Global Wound Closure Device Market Size, Share, Forecast Report, 2020-2027

The global wound closure device market is expected to grow during the forecast period (2018 to 2023) at a CAGR ~6.9%.

Wound closure devices are used for closure of the wound by pulling both the edges together. After surgical procedures, incisions and small wounds are created due to medical interventions. Wound closure devices are used for fast recovery and healing of such wounds. Growing volume of surgical procedures is the primary reason behind increasing the demand for wound closure devices. The increase in a number of plastic and cosmetic surgeries, increasing number of burns, trauma, and accidents, and sports-related injuries are expected to drive the growth of the market. The market is highly fragmented and major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.

Moreover, advancement in technology, decrease in a number of surgical site infections and attempts to reduce hospital stays for reducing surgical expenditure is contributing to the growth of the market. According to a survey conducted by the American Professional Wound Care Association (2017), chronic nonhealing wounds impact nearly 15% of Medicare beneficiaries (8.2 million). The estimated spending for primary wound diagnosis is USD 28 billion per year and the cost for secondary wound diagnosis is estimated to be USD 31.7 billion.

The risk associated with infectious wounds, side effects of wound closure devices, and unfavorable reimbursement policies may hamper the growth of the market during the assessment period.

Segmentation

The global wound closure device market has been segmented based on device, application, type of wound, and end-user.

On the basis of device, the market has been classified into adhesives, staples, sutures, and mechanical wound closure devices. Adhesives are furthers classified into fibrin tissue adhesives and cyanoacrylates. The sutures segment has been further divided into absorbable, non- absorbable, braided, and monofilament.

On the basis of application, the market has been classified into burns, ulcers, surgical wounds, pressure ulcers, diabetic ulcers, and arterial ulcers. On the basis of type, the surgical wounds segment has been sub-segmented into chronic wounds, acute wounds, and others.

The market, by end-user, has been segmented into hospitals, community healthcare service providers, ambulatory surgical centers, and home care.
Key Players

Some of the key players in the global wound closure device market are 3M, Abbott Laboratories, B. Braun Melsungen AG, Ethicon Inc., Medtronic., Smith & Nephew, Baxter International, BSN medical Inc., Derma Sciences, Kinetic Concepts, ConvaTec, DACH Medical Group, Arthrex GmbH, Gecko Biomedical, Integra LifeScience, and CP Medical.

Global Wound Closure Device Market, by Device

• Adhesives

• Fibrin tissue adhesives
• Cyanoacrylates

• Staples
• Sutures
• Absorbable
• Non-Absorbable
• Braided
• Monofilament
• Mechanical Wound Closure Devices

Global Wound Closure Device Market, by Application

• Burns
• Ulcers
• Surgical Wounds
• Pressure Ulcers
• Diabetic Ulcers
• Arterial Ulcers

Global Wound Closure Device Market, by Type of Wound

• Acute
• Chronic

Global Wound Closure Device Market, by End-User

• Hospitals
• Community Healthcare Service Providers
• Ambulatory Surgical Centers
• Home Care