The global “Wound Closure Market Trend” is set to gain impetus from the ever-increasing inclination of people from traditional suturing techniques to innovative devices, namely, hemostatic agents, clips, and staplers. It is mainly occurring in countries such as India, China, Japan, Germany, and the U.S. Fortune Business Insights™ provided this information in a recent report, 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 wound closure market size was 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.
Highlights of the Report:
- In-depth analysis of various insights, namely, Wound Closure Market trends, growth drivers, opportunities, and other related challenges.
- Comprehensive details of key market players, their core competencies, and Wound Closure Market share.
- The potency of suppliers and buyers to make better business decisions.
- Lists out the market size in terms of volume.
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Key Players Operating in The Wound Closure Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
Fortune Business Insights™ lists out all the companies that are presently operating in the wound closure market. They are as follows:
- Johnson and Johnson Service, Inc.
- Smith & Nephew
- Braun Melsungen AG
- CP Medical
- Boston Scientific Corporation
- Other prominent players
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.
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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.
In Asia Pacific and Europe, on the other hand, are anticipated to showcase a comparatively higher CAGR in the near future owing to the rising number of surgeries, which, in turn, is set to upsurge the demand for such devices. Apart from that, the presence of a large, untapped market in Asia Pacific, coupled with the upcoming regulatory approvals for minimally invasive devices would drive growth. In the Middle East & Africa, the market is set to grow gradually stoked by the slow development of healthcare infrastructure.
Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Number of Surgeries Performed (Key Surgeries) – by Region
- Technological Advancements in Wound Closure Devices
- Key Industry Developments – Mergers, Acquisitions and Partnerships
- New Product Introductions/ Approvals by Major Players
- Overview of Regulatory Scenario, Key Countries
- Global Wound Closure Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Hemostatic Agents
- Active Hemostats
- Passive Hemostats
- Combination Hemostats
- Market Analysis, Insights and Forecast – By Application
- General Surgery
- Market Analysis, Insights and Forecast – End User
- Hospitals and Ambulatory Surgical Centers
- Specialty Clinics
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential Wound Closure Market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
Reasons to Purchase this Report:
- Comprehensive analysis of the Wound Closure Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
KEY QUESTIONS ANSWERED:
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the Wound Closure Market growth?
- What are the key technological and market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
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