Wound Closure Devices

Wound Closure Devices

The demand for wound closure devices is being driven by the growing number of chronic and acute wounds caused by accidents, falls, and other traumatic injuries, as well as by the increasing number of surgical procedures being performed worldwide. The current high demand for wound closure devices can be attributed to the increasing prevalence of chronic wounds such as diabetic wounds, venous leg ulcers, pressure ulcers, and acute wounds worldwide. According to the International Diabetes Federation, an estimated 40 to 60 million people have diabetic foot complications, and the Wounds UK 2021 report indicates that 15% of the population in the UK suffers from venous leg ulcers, 14% have surgical wounds, 9% have diabetic foot ulcers, and 6% have burns. These statistics suggest that the number of wounds requiring treatment is on the rise, which is expected to drive the demand for wound closure devices.

The Wound Closure Devices Market is expected to grow at a strong CAGR of ~6% during the forecast period owing to the increasing number of chronic and acute wounds and due to chronic disease-associated wounds. Additionally, recent product approvals and technological advancements in wound closure devices are expected to contribute to the growth of this market.

• Based on product type, the wound closure devices market is segmented into sealants & adhesives, staplers, sutures, and others. Amongst these, the sutures category is expected to dominate the market and is estimated to grow at a CAGR during the forecast period from 2023-2030, as these devices offer numerous benefits, such as high tensile strength and reduced risk of injuring the cutaneous circulation. Additionally, the recommendation of technologically advanced sutures by government organizations is driving the market growth for sutures. For instance, in June 2021, Ethicon Plus sutures were found to have antibacterial properties and were recommended for use in NHS hospitals by NICE Medical Technologies Guidance. This is expected to contribute to the growth of the wound closure devices market in the coming years. The interplay of these factors is likely to drive the demand for wound closure devices in the market during the forecast period.
• By wound type, the market is bifurcated into chronic wounds and acute wounds. Among these, acute wounds captured the majority share of the wound closure devices market in 2022, due to the high number of surgeries and burn cases worldwide. For instance, according to the World Health Organization (WHO), South Africa spends approximately USD 26.00 million annually on the treatment of burns resulting from kerosene cooking stove incidents. These types of acute injuries require prompt closure using advanced medical devices. The primary causes of burn cases, such as poverty, lack of proper safety measures, the use of kerosene for non-electric domestic appliances, alcohol abuse, and smoking, contribute to their high prevalence and driving the growth of the segment.
• For a better understanding of the market adoption of the wound closure devices industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and Rest of World. North America dominated the wound closure devices market in 2022. The dominant market share of the wound closure devices can be attributed to several factors, including the growing prevalence of chronic conditions that result in chronic wounds, an increase in traumatic wounds due to falls and accidents, a rise in expenditure on surgical and chronic wounds, and advancements in product technology. For example, in 2019, a total of 48.3 million people suffered from traumatic injuries, as reported by the National Safety Council in 2021. Motor vehicle incidents accounted for 4.5 million of these cases. The increasing prevalence of traumatic injuries in the country is expected to contribute to the growth of the wound closure devices market. Additionally, the U.S. Food and Drug Administration (FDA) has granted approval for various products intended for wound closure. For instance, in June 2020, Chemence Medical, Inc. received FDA clearance for its Exofin Fusion Skin Closure System, a tissue adhesive with additional wound closure devices for topical application in closing surgical incisions. This approval is expected to further boost the market for wound closure devices.
• Some of the major players operating in the market include Medtronic, Johnson & Johnson, B. Braun Melsungen AG, Baxter, Smith & Nephew, Stryker, Meril Life Sciences Pvt. Ltd., CooperSurgical Inc, Cardinal Health, and Integra LifeSciences Corporation.