Market Overview:
The global wound closure products market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to factors such as rising incidence of chronic wounds, increasing demand for minimally invasive surgeries, and technological advancements in wound closure products. Based on type, the global wound closure products market is segmented into sutures, surgical staples, wound closure strips, adhesives and tissue sealants, and hemostats. Sutures are the most commonly used type of wound closure product and are expected to dominate the market during the forecast period. Based on application, the global wound closure products market is segmented into hospitals, clinics,, and others (including research institutes). Hospitals accounted for a majority share of the global market in 2017 owing to increased use of advanced technologies for surgical procedures in this sector. However,. clinics are projected to witness highest growth duringthe forecast period due to rising demand for outpatient surgeries.
Product Definition:
Wound closure products are medical devices that are used to close wounds. They may be used to close a wound that has been surgically created, or to close a wound that has been caused by an accident or injury. There are many different types of wound closure products available, and each one has its own unique benefits and drawbacks. Some of the most common types of wound closure products include sutures, staples, adhesive bandages, and surgical glue.
Sutures:
Sutures, also known as surgical sutures or needleless sutures are used for closing wounds. Sutures market is expected to witness lucrative growth over the forecast period owing to increasing number of surgeries globally and rising prevalence of chronic diseases such as diabetes, cancer & other autoimmune disorders. According to the American Cancer Society estimates in 2018, 1 out 2 women and 1 out 4 men in U.S will be affected by some type of cancer during their lifetime.
Surgical Staples:
Staples are used for wound closure and are also known as sutures or staplers. Surgical staples can be differentiated from surgical sutures in that staples have longer, stronger, barbed heads that allow them to deeper into the body than sutures. The staple line is usually created before surgery by shaving or cutting a small area of hair from the skin and using it to outline the desired shape of the wound.
Application Insights:
The hospital application segment led the global wound closure products market in 2017. The segment is anticipated to expand at a steady CAGR over the forecast period owing to an increase in the number of surgical procedures and rising healthcare spending. According to WHO, healthcare expenditure worldwide was USD 9,000 billion in 2016 and is expected to reach around USD 11,000 billion by 2026. Growing awareness about better treatment options for chronic wounds is also likely to drive growth during this period.
The others segment includes care at home or other non-healthcare facilities such as schools or factories where professional medical attention may not be readily available.
Regional Analysis:
North America dominated the global market in 2017. The presence of well-established healthcare infrastructure, high patient awareness levels coupled with relatively higher healthcare spending in this region are some factors responsible for its large share. Moreover, the availability of skilled professionals and advanced technology is also expected to drive growth during the forecast period.
Asia Pacific is anticipated to witness lucrative growth over the coming years owing to increasing cases of chronic wounds and trauma injuries as well as rising geriatric population in this region. In addition, improving economic conditions are also likely to contribute toward regional expansion during the forecast period. Furthermore, government initiatives such as “One Health†initiative by WHO may further boost demand for these products across Asia Pacific countries at a significant pace over next few years due to growing concerns regarding zoonotic transmission of diseases from animals/pets or humans (CDC 2014).
Growth Factors:
- Increasing incidence of chronic wounds: The global wound closure products market is expected to grow at a CAGR of 5.5% from 2016 to 2021, owing to the increasing incidence of chronic wounds. According to a study by the National Institute of Health, around 6.7 million people in the U.S suffer from chronic wounds, which account for more than billion in annual healthcare costs
- Rising demand for minimally invasive procedures: The demand for minimally invasive procedures is rising due to their benefits such as shorter hospital stays and reduced pain and scarring. This is driving the growth of the wound closure products market
- Growing geriatric population: The global geriatric population is growing at a rapid pace and this is leading to an increase in the prevalence of age-related diseases such as diabetes and obesity, which are associated with increased risk of developing chronic wounds
- Technological advancements: There has been significant technological advancement in wound closure products over the past few years, resulting in better patient outcomes. This is driving demand for these products
Scope Of The Report
Report Attributes
Report Details
Report Title
Wound Closure Products Market Research Report
By Type
Sutures, Surgical Staples, Wound Closure Strips, Adhesives and Tissue Sealants, Hemostats
By Application
Hospital, Clinic, Others
By Companies
M Health Care, Smith & Nephew, Biomet, Covidien - Medtronic, Derma Sciences, Ethicon, Kinetic Concepts, Medline Industries, Smith & Nephew, B. Braun Melsungen AG, M Health Care
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
153
Number of Tables & Figures
108
Customization Available
Yes, the report can be customized as per your need.
Global Wound Closure Products Market Report Segments:
The global Wound Closure Products market is segmented on the basis of:
Types
Sutures, Surgical Staples, Wound Closure Strips, Adhesives and Tissue Sealants, Hemostats
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospital, Clinic, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- M Health Care
- Smith & Nephew
- Biomet
- Covidien - Medtronic
- Derma Sciences
- Ethicon
- Kinetic Concepts
- Medline Industries
- Smith & Nephew
- B. Braun Melsungen AG
- M Health Care
Highlights of The Wound Closure Products Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Sutures
- Surgical Staples
- Wound Closure Strips
- Adhesives and Tissue Sealants
- Hemostats
- By Application:
- Hospital
- Clinic
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Wound Closure Products Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Wound closure products are medical devices that help to close wounds. They can be used on both fresh and dry wounds, and come in a variety of shapes and sizes.
Some of the major players in the wound closure products market are M Health Care, Smith & Nephew, Biomet, Covidien - Medtronic, Derma Sciences, Ethicon, Kinetic Concepts, Medline Industries, Smith & Nephew, B. Braun Melsungen AG, M Health Care.
The wound closure products market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Wound Closure Products Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Wound Closure Products Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Wound Closure Products Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Wound Closure Products Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Wound Closure Products Market Size & Forecast, 2020-2028
4.5.1 Wound Closure Products Market Size and Y-o-Y Growth
4.5.2 Wound Closure Products Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Sutures
5.2.2 Surgical Staples
5.2.3 Wound Closure Strips
5.2.4 Adhesives and Tissue Sealants
5.2.5 Hemostats
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Hospital
6.2.2 Clinic
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Wound Closure Products Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Wound Closure Products Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Sutures
9.6.2 Surgical Staples
9.6.3 Wound Closure Strips
9.6.4 Adhesives and Tissue Sealants
9.6.5 Hemostats
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Hospital
9.10.2 Clinic
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Sutures
10.6.2 Surgical Staples
10.6.3 Wound Closure Strips
10.6.4 Adhesives and Tissue Sealants
10.6.5 Hemostats
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Hospital
10.10.2 Clinic
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Sutures
11.6.2 Surgical Staples
11.6.3 Wound Closure Strips
11.6.4 Adhesives and Tissue Sealants
11.6.5 Hemostats
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Hospital
11.10.2 Clinic
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Sutures
12.6.2 Surgical Staples
12.6.3 Wound Closure Strips
12.6.4 Adhesives and Tissue Sealants
12.6.5 Hemostats
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Hospital
12.10.2 Clinic
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Sutures
13.6.2 Surgical Staples
13.6.3 Wound Closure Strips
13.6.4 Adhesives and Tissue Sealants
13.6.5 Hemostats
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Hospital
13.10.2 Clinic
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Wound Closure Products Market: Competitive Dashboard
14.2 Global Wound Closure Products Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 M Health Care
14.3.2 Smith & Nephew
14.3.3 Biomet
14.3.4 Covidien - Medtronic
14.3.5 Derma Sciences
14.3.6 Ethicon
14.3.7 Kinetic Concepts
14.3.8 Medline Industries
14.3.9 Smith & Nephew
14.3.10 B. Braun Melsungen AG
14.3.11 M Health Care
