Global Wound Closure Strips Market Is Expected To Grow At A CAGR Of 7.3% From 2019 To 2027

World Health Organization (WHO), has recommended physicians to cover acute and chronic wounds as open tissue injuries are susceptible to bacterial injuries. Looming threat of surgical site infection and superbug infection in hospitals increase the demand for wound closure strips throughout the globe. Zipline wound closure strips and micro anchors wound closure strips are gaining prominence among surgeons worldwide. Strategic collaboration between pharmaceutical companies to increase their product portfolio for wound closure devices. The major hurdle faced by this market is by the stiff competition imposed by the demand for surgical staples and sutures for acute and chronic wounds.

Elastic wound closure strips are spearheading the types segment. The chief factors responsible for its market growth are its flexibility to stretch according to different body movement without compromising on the comfort level. It is the most ideal wound closure strip for contoured body surface which is susceptible to swelling and edema. The reinforced wound closure strips find a huge application for covering wounds obtained due to deep lacerations and surgical incisions.

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Hospitals & clinics are holding the largest market share for the end-user segment in the wound closure strips market. Significant rise in the number of surgeries performed and constant rise in the inpatient admission to a medical emergency and surgery centers due to fatal accidents drive the market growth for the hospital & clinics. Household demand for wound closure strips are gaining tremendous traction on account of the injuries caused due to laceration and cuts obtained while performing daily household chores. The ease and convenience in the application of wound closure strips further bolster its demand for the protection of wounds associated with household injuries.

North America held the largest market in 2018, in the geography segment for the wound closure strips market. The major contributing factors pertaining to its market growth are a significant rise in the number of surgeries performed and the looming threat associated with surgical site infection. The market growth of Europe is dependent on parameters such as the presence of key players such as 3M Company, Cardinal Health, Inc., Smith & Nephew, Plc. etc. The proactive role adopted by the European Medical Agency (EMA) for the early clearance of wound closure devices further accentuates the market growth in the European Union region. Asia Pacific will be showcasing affirmative growth during the forecast period owing to the significant rise in fatal accidents associated with road and highway vehicle collision and occupational hazards.

Pharmaceutical companies engaged in the manufacturing of wound closure strips are Cardinal Health, Inc., DeRoyal Industries, Inc., DermaRite Industries, LLC., Dynarex Corporation, 3M Company, Hill-Rom Holdings, Inc., Medline Industries, Inc., McKesson Corporation, Integra LifeSciences Holdings Corporation, and Smith & Nephew, Plc.

Market Key Takeaways:

• Significant rise in the number of surgical procedures performed and surgical site infection worldwide
• Strategic collaboration between pharmaceutical companies to increase their product portfolio pertaining to wound closure devices
• Rising prevalence of fatal accidents related to roadside vehicle collision and occupational hazards