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Report Code: LS10661
Category : Healthcare
The growing need for reducing surgical expenditure has led to increasing demand for products that are able to improve the therapeutic outcome, and decrease the hospital stay tenure, which is majorly responsible for driving the growth of the global wound closure device market. On the basis of type, the global wound closure device market is segmented into mechanical stapling device, ligating clips, wound closure strips and others.
The mechanical stapling device segment would witness strong growth in the coming years, due to the increased efficiency, such as precision, safety, and reduced recovery time. The growing occurrence of chronic wound has increased the demand for efficient and cost effective wound healing products. Lifestyle diseases are majorly responsible for causing chronic wounds, such as diabetic foot ulcer, venous leg ulcer, and pressure ulcer. The risk involved with improper wound healing has promoted the demand for combination dressing, which is a modern way of wound dressing. By using the wound closing devices, the edge of wound tissues are pulled together for fast and effective healing.
The conventional wound closure techniques involve using sutures, also known as stitches. However, the modern methods for wound closure include adhesives, staples, sutures, hemostats, and sealants. Sutures are also available in various types such as braided, absorbable, monofilament, and non-absorbable. Monofilament sutures are commonly used in ophthalmic, neurological, and cardiovascular surgeries. The basic function of these devices is closure of wound, both externally and internally, and stop bleeding through hemostasis, which solidifies blood. However, the increasing demand for minimally invasive surgeries is responsible for hampering the growth of the wound closure devices market. Since, minimal invasion refers to reduced usage of wound strips, sutures as well as mechanical wound closure devices; the minimally invasive surgeries reduces the size of incisions made, hence lowering the requirement of wound closure devices market.
Cosmetic surgery is becoming more popular among the youngsters, and is also the fastest growing type of surgical procedure. Tissue sealants and hemostats are the preferred wound closure techniques for cosmetic surgery, as it ensures a positive aesthetic outcome, offering not only rapid hemostasis, but also reduces the chances of scarring or surgical site infections, as compared to the conventional wound closure devices.
The geographical divisions of the global wound closure devices market include North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America dominates the global market, owing to the presence of consumer base for knee replacement surgeries, spinal fusions, aesthetic surgeries, and hip replacement surgeries. In Asia-Pacific, the countries of the region are incapable of managing the huge inflow of patients in hospitals, which is increasing the demand for advanced wound closure devices, to facilitate faster wound closure and early discharge of existing patients.
The factors influencing the growth of the Asia-Pacific wound closure device market include development of new diagnostic centre and hospitals, increasing healthcare expenditure, and continuously evolving healthcare infrastructure in developing countries, such as India, China and Japan.
The major companies operating in the global wound closure device market include BSN medical, Baxter International, Teleflex Medical, Abbott Vascular, NeatStitch Ltd., Derma Sciences, and Ethicon Inc. (Johnson & Johnson).
Global Wound Closure Device Market Segmentation