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
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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
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.
Global Wound Closure Products Market: Overview
The global wound closure products market is benefitting from the rising application of wound closure products in several types of injuries. Wound closure products are used for severe injuries such as diabetic foot ulcers and pressure ulcers that require external assistance to prevent infection and to accelerate healing. Wound closure products include sutures, wound closure strips, surgical staples, hemostats, and adhesives and tissue sealants.
The report on wound closure products market is appropriately segregated based on product type and geography. The sutures product segment is likely to exhibit a healthy demand due to the efficacy of sutures for wound closure.
The report is a creditable tool that has been prepared using industry-centric analytical tools and proven research methodologies. The analysis of key segments under different categories can render gainful opportunities for market stakeholders. The market drivers, challenges, and opportunities discussed herein can help market stakeholders to formulate winning strategies.
Global Wound Closure Products Market: Trends and Opportunities
The rising application of wound closure products for treating internal and external wounds is primarily driving the wound closure products market. Unlike minor cuts and bruises that heal on their own, deep wounds need external assistance such as sutures and tissue adhesives to prevent infection and speed up healing.
The increasing number of surgical procedures globally is also a key growth driver of the wound closure products market. Suture and staples are long-established wound closure products due to their low cost and ease of application. However, novel hemostat products such as sealants are gaining adoption due to advantages of faster wound closure in lesser time. These products also saves hospital visit as required for post healing removal of sutures and staples.
The demand for absorbable sutures is pacing up owing to their increasing application for both internal and external wound closure. Various surgical procedures such as peripheral bypass and aortic calve replacement use combination of sutures or staples and tissue adhesives for wound closure.
The rising incidence of lifestyle diseases such as cardiovascular diseases and diabetes and reluctance to use sutures due to development of scars and risk of infection are driving the adoption of adhesives and tissue sealants.
Global Wound Closure Products Market: Geographical Analysis
Among prominent regional segments in the wound closure products market, North America held supremacy in the recent past. Powered by innovations and introduction of newer medical devices in the U.S., North America is anticipated to hold on to its dominant position over the forecast period. As per a study published in 2009 in Wound Repair and Regeneration, in the U.S., more than 2% of the population suffers from chronic non-healing wounds.
Europe trailed North America in terms of market share in wound closure products market in the recent past. As per statistics presented in the Journal of Wound Care, the incidence of chronic wounds is over 4 million each year in the European Union. Thus, the high prevalence of chronic wounds and early adoption of new technology are benefitting the wound closure products market in these regions.
Asia Pacific is anticipated to emerge as the most lucrative regional market. India and China display a surging incidence of obesity and diabetes. As per statistics of the World Health Organization, in 2011, diabetes was diagnosed among 90 million adults and 61 million adults in China and India respectively.
Global Wound Closure Products Market: Competitive Landscape
Due to the presence of several players of varying sizes, the global wound closure products market features intense competition. Product innovation and improvement of existing products are the focus of key vendors in the market to increase their market share.
Key players profiled in the report include Cryolife, Baxter International Inc., Covidien plc., Johnson & Johnson, and B. Braun.
The global wound closure products market is segmented as follows;
Global Wound Closure Products Market, by Product Type
- Absorbable Sutures
- Non-Absorbable Sutures
- Surgical Staples
- Wound Closure Strips
- Adhesives and Tissue Sealants
- Fibrin Sealants
- Collagen Based Sealants
- Cyanoacrylate Sealants
- Albumin and Glutaraldehyde Based Sealants
- Polymer Based Sealants
Global Wound Closure Products Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Rest of the World