Wound Closure Devices Market Size to Hit USD 13.41 Billion by 2029
Global Wound Closure Devices Market research report is a resource, which offers current as well as upcoming technical and financial details of the Healthcare industry for the specific forecast period. The report exhibits important product developments and tracks recent acquisitions, mergers and research in the Healthcare industry by the key players. A team of enthusiastic, dynamic and skilled researchers and analysts work with full dedication to provide our clients with the supreme market research report. The superior Global Wound Closure Devices Market report can be referred efficiently by both traditional and new players in the industry for complete knowhow of the market.
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.
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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.
Market Overview
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
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.
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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)
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the this research report
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Top Key Topics Covered:
- Strategic Imperatives
- Factors Creating Pressure on Growth
- The Strategic Imperative
- Growth Opportunities Fuel the Growth Pipeline Engine
- Research Methodology
- Scope and Segmentation
- Research Context and Scope of Analysis
- Segmentation
- Other Techniques for This Research Report Management
- Growth Opportunity Analysis
- Growth Drivers
- Growth Restraints
- Introduction
- The Impact of the COVID-19 Pandemic and Post
- Future Growth
- Innovation Ecosystem
Continued…
Wound Closure Devices Market Scope
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.
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Some of the Most Important Questions Scrutinized in the Business Intelligence Report:
- What are the key growth parameters for this global market during the forecast period?
- Which key players are expected to hold the largest market share over the forecast period?
- Who are the leading vendors and manufacturers in this market?
- What are the key strategies adopted by leading players in the market for business development and geographical expansion?
- Which end-use industries can trigger high demand in the market over the forecast period?
- What are the key segments in this market?
- Which regional player will have anticipated leading the global market in terms of size?
- What is the impact of the novel coronavirus pandemic?
- Which obstacles must new players overcome in order to occupy a major position?
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