Wound Closure Market show exponential growth by 2025 | Smith & Nephew PLC, B. Braun Melsungen AG, 3M Company, Baxter International Inc., DeRoyalIndustries, Inc., Johnson & Johnson Services, Inc.
Major Market Players:
Major players operating in this Wound Closure Market are Smith & Nephew PLC, B. Braun Melsungen AG, 3M Company, Baxter International Inc., DeRoyalIndustries, Inc., Johnson & Johnson Services, Inc., Medtronic plc, CryoLife, Inc., Derma Sciences Inc. (acquired by Integra LifeSciences Holdings Corporation) and BSN medical GmbH (acquired by SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ)).
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Wound Closure Market Segmentation:
Hemostatic and Sealing Agents-
Human Fibrinogen and Thrombin Fleece
Topical Tissue Adhesive
Wound Closure Devices-
Mechanical Stapling Devices
Wound Closure Strips
Chronic Wound Care-
Venous Leg Ulcers
Diabetic Foot Ulcers
Acute Wound Care-
Burns & Trauma
Industry Outlook and Trend Analysis:
Chronic wounds are hard-to-heal wounds that proceed through the repair process without exhibiting a sustained and functional result. Complications of chronic wounds include different infections such as infective venous eczema, cellulitis, gangrene, lower-extremity amputations, and hemorrhage. Chronic wounds significantly impact the health and the quality of life of the patients and their families due to the low base rate of complete healing. They can lead to pain, loss of mobility and function, distress and anxiety, depression, social isolation and embarrassment, prolonged hospital stays leading to financial burden and even death. According to California Podiatric Medical Association (CPMA), 15% of people diagnosed with diabetes tend to develop a foot ulcer and 14 to 24% patients affected by foot ulcers will require amputation during their lifetime. Pressure ulcers and diabetic foot ulcers are long-lasting wounds instigated by elevated pressure and reduced angiogenic response i.e., less formation of new blood cells. Diabetic foot ulcers are categorized by redness, unusual swelling and odor from feet that are a few early symptoms.
A few of the key factors propelling the growth of wound closure market are the increase in demand for less invasive procedures, predominance of chronic diseases across the world, and enhanced technology in wound care products. As per NCBI, pressure ulcers happen in 30 to 85% of patients suffering from spinal cord injuries, within the first month of injury. Development of cost effective products directed towards particular wounds will lead this market further. Therefore, cost efficiency and enhanced technology coupled with odor and pain control are a few prime factors which will rule the evolution of wound closure market in the coming years.
Moreover, increasing aging population vulnerable to chronic diseases such as diabetes leading to the heightened risk of chronic wounds will further contribute to the market growth. The global share of older people increased from 9.2% in 1990 to 11.7% in 2013 and will reach 21.1% by 2050 (Source: United Nations Department of Economic and Social Affairs). Further, it states that the number of older people is projected to reach 2 billion in 2050 from 841 million people in 2013. However, high cost of wound closure products and technical assistance for using these products will hamper the market growth.
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Table of Contents:
4.Wound Closure market, By Product
4.2.The Wound Closure market Assessment and Forecast, By Product, 2016-2025
4.3.Haemostatic and Sealing Agents
4.4.Topical Tissue Adhesive
4.5.Wound Closure Devices
5.Wound Closure Market, By Application
5.2.Wound Closure market Assessment and Forecast, By Application, 2016-2025
5.3.Chronic Wound Care
To be continued...
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Regional Outlook and Trend Analysis:
In 2016, North America held a major share of the global wound closure market due to increasing prevalence of lifestyle diseases such as diabetes. Moreover, increasing number of surgical procedures performed every year is also expected to contribute the growth of North American Wound closure market during the forecast period. Asia-Pacific wound closure market is expected to exhibit significant growth during the forecast period owing to prevalence of unmet medical needs in emerging economies such as India and China and increasing focus on development of healthcare infrastructure in the region.
What our Wound Closure Market Report offers:
Wound Closure Market share assessments for the regional and country level segments.
Wound Closure Market share analysis of the top industry players.
Strategic recommendations for the new entrants.
Competitive landscaping mapping the key common trends.
Supply chain trends mapping the latest technological advancements.
Key Findings of the Research Study:
Increase in cases of road accidents and traumatic injuries are expected to largely contribute to the growth of wound closure market in coming years.
With development of advanced wound closure products that effectively reduce the time to heal the wounds, the adoption of wound closure products is set to increase considerably during the forecast period.
North America dominated the global wound closure market in 2016 due to increasing incidence of lifestyle disorders such as diabetes and growing geriatric population in the region.
Asia-Pacific wound closure market is projected to witness significant growth during the forecast period owing to high prevalence of unmet medical needs in the region, increasing disposable income and efforts to improve healthcare infrastructure in developing countries such as China and India.
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About Crystal Market Research:
Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
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