Wound Closure Devices Market worth $29.71 billion by 2030, growing at a CAGR of 7.44% - Exclusive Report by 360iResearch

The "Wound Closure Devices Market by Product (Adhesives, Mechanical Wound Closure Devices, Sealants), Wound Type (Acute Wounds, Chronic Wounds), Application, End-User - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Wound Closure Devices Market to grow from USD 17.97 billion in 2023 to USD 29.71 billion by 2030, at a CAGR of 7.44%.

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Wound closure devices are medical devices used to promote the healing of wounds through the physical closure of the skin. These devices are available in various forms, such as sutures, staples, and adhesives, to close wounds by operating on the edges of the wound tissue. The rising prevalence of road accidents & injuries globally and the increase in the incidence of chronic and acute wounds among people play a significant role in the increasing adoption of wound closure devices. In addition, adopting new smart bandages to improve clinical care for people with chronic wounds contributes to market growth. Moreover, increasing preference for minimally invasive surgeries and the high cost of wound closure devices is expected to hinder market growth. Furthermore, the ongoing development of advanced wound care technologies and expansion of burn-care centers in economies with improving healthcare infrastructure is anticipated to impact the adoption of wound closure devices positively.

The ongoing development of advanced wound care technologies in the Americas contributes to the growth of the wound closure devices market. Researchers and manufacturers continuously introduce innovative devices that facilitate efficient wound closure and promote faster healing, focusing on improving patient outcomes. In the APAC region, economies with improving healthcare infrastructure are witnessing an expansion of burn-care centers. This expansion is crucial for addressing the rising prevalence of road accidents and injuries, which has become a global concern. As countries in the APAC region continue to invest in their healthcare systems, the demand for effective wound closure devices is expected to rise, providing growth opportunities for market players. Across the EMEA region, the adoption of new smart bandages is revolutionizing clinical care for individuals with chronic wounds. These smart bandages incorporate technologies such as sensors and connectivity, enabling healthcare professionals to monitor wound healing remotely and provide timely updates. With the rising prevalence of chronic wounds, such as diabetic foot and ulcers, the demand for smart bandages is increasing in the EMEA region.

Market Segmentation & Coverage:

This research report categorizes the Wound Closure Devices Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Product, market is studied across Adhesives, Mechanical Wound Closure Devices, Sealants, Staples, Strips, and Sutures. The Adhesives is further studied across Acrylics, Biological Adhesives, Polyurethanes, and Silicone. The Sealants is further studied across Collagen Based, Non-Synthetic, and Synthetic. The Strips is further studied across Non-Sterile and Sterile. The Sutures is further studied across Absorbable and Non-Absorbable. The Strips commanded largest market share of 17.12% in 2023, followed by Mechanical Wound Closure Devices.

Based on Wound Type, market is studied across Acute Wounds and Chronic Wounds. The Chronic Wounds commanded largest market share of 54.22% in 2023, followed by Acute Wounds.

Based on Application, market is studied across Burns, Cardiology, Diabetic Foot Ulcers, General Surgery, Gynaecology, Ophthalmic, and Orthopedics. The General Surgery commanded largest market share of 38.16% in 2023, followed by Gynaecology.

Based on End-User, market is studied across Burn Care Centers, Clinics, Home Care Setting, and Hospital. The Hospital commanded largest market share of 59.09% in 2023, followed by Clinics.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across Alaska, California, Florida, Illinois, Massachusetts, Michigan, Montana, Nevada, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 41.21% in 2023, followed by Americas.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Wound Closure Devices Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Wound Closure Devices Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Wound Closure Devices Market, highlighting leading vendors and their innovative profiles. These include 3M Company, Abbott Laboratories, Advanced Medical Solutions Group PLC, Arthrex, Inc., Artivion, Inc., B. Braun SE, Bactiguard AB, Baxter International Inc., Becton, Dickinson and Company, Boston Scientific Corporation, Cardinal Health, Inc., Clozex Medical, Inc., Coloplast A/S, Convatec Group PLC, DermaClip US, LLC, DermaRite Industries, LLC, DeRoyal Industries, Inc., Dolphin Sutures by Futura Surgicare Pvt Ltd, DUKAL Corporation, DuPont de Nemours, Inc., Evonik Industries AG, Gentell, Harro Höfliger Verpackungsmaschinen GmbH, Healiva SA, Inotec AMD Limited, Integra LifeSciences Holdings Corporation, Johnson & Johnson Services, Inc., McKesson Corporation, Medela AG, MediWound, Medline Industries, LP, Medtronic PLC, Mölnlycke Health Care AB, RedDress Medical Ltd., Riverpoint Medical, Sky Medical Technology Ltd., Smith & Nephew PLC, Spectral AI, Inc., Stryker Corporation, SYLKE, and Teleflex Incorporated.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Wound Closure Devices Market, by Product
7. Wound Closure Devices Market, by Wound Type
8. Wound Closure Devices Market, by Application
9. Wound Closure Devices Market, by End-User
10. Americas Wound Closure Devices Market
11. Asia-Pacific Wound Closure Devices Market
12. Europe, Middle East & Africa Wound Closure Devices Market
13. Competitive Landscape
14. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Wound Closure Devices Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Wound Closure Devices Market?
3. What is the competitive strategic window for opportunities in the Wound Closure Devices Market?
4. What are the technology trends and regulatory frameworks in the Wound Closure Devices Market?
5. What is the market share of the leading vendors in the Wound Closure Devices Market?
6. What modes and strategic moves are considered suitable for entering the Wound Closure Devices Market?

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