Wound Closure Products Market is projected to expand at a CAGR of 6.3% from 2014 to 2020
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According to Transparency Market Research, the global wound closure products market is expected to be worth US$15.2 bn by the end of 2023. On the basis of product, the market for sutures is witnessing a healthy demand as sutures are increasingly being preferred for wound closure. Advancements in technology are improving the capability and efficiency of surgical sutures, driving their demand. By geography, the Asia Pacific market for wound closure products will emerge as most lucrative in the years to come. As per the WHO, China had reported 90 mn cases of diabetes and India, 61 mn. This makes Asia Pacific a good market for wound closure products. North America, followed by Europe has been leading in the market on account of higher prevalence of diseases and quick acceptance of latest technology.
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Increasing Demand for Cosmetic Surgery Driving Growth of Market
The global wound closure products market is driven by the growing application in internal as well as external wounds. There are various surgical procedures that require sutures and tissue adhesives and this will boost the growth of the market. The application of tissue sealants in dental and bariatric surgeries is fueling the growth of the wound closure products market. This market will mainly be driven by the increasing number of surgical procedures across the globe
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The increasing demand for plastic and cosmetic surgeries due to accidents, traumas, burns, and congenital disability will fuel the growth of the global wound closure products market.
The demand for restoring, reshaping, and enhancing the appearance is also increasingly appealing to people worldwide. This too, will drive the demand for cosmetic surgery, in turn benefitting the wound closure products market.
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