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Wound Closure Surgical Products Market By Type (Hemostats, Tissue Sealants, Ligating Clips, Wound Closure Strips, Mechanical Stapling Products & Sutures) - Growth, Future Prospects, and Competitive Analysis, 2017 - 2025

Wound closure products are used in all surgical procedures where tissue ends are fused together. The type of wound closure product used determines the healing time and risk for infection. Products that are patient-specific, cost-efficient, have a lesser recovery time, and are less painful are more likely to exhibit a favorable potential in this market. The traditional methods of using sutures may have a lesser demand in the forecast period owing to their painful effect, longer recovery time, and high risk of acquiring infections, but they are still used as they are less expensive. Companies with a product portfolio that comprises less painful products with reduced recovery time and minimal scarring have a higher potential to grow in this market.

The current wound closure products market research report highlights the most recent market trends and provides strategic insights into the overall closure device market. Market size estimations and forecast analysis for this market have also been included in this report.

The market for wound closure products has been studied by dividing the market based on the products available in the market globally.

The wound closure products market has thus been segmented as follows:

Type

  • Hemostats
  • Collagen-based hemostats
  • Oxidized, regenerated cellulose
  • Thrombin-based hemostats
  • Tissue Sealants
  • Adhesives
  • Ligating Clips
  • Wound closure strips
  • Mechanical Stapling Devices

Sutures

  • Absorbable
  • Non-absorbable

The outreach of wound closure products across geographies is quite extensive, as they are a prime requirement for any kind of surgery. However, the availability of advanced and newer closure products, namely tissue sealants, adhesives, and wound closure strips, in the developing world is still not extensive. The market for wound closure products has been studied in various geographies such as North America, Europe, Asia Pacific, Latin America & the Middle East, and Africa. These geographical regions are further bifurcated to analyze the market for countries, namely the U.S., Canada, the U.K., Germany, China, Japan, Brazil, Mexico, the GCC, and other countries.

Market estimations and forecast analysis for each of the aforementioned segments for the duration of 2015–2025 have been incorporated into the current report. The market estimations have been provided in terms of US$ million, and the annual growth rates for each of the segments have also been incorporated for the period 2017–2025 by keeping 2016 as the base year.

The report also encompasses qualitative factors that have an impact on the evolution of the market, which are market drivers, restraints, and opportunities. These parameters would aid in determining a more accurate market outlook and would allow industrial players involved in wound closure products to strategize their product outreach in the market. The wound closure products market comprises several key players holding leading positions. The market is saturated with minimal differences between competitor products. This factor could pose a threat to emerging key players entering the wound closure products market; if so, such players would have to enter the market with advanced, non-invasive products with cost-efficient benefits.

To understand the extent of competition amongst the key players, the report includes company profiles of the top leaders that dominate the wound closure products market. The key players profiled are B. Braun Melsungen AG, Alfreda Pharma Corporation, 3M, Abbott, BSN Medical, Baxter International, Ethicon Inc., Genzyme Corporation, Derma Sciences Inc., Acelity, NeatStitch Ltd., Medtronic Plc., Smith & Nephew, Radi Medical Systems Inc., and Teleflex Medical Inc.

Based on device type, the global wound closure surgical products market is segmented as follows:

Hemostats

  • Collagen-based hemostats
  • Oxidized, regenerated cellulose
  • Thrombin-based hemostats

Tissue Sealants

  • Adhesives
  • Ligating Clips
  • Wound closure strips
  • Mechanical Stapling Devices

Sutures

  • Absorbable
  • Non-absorbable

Wound closure surgical products are designed to assist in the complete closure of wounds by sealing the ends of the wound tissue and attaining complete healing with minimal risk for infections. The various products currently available in the market are hemostats, tissue sealants, adhesives, ligating clips, wound closure strips, mechanical stapling products, and sutures. Of the aforementioned products, sutures dominate the wound closure surgical products market owing to their ease of use, cost efficiency, and wide accessibility across geographies. Staplers have advanced from the traditional suture types. They are similar to sutures in functionality but are preferred as they offer reduced recovery time and are easy and quick to use.

Cosmetic procedures are on the rise and require minimally invasive techniques for wound closure without the occurrence of any kind of scar. This has led to an increase in demand for the recent wound closure surgical products, viz., tissue sealants, adhesives, and wound closure strips. These products are expected to dominate the market during the forecast period of 2017–2025 due to an increase in demand. However, the higher cost of these minimally invasive techniques would have an unfavorable impact on the market for wound closure surgical products.

For the purpose of this study, the global wound closure surgical products market is categorized into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America (LATAM)
  • Middle East and Africa (MEA)

Wound closure surgical products are available across geographies. In this study report, the wound closure surgical products market has been segmented into five major geographies: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Amongst the aforementioned geographies, North America holds a predominant position. The factors that drive the North American market are the higher economic status of patients, continuous R&D developments, the availability of reimbursement, and the presence of key market leaders. The rise in demand for wound closure surgical products could also be attributed to the presence of key market leaders, namely Ethicon, Inc., 3M, and Baxter. Europe holds second place in the wound closure surgical products market. The provision of funds to carry out various research activities, increased healthcare expenditures, increased chronic wound incidence, and government support drive the European wound closure surgical products market. Asia Pacific is expected to be the fastest-growing sector in the wound closure surgical products market. Developing economies such as India and China have seen an increase in their current healthcare expenditure, and this trend is expected to continue during the forecast period. According to the Indian Brand Equity Foundation, the Indian healthcare sector is one of the fastest growing in the world, with an annual growth rate of 15% and a projected value of US$158.2 billion by 2017. The aforementioned factor is a major boon to the wound closure surgical products market in this region.

Frequently Asked Questions:

The market for Wound Closure Surgical Products is expected to reach US$ 26.3 Bn in 2025.

The Wound Closure Surgical Products market is expected to see significant CAGR growth over the coming years,at 6.8%.

The report is forecasted from 2017-2025

The base year of this report is 2016.

B. Braun Melsungen AG,3M,Abbott,Alfresa Pharma Corporation,Baxter International are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Nov 2017
Category:  Medical Devices
Report ID:   58840
Report Format:   PDF
Pages:   120
Rating:    4.8 (70)
Delivery Time: 24 Hours to 48 Hours   
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