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(March 12, 2018)
Wound closure devices are apparatus that help in closing a wound by pulling the edges of the wound tissue together and aid in healing. Devices such as sutures, staples, adhesives, mechanical wound closure devices and strips aid in lending strength and tissue to the wound tissue, minimize tissue trauma and reduce risk of infection and excess scaring. Sutures can be divided into two categories: braided and monofilament. While braided sutures are more commonly used due to better knot security, monofilaments are more popular in cardiovascular, neurological and ophthalmic surgeries.
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Surgical procedures are the medical interventions, which create an incision or small wound at the location where surgery is performed in the patient's body. There is an increasing incidence of cardiovascular, orthopedic, gynecological, general, and ophthalmic surgeries, which result in the rise in demand for wound closure devices as it is designed to aid the wound and manipulate the edges of the wound tissue by closing the tissues together. Companies have made constant efforts to come up with innovations to improve the quality of life for a patient. Firms that have headed the campaign for innovations include Abbott Vascular’s ProGlide, Perclose and Prostar suture-mediated devices.
3M (US), Adhezion Biomedical (US), Aesculap, Inc (USA), Advanced Medical Solutions Group Plc (UK), Arthrex, Inc. (US), Braun Melsungen AG (Germany), CollPlant Ltd. (Israel), Connexicon medical (Ireland), ConvaTec Group PLC (UK), CP Medical, Inc.(US), Derma Sciences Inc. (US), Durect Corporation (US), Ethicon US LLC, Gecko Biomedical (France), Hollister Incorporated (US), IVT Medical Ltd (Israel), Imbed Biosciences (US), Arthrex (US), Baxter (US), BSN medical GmbH (Germany), CryoLife (US), DACH Medical Group (Germany), DeRoyal Industries (US), Dolphin Sutures (India), Fengh Medical (China), Smith & Nephew (UK), Sutura Inc. (US), and Welfare Medical (England), and others are some of the prominent players at the forefront of competition in the global wound closure device market and are profiled in MRFR Analysis. The increasing number of chronic injuries and surgeries influences the demand for effective and advanced technology in wound closure devices. The aging population demands for 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 is identified as one of the key trends behind the growth of the market.
The global wound closure device market is projected to grow at a CAGR of xx% during the forecast period 2017-2022.
Global Wound closure device Market - Regional Analysis
The global wound closure device market is segmented into five major regions including Americas, Europe, Asia Pacific, and Middle East and Africa region.
The Americas dominate this market, particularly North America due to high healthcare expenditure in the region. In North America, wound closure device market is driven due to increasing health awareness, rising chronic and lifestyle diseases, technological developments in healthcare applications, and appropriate insurance coverage.
Europe is the second largest market for global wound closure device owing to the technological advancement, macro economical and governing, development of new diagnostic centres and hospitals and healthcare expenditure is growing and healthcare infrastructure in developing economies is continuously improving.
Asia Pacific is the fastest growing and high potential market for wound closure device owing to the rise in efficiency it provides such as precision, safety and reduced recovery time, growth in awareness relating to wound care and growing volume of surgeries.
The Middle East & Africa region is expected to have limited growth due to some factors such as traditional healthcare practices, limited access and availability of the products, poor public healthcare expenditure etc.
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Global Wound closure device Market – Competitive Analysis
The global wound closure devices market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes wound closure devices market shares for global, Europe, North America, Asia Pacific, and South America. For instance, manufacturers such as B. Braun introduced hemostat product for severe hemorrhage having activated high-density (ADH) collagen that causes phagocytosis and enzymatic reaction hence, can be absorbed by the body within three weeks.
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