Global Wound Closure Products Market: Overview
The global wound closure products market is benefitting from the rising application of wound closure products in several types of injuries. Wound closure products are used for severe injuries such as diabetic foot ulcers and pressure ulcers that require external assistance to prevent infection and to accelerate healing. Wound closure products include sutures, wound closure strips, surgical staples, hemostats, and adhesives and tissue sealants.
The report on wound closure products market is appropriately segregated based on product type and geography. The sutures product segment is likely to exhibit a healthy demand due to the efficacy of sutures for wound closure.
The report is a creditable tool that has been prepared using industry-centric analytical tools and proven research methodologies. The analysis of key segments under different categories can render gainful opportunities for market stakeholders. The market drivers, challenges, and opportunities discussed herein can help market stakeholders to formulate winning strategies.
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Global Wound Closure Products Market: Trends and Opportunities
The rising application of wound closure products for treating internal and external wounds is primarily driving the wound closure products market. Unlike minor cuts and bruises that heal on their own, deep wounds need external assistance such as sutures and tissue adhesives to prevent infection and speed up healing.
The increasing number of surgical procedures globally is also a key growth driver of the wound closure products market. Suture and staples are long-established wound closure products due to their low cost and ease of application. However, novel hemostat products such as sealants are gaining adoption due to advantages of faster wound closure in lesser time. These products also saves hospital visit as required for post healing removal of sutures and staples.
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The demand for absorbable sutures is pacing up owing to their increasing application for both internal and external wound closure. Various surgical procedures such as peripheral bypass and aortic calve replacement use combination of sutures or staples and tissue adhesives for wound closure.
The rising incidence of lifestyle diseases such as cardiovascular diseases and diabetes and reluctance to use sutures due to development of scars and risk of infection are driving the adoption of adhesives and tissue sealants.
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Global Wound Closure Products Market: Geographical Analysis
Among prominent regional segments in the wound closure products market, North America held supremacy in the recent past. Powered by innovations and introduction of newer medical devices in the U.S., North America is anticipated to hold on to its dominant position over the forecast period. As per a study published in 2009 in Wound Repair and Regeneration, in the U.S., more than 2% of the population suffers from chronic non-healing wounds.
Europe trailed North America in terms of market share in wound closure products market in the recent past. As per statistics presented in the Journal of Wound Care, the incidence of chronic wounds is over 4 million each year in the European Union. Thus, the high prevalence of chronic wounds and early adoption of new technology are benefitting the wound closure products market in these regions.
Asia Pacific is anticipated to emerge as the most lucrative regional market. India and China display a surging incidence of obesity and diabetes. As per statistics of the World Health Organization, in 2011, diabetes was diagnosed among 90 million adults and 61 million adults in China and India respectively.
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Global Wound Closure Products Market: Competitive Landscape
Due to the presence of several players of varying sizes, the global wound closure products market features intense competition. Product innovation and improvement of existing products are the focus of key vendors in the market to increase their market share.
Key players profiled in the report include Cryolife, Baxter International Inc., Covidien plc., Johnson & Johnson, and B. Braun.
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