The Wound Closure Devices Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Wound Closure Devices Global Market Report 2024, 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..
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.
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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
Technological advancements are a key trend gaining popularity in the wound closure devices market. Major companies operating in the wound closure devices market are focused on developing new technological solutions flexible across other elements to gain a competitive edge in the market. For instance, in March 2021, Ethicon Endo-Surgery, a US-based advanced medical device company, launched an ECHELONTM+ Stapler with GST Reloads, a new powered surgical stapler that has been designed for increasing staple line security and will reduce complications through uniform tissue compression and better staple formation, even in challenging situations. This has Gripping Surface Technology (GST) reloads for more consistent compression to better capture and form staples, and a motor with Dynamic Firing, which optimizes firing speed in thick tissue to improve compression.
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
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