Wound Closure Devices Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Mar 2021
  • Pages: 120
  • SKU: IRTNTR70256
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The wound closure devices market size has the potential to grow by USD 4.50 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 6.80%. 

This report provides a detailed analysis of the market by product (sutures, hemostats, surgical staples, wound sealants, and wound strips), geography (North America, Europe, Asia, and ROW), and key vendors. 

Market Overview

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

  • 3M Co.
  • B. Braun Melsungen AG
  • Baxter International Inc.
  • DeRoyal Industries Inc.
  • Essity Aktiebolag (publ)
  • Johnson & Johnson
  • Medtronic Plc
  • Smith & Nephew plc
  • Stryker Corp.
  • Teleflex Inc.

 

The wound closure devices market is fragmented and the vendors are deploying growth strategies such as product innovations to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as rising demand for cosmetic and plastic surgeries to achieve growth opportunities. However, factors such as emerging minimally invasive surgeries will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the wound closure devices market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

This wound closure devices market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

Wound Closure Devices Market: Key Drivers and Trends

  • The rising demand for plastic and cosmetic surgeries is one of the primary growth factors for the wound closure devices market.
  • There is an increasing demand for plastic and cosmetic surgeries that are performed in case of congenital disability or disorder, trauma, accidents, and burns and to restore, reshape, enhance, and improve an individual's appearance and confidence.
  • Consumers are increasingly demanding minimally invasive and non-surgical procedures due to their lesser effect on the physical appearance post-surgery.
  • The increasing number of chronic injuries and surgeries is driving the demand for effective and advanced technology in wound closure devices.
  • The aging population demands sophisticated and advanced wound care technologies to help them recover faster. 
  • The technological advances in wound care significantly decrease the SSI, improve patient medical conditions, and reduce the length of stay in the hospitals. Such advancements in wound care technology are identified as one of the key wound closure devices market trends.

 

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Wound Closure Devices Market: Segmentation by Geography

Wound-Closure-Devices-Market-Market-Share-by-Region-2020-2025

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38% of the market’s growth will originate from North America during the forecast period. The US is the key market for wound closure devices in North America. Market growth in this region will be slower than the growth of the market in Europe and Asia.

The increased awareness among the physicians, nurses, and individuals related to improved healthcare facilities and regarding reducing infection rate will facilitate the wound closure devices market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Wound Closure Devices Market: Segmentation by Product

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There has been increased use of sutures in major areas of healthcare facilities such as hospitals and trauma centers. The demand for sutures is increasing and is expected to rise further during the forecast period, owing to its technological advancements. The sutures segment will be one of the fast growing segments during the forecast period.

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the wound closure devices market size.

 

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Wound Closure Devices Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive wound closure devices market growth during the next five years
  • Precise estimation of the wound closure devices market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the wound closure devices industry across North America, Europe, Asia, and ROW
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of wound closure devices market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The wound closure devices market growth will increase by $4506.00 million during 2020-2025.
The wound closure devices market is expected to grow at a CAGR of 6.80% during 2020-2025.
Technavio has segmented the wound closure devices market by product (Sutures, Hemostats, Surgical staples, Wound sealants, and Wound strips) and geographic (North America, Europe, Asia, and ROW).
3M Co., B. Braun Melsungen AG, Baxter International Inc., DeRoyal Industries Inc., Essity Aktiebolag (publ), Johnson & Johnson, Medtronic Plc, Smith & Nephew plc, Stryker Corp., Teleflex Inc. are a few of the key vendors in the wound closure devices market.
North America will register the highest growth rate of 38.18% among the other regions. Therefore, the wound closure devices market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the wound closure devices market growth are:
  • Rising demand for cosmetic and plastic surgeries
The wound closure devices market vendors should focus on grabbing business opportunities from the sutures segment as it accounted for the largest market share in the base year.
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