Wound Closure Market to Grow at a Steady CAGR 2018-2026: Acelity L.P.Inc., Smith & Nephew plc, Johnson & Johnson, B. Braun Melsungen AG, ConvaTec Group plc, Baxter International
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In December 2015, Acelity, a wound care and regenerative medicine company acquired the SNaP therapy system, which is a disposable single patient use negative pressure wound therapy (NPWT) product portfolio from the Spiracur, Inc. SNaP therapy system allows the treatment of complex and head-to-heal wounds with portable, disposable and non-powered negative pressure technology. Moreover the strategic collaboration and acquisition to bring the innovative wound closure products in the market are expected to propel the growth of the wound closure market over the forecast period.
Some of the key players operating in global wound closure market are Acelity L.P.Inc., Smith & Nephew plc, Johnson & Johnson, B. Braun Melsungen AG, ConvaTec Group plc, Baxter International Inc., Integra LifeSciences Corporation, Medtronic plc, Molnlycke Health Care AB, and Cardinal Health, Inc.
The wound closure market is gaining significant traction due to increasing cases of surgical wounds, Ulcers, and associated cases of surgical site infections (SSIs) incidences. For instance, according to the data published in the National Center for Biotechnology Information (NCBI) in April 2016, diabetic foot Ulcers is a chronic complication of diabetes mellitus and it accounted to lifetime risk of developing foot Ulcers in a patient with diabetes ranges from 15% to 25%. Moreover the increasing incidences of diabetes mellitus is expected to fuel the growth of wound closure market.
According to the European Centre for Disease Prevention and Control (ECDC), between 2013 and 2014, 18,264 surgical site infections was reported from a total of 967,191 surgical procedures in the European Union. In addition, from 2011 to 2014, significantly increasing trend for the yearly percentage of SSIs in cholecystectomy operations was observed. According to the data published by Loyola University Health System in January 2017, SSIs are the most common and costly all of the hospital acquired infections and the estimated annual incidence of SSIs in the U.S. ranges from 1, 60,000 to 3, 00,000 and the estimated and annual cost ranges from US$ 3.5 billion to US$ 10 billion. Increased hospital stay could lead to the increase in the surgical site infections. Moreover the increasing incidences of surgical site infections leading to the formation of surgical wounds is expected to fuel the growth of wound closure market in near future.
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Global Wound Closure Market, By Product:
Tissue adhesive, sealant & Glues
Traditional/Basic Wound Closure Products
Global Wound Closure Market, By Application:
Venous Leg Ulcers
Acute & Sub-acute Ulcers
General Surgery Wounds
Oncology Surgery Wounds
Urology Surgery Wounds
Cardiovascular Surgery Wounds
Obstetrics & Gynecology Surgery Wounds
Neuro & Spine Surgery Wounds
ENT Surgery Wounds
Orthopedic Surgery Wounds
Plastic, cosmetics & reconstruction Surgery Wounds
Global Wound Closure Market, By End User:
Long-term care settings
Home Care Settings
Other end users
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