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Wound Closure Products (Sutures, Surgical Staples, Wound Closure Strips, Adhesives and Tissue Sealants and Hemostats) Market

Wound Closure Products (Sutures, Surgical Staples, Wound Closure Strips, Adhesives and Tissue Sealants and Hemostats) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023

Wound Closure Products Market - Snapshot

Wound closure devices comprise specially made mechanical apparatus, staples, and sutures, which helps in the closure of wounds by handling the edges of the wound tissues together. Devices made for wound closure differ in size and design and might need pressure and tension adjustment when it is applied to a patient or when it is absorbed into the skin. However, it depends on the manufacturer and the function of the device. The global wound closure products market is estimated to be driven by the rising demand for its use in the treatment of pressure ulcers. Wound closure products find wide use in cases of surgical, traumatic, and chronic wounds and for skin flaps and grafts.

Increased Prevalence of Diabetes and Disabilities to Bolster Demand

Increasing incidences of disabilities together with rising geriatric population is estimated to shoot up the occurrences of pressure ulcers. As per the findings of US-based The National Center for Biotechnology Information (NCBI), in the US, nearly US$ 11 Bn is spent every year for pressure ulcer treatment.  NCBI also records that the in nursing home patients, the rate of prevalence of pressure ulcers is around 11% per year and for venous leg ulcer vary it is from 0.18% to 1 %. Venous leg ulcer is one of the most advanced types of chronic venous disorders and chances of recurrence are more than 70%. Such high occurrences of chronic wounds are estimated to propel growth of the global wound closure products market in the years to come.

In addition, there has been a surge in the number of surgical processes all over the world. Some of the chronic diseases that require wound closure products are

  • Autoimmune diseases
  • Cancer
  • Diabetes

Chronic wounds comprise conditions like pressure ulcer, venous leg ulcer, and diabetic foot ulcer. Expanding pool of geriatric population together with increased incidences of diabetes is estimated support growth of the global wound closure products market in the years to come.

Wound Closure Market: Snapshot

The demand for wound closure product is growing as result of increasing accident cases, and increase in number of surgeries across the globe. Further, prevalence of chronic wounds such as venous leg ulcers, pressure ulcers, and diabetic foot ulcers are likely to fuel the demand for wound closure products over forecast period 2015 and 2023.

Moreover, nowadays doctors and surgeons are opting for sutures which are quick-to-use, effective, and safe. Hence, in many developed and developing countries doctors refrain from using cotton, silk, cat gut, nylon, or stainless sutures on patients.

Demand for effective and quick to use sutures are some reasons behind innovation in wound closure products in the healthcare sector. Wound closure products have wide range of applications, which include post-surgery incisions, seal wounds, cosmetic surgeries and many more. Owing to various applications, sutures are available in various forms such as vascular clips, surgical sealants, thermal devices, stapling devices, ligatures, and glues. Owing to difference in nature of application, each of these products have their own set of advantages and disadvantages.

As per the report given by the market analysts of Transparency Market Research, the global wound closure market is projected to expand at a CAGR of 6.3% in between 2015 and 2023. The market size is valued to reach USD 15,222.7 million by the end of the forecast period.

New Kind of Wound Closure Products Reduce Need of Hospital re-visit for Removal of Sutures

Increasing cases of surgical procedures and use of sutures in internal and external wounds are major factors propelling the demand for wound closures products. Moving forward, technological advancements in the field have provided hemostat products which include sealants. These products have advantages over the conventional sutures products. Use of hemostat products result in faster healing of wounds in short period of time. Also, patients need not revisit hospitals for removal of staples or sutures. The factor is projected to drive the global wound closure market in the duration of forecast period.

Based on product type, the wound closure products market is divided into sutures, surgical staples, wound closure strips, adhesives and tissue sealants, and hemostats. Sutures are mainly of two types – absorbable and no-absorbable.

Prevalence of chronic wounds due to cardiovascular diseases, and diabetes are fueling the demand for tissue sealants segments and adhesives. These wounds poses high risk of infections.

Moreover, increasing number of plastic and cosmetic surgeries are likely to accelerate the growth of wound closure product market in the course of forecast period. These surgeries involve wide applications of various wound closure products in the entire process of the surgery.

On-going research and development activities are resulting in technological advancement in wound suture products. The advancements are likely to provide huge opportunities for expansion of wound closure product market over the forecast period.

High Adoption Rate of Healthcare Technologies in North America Opens Wide Opportunity for Wound Closure Products Market Expansion

North America, followed by Europe, is projected to dominate the global wound closure products market throughout the forecast period. This is predicted on the basis of rising cases of chronic and non-healing wound in the region. Also, developed countries in the region are inclined towards adoption of new healthcare technologies for better patient outcomes.

Prevalence of diabetes and other lifestyle diseases in Asia Pacific is more likely to play significant role in the expansion of wound closure products market throughout the forecast period.

Some of the pioneers in the global wound closure product market are Johnson & Johnson (Ethicon), Baxter International Inc., Covidien plc, B. Braun, and Cryolife.

Wound Closure Products (Sutures, Surgical Staples, Wound Closure Strips, Adhesives and Tissue Sealants and Hemostats) Market

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Chapter 1 Preface
1.1 Report Description
1.2 Global Wound Closure Products: Market Segmentation
1.3 Research Methodology
     1.3.1 Secondary Research
     1.3.2 Primary Research
     1.3.3 Assumptions
 
Chapter 2 Executive Summary
2.1 Market Snapshot: Global Wound Closure Products Market (2014 & 2023)
2.2 Comparative Analysis: Global Wound Closure Products Market, 2014 & 2023 (Value %)
 
Chapter 3 Global Wound Closure Products Market Overview
3.1 Market Dynamics
     3.1.1 Drivers
             3.1.1.1 Rising prevalence of lifestyle diseases such as diabetes and cardiovascular and related surgeries drive the demand for sophisticated tissue sealing alternatives
            3.1.1.2 New technology products boosting wound closure products market growth
     3.1.2 Restraints
            3.1.2.1 Lack of trained physicians restraining market growth of advanced wound closure products
            3.1.2.2 High cost of sealants and glues impeding effective penetration in low- and middle-income countries
     3.1.3 Opportunities
             3.1.3.1 Increasing opportunities in emerging economies
3.2 Porter’s Five Forces Analysis: Global Wound Closure Products Market
     3.2.1 Bargaining Power of Suppliers
     3.2.2 Bargaining Power of Buyers
     3.2.3 Threat of Substitutes
     3.2.4 Threat of New Entrants
     3.2.5 Competitive Rivalry
3.3 Market Attractiveness Analysis
     3.3.1 Market Attractiveness Analysis: Global Wound Closure Products Market, by Geography
3.4 Competitive Landscape
     3.4.1 Heat Map Analysis: Global Wound Closure Products Market
 
Chapter 4 Global Wound Closure Products Market, by Product Type
4.1 Overview
     4.1.1 Global Wound Closure Products Market Revenue, by Product Type, 2013 – 2023 (USD Million)
4.2 Sutures
     4.2.1 Global Sutures Market Revenue, by Product Type, 2013 – 2023 (USD Million)
     4.2.2 Absorbable Sutures
             4.2.2.1 Global Absorbable Sutures Market Revenue, 2013 – 2023 (USD Million)
     4.2.3 Non-absorbable Sutures
             4.2.3.1 Global Non-absorbable Sutures Market Revenue, 2013 – 2023 (USD Million)
4.3 Surgical Staples
     4.3.1 Global Surgical Staples Market Revenue, 2013 – 2023 (USD Million)
4.4 Wound Closure Strips
     4.4.1 Global Wound Closure Strips Market Revenue, 2013 – 2023 (USD Million)
4.5 Adhesives and Tissue Sealants
     4.5.1 Global Adhesives and Tissue Sealants Market Revenue, by Product Type, 2013 – 2023 (USD Million)
     4.5.2 Fibrin Sealants
             4.5.2.1 Global Fibrin Sealants Market Revenue, 2013 – 2023 (USD Million)
     4.5.3 Collagen-based Sealants
             4.5.3.1 Global Collagen Based Sealants Market Revenue, 2013 – 2023 (USD Million)
     4.5.4 Cyanoacrylate Based Sealants
             4.5.4.1 Global Cyanoacrylate Based Sealants Market Revenue, 2013 – 2023 (USD Million)
     4.5.5 Albumin and Glutaraldehyde Based Sealants
             4.5.5.1 Global Albumin and Glutaraldehyde Based Sealants Market Revenue, 2013 – 2023 (USD Million)
     4.5.6 Synthetic Polymer-based Sealants
             4.5.6.1 Global Synthetic Polymer Based Sealants Market Revenue, 2013 – 2023 (USD Million)
4.6 Hemostats (Surgical Hemostats, Hemostatic Dressings and Bandages)
     4.6.1 Global Hemostats (Surgical Hemostats, hemostatic Dressing and Bandages) Market Revenue, 2013 – 2023 (USD Million)
 
Chapter 5 Global Wound Closure Products Market, by Geography
5.1 Overview
     5.1.1 Global Wound Closure Products Market Revenue, by Geography, 2013 – 2023 (USD Million)
5.2 North America
     5.2.1 North America Wound Closure Products Market Revenue, by Country, 2013 – 2023 (USD Million)
5.3 Europe
     5.3.1 Europe Wound Closure Products Market Revenue, by Country, 2013 – 2023 (USD Million)
5.4 Asia Pacific
     5.4.1 Asia Pacific Wound Closure Products Market Revenue, by Country, 2013 – 2023 (USD Million)
5.5 Latin America
     5.5.1 Latin America Wound Closure Products Market Revenue, by Country, 2013 – 2023 (USD Million)
5.6 Rest of the World
     5.6.1 Rest of the World Wound Closure Products Market Revenue, 2013 – 2023 (USD Million)
 
Chapter 6 Recommendations
6.1 Focus on product branding through physician training
6.2 Research and development for product development
 
Chapter 7 Company Profiles
7.1 3M Health Care
     7.1.1 Company Overview
     7.1.2 Financial Overview
     7.1.3 Product Portfolio
     7.1.4 Business Strategies
     7.1.5 Recent Developments
7.2 ArthroCare Corporation
     7.2.1 Company Profile
     7.2.2 Financial Overview
     7.2.3 Product Portfolio
     7.2.4 Business Strategies
     7.2.5 Recent Developments
     7.3 B. Braun Melsungen AG
     7.3.1 Company Overview
     7.3.2 Financial Overview
     7.3.3 Product Portfolio
     7.3.4 Business Strategies
     7.3.5 Recent Developments
7.4 Biomet, Inc.
     7.4.1 Company Overview
     7.4.2 Financial Overview
     7.4.3 Product Portfolio
     7.4.4 Business Strategies
     7.4.5 Recent Development
7.5 Covidien plc
     7.5.1 Company Overview
     7.5.2 Financial Overview
     7.5.3 Product Portfolio
     7.5.4 Business Strategies
     7.5.5 Recent Developments
7.6 Derma Sciences, Inc.
     7.6.1 Company Overview
     7.6.2 Financial Overview
     7.6.3 Product portfolio
     7.6.4 Business Strategies
     7.6.5 Recent Developments
7.7 Ethicon, Inc.
     7.7.1 Company Overview
     7.7.2 Financial Overview
     7.7.3 Product Portfolio
     7.7.4 Business Strategies
     7.7.5 Recent Developments
7.8 Kinetic Concepts, Inc.
     7.8.1 Company Overview
     7.8.2 Financial Overview
     7.8.3 Product Portfolio
     7.8.4 Business Strategies
     7.8.5 Recent Developments
7.9 Medline Industries, Inc.
     7.9.1 Company Overview
     7.9.2 Financial Overview
     7.9.3 Product Portfolio
     7.9.4 Business Strategies
     7.9.5 Recent Developments
7.10 Smith & Nephew plc
     7.10.1 Company Overview
     7.10.2 Financial Overview
     7.10.3 Product Portfolio
     7.10.4 Business Strategies
     7.10.5 Recent Development
List of Tables
 
TABLE 1 Market Snapshot: Global Wound Closure Products Market (2014 & 2023)
TABLE 2 Global Wound Closure Products Market Revenue, by Product Type, 2013 – 2023 (USD Million)
TABLE 3 Global Sutures Market Revenue, by Product Type, 2013 – 2023 (USD Million)
TABLE 4 Global Adhesives and Tissue Sealants Market Revenue, by Product Type, 2013 – 2023 (USD Million)
TABLE 5 Global Wound Closure Products Market Revenue, by Geography, 2013 – 2023 (USD Million)
TABLE 6 North America Wound Closure Products Market Revenue, by Country, 2013 – 2023 (USD Million)
TABLE 7 Europe Wound Closure Products Market Revenue, by Country, 2013 – 2023 (USD Million)
TABLE 8 Asia Pacific Wound Closure Products Market Revenue, by Country, 2013 – 2023 (USD Million)
TABLE 9 Latin America Wound Closure Products Market Revenue, by Country, 2013 – 2023 (USD Million)

List of Figures 

 

FIG. 1 Global Wound Closure Products: Market Segmentation

FIG. 2 Comparative analysis: Global Wound Closure Products Market 2014 & 2023 (Value %)

FIG. 3 Global Wound Closure Products Market, by Products, 2014 (USD Million)

FIG. 4 Porter’s Five Forces Analysis: Global Wound Closure Products Market

FIG. 5 Market Attractiveness Analysis: Global Wound Closure Products Market, by Geography

FIG. 6 Heat Map Analysis: Global Wound Closure Products Market

FIG. 7 Global Absorbable Sutures Market Revenue, 2013 – 2023 (USD Million)

FIG. 8 Global Non-absorbable Sutures Market Revenue, 2013 – 2023 (USD Million)

FIG. 9 Global Surgical Staples Market Revenue, 2013 – 2023 (USD Million)

FIG. 10 Global Wound Closure Strips Market Revenue, 2013 – 2023 (USD Million)

FIG. 11 Global Fibrin Sealants Market Revenue, 2013 – 2023 (USD Million)

FIG. 12 Global Collagen Based Sealants Market Revenue, 2013 – 2023 (USD Million)

FIG. 13 Global Cyanoacrylate Based Sealants Market Revenue, 2013 – 2023 (USD Million)

FIG. 14 Global Albumin and Glutaraldehyde Based Sealants Market Revenue, 2013 – 2023 (USD Million)

FIG. 15 Global Synthetic Polymer Based Sealants Market Revenue, 2013 – 2023 (USD Million)

FIG. 16 Global Hemostats (Surgical Hemostats, Hemostatic Dressing and Bandages) Market Revenue, 2013 – 2023 (USD Million)

FIG. 17 Rest of the World Wound Closure Products Market Revenue, 2013 – 2023 (USD Million)

FIG. 18 3M Health Care: Annual Revenue, 2011 – 2013 (USD Million)

FIG. 19 ArthroCare Corporation: Annual Revenue, 2011 – 2013 (USD Million)

FIG. 20 B. Braun Melsungen AG: Annual Revenue, 2011 – 2013 (USD Million)

FIG. 21 LVB Acquisitions, Inc.: Annual Revenue, 2011 – 2013 (USD Million)

FIG. 22 Covidien plc: Annual Revenue, 2011 – 2013 (USD Million)

FIG. 23 Derma Sciences, Inc.: Annual Revenue, 2011 – 2013 (USD Million)

FIG. 24 Johnson & Johnson, Inc.: Annual Revenue, 2011 – 2013 (USD Million)

FIG. 25 Kinetic Concepts, Inc.: Annual Revenue, 2011 – 2013 (USD Million)

FIG. 26 Smith & Nephew plc: Annual Revenue, 2011 – 2013 (USD Million)

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