Wound Closure Products Market - Global Industry Analysis, Size, Growth and Future Scope

The wound closure products market is growing due to increasing geriatric population, increase in volume of surgeries and growing road accident cases across the globe.

Among the different type of wound closure products, the hemostats segment is expected to witness the fastest growth during the forecast period. Among the various applications, the cardiovascular segment accounted for the largest share in the global market in 2015, and it is expected to witness 6.9% CAGR during 2016 – 2022.

In 2015, North America held the largest share in the global wound closure market whereas, Asia-Pacific market is expected to witness fastest growth, with a CAGR of 7.0% during the period 2016– 2022.

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Wound closure products are designed to join the exposed edges of a wound together, which helps in faster healing of wound. The main purpose of using these products is to prevent blood loss, reduce recovery time and prevention from infectious agents. The various types of wound closure products include sutures, hemostats, surgical staples, adhesive and tissue sealants, and wound closure strips. They are commonly used for the treatment of injuries, lacerations, during and after surgical procedures, and to treat wounds, burn cases and ulcers in humans.

Absorbable wound closure products are assimilated by the body and non-absorbable wound closure products are removed after utilization. Absorbable wound closure products also reduce the scaring of tissue produced during the healing process. Various synthetic materials, such as nylon, prolene, medical grade steel, polyester, chromium and titanium alloys are used for their manufacturing. In addition, biomaterial, such as fibrin, collagen, gelatin and thrombin are also used for manufacturing of wound closure products.

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Some of the key companies operating in the global wound closure products market include 3M Company, Medtronic plc, Smith and Nephew plc, CryoLife Inc., DeRoyal Industries Inc., Pfizer Inc., Derma Sciences Inc., Johnson and Johnson, B. Braun Melsungen AG and Baxter International Inc.