Wound Closure Strips Market

The global wound closure strips market was valued at USD 235.2 Mn in 2018. Rising prevalence of fatal accidents related to occupation hazard and vehicle collision and a significant rise in the number of patients suffering from pressure ulcers will together drive the wound closure strips market. The limitation associated with the wound closure strips market is the stringent competition created by surgical staples and sutures.

World Health Organization (WHO) has provided with the latest statistics that it is anticipated that by 2020 fatal road accidents will be representing the 3rd largest indicator for deaths worldwide. It has further quoted that a significant rise in the number of surgeries performed and increasing incidence of surgical site infections will be responsible for the increase in the mortality rate. The looming threat of hospital-acquired infection especially in the emergency and traumatic surgery centers has resulted in the burgeoning requirement of wound closure strips to protect the acute and chronic wounds from exposure to the superbug infection. The highly fragmented market has resulted in strategic collaboration between key players to expand their product portfolio pertaining to wound closure devices. The limitation associated with the wound closure strips market is the stringent competition created by surgical staples and sutures.

The major segments related to the wound closure strips market are:

By Type (2017–2027; US$ Mn)

Reinforced Wound Closure Strips

Elastic Wound Closure Strips

Other Wound Closure Strips

By End User (2017–2027; US$ Mn)

Hospitals & Clinics

Household

Others

Geography Segment (2017–2027; US$ Mn)

North America

United States
Canada

Europe

United Kingdom
Germany
Rest of Europe

Asia Pacific (APAC)

China
Japan
Rest of APAC

Latin America (LATAM)

Brazil
Mexico

Rest of Latin America

Middle East and Africa (MEA)
GCC
Rest of Middle East and Africa
 

Justification for study?

• The intention of the study is to give a comprehensive outlook of the global wound closure strips market
• The overall segmentation of the wound closure strips market, by type, end-user and geography is minutely studied. Elastic wound closure strips and hospitals and clinics are dominating the type and end-user segments respectively
• Rising prevalence of surgical site infection and constant rise in fatal and life-threatening accidents pertaining to deep tissue cut worldwide will consolidate the market growth
• Strategic merger and acquisitions and burgeoning research and development for micro anchor skin closures will provide positive direction to market growth for wound closure strips market

Report gist?

• The study of the global wound closure strips market includes qualitative analysis of factors such as drivers, restraints, and opportunities
• The report covers qualitative and quantitative analysis of the overall market segmented on the basis of type and end-user and categorization of the same at geography level
• This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. CAGR for each respective segments are calculated for the forecast period from 2019 to 2027
• The study includes the profiles of major market players with a significant global and regional presence along with top company positioning

Significant customers?

• This study is suitable for industry participants and stakeholders in the governmental healthcare agencies engaged in providing traumatic and surgical care which is gaining huge demand owing to the rise in fatal accidents throughout the globe
• The report will benefit administrative heads of hospitals and clinics that are engaged in providing emergency medical services
• Managers with financial institutions looking to publish recent and forecasted statistics pertaining to wound closure strips market
• Financial institutions venture capitalist, analysts, investors, government organizations, policymakers, regulatory authorities, researchers, looking for insights into the market to determine future strategies

Segment Analysis

Elastic wound closure strips are dominating the wound closure strips type segment. The major attributes associated with its popularity among surgeons worldwide are its flexibility which ensures comfort and stretches according to different body movements. It is the most ideal wound closure strip for countered body surface which is prone to swelling and edema. The reinforced wound closure strips are suitable for closing the deep tissue lacerations and surgical incisions.

Hospitals & clinics are the leading end-user segment on account of a significant rise in the number of surgical performed pertaining to acute and chronic wounds. The growing incidence of road and highway accidents has resulted in a significant increase in inpatient admission to emergency and traumatic surgery centers. Household demand for wound closure strips is anticipated to increase owing to the ease and convenience of the application of the strips to minor cuts and laceration occurring due to daily household chores.

Regional Analysis

As per the research citings brought forward by the Center for Disease Control and Prevention (CDC) in 2019, approximately 6.7 million U.S. citizens were reported to be suffering from chronic wound infection thereby resulting in a healthcare cost burden of 25 billion dollars per year. North America is the largest regional market owing to the rising prevalence of surgical site infections and the presence of key players such as 3M Company, Cardinal Health, Inc., Medline Industries, Inc., McKesson Corporation, etc. In Europe the chief driving factors associated with the wound closure strips market are the proactive role adopted by the European Medical Agency (EMA) for expediting the clearance procedure related to wound closure devices. A significant rise in fatal road and highway accidents further bolster the market growth in the European Union region. It is anticipated that the Asia Pacific will register rapid growth during the forecast period on account of the looming threat of hospital-acquired infection in emergency and traumatic surgery centers and exponential rise in the fatal accidents related to occupation hazards.