Global Surgical Wound Closure Devices Market Outlook and Forecast Report 2021-2026: Market to Grow at a CAGR of 6% - Shifting End-Users Preference Toward Non-Invasive Wound Closure Devices

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Apr 28, 2021, 08:00 ET

DUBLIN, April 28, 2021 /PRNewswire/ -- The "Surgical Wound Closure Devices Market - Global Outlook and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

The global surgical wound closure devices market by revenue is expected to grow at a CAGR of approx. 6% during the period 2021-2026.

The wound closure devices market has been adversely affected since the breakout of the COVID-19 pandemic. Over 28 million planned surgeries across the world have been canceled due to the outbreak of the pandemic, which has significantly truncated the growth of wound closure devices.

Majority of hospitals worldwide either postponed or canceled their planned elective surgeries during the pandemic, which has severely affected the application of advanced wound closure devices. With developed countries such as the US, Germany, and the UK suspending elective, specialty, and other surgeries to avoid exposure to the potential infection environment and to prioritize the treatment of COVID-19, the revenue of the global market has nosedived.

Further, the utilization of surgical procedures with surgical wound closure devices declined in 2020 as the number of procedures decreased in the short term, hence, delaying new purchases of wound closure devices.

Global Surgical Wound Closure Devices Market Segmentation

The global surgical wound closure devices market research report includes a detailed segmentation by product, end-user, patient group, geography. In 2020, surgical sutures and needles accounted for over 41% of the global surgical wound closure devices market share. With the increase in surgeries conducted across the globe, the demand for sutures is increasing.

Despite the availability of substitutes such as staples, glues, and strips, the demand for suture materials is growing. The introduction of antimicrobial wound dressing is also likely to influence market growth. Surgical stapling devices are of crucial importance as they help to maintain hemostasis, prevent leakage, and preserve vascularization.

These devices are increasingly preferred as they heal wounds quickly, offer minimal tissue reaction, and involve low infection risk. While sutures and needles dominate the market, the application of adhesives and sealants is growing on account of high performance and reduced infection risks. Sealant and adhesives are expected to grow at a CAGR of over 7% during the period 20202026. Sealants or bio-adhesives are considered a promising substitute to sutures, staples. Their physical, biological properties and adhesive strength have encouraged several surgeons to employ them in clinical practices, thereby growing market opportunities.

Hospitals in developing and developed countries perform the majority of surgeries. Due to the rise in the geriatric population, the number of surgeries performed in hospitals is also growing. Most hospitals prefer the use of advanced wound closure devices to help patients recover quickly.

Surgical staplers and advanced absorbable sutures are witnessing high adoption in hospitals. Furthermore, antimicrobial sutures are also being widely used in hospitals to avoid post-operative complications surgeries and prevent surgical site infections (SSI) as these infections accounted for a high percentage of deaths. The outbreak of the COVID-19 pandemic has led to the postponement of elective surgeries in hospitals, especially in developed countries. Hence, the pandemic has a considerable effect on the global surgical wound closure devices market.

INSIGHTS BY VENDORS

The global market is subject to rapid changes and has been significantly affected by new product launches. Medtronic, Johnson & Johnson, 3M, and B. Braun Melsungen are major vendors in the industry. Currently, these companies together account for significant shares in the market.

However, they are facing stiff competition from local and regional players. Several tier II and tier III companies, including several Asian companies, are posing a threat to key players as they offer antimicrobial dressing material at competitive prices. Global players are focusing on developing innovative products and expanding their product portfolio to remain competitive in the market.

KEY QUESTIONS ANSWERED

1. What is the market size of the surgical wound closure devices market during the period 2020-2026?
2. What impact the COVID-19 pandemic has on the growth of the surgical wound closure devices market?
3. Which region is likely to account for the largest share in the wound closure devices market by 2026?
4. What are the key growth strategies adopted by vendors in the surgical wound closure devices market?
5. Who are the key players in the surgical wound closure devices industry?

Prominent Vendors

3M
Medtronic
B. Braun Melsungen
Johnson & Johnson

Other Prominent Vendors

Adhesys Medical
Baxter
BD
BSN Medical
Cardinal Health
Changzhou Haida Medical Equipment
Cohera Medical
CONMED
CryoLife
DermaRite
Farmaceutica International
Frankenman International
Grena
GPC Medical
Intuitive Surgical
Integra LifeSciences
HARTMANN
Meril Life Sciences
Medline
Ocular Therapeutix
ORION SUTURES
Peters Surgical
Purple Surgical
Reach Surgical
Sealantis
Smith+Nephew
Stryker
Teleflex
Waston Medical Appliance
Welfare Medical

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.2 Base Year
4.3 Scope of The Study
4.4 Market Segments
4.4.1 Market Segmentation by Product
4.4.2 Market Segmentation by Patient Group
4.4.3 Market Segmentation by End-User
4.4.4 Market Segmentation by Geography

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market at a Glance

7 Introduction
7.1 Overview

8 Market Opportunities & Trends
8.1 Shifting End-Users Preference Toward The Usage Of Non-Invasive Wound Closure Devices
8.2 Introduction of Next Generation Surgical Wound Closure Devices
8.3 Increased Product Launches

9 Market Growth Enablers
9.1 Increase In The Number Of Non-Essential Surgeries
9.2 Favorable Patient Demographics & Increased Focus On Surgical Intervention
9.3 Growing Popularity of Natural Surgical Sealants

10 Market Restraints
10.1 Impact of Covid-19 On Surgical Wound Closure Devices
10.2 Complications Associated with Surgical Wound Closure Devices
10.3 Safety Concerns Coupled with Product Recalls

11 Market Landscape
11.1 Market Overview
11.1.1 COVID-19 Impact on Global Surgical Wound Closure Devices Market
11.2 Market Size & Forecast
11.3 Five Forces Analysis

12 Product
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Surgical Sutures & Needles
12.3.1 Market Overview
12.3.2 Market Size & Forecast
12.3.3 Absorbable Sutures
12.3.4 Non-absorbable Sutures
12.3.5 Surgical Sutures & Needles: Geography Segmentation
12.4 Surgical Stapling Devices
12.4.1 Market Overview
12.4.2 Market Size & Forecast
12.4.3 Powered Surgical Stapling
12.4.4 Manual Surgical Stapling
12.4.5 Surgical Stapling Devices: Geography Segmentation
12.5 Surgical Sealants & Adhesives
12.5.1 Market Overview
12.5.2 Synthetic Adhesives
12.5.3 Market Size & Forecast
12.5.4 Surgical Sealants & Adhesives: Geography Segmentation
12.6 Surgical Wound Closure Strips
12.6.1 Market Overview
12.6.2 Market Size & Forecast
12.6.3 Surgical Wound Closure Strips: Geography Segmentation

13 Patient Group
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Adults
13.3.1 Market Overview
13.3.2 Market Size & Forecast
13.3.3 Adults: Geography Segmentation
13.4 Pediatrics

14 End-User
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Hospitals
14.3.1 Market Overview
14.3.2 Market Size & Forecast
14.3.3 Hospitals: Geography Segmentation
14.4 Specialty Medical Facilities
14.4.1 Market Overview
14.4.2 Market Size & Forecast
14.4.3 Specialty Medical Facilities: Geography Segmentation
14.5 Other End-Users
14.5.1 Market Overview
14.5.2 Market Size & Forecast
14.5.3 Other End-users: Geography Segmentation

For more information about this report visit https://www.researchandmarkets.com/r/5epzd2

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