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 global wound closure market size was valued at 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. North America market size was worth USD 5.06 billion in 2018.

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Wound closure devices include a range of products such as stapling devices, sutures, hemostatic agents, clips, staples, among others. Worldwide there is a rise in the prevalence of diseases that require surgical intervention such as cancer, chest infection, respiratory diseases among others. This is expected to drive the wound closure market growth in the coming years. Various devices in the market offer different benefits in surgical wound healing. Surgical sutures are a more conventional method of incision closure and offer better securement of the wound for healing. However, hemostatic agents and stapling devices offer better convenience and lower time for wound healing compared to sutures. Staples provide more aesthetic appeal with the lesser appearance of scars after surgery.

MARKET TRENDS

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Shift from Conventional Suturing Methods to Stapling Devices and Other Wound Closure Devices

The shift from conventional suturing techniques for wound closure to technologically advanced devices such as staplers, clips, and hemostatic agents is widely observed in the market. This is predominantly witnessed in developed countries such as the U.S., Germany, Japan and emerging countries such as China, and India. The recent technologically advanced minimally-invasive stapling devices provide ease of use to healthcare professionals and lower healing time for the patients. This is one of the significant trends witnessed in the market.

MARKET DRIVERS

Increasing Number of Surgeries Worldwide is Estimated to Boost the Market

The increasing number of surgeries globally is predominantly driving the market. In the past years, the market has witnessed a surge in the adoption of wound closure devices, owing to a rise in the prevalence of diseases requiring surgical intervention. According to the data published by the Organization for Economic Co-operation and Development (OECD), around 57,812 appendectomy surgeries were carried out in the U.S. in the year 2017. Additionally, at a global level, C-section surgeries also remain one of the top surgeries performed.

The increasing geriatric population also has influenced the rise in orthopedic surgeries around the globe, the most common being knee surgery. Additionally, the preference of devices that reduce the appearance of scars post-surgery among patients has increased the demand for staplers in this market. This market growth is also supported by the rise in aesthetic and plastic surgery around the world. According to the American Society of Plastic Surgeons, 1.8 million cosmetic surgeries were performed in the U.S. in 2018. These factors, combined with others, are anticipated to bolster the market growth during the forecast period.

Increasing Technological Advancements in Wound Closure Devices is Estimated to Foster Product Demand

The market is witnessing an ever-developing technological advancement in recent years. These advancements are focused on the lesser healing time of the incision, ease of use, price, and lower incidence of hospital-acquired infection. Key market players are emphasizing on these factors to garner significant market share. For instance, Intuitive Surgical Inc. in September 2018 declared that the company received the USFDA approval for Sure Form 60, a minimally invasive surgical stapling device. These minimally invasive stapling devices can be used for laparoscopic procedures reducing time in post-operative care and time required by a healthcare professional in the emergency room. There is also an ever-growing demand for innovative wound closure devices among the patients that is estimated to drive the market value in the forecast period.

MARKET RESTRAINT

Infections Caused Due to Wound Closure Devices and Associated Product Recalls to Harm Growth

Despite the increasing technological advancement in wound closure devices, there are also product recalls in the recent years that could harm the market sales. Owing to this, the USFDA has issued notice to all the healthcare providers regarding the safety issues with the use of implantable and internal use of surgical stapling devices. In October 2019, a range of ECHELON FLEX ENDOPATH Staplers developed by Ethicon (Johnson and Johnson Services, Inc.), was recalled from the market owing to misfiring and malfunction of the device. The recall was identified as Class 1, the most severe form of a recall by the USFDA.

SEGMENTATION

By Product Type Analysis

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Sutures Segment Dominated the Global Wound Closure Market in 2018

Based on type, this market is segmented into sutures, hemostatic agents, staplers, staples, and other wound closure devices.  The sutures segment is further bifurcated into absorbable and non-absorbable. The hemostatic agents segment is grouped into active hemostats, passive hemostats, combination hemostats, and others. The staplers segment is bifurcated into powered and manual. The sutures segment captured the largest market share in 2018 and is estimated to retain its position during the forecast period. Sutures are the conventional type of wound closure devices. However, the latest advancements in the absorbable material of the device type are projected to drive its adoption. The hemostatic agents segment is also projected to exhibit a surge in acceptance owing to the ease of use of the device combined with lower post-operative maintenance.

The staplers segment is projected to register a significant CAGR during the forecast period. The introduction of new devices by key market players and shift of patient preference towards stapling devices are the factors projected to influence this market trend and drive the wound closure market value during the forecast period.

By Application Analysis

Increasing Number of General Surgeries will Boost the Growth of this Segment

In terms of application, the market is segmented into gynaecology, cardiology, orthopedics, ophthalmic, general surgery, and others. Wound closure devices are widely used in different surgical procedures. However, the general surgeries segment dominated the market in 2018.  This is attributed to the increasing number of general surgeries taking place globally. The segment is estimated to retain its position by the end of the forecast period.

Gynecology and orthopedic surgeries are among the other major application areas for wound closure devices. The growing aging population, prevalence of gynecology conditions requiring surgeries, along with the introduction of minimally invasive stapling devices in the market, is expected to drive the growth of the segment during the forecast period.

By End User Analysis

Higher Acceptance of Wound Closure Devices by Hospitals and Ambulatory Surgical Centers to Enable Dominance of the Segment

The emphasis of regional and national government agencies on the treatment of patients in outpatient settings is further fueling the demand for wound closure devices in the global market. The hospital and ambulatory surgical center segment is projected to lose share in the wound closure market during the forecast period. According to the National Health Statistics Report (2017), around 53% of ambulatory surgeries were performed in hospitals in the U.S. and the rest was performed in ambulatory surgical centers.

The emergence of specialty clinics for neurology, cardiology, and other conditions in developed and emerging countries is attracting a large patient pool suffering from chronic and acute conditions. The growing number of specialty clinics, along with adequate reimbursement policies provided by these settings, is a major factor responsible for increasing the proportion of use of wound closure devices in the segment. 

REGIONAL ANALYSIS

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The market size in North America stood at USD 5.06 billion in 2018. North America dominated the global market. This is attributed to the high adoption and acceptance of technologically advanced wound closure devices in the region. Combined with this, the preference of key market players to launch innovative wound closure devices is estimated to positively affect the market growth in the region. The market in Europe and Asia-Pacific is projected to register a comparatively higher CAGR during the forecast period. The high number of surgeries performed in the countries of Asia-Pacific, such as Japan, China, and India, is estimated to surge the demand for wound closure devices in the region. Expected regulatory approvals for these minimally invasive stapling devices in Asia-Pacific and the presence of a large and underpenetrated market in the region together are projected to drive the market growth in Asia-Pacific during the forecast period. The market in Latin America and the Middle East & Africa is currently in the emerging stage. However, developing healthcare infrastructure and increasing disposable income in these regions are projected to fuel the demand during the foreseen years.

KEY INDUSTRY PLAYERS

Diverse Portfolio and Focus on Development of Innovative Wound Closure Devices are Key Strategies Adopted by Market Players

The major companies operating in the wound closure market are Johnson and Johnson Services, Inc., B. Braun, Medtronic, and others. Johnson and Johnson Services, Inc. held an estimated 80% of the market share in 2018. This is owed to a diverse product portfolio and emphasis on technologically advanced pipeline products under development. Other companies such as B Braun, Cryolife, and Stryker have a dominating position in the hemostatic agent segment in the market.

Emphasis on mergers, acquisitions, and partnerships are some of the key strategies adopted by companies operating in this market to garner significant share. These strategies are estimated to positively impact the market growth in the coming years.

LIST OF KEY COMPANIES PROFILED:

• Johnson and Johnson Service, Inc.


• Baxter


• Medtronic


• Cryolife


• Stryker


• 3M


• CP Medical


• Boston Scientific Corporation


• Smith & Nephew


• B. Braun Melsungen AG


• Other prominent players

KEY INDUSTRY DEVELOPMENTS:

• July 2021 – SUTUREGARD Medical, Inc., announced the release of the case report on the use of suture retention device to prevent Surgical Wound Dehiscence (SWD), in which the HEMIGARD ARS device was used to increase skin closure and to avoid dehiscence. As per the case report, the best way of treatment for SWD is prevention and the use of the HEMIGARD device as it is a less expensive device that can be used for skin closure techniques and improve patient results.


• March 2021 - KitoTech Medical, a medical device company, announced a micro menu Combo Pack to its consumer product line. It gives more options to consumers to treat wounds and to close smaller lacerations and severe cuts on the fingers, nose, ears, and around the mouth & eyes.


• March 2021 - KitoTech Medical, a medical device company, announced the launch of microMend FLEX+. It has the same design as other microMend products, but this product is more elastic and ultra-flexible. It is used to close Incisions related to skin stress and movement in orthopedics, obstetrics, and other specialties.

REPORT COVERAGE

An Infographic Representation of Wound Closure Market

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The wound closure market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years.

The report presents a comprehensive assessment of the global market by offering valuable insights, facts, industry-related information, and historical data. These include key insights such as number of surgeries performed (key surgeries) - by region, technological advancements in these devices, key mergers, acquisitions and partnerships, new product introductions/ approvals by major players, an overview of regulatory scenario - key countries among others

Report Scope & Segmentation