Wound Closure Market Global Market Opportunity Assessment Study 2025.

The global advanced wound closure market is expected to be around $15 billion by 2025. Some of the key driving factors for the market growth are, effectiveness of advanced wound closure products in enabling faster healing of chronic wounds, rising prevalence of chronic diseases around the world and increasing demand for minimally invasive wound closure procedures. According to a 2016 study conducted by the National Center for Biotechnology Information (NCBI), it is projected that 1 to 2% of the population in developed countries will experience a chronic wound in their lifetime. The study further states that around 6.5 million patients in the U.S. are affected with chronic wounds every year. With such high prevalence of chronic wounds, the demand for wound closure products is expected to significantly increase during the forecast period. However, high cost of wound closure products can hinder the market growth during the forecast period.

Product Outlook and Trend Analysis

Haemostatic and sealing agents are used to prevent excess blood loss during surgical repair procedures. Hemostasis refers to the formation of blood clot at the site of injury. Hemostatic agents prevent excess flow of blood either mechanically or by augmenting the coagulation cascade. Topical tissue adhesives also known as skin adhesives are effective in many skin wounds/cuts. They consist of liquid cyanoacrylate monomers that form long chains after polymerization to seal the wound edges. They are generally used to treat superficial skin wounds.

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Application Outlook and Trend Analysis

On the basis of applications, the global wound closure market is broadly segmented into chronic and acute wound care. Increase in the number of traumatic wounds and road accidents will favorably contribute to the growth of acute wound care segment over the forecast period. Rising geriatric population around the world and increasing incidence of lifestyle diseases such as diabetes has been majorly responsible for the increase in number of cases of diabetic foot ulcers and pressure ulcers in recent years.

Market Classification

Wound Closure Market, By Product, Estimates and Forecast, 2016-2025 ($Million)
Hemostatic and Sealing Agents

Fibrin Sealant
Surgical Sealant
Gelatin-based Sealant
Human Fibrinogen and Thrombin Fleece

Topical Tissue Adhesive
Wound Closure Devices

Mechanical Stapling Devices
Ligating Clips
Wound Closure Strips

Wound Closure Market, By Application, Estimates and Forecast, 2016-2025 ($Million)

Chronic Wound Care

Venous Leg Ulcers
Pressure Ulcers
Diabetic Foot Ulcers
Arterial Ulcers

Acute Wound Care

Surgical Wounds
Burns & Trauma

Research Methodology

We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.

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Data Mining

Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.

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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This release was published on openPR.