New York, April 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Wound Closure Devices Global Market Report 2023" - https://www.reportlinker.com/p06450950/?utm_source=GNW
, DACH Medical Group, DeRoyal Industries Inc., Dolphin Sutures, Integra LifeSciences Corporation, IVT Medical Limited, Johnson & Johnson Services Inc., Chemence Medical Inc., Healthium Medtech Private Limited, Meril Life Sciences Private Limited, Futura Surgicare Private Limited, and Advanced Medical Solutions Group plc.
The global wound closure devices market is expected to grow from $14.64 billion in 2022 to $15.90 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The wound closure devices market is expected to grow to $21.46 billion in 2027 at a CAGR of 7.8%.
The wound closure devices market consists of sales of hemostatic agents and ligating clips.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Wound closure devices refer to internal consistency reliability and mechanical gear that help in wound closure by bringing wound tissue margins closer together. The wound closure devices are used to stop the bleeding, prevent infection, accelerate healing, and preserve the look and function of the damaged region.
North America was the largest region in the wound closure devices market in 2022. The regions covered in the wound closure devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of wound closure devices are adhesives, staples, sutures, strips, sealants, and mechanical wound closure devices.Adhesive refers to any substance that is capable of holding materials together in a functional manner by a surface attachment that resists separation.
The wound types are chronic and acute. The various end-users involved hospitals, clinics, trauma centers, and other end-users.
The increasing number of patients undergoing surgeries is expected to propel the growth of the wound closure devices market going forward.Surgery refers to a medical specialty that employs operative manual and instrumental procedures on a person to evaluate or treat a pathological condition, such as a sickness or injury, to enhance body function and attractiveness, or to mend undesirable ruptured regions.
Wound closure devices are used to treat chronic, traumatic, and surgical wounds, skin grafts, and flaps.For instance, in April 2022, according to the American Society for Aesthetic Plastic Surgery, a US-based organization of plastic surgeons, there has been a considerable growth in operations on the face, breast, and body.
Since 2020, attractive body operations such as abdominoplasty, buttock augmentation, and liposuction have climbed by 63%.Breast augmentation, augmentation with a breast lift, and breast lift with reduction treatments increased by 48%.
Last year, specialized facial surgeries such as brow lifts and facelifts increased by 54%. Therefore, the increasing number of patients undergoing surgeries is driving the growth of the wound closure devices market.
Technological advancements are a key trend gaining popularity in the wound closure devices market.Major companies operating in the wound closure devices market are focused on developing new technological solutions flexible across other elements to gain a competitive edge in the market.
For instance, in March 2021, Ethicon Endo-Surgery, a US-based advanced medical device company, launched an ECHELONTM+ Stapler with GST Reloads, a new powered surgical stapler that has been designed for increasing staple line security and will reduce complications through uniform tissue compression and better staple formation, even in challenging situations. This has Gripping Surface Technology (GST) reloads for more consistent compression to better capture and form staples, and a motor with Dynamic Firing, which optimizes firing speed in thick tissue to improve compression.
In December 2021, Essity AB, a Sweden-based hygiene and health company, acquired Hydrofera LLC for an amount of $116 million.This acquisition is expected to support Essity’s strategic goal of expanding its medical solutions business through acquisitions.
This agreement will increase Essity’s capability for innovation and broaden its selection of sophisticated wound care products. Hydrofera LLC is a US-based company operating in wound closure devices.
The countries covered in the wound closure devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The wound closure devices market research report is one of a series of new reports that provides wound closure devices market statistics, including wound closure devices industry global market size, regional shares, competitors with a wound closure devices market share, detailed wound closure devices market segments, market trends and opportunities, and any further data you may need to thrive in the wound closure devices industry. This wound closure devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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