Wound Closure Devices Market Size and Trends

The wound closure devices market size is forecast to increase by USD 7.03 billion, at a CAGR of 8.2% between 2023 and 2028.  Wound closure devices refer to medical devices used to close various types of wounds, including chronic wounds such as diabetic foot ulcers and pressure ulcers, as well as those resulting from surgical procedures and minimally invasive surgeries. The market for these devices is experiencing significant growth due to several factors. First, the increasing prevalence of chronic wounds, particularly in the aging population and among individuals with diabetes, is driving demand for effective wound management solutions. Second, advancements in wound care technologies, such as the development of new sutures, staples, and hemostatic agents, are improving outcomes and reducing complications. However, intense competition in the market is leading to pricing pressure, which may challenge market growth.

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The market is witnessing significant growth due to the increasing prevalence of chronic wounds, such as diabetic foot ulcers and pressure ulcers, and the rising number of surgical procedures, including minimally invasive surgeries. Chronic wounds, particularly those related to diabetes and pressure, pose a major challenge in healthcare, requiring effective and efficient wound management solutions. Sutures, staples, hemostatic agents, stapling devices, sealants, adhesives, and hemostats are some of the essential devices used in various surgical interventions. These devices play a crucial role in ensuring proper wound closure, reducing the risk of infection, and promoting faster healing. Chronic wounds, such as diabetic foot ulcers and pressure ulcers, are a significant concern in healthcare, especially in hospitals and clinics. Diabetic foot ulcers affect millions of people worldwide, and their prevalence is increasing due to the rising number of diabetic patients. Pressure ulcers, on the other hand, are common in patients with respiratory illnesses, cancer, and other chronic conditions, leading to extended hospital stays and increased healthcare costs.

Wound closure devices are increasingly being used in surgical procedures to minimize invasiveness and improve patient outcomes. Minimally invasive surgeries have gained popularity due to their numerous benefits, including reduced recovery time, lower risk of complications, and improved patient satisfaction. Wound closure devices are integral to these surgeries, ensuring precise process and reducing the risk of post-surgical complications. Acute wounds, such as traumatic injuries, also require effective wound closure devices for proper healing. Traumatic injuries can result from accidents, sports injuries, or violence, and can lead to significant morbidity and mortality if not treated promptly and effectively. Wound closure devices help reduce the risk of infection, minimize scarring, and promote faster healing in these cases. Hospitals and clinics are the primary end-users of wound closure devices due to the high volume of wound care cases they handle. The increasing number of surgical procedures, coupled with the rising prevalence of chronic wounds, is driving the demand for advanced devices in these healthcare facilities. In conclusion, the devices market is witnessing significant growth due to the increasing prevalence of chronic wounds, the rising number of surgical procedures, and the need for minimally invasive surgical interventions. Wound closure devices play a crucial role in ensuring proper process, reducing the risk of infection, and promoting faster healing in various wound types, making them an essential component of effective wound management solutions.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

• Product
  • Sutures
  • Hemostats
  • Surgical staples
  • Wound sealants
  • Wound strips
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
    • France
  • Asia
    • Japan
  • Rest of World (ROW)

By Product Insights

The sutures segment is estimated to witness significant growth during the forecast period.   Wound closure devices play a crucial role in the healing process of chronic wounds, such as diabetic foot ulcers and pressure ulcers. These devices facilitate the binding of injured or operated body tissue together, repairing lacerations using needles made from stainless steel or carbon steel. The design and thread materials for wound closure vary based on the specific medical condition and surgical procedure.

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The sutures segment was valued at USD 3.76 billion in 2018. For instance, surgical sutures for abdominal surgery differ significantly from those used in cataract surgery. Thread materials used for wound closure include silk, nylon, polypropylene, polyester, and other synthetic polymers, which are strong, non-toxic, flexible, and hypoallergenic. These properties help restrict the entry of fluids and prevent post-surgical infections. In the realm of minimally invasive surgeries and wound management solutions, wound closure devices continue to evolve, offering advanced hemostatic agents to ensure efficient and effective closure.

Regional Analysis

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North America is estimated to contribute 57% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. This region's dominance can be attributed to the widespread use of advanced medical technology in clinics and hospitals, prioritizing surgical outcomes and patient care quality. Medical tourism also plays a role in driving market growth, as individuals seek superior surgical interventions. Wound closure devices, including absorbable sutures, automated staplers, clips, and other solutions, contribute significantly to surgical intervention success by maintaining safety during wound healing. However, the market growth rate is predicted to be moderate during the forecast period due to the market's maturity in North America. The primary factors fueling market expansion are the growing awareness among healthcare professionals and patients regarding the importance of minimizing infection rates and ensuring optimal wound healing.

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Wound Closure Devices Market Driver

Rising demand for cosmetic and plastic surgeries is notably driving market growth. The demand for wound closure devices has grown significantly in the US healthcare sector, particularly in the context of plastic and cosmetic surgeries. These procedures are increasingly sought after to help individuals reshape, enhance, and improve their appearance, leading to increased self-confidence. According to the American Society of Plastic Surgeons, there was a 64% increase in virtual consultations for cosmetic procedures in the US since 2020. These devices play a crucial role in these surgeries, ensuring proper healing and minimizing scar appearance. Orthopedic surgeries and cosmetic procedures both require the use of these devices. Infections are a common concern in surgical procedures, and non-absorbable sutures and hemostats are essential for preventing complications.

Active hemostats and passive hemostats are commonly used to control bleeding and promote clotting. Healthcare professionals rely on the effectiveness and reliability of devices to ensure the best possible outcomes for their patients. The aesthetic appeal of the resulting scar is a significant consideration in cosmetic surgeries, making the use of advanced devices even more important. Overall, the market for these devices in the US is expected to continue growing, driven by the increasing popularity of surgical and non-surgical procedures. Thus, such factors are driving the growth of the market during the forecast period.

Wound Closure Devices Market Trends

Advancements in wound care technologies is the key trend in the market. The wound care market is projected to expand significantly due to the rising incidence of chronic injuries and surgical procedures. Chronic wounds, such as diabetic foot ulcers and venous leg ulcers, pose a major health concern, particularly in an aging population. Advanced wound closure devices are increasingly in demand due to their ability to facilitate effective and efficient wound healing. Traumatic injuries also contribute to market growth, necessitating the use of advanced wound care solutions.

The economic and social implications of managing chronic wounds are substantial. Recent advancements in wound care technology, including Negative Pressure Wound Therapy (NPWT), offer promising solutions for improving patient outcomes. The market is poised for growth, driven by the need for innovative and effective wound care solutions. Thus, such trends will shape the growth of the market during the forecast period.

Wound Closure Devices Market Challenge

Intense competition leading to pricing pressure is the major challenge that affects the growth of the market. The market is witnessing significant competition among prominent global and local manufacturers. Key players hold a dominant position in certain product segments, including sutures, hemostats, surgical staples, and tissue sealants. However, the market remains accessible for smaller players looking to develop innovative solutions. Local manufacturers offer these products at lower prices compared to established brands such as Ethicon, a subsidiary of Johnson & Johnson, and Covidien, now part of Medtronic. This pricing strategy puts pressure on leading players to reconsider their pricing strategies in the current market climate.

General surgeries, gynecology, cardiology, ambulatory surgical centers, and specialty clinics are primary end-users. Patients increasingly prefer minimally invasive procedures, driving demand for advanced technologies. Adhesives and sealants are gaining popularity due to their ease of use and faster recovery times. Wound closure devices are essential tools for healthcare professionals, ensuring proper healing and reducing the risk of complications. Hence, the above factors will impede the growth of the market during the forecast period

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

3M Co. - The company offers wound closure devices that provides wound support and increases the tensile strength of the wound compared to sutures.

The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Abbott Laboratories
• Arthrex Inc.
• B.Braun SE
• Baxter International Inc.
• Connexicon Medical Ltd.
• ConvaTec Group Plc
• Cryolife Inc.
• DeRoyal Industries Inc.
• Essity AB
• Futura Surgicare Pvt. Ltd.
• Integra LifeSciences Holdings Corp.
• IVT Medical Ltd.
• Johnson and Johnson Services Inc.
• Medtronic Plc
• Smith and Nephew plc
• Stryker Corp.
• Teleflex Inc.
• Theragenics Corp.
• Welfare Medical Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Wound closure devices play a crucial role in the effective management of various types of wounds, including chronic wounds such as diabetic foot ulcers and pressure ulcers. These devices are essential in surgical procedures and minimally invasive surgeries, facilitating wound healing and improving surgical outcomes. Wound closure solutions encompass a range of products, including sutures, staples, hemostatic agents, stapling devices, clips, and sealants. Chronic wounds caused by conditions like cancer, respiratory illnesses, sports injuries, and road accidents require specialized wound care. Wound closure devices contribute significantly to the overall patient care quality in hospitals, clinics, and medical tourism destinations. Surgical interventions for acute wounds, general surgeries, gynecology, cardiology, and orthopedic surgeries all benefit from advanced wound closure technologies.

Patient outcomes are a primary concern for healthcare providers, and the aesthetic appeal and scar appearance of surgical wounds are increasingly important considerations. Minimally invasive wound closure devices, such as absorbable sutures and automated staplers, offer advantages in terms of reduced trauma, faster recovery, and improved patient satisfaction. Infections are a common challenge in wound care, and wound closure devices must address this issue through the use of active and passive hemostats, as well as antimicrobial properties. The evolving landscape of medical technology continues to drive innovation in wound closure devices, with a focus on enhancing patient care, reducing complications, and improving surgical intervention success rates.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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