Which are the regions and countries where companies should have concentrated on opportunities for wound closure devices market growth in the coming future?

 

What is Wound Closure Device?

Wound closure devices include sutures, staples, and specially designed mechanical devices that help to close wounds by manipulating the edges of the wound tissue more closely. Apart from these, sealants, strips, and adhesives are also used to close the wound.

What is the market for Global Wound Closure Devices?

The global wound closure devices market was valued at USD 11,507.02 million in 2021, growing at a CAGR of 5.65% during the forecast period from 2022 to 2027, to reach USD 15,988.30 million by 2027.

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What are the drivers for the Global Wound Closure Devices?

The major factors driving the demand for wound closure devices are the rising cases of chronic wounds, increasing traumatic injuries, recent product approvals, and increasing manufacturers’ initiative to develop technologically advanced products.

Recent Developmental Activities in the Wound Closure Devices Market:

·         In November 2020, Healthium launched Trubarb, a knotless tissue closure device, an effective triangular end stopper that eliminates the need for knotting when compared to a regular suture.

·         In March 2020, Advanced Medical Solutions Limited received FDA approval for LiquiBand Plus intended to close easily approximated skin edges of wounds from surgical incisions.

·         In February 2020, Foosin Medical Supplies Inc., Ltd received FDA clearance for Wego-Stainless Steel suture for use in abdominal wound closure, hernia repair, and sternal closure.

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Key Takeaways from the Wound Closure Devices Market Report Study

·         Market size analysis for current market size (2021), and market forecast for 5 years (2022-2027)

·         The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the wound closure devices market.

·         Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last 3 years.

·         Key companies dominating the global wound closure devices market.

·         Various opportunities are available for the other competitor in the wound closure devices market space.

·         What are the top-performing segments in 2021? How these segments will perform in 2027.

·         Which are the top-performing regions and countries in the current wound closure devices market scenario?

·         Which are the regions and countries where companies should have concentrated on opportunities for wound closure devices market growth in the coming future?

What are the key players operating in Global Wound Closure Devices?

Some of the key market players operating in the wound closure devices market include Medtronic, 3M, Johnson & Johnson, B. Braun Melsungen AG, Baxter, Smith & Nephew, Stryker, Chemence Medical, Inc., Healthium Medtech, Meril Life Sciences Pvt. Ltd., Futura Surgicare Pvt Ltd. Advanced Medical Solutions Group plc, Microcure (Suzhou) Medical Technology Co., Ltd., CooperSurgical Inc, Adhezion Biomedical, CENTENIAL SURGICAL SUTURE LTD, Cardinal Health, Dukal LLC, ORION SUTURES INDIA PVT LTD, Lotus Surgicals, and others.

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Which region has the highest share in the Wound Closure Devices market?

Among all the regions, North America is expected to occupy a major share in the overall wound closure devices market during the forecasted years 2022-2027. This domination can be primarily attributed to the rising prevalence of chronic conditions resulting in chronic wounds, rising traumatic wounds due to falls and accidents, increased expenditure on surgical and chronic wounds, and technological advancements in the product portfolio, among others.

What is the Wound Closure Devices Market Dynamics?

The growing demand for wound closure devices at present is owing to the rising cases of chronic wounds such as diabetic wounds, venous leg ulcers, pressure ulcers, and acute wounds across the globe. According to the latest data released by the International Diabetes Federation in the year 2020, approximately 40 to 60 million people are affected by diabetic foot complications worldwide. Moreover, according to the Wounds UK 2021, report there are 15% of the population in the country suffers from venous leg ulcers, 14% have surgical wounds, 9% suffer from diabetic foot ulcers, and approximately 6% suffer from burns.

What is the Wound Closure Devices Market Segment Analysis?

Wound Closure Devices Market by Product Type (Sealants and Adhesives, Staplers, Sutures [Absorbable and Non-Absorbable], Hemostats, and Others), End-User (Hospitals, Clinics, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

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