Next Generation Wound Closure Devices Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Teleflex, Smith and Nephew, Covidien, Medtronic PLC

The global wound closure devices market was worth USD 20.3 billion in 2020 and is predicted to grow at a 7.9% CAGR during the forecast period.

Next Generation Wound Closure Devices Market Overview

The prevalence of chronic wounds, an increase in the number of accidents, and an increase in the number of surgeries are driving up demand for wound closure devices. Over the projected period, it is anticipated that the prevalence of chronic wounds such as pressure ulcers, venous leg ulcers, and diabetic foot ulcers will increase. The healthcare industry's growing need for next-generation wound closure devices, such as elastic skin closures, topical skin adhesives, antimicrobial skin closures, and reinforced skin closures, is projected to present producers with a wide range of business prospects. The advantages of these gadgets, such as their high effectiveness in ensuring safety, their ability to recover quickly, and their precision, are what primarily drive sufficient demand from consumers.

As the world's population is increasingly getting older and the prevalence of impairments is expanding, pressure ulcers are becoming more common. According to NCBI, around USD 11.0 billion is spent annually in the U.S. on the treatment of pressure ulcers. Additionally, about 11.0 % of nursing home residents experience pressure ulcers each year. Similar to this, according to NCBI, the prevalence rate of venous leg ulcers ranges from 0.18 % to 1.0 percent. The most severe type of chronic venous diseases are venous leg ulcers, which have a recurrence rate of more than 70.0 percent. Over the projected period, it is expected that a high frequency of chronic wounds will fuel demand for wound closure devices.

Industry News and Updates:

Feb. 6, 2019: Teleflex granted FDA approval for vascular closure device--

Teleflex announced it received FDA premarket approval for a device designed to seal femoral punctures following vascular access medical procedures and to speed wound healing. The Manta device is intended specifically for large bore femoral arterial access site closure. The company said its Safe Manta IDE clinical trial met all primary and secondary endpoints and showed that the device achieves fast, reliable wound closure with rapid hemostasis, or healing.

14-Jun-2022: Smith & Nephew forms joint venture with Beiersdorf and buys Beiersdorf’s advanced woundcare business—

Smith & Nephew, the global medical devices company, and Beiersdorf AG today announce the creation of a global joint venture that will combine their traditional woundcare, casting, bandaging and phlebology businesses and have pro forma annual sales in excess of £300m. Smith & Nephew has also agreed to acquire the advanced woundcare business of Beiersdorf for £30m in cash. 

What are the major Applications, Types and Regions for Next Generation Wound Closure Devices Market?

Market is segmented based on the type, applications, companies and regions.

By Type, it is segmented into

• Regular Sutures


• Mechanical Sutures (Staplers)


• Topical Adhesives


• Non-Invasive Wound Closure Devices


• Others

By Application, it is segmented into

• Hospitals


• Clinics


• Other

Next Generation Wound Closure Devices Market Regional Analysis

North America dominates the wound closure device market. One of the world's biggest markets for wound closure devices is the US in particular. Consumer demand for painless treatments has been noted to be significant in this area and is most likely to drive manufacturing in the near future. During the evaluation period 2021–2027, the US market is anticipated to follow the historical trend. Healthcare will be the industry driving demand for wound closure devices in the US and Canada. During the evaluation period, it is predicted that the increasing government investment on healthcare infrastructure development will result in acceptable sales growth.

The Asia Pacific market is expected to grow the fastest throughout the projected period. The increase in medical tourism in the area is responsible for the market's expansion. For instance, 58,300 medical tourists travelled to India on medical visas in 2019–2020, according to a study on Export Health Services by the Directorate-General of Commercial Intelligence and Statistics of India. Regional growth will be fuelled by the introduction of cutting-edge medical gadgets that can be utilised to quickly and effectively repair wounds.

• North America
  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

The Next Generation Wound Closure Devices Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Next Generation Wound Closure Devices Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.

What is our Next Generation Wound Closure Devices Market report scope?

Key Takeaways from this Next Generation Wound Closure Devices Market Report

• Evaluate Next Generation Wound Closure Devices market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.


• Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.


• Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.


• Analyze the sales and distribution channels across geographies to enhance top-line revenues.


• Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.


• Get a quick outlook on the Next Generation Wound Closure Devices market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.


• Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.

Frequently Asked Questions

What is the growth rate of Next Generation Wound Closure Devices Market?

The Next Generation Wound Closure Devices Market is growing at a CAGR of 7.9% over the next 5 years.

Who are the key players in Next Generation Wound Closure Devices Market?

Teleflex, Smith and Nephew, Covidien, Medtronic PLC, Derma Sciences, Integra Lifescience, Ethicon US, 3M Healthcare, Abbott, Wound Care Technologies, DermaRite Industries, Dukal Corporation, BSN Medical, B Braun Melsungen, NeatStitch Ltd., Baxter International, ZipLine Medical

What are the significant types of Next Generation Wound Closure Devices Market?

Regular Sutures, Mechanical Sutures (Staplers), Topical Adhesives, Non-Invasive Wound Closure Devices, Others

What are the major end-use applications of Next Generation Wound Closure Devices Market?

Hospitals, Clinics, Other

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