Wound Closure Devices Market and its Growth Prospect in the Near Future
The growing need for reducing surgical expenditure has led to increasing demand for products that are able to improve the therapeutic outcome, and decrease the hospital stay tenure, which is majorly responsible for driving the growth of the global wound closure device market. On the basis of type, the global wound closure device market is segmented into mechanical stapling device, ligating clips, wound closure strips and others.
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The mechanical stapling device segment would witness strong growth in the coming years, due to the increased efficiency, such as precision, safety, and reduced recovery time. The growing occurrence of chronic wound has increased the demand for efficient and cost effective wound healing products. Lifestyle diseases are majorly responsible for causing chronic wounds, such as diabetic foot ulcer, venous leg ulcer, and pressure ulcer. The risk involved with improper wound healing has promoted the demand for combination dressing, which is a modern way of wound dressing. By using the wound closing devices, the edge of wound tissues are pulled together for fast and effective healing.
The geographical divisions of the global wound closure devices market include North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America dominates the global market, owing to the presence of consumer base for knee replacement surgeries, spinal fusions, aesthetic surgeries, and hip replacement surgeries. In Asia-Pacific, the countries of the region are incapable of managing the huge inflow of patients in hospitals, which is increasing the demand for advanced wound closure devices, to facilitate faster wound closure and early discharge of existing patients.
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The factors influencing the growth of the Asia-Pacific wound closure device market include development of new diagnostic centre and hospitals, increasing healthcare expenditure, and continuously evolving healthcare infrastructure in developing countries, such as India, China and Japan.
The major companies operating in the global wound closure device market include BSN medical, Baxter International, Teleflex Medical, Abbott Vascular, NeatStitch Ltd., Derma Sciences, and Ethicon Inc. (Johnson & Johnson).
Source: P&S Intelligence
