A research study titled, Wound Closure Market by Product and
Application - Global Industry Analysis and Forecast to 2025” published by
Crystal Market Research, states that the wound closure market is projected to
be around $15 billion by 2025.
Chronic wounds are hard-to-heal wounds that proceed through
the repair process without exhibiting a sustained and functional result.
Complications of chronic wounds include different infections such as infective
venous eczema, cellulitis, gangrene, lower-extremity amputations, and
hemorrhage. Chronic wounds significantly impact the health and the quality of
life of the patients and their families due to the low base rate of complete
healing. They can lead to pain, loss of mobility and function, distress and
anxiety, depression, social isolation and embarrassment, prolonged hospital
stays leading to financial burden and even death. According to California
Podiatric Medical Association (CPMA), 15% of people diagnosed with diabetes
tend to develop a foot ulcer and 14 to 24% patients affected by foot ulcers
will require amputation during their lifetime. Pressure ulcers and diabetic
foot ulcers are long-lasting wounds instigated by elevated pressure and reduced
angiogenic response i.e., less formation of new blood cells. Diabetic foot
ulcers are categorized by redness, unusual swelling and odor from feet that are
a few early symptoms.
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A few of the key factors propelling the growth of wound
closure market are the increase in demand for less invasive procedures,
predominance of chronic diseases across the world, and enhanced technology in
wound care products. As per NCBI, pressure ulcers happen in 30 to 85% of
patients suffering from spinal cord injuries, within the first month of injury.
Development of cost effective products directed towards particular wounds will
lead this market further. Therefore, cost efficiency and enhanced technology
coupled with odor and pain control are a few prime factors which will rule the
evolution of wound closure market in the coming years.
Moreover, increasing aging population vulnerable to chronic
diseases such as diabetes leading to the heightened risk of chronic wounds will
further contribute to the market growth. The global share of older people
increased from 9.2% in 1990 to 11.7% in 2013 and will reach 21.1% by 2050
(Source: United Nations Department of Economic and Social Affairs). Further, it
states that the number of older people is projected to reach 2 billion in 2050
from 841 million people in 2013. However, high cost of wound closure products
and technical assistance for using these products will hamper the market growth.
Increased focus of key players on the development of
innovative wound closure products to meet the unmet medical needs will further
propel the market growth. For instance, in March 2017, Izun Pharmaceuticals
Corporation obtained FDA approval for Curasite Wound Care Hydrogel for the
treatment of leg ulcers and diabetic foot ulcers. Major players operating in
this market are Smith &
Nephew PLC, B. Braun Melsungen AG, 3M Company, Baxter International Inc.,
DeRoyalIndustries, Inc., Johnson & Johnson Services, Inc., Medtronic plc,
CryoLife, Inc., Derma Sciences Inc. (acquired by Integra LifeSciences Holdings
Corporation) and BSN medical GmbH (acquired by SVENSKA CELLULOSA AKTIEBOLAGET
SCA (publ)).
Browse full research report with TOC on “Wound Closure
Market by Product and Application - Global Industry Analysis and Forecast to
2025” at:
Competitive Analysis
The major players operating in the
global wound closure market focus on developing advanced wound closure products
enabling effective and faster healing of wounds in a minimally invasive manner.
For instance, in March 2017, Ethicon and DePuySynthes jointly introduced
customized wound closure kits (including STRATAFIX Knotless Tissue Control
Devices and DERMABOND PRINEO Skin Closure System) to improve outcomes in
orthopedic surgery. Such product developments will enable the companies to
strengthen their product portfolio to sustain their position in the market.
Some of the key players in the global wound closure market are, Smith &
Nephew PLC, B. Braun Melsungen AG, 3M Company, Baxter International Inc.,
DeRoyal Industries, Inc., Johnson & Johnson Services, Inc., Medtronic plc,
CryoLife, Inc., Derma Sciences Inc. (acquired by Integra LifeSciences Holdings
Corporation) and BSN medical GmbH (acquired by SVENSKA CELLULOSA AKTIEBOLAGET
SCA (publ)).
About
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