Next Generation Wound Closure Device Market
Next Generation Wound Closure Device Market Study by Regular Sutures, Mechanical Sutures, Topical Adhesives, Non-invasive Wound Closure Devices for Hospitals, Clinics, and Others From 2024 to 2034
Analysis of Next Generation Wound Closure Device Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Next Generation Wound Closure Device Market Outlook (2024 to 2034)
Worldwide revenue from the sales of next generation wound closure devices market is estimated to stand at US$ 21.73 billion in 2024 and is slated to increase at a CAGR of 9.4% to reach US$ 53.57 billion by 2034.
Growth is linked to a rise in surgical operations, especially less invasive surgeries, and an increase in the occurrence of chronic wounds, such as diabetic foot ulcers and pressure ulcers. Furthermore, technical developments in wound closure products improve their safety and effectiveness, and the market is further stimulated by healthcare practitioners' increasing recognition of these devices' advantages. Moreover, the growing prevalence of sports injuries and auto accidents adds to the rising demand for efficient wound care treatments.
To seal wounds and surgical incisions after trauma or surgery, wound closure devices are crucial. They cover a wide range of goods, such as hemostatic agents, clips, staples, sutures, and stapling instruments. The rising frequency of diseases, including cancer and respiratory disorders that need surgical procedures is driving demand for these devices globally. The industry will continue to develop as sports injuries and auto accidents continue to rise.
Several wound closure devices are more popular because of their transparent designs, which improve control during application. The need for wound closure products is also driven by the increase in diabetic foot wounds and venous leg ulcers, which are mostly caused by the older population.
In response, more producers are launching cutting-edge technological solutions that streamline surgical processes. In addition, the growing number of patients having procedures and the increased awareness of minimally invasive surgeries are major drivers for the development of next-generation wound closure devices.
| Report Attributes | Details |
|---|---|
| Next Generation Wound Closure Device Market Size (2024E) | US$ 21.73 Billion |
| Forecasted Market Value (2034F) | US$ 53.57 Billion |
| Global Market Growth Rate (2024 to 2034) | 9.4% CAGR |
| Middle East & Africa Market Value (2034F) | US$ 1.89 Billion |
| South Asia & Pacific Market Share (2034F) | 22% |
| Topical Adhesives Segment Value (2034F) | US$ 6.43 Billion |
| United States Market Value (2034F) | US$ 18.59 Billion |
| Key Companies Profiled | 3M; Johnson & Johnson; Medtronic; Baxter; Integra LifeScience Holdings Corporation; Coloplast |
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What is the impetus Behind Rising Demand for Next-Generation Wound Closure Devices?
Accelerating demand for next-generation wound closure devices is noticed in closure strips, elastic skin closures, and antimicrobial skin closures in the healthcare sector, which is opening new opportunities. These devices are popular for their safety, reduced recovery time, and accuracy, which are leading to demand from end consumers. As recorded, the American Society of Plastic Surgeons in America noticed a 64% rise in consultation for cosmetic surgeries in 2020. These projects demand a high rate of surgeries to overcome distinct bodily effects.
The rising incidences of sports injuries and road accidents are noticed to see a rise in demand for wound closure devices in the forecast duration. The transparent designs of these devices allow control, and it is an important factor behind rising sales and a positive impact on production.
There is also a rise in diabetic foot wounds. Venous leg ulcers are expected to be drivers of rising demand. This rapid rise in patients with an ulcer is owing to the rise in the aging populace. These are rising no communicable diseases are stimulating infections and surgeries in the forecast duration. Industry manufacturers are launching technologically advanced devices to provide ease in surgical functions.
The increasing awareness of minimally invasive surgeries and the rising number of patients undergoing operations are responsibly driving the growth of the next-generation wound closure device market.
Top Restraints for the Next-Generation Wound Closure Device Market
The high cost associated with the next-generation wound closure devices is a restraint factor for the sales of products. The potentially high growth countries, such as Asia and Africa, cost sensitivity has an impact on the demand for next-generation wound closure devices.
The doctors in this region prefer traditional ways of treating wounds instead of the bio-engineered dressing options available. The uncertainty related to the supply of raw materials is affecting the production quantity and cost. As a result, maintaining a profit margin becomes a challenge for the manufacturers.
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Segment wise analysis
Sutures Remain the Key Revenue Channel in the Product Type
Based on the products, next-generation wound devices are segmented into adhesives, staples, and sutures. Mechanical wound closure devices are also available. Sutures, among all types, dominated in terms of market share. This rise is reasonably owing to the rise in accidents globally. These needles are attached to threats and come in different shapes, including variants such as non-absorbable and absorbable.
The absorbable sutures are fetching a higher share in the forecast duration. The staple segment is expected to notice the fastest growth over the forecast duration because stapling is easier than suturing. The staples need constant monitoring and care, as these are non-absorbable.
Based on the wound closures, the market is categorized into acute and chronic. The acute segment reigns in market share owing to the accelerated burn cases and surgeries globally. Poor countries, including African countries, notice a high rate of incidences of stove burning, which drives demand for acute wound treatment facilities. These acute injuries need immediate treatment and quick closures. The lack of safety features and poverty are reasons for higher burn cases.
Chronic wounds are required to treat ulcers, diabetes, and pressure ulcers. Increasing cases of chronic diseases and a rising aging populace are major factors responsible for a surge in demand for the next-generation wound device segment. The aging populace is more prone to chronic injuries, which is the impetus behind sales of next-generation wound devices in the forecast duration.
Based on the end usage, wound closure devices are used at trauma centers, hospitals, and clinics. The hospital usage of wound-treating devices dominates the usage segment. This domination is due to a rise in the number of accidental and surgery cases. However, the clinic segment is growing at a noteworthy CAGR for the forecast duration.
Region-wise insights
Painless Treatment to Drive Adoption in North American Market
The next-generation wound devices market is dominated by the North American region owing to big market players in the region and the penetration of chronic disorders. There is a progression in minimally invasive surgery awareness leading to aggregate demand for next-generation wound devices in the future.
The trend of painless treatment among consumers has observed noteworthy demand in this region and is leading production shortly. The US market is evaluated to tread on the historic pattern during the assessment duration 2024 to 2034.
Asia Pacific market is expected to grow faster than other regions in the forecast duration as there is a rising medical sector attracting manufacturers to enter into markets. There is also a surge in medical tourism, which probably fetch regional growth for next-generation wound devices. The rising government spending on health infrastructure is backing the possibility of a positive outlook in the next-generation wound devices market share for this region.
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Recent developments
The rising competition in the field is the cause of concern faced by manufacturers. The local manufacturers in various regions sell their products at lower rates to gain customer attention; this hinders sales of big brands. However, in developed countries, people give preference to high-quality products over price, in these countries top players are projected to maintain their highest share going forward.
Reduction in the prices of devices affects the entire revenue cycle of the firm affecting the growth forecast for products. Further, more manufacturers of next-generation wound devices are focusing on the growth prospects and use of technology for maintaining market dominance.
- Smith and Nephew in 2020 launched ARIA, which is a digital platform for patient care delivery with providers across the surgical scenario.
- Swift Medical is a leading next-generation digital wound closure company that announced a $ 35 Million Series B investment in 2021 to integrate artificial intelligence with wound closure devices to make them more advanced.
- In February 2019, Teleflex Incorporated received FDA approval for a device called ‘MANTA™ Device’, envisioned to seal femoral punctures post-medical procedures of vascular access and to advance the rate of wound healing.
Segmentation of the Next Generation Wound Closure Device Market Research
-
By Product Type :
- Regular Sutures
- Mechanical Sutures
- Topical Adhesives
- Non-Invasive Wound Closure Devices
-
By End User :
- Hospitals
- Ambulatory Surgery Centers
- Clinics
-
By Region :
- North America
- Western Europe
- Eastern Europe
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
Table of Content
- 1. Executive Summary
- 2. Industry Introduction, including Taxonomy and Market Definition
- 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
- 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections
- 5. Pricing Analysis
- 6. Global Market Analysis and Forecast
- 6.1. Product Type
- 6.2. End User
- 7. Global Market Analysis and Forecast, By Product Type
- 7.1. Regular Sutures
- 7.2. Mechanical sutures (Staplers)
- 7.3. Topical Adhesives
- 7.4. Non-Invasive wound closure devices
- 7.5. Others
- 8. Global Market Analysis and Forecast, By End User
- 8.1. Hospitals
- 8.2. Ambulatory surgery centers
- 8.3. Clinics
- 9. Global Market Analysis and Forecast, By Region
- 9.1. North America
- 9.2. Latin America
- 9.3. Western Europe
- 9.4. Eastern Europe
- 9.5. East Asia
- 9.6. South Asia & Pacific
- 9.7. MEA
- 10. North America Sales Analysis and Forecast, by Key Segments and Countries
- 11. Latin America Sales Analysis and Forecast, by Key Segments and Countries
- 12. Western Europe Sales Analysis and Forecast, by Key Segments and Countries
- 13. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries
- 14. East Asia Sales Analysis and Forecast, by Key Segments and Countries
- 15. South Asia & Pacific Sales Analysis and Forecast, by Key Segments and Countries
- 16. MEA Sales Analysis and Forecast, by Key Segments and Countries
- 17. Sales Forecast by Product Type and End User for 30 Countries
- 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
- 19. Company Profile
- 19.1. 3M
- 19.2. Johnson & Johnson Services, Inc.
- 19.3. B. Braun Melsungen AG
- 19.4. Medtronic
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List Of Table
Table 1: Global Market US$ Bn Forecast by Region
Table 2: Global Market US$ Bn Forecast by Product Type
Table 3: Global Market US$ Bn Forecast by End User
Table 4: North America Market US$ Bn Forecast by Country
Table 5: North America Market US$ Bn Forecast by Product Type
Table 6: North America Market US$ Bn Forecast by End User
Table 7: Latin America Market US$ Bn Forecast by Country
Table 8: Latin America Market US$ Bn Forecast by Product Type
Table 9: Latin America Market US$ Bn Forecast by End User
Table 10: Western Europe Market US$ Bn Forecast by Country
Table 11: Western Europe Market US$ Bn Forecast by Product Type
Table 12: Western Europe Market US$ Bn Forecast by End User
Table 13: Eastern Europe Market US$ Bn Forecast by Country
Table 14: Eastern Europe Market US$ Bn Forecast by Product Type
Table 15: Eastern Europe Market US$ Bn Forecast by End User
Table 16: East Asia Market US$ Bn Forecast by Country
Table 17: East Asia Market US$ Bn Forecast by Product Type
Table 18: East Asia Market US$ Bn Forecast by End User
Table 19: South Asia & Pacific Market US$ Bn Forecast by Country
Table 20: South Asia & Pacific Market US$ Bn Forecast by Product Type
Table 21: South Asia & Pacific Market US$ Bn Forecast by End User
Table 22: MEA Market US$ Bn Forecast by Country
Table 23: MEA Market US$ Bn Forecast by Product Type
Table 24: MEA Market US$ Bn Forecast by End User
Table 25: Region Market US$ Bn Forecast by Country
Table 26: Region Market US$ Bn Forecast by Product Type
Table 27: Region Market US$ Bn Forecast by End User
Table 28: North America Market US$ Bn Forecast by Country
Table 29: North America Market US$ Bn Forecast by Product Type
Table 30: North America Market US$ Bn Forecast by End User
Table 31: Latin America Market US$ Bn Forecast by Country
Table 32: Latin America Market US$ Bn Forecast by Product Type
Table 33: Latin America Market US$ Bn Forecast by End User
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List Of Figures
Figure 1: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 2: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by End User
Figure 3: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Region
Figure 4: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 5: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by End User
Figure 6: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 7: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 8: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by End User
Figure 9: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 10: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 11: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by End User
Figure 12: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 13: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 14: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by End User
Figure 15: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 16: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 17: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by End User
Figure 18: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 19: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 20: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by End User
Figure 21: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 22: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 23: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by End User
Figure 24: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 25: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 26: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by End User
Figure 27: Region Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 28: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 29: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by End User
Figure 30: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 31: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 32: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by End User
Figure 33: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is the projected growth outlook for the next generation wound closure device market?
The next generations wound closure device market is evaluated to expand at 9.4% CAGR and reach US$ 53.57 billion by 2034.
What factors drive demand for the next generation wound closure devices?
The rising number of accident cases, prevailing chronic wounds, and increased need for minimally invasive surgeries driving the market.
How big is the next generation wound closure device market in terms of value?
The global next-generation wound closure device market is valued at US$ 21.73 billion in 2024.
Next Generation Wound Closure Device Market