Enjoy complimentary customisation on priority with our Enterprise License!
The global wound closure strips market size is estimated to grow by USD 95.74 million at a CAGR of 4.32% between 2022 and 2027.
Wound closure strips are used with or as an alternative to sutures or staples for wound closure. In comparison to sutures and staples, wound closure strips demonstrate lower tissue trauma, faster closure time, lower risk of tissue strangulation, and lesser pain. by adhesively binding the outermost portion of the wound directly to a flush skin surface, wound closure strips are capable of facilitating wound healing. Thus, the scar tissue is minimized upon healing, thereby resulting in a better cosmetic outcome. Compared to closed with invasive sutures or staples, wound closure strips are also associated with reduced infection rates and overall morbidity. Furthermore, they are easier to apply and cause less pain compared with sutures or staples in conscious patients. Wound closure strips do not require follow-up visits, unlike sutures, and, thus, are more cost-effective for most patients.
Technavio has segmented the market into Application, Product, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
To learn more about this report, Request Free Sample
Hospital
The market share growth by the hospital segment will be significant during the forecast period. Wound closer strips are widely used in hospitals for the effective closure of wounds, such as surgical incisions, lacerations, and traumatic injuries. These strips are made of flexible and adhesive material, which acts to hold together the wound edges, encourage rapid healing, and reduce the risk of infection.
Get a glance at the market contribution of various segments View a PDF Sample
The hospital segment was valued at USD 162.57 million in 2017. In hospitals, wound closer strips are used by healthcare professionals, including surgeons, nurses, and other medical staff, during surgical procedures or as part of wound care management. In order to give more support and make sure that the wound is correctly closed, these strips are usually applied in the same manner as sutures or staples. Hospital settings require high-quality wound closer strips that are sterile and easy to apply.
Elastic wound closure strips
Elastic wound closure strips are sterile skin closure strips made of a porous, non-woven elastic backing coated with a pressure-sensitive, hypoallergenic adhesive. Some of their properties include elasticity, conformability, and strong adhesion. They are used to treat highly contoured areas where there is expected movement of the musculoskeletal system or significant edema, swelling, hematomas, or bloating. One of the primary advantages of elastic wound closure strips is that they can stretch to accommodate swelling, body movement, and contours. They are suitable to be used by patients and remain in place even during significant movement, making it possible to avoid maceration. It is expected to increase the demand for elastic wound closure strips, which will propel the elastic wound closure strips segment in the global market during the forecast period.
Reinforced wound closure strips
Reinforced wound closure strips are made of a non-woven, porous backing, which is layered with a pressure-sensitive, hypoallergenic adhesive. In order to enhance their durability, they are strengthened by polyester filament. They are mainly used in the closure of lacerations and surgical incisions, following an early suture/staple removal in emergency departments, operating rooms, clinics, and same-day surgery centers. One of the primary advantages of reinforced wound closure strips is that they provide general wound support with increased tensile strength and finer wound edge approximation. They're also resistant to extension and have a strong level of adhesion with shears. It is expected to increase the demand for reinforced wound closure strips, which will propel the reinforced wound closure strips segment in the global market during the forecast period.
For more insights about the market share of various regions View PDF Sample now!
North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The market growth in North America can be attributed to the high demand for superior medical technologies, the easy availability of a range of wound closure strips, and the high prevalence of superficial wounds, lacerations, and surgical incisions. Every year, nearly 8 million lacerations are treated in emergency departments in the US. Furthermore, initiatives to raise awareness of wound injuries have been undertaken by several public and private organizations in the region. The Canadian Association of Wound Care is a non-profit organization dedicated to advances in wound prevention and management. It focuses on promoting and supporting wound-related research, education, advocacy, and awareness. The rising public and private healthcare expenditure is also driving the growth of the market in North America.
The wound closure strips market in North America witnessed slow growth, mainly in 2020, owing to the outbreak of COVID-19, which severely affected countries such as the US and Canada. However, in H2 2021, lockdown restrictions in various countries were lifted due to the initiation of large-scale vaccination drives, which helped in the resumption of business activities. Moreover, the prevalence of acute wounds is rising alongside the increasing adoption of technologically advanced products, the rise in healthcare expenditure, and the growth in the number of advanced healthcare facilities are some major factors that are expected to help recover and stabilize the growth of the wound closure strips market in the region during the forecast period.
Buy Now Full Report and Discover More
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Argentum Medical LLC - The company offers wound closure strips such as 3M Steri Strip reinforced adhesive skin closures R1541, 3M Steri Strip reinforced adhesive skin closures R1542, and 3M Steri Strip reinforced adhesive skin closures R1542SB.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
The increasing focus on minimizing surgical site infections (SSIs) is driving growth in the wound closure strips market. Following pneumonia, SSIs are the second most common healthcare-associated infection. They can cause significant morbidity, with an additional risk of mortality. They are also related to increased healthcare-related costs due to prolonged hospital stays, repeated surgeries, nursing care costs, and drug treatment.
Thus, in order to reduce the incidence of SSIs, a growing number of healthcare facilities are adding antimicrobial agents to their infection prevention strategies, improve patient outcomes, and reduce costs. There is an increase in demand for wound closure strips with antimicrobial properties, which, in turn, is driving the market growth.
The increasing demand for products that enhance cosmesis is a key trend in the wound closure strips market. Products enhancing cosmesis are gaining in demand around the world. Wound closure strips facilitate wound healing by adhesively binding the underlying portions of the wound in direct contact with a flush skin surface. Thus, the scar tissue that forms during healing minimizes the appearance of stitch marks and closure lines.
Moreover, the use of wound closure strips has also demonstrated lesser scarring than staples or sutures. Furthermore, unlike sutures, there is no visible puncture mark or needlestick injury associated with the use of wound closure strips. Owing to such cosmetic benefits, many end-users prefer the use of wound closure strips over their alternatives, such as sutures and staples.
The lack of awareness and shortage of resources is a major challenge faced by the wound closure strips market. There's a worldwide shortage of wound centers and funding to pay for them. In the US and the UK, only a limited portion of the budget is allotted to wound care research. Therefore, given the capital-intensive nature of wound care treatment, many developing countries have limited access to wound care treatments due to financial constraints.
However, in a significant number of cases, improper wound care has resulted in severe disability, isolation, and amputation. There is also a shortage of trained doctors and nurses who have the skills needed to deal with wounds. Thus, the global shortage of wound care resources is, in turn, restricting the growth of the global wound closure strips market to a certain extent.
Buy Now Full Report and Discover More
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Wound Closure Strips Market Customer Landscape
The wound closure strips market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Wound Closure Strips Market Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.32% |
Market growth 2023-2027 |
USD 95.74 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.86 |
Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
Performing market contribution |
North America at 40% |
Key countries |
US, Canada, Germany, UK, and Japan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Argentum Medical LLC, B.Braun SE, Beiersdorf AG, Cardinal Health Inc., Coloplast AS, Dynarex Corp., Goldwin Medicare Ltd., Integra Lifesciences Corp., Johnson and Johnson, Lohmann and Rauscher GmbH and Co. KG, Medline Industries LP, Medtronic Plc, Milliken and Co., Molnlycke Health Care AB, Paul Hartmann AG, Smith and Nephew plc, Triage Meditech Pvt. Ltd., 3M Co., ConvaTec Group Plc, and Essity AB |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
View Sample PDF at your Fingertips
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.