Laceration Closure Devices Market 2024-2033: Growth Analysis & Industry Trends

The Business Research Company recently released a comprehensive report on the Global Laceration Closure Devices Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The laceration closure devices market size has grown strongly in recent years. It will grow from $8.98 billion in 2023 to $9.64 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to rising disability rates, an increasing incidence of infectious and non-communicable diseases, an increasing number of surgical procedures, an increase in accidents and sports-related injuries, and a growth in healthcare expenditure.

The laceration closure devices market size is expected to see strong growth in the next few years. It will grow to $12.89 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to the increasing use of technology in cosmetic or plastic operations, the increase in the number of surgical procedures, the rising incidence of infectious and non-communicable diseases, the demand for skin closure devices, and the and the rising incidence of chronic wounds. Major trends in the forecast period include the expansion of healthcare infrastructure, technology in cosmetic or plastic operations, technological advancements in laceration closure devices, and strategic mergers and acquisitions.

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Market Drivers and Trends:

An increase in the number of surgical procedures is expected to propel the growth of the laceration closure device market going forward. Surgical procedures are medical operations that involve invasive techniques to diagnose, treat, or manage injuries, diseases, or conditions. The number of surgical procedures is rising due to aging populations, advances in medical technology, and increasing demand for elective surgeries. Laceration closure devices are beneficial in surgical procedures for their efficiency in closing wounds, reducing procedure time, minimizing tissue trauma, and promoting faster healing compared to traditional sutures. For instance, in September 2023, according to the International Society of Aesthetic Plastic Surgery (ISAPS), a US-based professional body for aesthetic plastic surgeons, breast augmentation is projected to retain its status as the most prevalent surgical procedure among women, with 2.2 million procedures performed in 2022, marking a 29% rise from 2021. Therefore, an increase in the number of surgical procedures is driving the growth of the laceration closure device market.

Major companies operating in the laceration closure devices market are focusing on developing innovative solutions, such as skin closure variety packs, to enhance the efficiency and effectiveness of wound management. Skin Closure Variety Packs are pre-packaged assortments of various skin closure devices, such as sutures, staples, adhesive strips, and tissue adhesives, designed to cater to different wound closure needs. For instance, in November 2021, Kitotech Medical Inc., a US-based manufacturer of innovative wound closure devices, launched the microMend Skin Closure Variety Pack. This pack offers a selection of skin closure devices designed to treat wounds of varying sizes. The variety pack enables consumers to have the appropriate microMend product readily available for their wound care needs. This comprehensive solution combines the microMend skin closure device with a hemostatic dressing to halt bleeding, allowing consumers to effectively address significant cuts and lacerations at home without the need for an emergency room visit. The micro end skin closure devices utilize patent-pending micro staple technology to secure the device to the skin, providing the same level of holding strength as sutures but with a quicker application process.

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Major Key Players of the Market:

Cardinal Health Inc., Johnson & Johnson, 3M Company, Medtronic plc, Becton Dickinson and Company (BD), Stryker Corporation, Baxter International Inc., Boston Scientific Corporation, B. Braun Melsungen AG, Zimmer Biomet Holdings Inc., Smith & Nephew plc, Terumo Corporation, Dentsply Sirona Inc., Teleflex Incorporated, Arthrex Inc., Coloplast Group, ConvaTec Group PLC, Integra LifeSciences Corporation, Merit Medical Systems Inc., CryoLife Inc., Mölnlycke Health Care AB, Aspen Surgical Products, Wound Care Technologies Inc., BSN medical GmbH

Laceration Closure Devices Market 2024 Key Insights:

• The laceration closure devices market size is expected to see strong growth in the next few years. It will grow to $12.89 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.
• Impact Of Surgical Procedure Growth On Laceration Closure Device Market
• Innovative Skin Closure Variety Packs Enhance Wound Management Efficiency And Effectiveness
• North America was the largest region in the laceration closure devices market in 2023

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