New York, USA, Feb. 04, 2022 (GLOBE NEWSWIRE) -- Wound Closure Devices Market to Surpass USD 22 Billion and Expected to Witness a CAGR of 7.40% by 2026 | DelveInsight
As per DelveInsight analysis, the rising surgical procedures globally, recent product approvals, and technological advancements in the wound closure device product arena are expected to drive the Wound Closure Device Market space.
DelveInsight's Wound Closure Devices Market Insights and Forecast report provides the current and forecast Wound Closure Devices market, upcoming developments in the devices, individual market shares of the devices, challenges, drivers, and barriers, market trends, and key players in the Wound Closure Devices.
Some of the Key Highlights from the Wound Closure Devices Market Report
- According to DelveInsight analysis, North America is expected to dominate the overall Wound Closure Devices Market during the forecasted period.
- Key pharma companies working diligently 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, Adhesys Medical, Cardinal Health, Dukal LLC, ORION SUTURES INDIA PVT LTD, AdvaCare Pharma, and others.
- As per DelveInsight analysis, the Global Wound Closure Devices market was valued at USD 14.82 billion in 2020 and is anticipated to grow at a CAGR of 7.40% during the forecast period from 2021 to 2026 and is also anticipated to reach USD 22.64 billion by 2026.
- In January 2022, Chemence Medical received FDA clearance for its Exofin precision pen as a medical device for wound closure.
- 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.
- The growing number of surgeries around the world is also expected to fuel the Wound Closure Devices market size.
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Wound Closure Devices Overview
Wound Closure Devices include sutures, staples, and specially designed mechanical devices that help close wounds by manipulating the edges of the wound tissue more closely. In addition to these sealants, strips and adhesive are used to close the wound. Wound Closure Devices vary in design and may require tension/pressure adjustment after being applied to a patient, or they may absorb into the skin, depending on the function and manufacturer. It may be used to treat chronic, traumatic, and surgical wounds, as well as skin grafts and flaps.
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Wound Closure Devices Market Insights
Geographically, the Wound Closure Devices market is studied for North America, Europe, Asia-Pacific, and the Rest of the World. However, North America is expected to hold a significant share of the overall market in the coming years among all regions. This dominance is attributed primarily to the rise in chronic diseases prevalence that eventually results in chronic wounds, rising traumatic wounds caused by falls and accidents, increased expenditure on surgical and chronic wounds, and technological advancements in the product portfolio, among other factors.
In addition, the presence of key market players such as Johnson & Johnson, Medtronic, and 3M, among others, who are actively manufacturing wound closure devices, is also expected to boost the region's market growth.
Furthermore, the approval of a variety of surgical wound closure devices will contribute to the Wound Closure Devices market growth. For instance, in January 2022, Chemence Medical, Inc. received FDA approval for its product Exofin precision pen as a medical device for wound closure.
Learn more about the market landscape @ Wound Closure Devices Assessment
Wound Closure Devices Market Dynamics
The key factors responsible for the growing demand for Wound Closure Devices include the increase in chronic wounds prevalence such as diabetic wounds, venous leg ulcers, pressure ulcers, and acute wounds around the world, recent product approval, and technological developments. Furthermore, the growing number of surgeries across the globe is also expected to fuel the market.
However, the availability of alternative treatment methods and stringent regulatory approvals are expected to impede the Wound Closure Devices market growth. Furthermore, the unprecedented COVID-19 pandemic had an impact on Global Wound Closure Devices in its early stages. This is due to national lockdowns, the denial of wound care services, the cancellation or postponement of elective surgeries, and the reduced access to clinical management for chronic wounds.
To gain a better understanding of the COVID-19 impact on Wound Closure Devices, get a snapshot of the Wound Closure Devices Market Analysis
Scope of the Wound Closure Devices Market Report
- Coverage: Global
- Study Period: 2021-2026
- Market Segmentation By Product Type - Adhesives, Staplers, Sutures (Absorbable Sutures and Non-Absorbable Sutures), Strips (Sterile and Non-Sterile), and Others
- Market Segmentation By End-User- Hospitals, Clinics, and Others
- Market Segmentation By Geography - North America, Europe, Asia-Pacific, and Rest of World
- Key Companies - 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, Adhesys Medical, Cardinal Health, Dukal LLC, ORION SUTURES INDIA PVT LTD, AdvaCare Pharma, and others.
- Porter’s Five Forces Analysis
- Product Profiles
- Case Studies
- KOL's Views
- Analyst's View
Delveinsight Analysis: The Wound Closure Devices market is expected to grow at a CAGR of 7.40% and will reach USD 22.64 billion by 2026.
Know more about which MedTech player is set to emerge as the trendsetter @ Wound Closure Devices Market Landscape Analysis
Table of Contents
| 1 | Report Introduction |
| 2 | Executive summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Key Factors Analysis |
| 5 | Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on Wound Closure Devices Market |
| 7 | Wound Closure Devices Market Layout |
| 8 | Wound Closure Devices Global Company Share Analysis – Key 3-5 Companies |
| 9 | Key Companies and Product Profiles |
| 10 | Project Approach |
| 11 | KOL Views |
| 12 | DelveInsight Capabilities |
| 13 | Disclaimer |
| 14 | About DelveInsight |
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