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Wound Closure Market Segments, Share, Growth Analysis, Trend, Research Report 2026

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Avani Sable
Wound Closure Market Segments, Share, Growth Analysis, Trend, Research Report 2026

The global wound closure market size was worth USD 13.24 billion in 2018 and is projected to reach USD 21.03 billion by 2026, exhibiting a CAGR of 6.0% during the forecast period. As per region, the market is fragmented into the Middle East and Africa, Europe, Latin America, Asia Pacific, and North America. Amongst these, in 2018, North America procured USD 5.06 billion wound closure market revenue and is likely to dominate throughout the forecast period. Wound Closure Market Size, Share & Industry Analysis, By Product Type (Sutures, Hemostatic Agents, Staplers, Staples, and Others), By Application, By End User, and Regional Forecast, 2019-2026

For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/wound-closure-market-102630

High Demand for Minimally Invasive Wound Closure Devices to Boost Growth

Since the past few years, the market is exhibiting tremendous technological advancements. They are mainly focused on lower incidence of hospital-acquired infection, reduced price, ease-of-use, and lesser healing time of the incision. Reputed companies are trying to bring about all these features in their products to gain more share. Besides, consumers are nowadays seeking out for minimally invasive devices so that they would reduce a healthcare professional’s time that is usually spent in the ER room, as well as the time for post-operative care. These factors are likely to accelerate the wound closure market growth during the forecast period. However, the rising number of product recalls may obstruct market growth.

Ongoing Advancements to Drive Growth of the Sutures Segment

By type, the market is segregated into staples, staplers, hemostatic agents, sutures, and others. Out of these, the sutures segment generated 30.0% wound closure market share in 2018. It is expected to lead the market in the coming years. This segment is further grouped into absorbable and non-absorbable. This growth is attributable to the ongoing advancements in the absorbable type of sutures. These are also conventional types of devices that are used extensively. The hemostatic agents segment would showcase considerable growth as they require lower post-operative maintenance and are very easy to use.

Rising Number of Surgeries to Favor Growth in Asia Pacific

In terms of region, the market is fragmented into the Middle East and Africa, Europe, Latin America, Asia Pacific, and North America. Amongst these, in 2018, North America procured USD 5.06 billion wound closure market revenue and is likely to dominate throughout the forecast period. It is likely to occur because of the increasing acceptance and higher adoption of state-of-the-art devices in this region.

 

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