Wound Closure Products Market Research Report by Product Type (Sutures, Staples, Adhesives & Tissue Sealants, Strips, Mechanical Wound Closure Devices, Hemostatic Agents), Wound Type (Diabetic Foot Ulcers, Pressure Ulcers, Surgical & Traumatic Wounds, Burns, Venous Leg Ulcers), End User (Hospital & Clinics, Homecare Settings, Long-Term Care Settings) - Global Industry Revenue Estimation and Demand Forecast to 2030

Market Overview

The global wound closure products market was valued at $6,540.1 million in 2021, and it is expected to reach $10,148.7 million by 2030, advancing at a CAGR of 5.0% between 2021 and 2030. This can be attributed to the rising geriatric population, surging prevalence of diabetes, growing healthcare expenditure, and technological advancements. Moreover, the surge in the volume of surgical procedures due to the increasing chronic disease and road accident cases propels the market growth.

Homecare Settings To Show Fastest Growth

Homecare settings will witness the fastest growth during the forecast, at a CAGR of around 6%. This can be ascribed to the rising geriatric population across the globe, increasing adoption of home healthcare services by this demographic, and surging usage of easy-to-use products. In addition, patients suffering from diabetic foot ulcers and accidental wounds usually require prolonged hospitalization, which can be difficult and costly for elderly patients. This creates a high demand for wound closure products that can be conveniently used in homecare settings.

Hospitals and clinics accounted for the largest revenue share in 2021, and this category is further projected to maintain its dominance during the forecast period. This can be attributed to the improving hospital infrastructure, availability of technologically advanced products and greater footfall of patients in these settings, and increasing accessibility of hospitals to populations of all income levels.

Rising Number of Surgical Procedures Propels Industry Growth

With the growing number of surgeries across the world, the need for surgical equipment and wound closure products increases. The primary reasons behind the surging volume of surgical procedures are the increasing rate of road accidents and rising prevalence of diabetes, necrotizing fasciitis, and cancer, which often result in nasty wounds that are hard to heal and require extensive care for a longer period. Additionally, chronic diseases require surgeries at some point, which, in turn, drives the demand for such products.

Further, the growing number of burn cases, high incidence of injuries in low-and middle-income countries, and rising number of diabetic patients across the world are propelling the count of surgeries, thus driving the wound closure products market size.

Sutures Contribute Majority of Revenue

Sutures accounted for the largest revenue share, around 35%, in 2021, and this category is further expected to maintain its dominance during the forecast period. This can be attributed to the wide usage of sutures to ligate the damaged tissue caused due to a surgery, cut, laceration, road accident, or injury; the increasing number of surgical procedures across the globe, and advancements in suturing materials. Moreover, sutures are used for the reduction of dead space, strengthening of wounds until healing, and reduction of the risk of bleeding and wound infection.

Surgical staples will register significant growth in revenue generation during the forecast period. This will be due to their usage to close large wounds, linear lacerations, and surgical wounds and accelerate the healing process. In addition, stapling is gaining popularity as it is easier, more rapid, and more consistent compared to suturing. Moreover, the availability of new, advanced staplers with options of single use and multiple use, makes them popular in hip arthroplasties, bariatric surgeries, Caesarean sections, bowel surgeries, and cholecystectomies.

Furthermore, wound closure strips held a significant revenue share owing to their flexibility, water resistance, less irritation, and ease of application. Moreover, the increasing pace of technological advancements in these products and their extensive usage in the management of long lacerations, skin tears, and post-operative surgical wounds will be responsible for the category’s growth in the coming years.

Surgical & Traumatic Wounds Contribute Majority of Revenue

Surgical & traumatic wounds accounted for the largest revenue share in 2021, and this category is further expected to dominate the market during the forecast period. This can be ascribed to the rising prevalence of chronic diseases, surging number of surgical procedures, increasing focus on regenerative medicine, and booming prevalence of long-term post-operative wounds.

Moreover, diabetic foot ulcers hold a significant revenue share in the market owing to the surging incidence of diabetes mellitus. Since elderly people are highly prone to diabetes and its complications, they need such closure products.

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North America Dominates Market

North America held the largest revenue share, around 40%, in 2021, and it is further expected to dominate the market during the forecast period. This is due to the growing prevalence of chronic diseases, such as diabetes, rising number of people suffering from road accidents and sports injuries, and presence of numerous companies offering such wound care solutions. Additionally,

• The U.S. accounted for the larger revenue share in the market, due to the presence of highly qualified and skilled surgeons, prominent players, and reimbursement policies for surgeries.

Europe held a significant revenue share in 2021 as well, which can be ascribed to the well-developed healthcare infrastructure, increasing number of product launches, growing number of trauma centers, rising adoption of technologically advanced wound care products, rising funding for wound care research, and growing awareness of wound management.

• European countries, including Italy, Germany, France, Spain, and the U.K., are experiencing an increase in their geriatric population. Thus, the demand for such closure products is likely to increase, associated with the rising cases of chronic diseases and surgical injuries in Europe.

APAC will register the fastest growth during the forecast period, with a CAGR of around 7%. This can be ascribed to the growing aging population, increasing volume of surgeries, rising count of road accidents, and burgeoning incidence of burns in the region. Moreover, the increasing R&D activities and high investment by governments and industry giants drive the market growth. In addition,

• China contributed the majority of the revenue in 2021 to the regional market, and it is expected to maintain its position during the forecast period. This is owed to the rising number of product launches, high competitiveness in the industry, and large manufacturing base for such products due to the advantage of cheap labor.

Technological Advancements Boost Market

The wound closure products market is undergoing a technological revolution because of the increase in the investment in the space. The cutting-edge medical devices guarantee functional wound closure that is non-invasive, visually pleasing, and pain-free or significantly less painful than those conducted with conventional approaches. They also hasten wound healing and decrease the risk of wound complications and recurrence, which enhances patients’ independence, functional status, and quality of life.

Moreover, companies in the wound closure strip market are expanding their manufacturing capabilities to produce zip-like skin closure systems that mirror classic skin closure systems, such as sutures, staples, and glue (cyanoacrylates). Additionally, several manufacturers are highly invested in R&D to develop zipline closure systems composed of adhesive strips and zip ties, which aid in wound closure and patient outcome enhancement. Additionally, the strips are safe and simple to apply, and their non-invasive nature has aroused the interest of healthcare providers.

Key Players in Wound Closure Products Market Are:

• 3M Company
• Mölnlycke Health Care AB
• Johnson & Johnson
• Medline Industries LP
• Cardinal Health Inc.
• Medtronic plc

Market Size Breakdown by Segment

The study offers a comprehensive market segmentation analysis along with market estimation for the period 2017-2030.

Based on Product Type

• Sutures
  • Absorbable
  • Non-absorbable
• Staples
• Adhesives & Tissue Sealants
  • Synthetic
  • Non-synthetic
  • Collagen-based
• Strips
• Mechanical Wound Closure Devices
• Hemostatic Agents

Based on Wound Type

• Diabetic Foot Ulcers (DFUs)
• Pressure Ulcers
• Surgical & Traumatic Wounds
• Burns
• Venous Leg Ulcers (VLUs)

Based on End User

• Hospital & Clinics
• Homecare Settings
• Long-Term Care Settings

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
• Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa