
31. Global Wound Closure Devices Market Competitive Benchmarking
32. Global Wound Closure Devices Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Wound Closure Devices Market
34. Wound Closure Devices Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Wound Closure Devices Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Wound Closure Devices Market, Segmentation By Wound Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Wound Closure Devices Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
…..
Table 74: Abbott Laboratories Financial Performance
Table 75: Advanced Medical Solutions Group plc Financial Performance
Table 76: Arthrex Inc. Financial Performance
Table 77: B Braun Melsungen AG Financial Performance
Table 78: Baxter International Inc. Financial Performance
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