Rising Surgery Volume Driving Wound Closure Products Market

The wound closure products market valued $9,517.1 million in 2015 and is predicted to grow at a 6.3% CAGR during the forecast period (2016­–2022). The market is prospering due to the increasing burn cases, incidence of chronic wounds, volume of surgeries, geriatric population, and road accidents. Wound closure products are used for the treatment of chronic and surgical wounds. They are primarily used to accelerate the wound healing process by joining the edges of the wound, and they also prevent wound dehiscence and entry of infectious agents.

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On the basis of type, the wound closure products market is divided into hemostats, surgical staples, wound closure strips, sutures, and adhesives & tissue sealants. Out of these, sutures held the largest share of the market during the historical period (2012–2015) and are expected to retain their position during the forecast period. This is attributed to their assistance in rapid wound healing and reduction of chances of infection by joining the edges of the wound. Hemostats are projected to grow at the highest CAGR during the forecast period.

When application is taken into consideration, the wound closure products market is categorized into general, cardiovascular, orthopedic, gynecological, and ophthalmic surgeries and others. Among these, cardiovascular surgeries occupied the largest share of the market during the historical period, and the category is further expected to grow at the highest CAGR during the forecast period. This is due to the active use of wound closure products in different cardiovascular surgeries, such as coronary bypass, and valve, atrial, hypertrophic cardiomyopathy, and aorta surgeries.

Some of the key companies operating in the wound closure products market include 3M Company, Medtronic plc, Smith and Nephew plc, CryoLife Inc., DeRoyal Industries Inc., Pfizer Inc., Derma Sciences Inc., Johnson and Johnson, B. Braun Melsungen AG and Baxter International Inc.

GLOBAL WOUND CLOSURE PRODUCTS MARKET SEGMENTATION

By Type

• Sutures
• Absorbable
• Non-Absorbable
• Hemostats
• Thrombin Based
• Oxidized Regenerated Cellulose Based
• Combination
• Gelatin Based
• Collagen Based
• Adhesives and Tissue Sealants
• Fibrin Based
• Collagen Based
• Cyanoacrylate Based
• Synthetic Polymer Based
• Albumin and Glutaraldehyde Based
• Surgical Staples
• Wound Closure Strips

By Application

• Cardiovascular Surgeries
• General Surgeries
• Gynecological Surgeries
• Orthopedic Surgeries
• Ophthalmic Surgeries
• Others Surgeries

By Region

• North America- U.S. and Rest of North America
• Europe- U.K., Germany, France and Rest of Europe
• Asia-Pacific - China, Japan, India and Rest of Asia-Pacific
• Rest of the World (RoW)- Brazil and Rest of Rest of the World