Surgical Wound Closure Device Market Introduction
Traditional wound closure involved usage of only needle and thread. The surgical techniques and the development in tradition way of wound closure introduced the new and modern devices for the surgical procedures for the wound closure. Modifications in the traditional method have led to new wound closure methods. After wound closure, there is speedy activity through neovascularization and epithelisation. The extracellular materials in the matrix start to organize themselves. Specific growth factors are involved during granulation in the healing process. Cyanoacrylate has been used as a surgical adhesive for its aesthetical results for the last three decades. The edges of the wound are pulled with the help of wound closure devices. This is done with adequate measure to avoid infections after the surgery. This type of wounds are closed with wound closure devices for quick healing of the wound. Increase in surgical procedures drives demand for wound closure devices.
Surgical Wound Closure Device Market - Competitive Landscape
BSN medical is a leading player in the global health care market. The company operates in wound care & related vascular diseases, Lymphology, and non-invasive orthopedic products. The company has global presence in over 150 countries. BSN medical was acquired by Swedish Essity AB in April 2017.
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The company operates through two operating segments: BioSciences and Medical Products. It manufactures and also distributes its products. The company focuses on the manufacture of products for the treatment of hemophilia, immune disorders, kidney diseases, and other chronic & acute medical conditions.
Teleflex Medical is a global provider of medical equipments. The company focuses on designs to improve the health and quality of living of patients. Teleflex Medical operates in vascular & interventional access, surgical, anesthesia, cardiac care, urology, emergency medicine, and respiratory care segments.
Surgical Wound Closure Device Market Dynamics
Increase in number of surgical procedures
Surgical care is essential for managing diverse health conditions such as injuries, obstructed labor, malignancies, infections, and cardiovascular disease and an indispensable component of a functioning health system. The number of surgeries performed globally has been estimated at 234 million per year, and a very conservative estimate shows that 11% of the world's disability-adjusted life-years are from conditions that require surgical interventions.
Increase in incidence of chronic wound drives demand for wound closure devices
Chronic wounds are often termed ulcers and can be defined as wounds with a full thickness in depth and a slow healing tendency. It is estimated that 1% to 2 % of the population will experience a chronic wound during their lifetime in developed countries. The dramatic increase in the ageing population will increase the numbers of aged paitents as wound closure is negatively associated with age. Complications of chronic wounds include infection such as cellulitis and infective venous eczema, gangrene, hemorrhage, and lower-extremity amputations. Chronic wounds lead to disability and disability worsens wound outcomes, resulting in a vicious cycle.
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The increase in a number of plastic and cosmetic surgeries, increasing number of burns, trauma, and accidents, and sports-related injuries drive the market
According to the American Society of Plastic Surgeons’ annual plastic surgery procedural statistics, 17.5 million surgical and minimally invasive cosmetic procedures were performed in the U.S. in 2017, an increase of 2% over that in 2016. The statistics also reveal a rise in new trends in body-shaping procedures, with a spike in non-invasive fat reduction, as well as surgeries such as breast augmentations. An estimated 1.2 million people are killed in road crashes each year, and as many as 50 million are injured, occupying 30% to 70% of orthopedic beds in hospitals in developing countries. Nearly 30 million children and adolescents participate in youth sports in the U.S.
Surgical Wound Closure Device Market Segmentation
In terms of device, the global surgical wound closure device market can be classified into:
- Fibrin Tissue Adhesives
- Mechanical Wound Closure Devices
Based on application, the global surgical wound closure device market can be categorized into:
- Surgical Wounds
- Chronic Wounds
- Acute Wounds
- Pressure Ulcers
- Diabetic Ulcers
- Arterial Ulcers
In terms of end-user, the global surgical wound closure device market can be divided into
- Community Healthcare Service Providers
- Ambulatory Surgical Centers
- Home Care
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.