Next Generation Wound Closure Device Market Forecast and CAGR
According to latest research study by Fact.MR, next generation wound closure device market is set to witness numerous opportunities during forecast period. These devices are highly been utilized in surgical procedure to prevent the formation of skin gaps and bacterial infection. Rising demand from healthcare sector is predicted to give numerous opportunities to the product development in upcoming years and shall witness absolute $ opportunity of US$ 250 Mn.
What is Driving Demand for Next Generation Wound Closure Device?
Rising demand for next generation wound closure device including flexible wound closure strips, elastic skin closures, topical skin adhesives, antimicrobial skin closures and reinforced skin closures in healthcare sector is likely to create numerous opportunities for manufacturers.
Advantage of these devices such as high efficiency in providing safety, reducing recovery time and precision are the key factors which lead to generate sufficient demand from the consumers end.
Increasing incidences of the accidents and sports injuries is witnessing considerable demand for wound closure devices and anticipated to follow the same trend during the forecast period.
Apart from reducing the risk of infection, the transparent design of these devices allows improved visibility and control, which is also a considerable fact which accounts for significant sale and give a positive impact to the production.
In addition, utilization of such advanced devices in minimally invasive surgery, lacerations, noninvasive surgical skin, surgical incisions, and cosmetic surgery is anticipated to be give a positive impact to the sales.
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Healthcare Sector is Likely to Augment Next Generation Wound Closure Device Sales
Healthcare sector holds the highest market share of next generation wound closure device .The demand for wound closure devise has witnessed noteworthy sale due to incidences of the accidents and sports injuries for past few years. Additionally, the advantages of fastest recovery rate, preventing bacterial infection and safety are the key reasons which attracts the end users across the globe.
Government spending are rising for expending the healthcare infrastructure. The number of hospitals and clinics are predicted to increase during the forecast period, this will lead to surge the consumption of these devices.
North America Market Outlook
North America holds the major share of the wound closure devices business. Especially, US is one of the largest markets for wound closure device in the globe. Trend of painless treatment among consumers has observed noteworthy demand in this region and is most likely to lead the production in near future. The US market is set to tread on the historic pattern during the assessment period 2021-2031.
Demand for wound closure device in US and Canada will be led by healthcare sector. The rising government spending for healthcare infrastructure development is anticipated to create appropriate sales growth during the assessment period.
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Asia Pacific Demand Outlook
Asia Pacific holds considerable market share of the market globally. The rising government investment to improve healthcare infrastructure and quick industrialization & urbanization in countries like India and China is predicted to give convenient market growth rate in terms of value and volume.
Many countries in Asia Pacific region have been severely impacted by the COVID-19 crisis, which has led to a decline in sports activities. Due to this fact the demand for sports injurie’s treatment remain muted in Q1 & Q2 of 2020. Government support and renovated healthcare systems will contribute the growth of next generation wound closure market during forecast period in this region.
Who are the Key Manufacturers of Next Generation Wound Closure Device?
Some of the leading manufacturers of next generation wound closure device include
- 3M Healthcare
- B Braun Melsungen AG
- Dukal Corporation
- Integra Lifesciences Corp.
- Medtronic PLC
- Teleflex medical incorporated
- Abbott Vascular
- Ethicon US LLC
- BSN Medical
- DermaRite Industries LLC
- Derma Sciences Inc.
- Smith & Nephew
- NeatStitch Ltd.
- Baxter International
- ZipLine Medical
- Wound care technologies Inc.
In February 2019, Teleflex Incorporated received an FDA approval for a device called ‘MANTA™ Device’, envisioned to seal femoral punctures post-medical procedures of vascular access and to advance the rate of wound healing.
In December 2018, Smith & Nephew introduced its first single use negative pressure wound therapy system (sNPWT) with AIRLOCK Technology - PICO 7Y. The novel product consists of multisite dressings and extended soft port, which is intended to track complex anatomies with groundbreaking integrated Y extension, the sNPWT permits multiple wounds to be addressed at the same time.
An Adaptive Approach to Modern-day Research Needs
Next Generation Wound Closure Device Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
By Product Type
- Regular Sutures
- Mechanical sutures (Staplers)
- Topical Adhesives
- Non-Invasive wound closure devices
By End User
- Ambulatory surgery centers
- North America
- US & Canada
- Latin America
- Rest of Latin America
- Rest of Europe
- East Asia
- South Korea
- South Asia
- Rest of South Asia
- New Zealand
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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