Wound closure market

Wound Closure Market, by Product Type (Wound Dressings (Foam Dressings, Hydrocolloid Dressings, Film Dressings, Alginate Dressings, Hydrogel Dressings, Collagen Dressings, and Other Dressings), and Surgical (Sutures (Absorbable Sutures and Non-Absorbable Sutures), Staples, Tissue Adhesive, Sealant & Glues, Hemostats, and Traditional/ Basic Wound Closure Products), by Application (Ulcer (Diabetic Ulcers, Venous Leg Ulcer, Pressure Ulcers, Acute & Sub-acute Ulcers, Arterial Ulcers), Surgical Wounds (General Surgery Wounds, Oncology Surgery Wounds, Urology Surgery Wounds, Cardiovascular Surgery Wounds, Obstetrics & Gynecology Surgery Wounds, Neuro & Spine Surgery Wounds, ENT Surgery Wounds, Orthopedic Surgery Wounds, and Plastic, Cosmetics & Reconstruction Surgery Wounds), Burn Injuries, and Other Applications), by End User (Hospitals, Long-term Care Settings, Home Care Settings, and Other end users), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

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Jul 2022
CMI1205
145 Pages
Excel & Pdf
Medical Devices

Summary

Wound is circumscribed injury caused by an external force, which involves injury to any tissue or organ. Surgical wound closure aims to move close the skin flaps to favor rapid healing and a good cosmetic outcome with low risk of complications. On the basis of severity of injury, wounds are classified into acute and chronic wounds. Wounds imposes significant impact on the health of patients, which leads to pain, loss of function and mobility, depression, anxiety, and stress.

The global wound closure market is estimated to be valued at US$ 1.84 billion in 2022 and is expected to exhibit a CAGR of 7.1% during the forecast period (2022-2030).

Figure 1.Global Wound Closure Market Share (%), by Product Type, 2022

Increasing prevalence of diabetes and diabetes associated ulcers are expected to drive growth of the wound closure market

Diabetes foot ulcer is major cause of disability, morbidity and mortality among diabetes patients. For instance, according to an article published by ScienceDirect in December 2021, Diabetic foot ulcer (DFU) and chronic kidney disease (CKD) are two significant complications of diabetes mellitus (DM). According to the same source, up to 19% to 34% of patients with diabetes mellitus will suffer from DFU during their lifetimes. The increased rate of diabetes and associated diabetes foot ulcers are expected to drive the growth of the wound closure market over the forecast period. For instance, according to the data provided by the American Diabetes Association, in February 2022, 37.3 million Americans, or 11.3% of the population, had diabetes in the year 2019.

Wound Closure Market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2022:	US$ 1.84 Bn
Historical Data for:	2017 to 2020	Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	7.1%	2030 Value Projection:	US$ 3.17 Bn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC Countries, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Product Type: Wound Dressings (Foam Dressings, Hydrocolloid Dressings, Film Dressings, Alginate Dressings, Hydrogel Dressings, Collagen Dressings, Other Dressings), Surgical (Sutures {Absorbable Sutures, Non-Absorbable Sutures}, Staples, Tissue Adhesive, Sealant & Glues, Hemostats, Traditional/ Basic Wound Closure Products}) By Application: Ulcer (Diabetic Ulcers, Venous Leg Ulcer, Pressure Ulcers, Acute & Sub-acute Ulcers, Arterial Ulcers), Surgical Wounds (General Surgery Wounds, Oncology Surgery Wounds, Urology Surgery Wounds, Cardiovascular Surgery Wounds, Obstetrics & Gynecology Surgery Wounds, Neuro & Spine Surgery Wounds, ENT Surgery Wounds, Orthopedic Surgery Wounds, Plastic, Cosmetics & Reconstruction Surgery Wounds), Burn Injuries, Other Applications By End User: Hospitals, Long-term Care Settings, Home Care Settings, Other end users
Companies covered:	3M, Smith & Nephew plc, Johnson & Johnson, B. Braun Melsungen AG, Convatec Group PLC, Integra LifeSciences, Medtronic, Mölnlycke Health Care AB, Cardinal Health, and Stryker
Growth Drivers:	Increasing prevalence of surgeries Increasing prevalence of diabetes and diabetes associated ulcer Introduction of new advanced technology in wound closure treatment
Restraints & Challenges:	Infections caused due to wound closure devices Product recalls

Figure 2.Global Wound Closure Market Share (%), by Region, 2022

Introduction of new advanced technology in wound closure treatment are expected to drive the market growth during the forecast period

Market players operating in wound closure market are focusing on innovation and new launches of wound closure devices to tap emerging market. For instance, in November 2020, Healthium Medtech, one of the largest medical device companies in India, announced the launch of its latest innovation Trubarb, a knotless tissue closure device designed to redefine the suturing experience for surgeons. The device comes with barbs and an effective triangular end stopper that eliminates the need for knotting when compared to a regular suture and eliminates the difficulties of looping when compared to other knotless sutures. It has been designed to shorten suturing time, decrease morbidity and ischemic necrosis that arise due to knotting and simplify the overall suturing experience for surgeons.

Global Wound Closure Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

The COVID-19 pandemic had a negative impact on the wound closure market, due to the decrease in the number of patient visits to hospitals as a result of precautionary measure to protect them from the COVID-19 infection. For instance, according to an article published by the American Journal of Managed Care journal in September 2021, in the early lockdown stage of the pandemic, most outpatient wound care clinics suspended their operations. Even as lockdowns eased and outpatient appointments resumed, many patients avoided appointments out of fear of exposure to COVID-19. Moreover, majority of practices reported a decrease in current patient visits as compared to prepandemic numbers. About 57% of respondents said that wound severity had significantly increased since the start of the pandemic.

Global Wound Closure Market: Key Developments

In June 22, 2022, Advanced Medical Solutions Group plc, a U.K.-based developer and manufacturer of world-leading advanced wound care and wound closure products, received the U.S. Food and Drug Administration 510(k) approval for LiquiBand XL, a new device that can close longer wounds than existing LiquiBand products. The device consists of a surgical mesh which is used to close the wound and LiquiBand glue which is used to strengthen the closure and prevent infection.

In March 2021, KitoTech Medical, a medical device company, announces the addition of a product ‘microMend Combo Pack’ to its growing line of consumer products. This product gives consumers more options to treat wounds and expands the use of microMend to close smaller lacerations and serious cuts on the fingers and discrete areas of the face.

Global Wound Closure Market: Restraint

The major factors that hinder growth of the global wound closure market include infections caused due to wound closure devices and product recalls. For instance, in October 2019, the U.S. Food and Drug Administration (FDA) announced that Ethicon, a subsidiary of Johnson & Johnson, initiated a recall of several lots of its ECHELON FLEX ENDOPATH Staplers. The recall was prompted by the manufacturer discovering that some of the surgical staplers distributed may have an out-of-specification part which could lead to malformed staples

Key Players

Major players operating in the global wound closure market include 3M, Smith & Nephew plc, Johnson & Johnson, B. Braun Melsungen AG, Convatec Group PLC, Integra LifeSciences, Medtronic, Mölnlycke Health Care AB, Cardinal Health, and Stryker.

Table of Content

Table of Contents

*Browse 55 market data tables and 35 figures on "Global Wound Closure Market” - forecast to 2030

Segmentation

Detailed Segmentation:

- Frequently Asked Questions -

What is the current market size and compound annual growth rate (CAGR) of the global wound closure market during the forecast period (2022-2030)?

The global wound closure market size is estimated to be valued at US$ 1.84 billion in 2022 and is expected to exhibit a CAGR of 7.1% between 2022 and 2030.

What are the major factors driving the market growth?

Factors such as increasing prevalence of surgeries, increasing prevalence of diabetes and diabetes associated ulcers and introduction of new advanced technology in wound closure treatment are expected to drive the market growth.

Which is the leading product type segment in the market?

Wound Dressings is the leading product type segment in the market

What are the key factors hampering growth of the market?

The major factor hampering growth of the market include infections caused due to wound closure devices and product recalls

Which are the major players operating in the market?

Major players operating in the market include 3M, Smith & Nephew plc, Johnson & Johnson, B. Braun Melsungen AG, Convatec Group PLC, Integra LifeSciences, Medtronic, Mölnlycke Health Care AB, Cardinal Health, and Stryker