Wound Closure Device Market May Rise by 2023 Due to Growing Volume of Surgical Procedures | MRFR Analysis with Industry Trends, Opportunities, Growth Factors and Key Players

Wound Closure Device Market May Rise by 2023 Due to Growing Volume of Surgical Procedures | MRFR Analysis with Industry Trends, Opportunities, Growth Factors and Key Players

“Wound Closure Device Market”
An expert on premium research reports, Market Research Future has added a report titled “Wound Closure Device Market Research Report- Forecast to 2023” to its offering.

Wound closure devices are used for closing the wound by pulling both the edges together. These devices can help a patient to recover and heal the incisions and small wounds that are created on the body due to surgical procedures. A new report on the global wound closure device market, published by Market Research Future (MRFR), envisions that this market could recognize hike at 6.9% CAGR between 2018 and 2023.

The prime market driver for the global wound closure device market growth is the surge in the surgical procedures. Other market drivers include increasing number of plastic as well as cosmetic surgeries, increasing number of accidents as well as injuries (burns and trauma included), technological advancement, new device launches, decrease in several surgical site infections, and increasing attempts to reduce hospital stays for reducing surgical expenditure. However, the risk associated with side effects of wound closure devices, infectious wounds, and unfavorable reimbursement policies can slow down market growth.

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Market Segmentation

The global wound closure device market segmentation encompasses application, device, end-user, and type of wound. MRFR’s take on the market explores various facets of the market in-depth.

The application-based segmentation of this market covers burns, ulcers, arterial ulcers, diabetic ulcers, pressure ulcers, and surgical wounds. Based on end-user, the market has been segmented into ambulatory surgical centers, community healthcare service providers, hospitals, and home care. By type of wound, the market has been segmented into acute wounds, chronic wounds, and others.

Regarding device, the market has been segmented into adhesives, mechanical wound closure devices, staples, and sutures. The adhesives segment has been sub-segmented cyanoacrylates and fibrin tissue adhesives. The sutures segment can be sub-segmented into absorbable, non- absorbable, braided, and monofilament.

Key Players

Big players in the global wound closure device market include 3M (USA), Abbott Laboratories (USA), Arthrex GmbH (USA), Baxter International (USA), B. Braun Melsungen AG (Germany), BSN Medical Inc. (Germany), ConvaTec (UK), CP Medical (USA), DACH Medical Group (Austria), Derma Sciences (USA), Ethicon Inc. (USA), Gecko Biomedical (France), Integra LifeScience (USA), Kinetic Concepts (USA), Medtronic (Ireland), and Smith & Nephew (UK).

Latest Industry News

  • A sutureless wound closure technique called external dacryocystorhinostomy for nasolacrimal duct obstruction can ensure less scarring and better cosmesis compared to the subcuticular technique in external dacryocystorhinostomy procedures. 20 AUG 2019

Regional Segmentation

A geographical outlining of the global wound closure device market covers the Americas (North America & South America), Asia Pacific, Europe, and the Middle East & Africa (MEA).

The Americas is the largest regional market. Due to technological advancement and the availability of advanced medical facilities, presence of major market players, high disposable income, and more investment in healthcare, North America is a bigger regional market segment compared to South America. Increasing injuries related to accidents, adventures, and sports and is leading to the demand for better facilities for surgery, subsequently leading to market growth. Other factors boosting the market in North America and to some extent South America are, aging population, and increase in the number of surgical procedures. Adoption of the wound closure technology and awareness about the same are also aiding growth in North America. The adoption is comparatively slow in South America, limiting market growth.

Europe is the second-largest regional market due to increase in aged population and rising occurrence of sports injuries as well as accidents (especially road accidents). The powerful country-specific markets in Western Europe are France, Germany, Italy, Spain, and the UK. An observation of the remaining countries in Western Europe featured in this report speculate the huge addition to market revenue from some other countries in this region, along with a sizable amount of revenue from Eastern Europe.

During the forecast period, the Asia Pacific region has been predicted to be the fastest-growing regional market due to the significant increase in aged population, and increasing prevalence of chronic ailments like diabetes, which subsequently lead to the increasing cases of diabetic foot ulcer. Vital country-specific markets in this region are Australia, China, India, Japan, and South Korea. An analysis of the remaining countries in the Asia Pacific region featured in this report estimates the huge contribution to market revenue from some other countries.

The MEA region holds the smallest market share in the global market due to lack of technical knowledge, poor medical facilities, and underdeveloped healthcare sector.

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