Wound Closure Market to Reach USD 21.03 Billion by 2026; Increasing Technological Developments to Aid Growth

The global wound closure market size is projected to reach USD 21.03 billion by 2026. It is set to gain traction from the rising technological advancements taking place since the past few years. It is therefore, upsurging the demand for minimally invasive devices. This information is published in a recent report by Fortune Business Insights™, titled, “Wound Closure Market Size, Share & Industry Analysis, By Product Type (Sutures, Hemostatic Agents, Staplers, Staples, and Others), By Application (Gynaecology, Cardiology, Orthopedics, Ophthalmic, General Surgery, and Others), By End User (Hospitals and Ambulatory Surgical Centers, Specialty Clinics, and Others), and Regional Forecast, 2019-2026.” The report further mentions that the market stood at USD 13.24 billion in 2018 and is set to exhibit a CAGR of 6.0% during the forecast period between 2019 to 2026.

Ethicon Gains 510(k) Clearance from FDA for Echelon Circular™ Powered Stapler

In September 2018, Ethicon Endo Surgery LLC, a designer, distributor, and developer of surgical equipment, headquartered in Scotland, declared that it bagged the 510(k) clearance from the FDA for its Echelon Circular™ Powered stapler. It is mainly developed to lower anastomotic complications in thoracic, gastric, and colorectal cancer surgeries.  

It offers two innovative technologies to cut off leaks without affecting the profusion. Hence, it leads to 61% lesser leaks as compared to DST Series™ EEA™ stapler by Medtronic. One of the technologies is the gripping surface technology that aids in delivering around 33% reduction in compressive forces. Whereas, the other is 3D stapling technology that enables even distribution of compression.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/wound-closure-market-102630

Increasing Number of Surgeries to Augment Growth

The Organization for Economic Co-operation and Development (OECD), an intergovernmental economic organization based in France, stated in a study that in the U.S., approximately 57,812 appendectomy surgeries were performed in the year 2017. It proves that the number of surgeries is increasing at a fast pace across the globe. Also, C-section surgeries are being carried out extensively. These factors are expected to drive the wound closure market growth in the coming years.

Furthermore, the high geriatric population is surging the number of orthopedic surgeries taking place across the globe. The most common one among them is knee surgery.  Apart from that, nowadays, patients mainly prefer advanced devices that will be able to lower the amount of scars post-surgery. Additionally, the rising number of plastic and aesthetic surgeries would also contribute to the market growth. However, the FDA’s implementation of notice regarding the safety of implantable surgical stapling devices may obstruct growth.

Key Players Aim to Generate Sales through Broad Product Portfolios

The market consists of numerous big, small, and medium companies. Amongst them, in 2018, Johnson and Johnson Services, Inc. generated around 80% of the total share of the global market. It occurred because of the company’s wide range of product portfolio, as well as pipeline products. The other companies are striving to keep up with the latest wound closure market trends for developing novel products as per the consumers’ needs. They are also trying to achieve fast track approvals from the FDA to distribute their products.

Fortune Business Insights™ lists out all the companies operating in the wound closure market. They are as follows:

• 3M


• Johnson and Johnson Service, Inc.


• Boston Scientific Corporation


• Medtronic


• B. Braun Melsungen AG


• Baxter


• Smith & Nephew


• Stryker


• CP Medical


• Cryolife


• Other prominent players

Noteworthy Industry Development-

• October 2019: Ethicon, a subsidiary of Johnson & Johnson based in the U.S., announced that the FDA recalled the company’s Echelon Flex™ ENDOPATH® staplers by identifying them as a Class I recall. It refers to the most serious type of recall. Usage of these devices may lead to death or grave injuries. As per the FDA, the recalled devices may include an out of specification component that can cause malformed staples.  

Further Report Findings-

• North America generated USD 5.06 billion in 2018 in terms of wound closure market revenue. This growth is attributable to the higher acceptance and adoption of technologically advanced wound closure devices.


• Asia Pacific is set to grow significantly owing to the upcoming regulatory approvals for minimally invasive stapling devices in this region.


• In terms of type, the sutures segment procured 30.0% wound closure market share in 2018 because of the ongoing technological advancements taking place.

The wound closure market can be segmented in the following way: