- In recent years, there has been a considerable growth in terms of the research and development activities to develop more efficient and reliable wound closure strips
- Non-invasive nature of these new systems are gaining huge popularity among the healthcare providers as they highly safe, reliable, and easy to use
ALBANY, New York, March 9, 2020 /PRNewswire/ -- Transparency Market Research has been keenly following the developments occurring across the global wound closure strips market in recent years. The company has published a research report that provides detailed information about the overall working dynamics of the global market. Moreover, the research report offers in-depth insights on the different growth factors, segments, geographical markets, and the overall state of the competitive landscape of the global wound closure strips market. According to the research report, the global market is growing at a CAGR of ~7% over the duration of the given period of forecast ranging from 2019 to 2027. Initially, the valuation of the global market was around US$250 Mn in the year 2018. With the mentioned rate of growth, the market valuation is projected to shoot up to US$446.3 Mn by the end of 2027.
Key Findings in the Research Report:
The global wound closure strips market is mainly segmented in terms of type, sterility, end user, and region.
In terms of type, the market is segmented into reinforced and flexible wound closure strips. In 2018, the market was mainly dominated by the flexible segment. The trend is projected to continue in the near future because of its ease of use, strong adhesion, conformability, and elasticity. Moreover, using flexible wound closure strips reduces the chances of skin shear and traction blisters.
Based on sterility, the global market is segmented into sterile and non-sterile wound closure strips. In recent years, the market has been mainly led by the segment of sterile strips and is further projected to have a considerable growth over the course of the forecast period. The demand for these strips is high because they help in reducing the risk of infection.
Based on the end-users, the global wound closure strips market is segmented into household, hospitals & clinics, and others. In 2018, hospitals clinics segment accounted for the majority of the revenue in the global market. A key reason behind this dominance is the widespread adoption and acceptance by clinicians, medical professionals, and surgeons because of their superior efficiency and reliable diagnosis.
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Wound Closure Strips Market by Type: Flexible and Reinforced; Sterility: Sterile and Non-sterile; and End User: Hospitals & Clinics, Household, and Others
Global Wound Closure Strips Market – Key Driving Factors
The biggest driving factor for the development of the global wound closure strips market is the increasing number of user base. As per the research findings of Healogics, published in 2019, in the US alone, there are 6.7 million people suffering from chronic wounds. This boils down to one is four families in the region has a family member living a chronic wound. Naturally, this presents a huge growth opportunity for the overall development of the global wound closure strips market.
Another important factor for the development of the market is the increasing number of surgeries across the globe. Surgeons and medical professionals use these wound closure strips to sew up the wound. Moreover, the sterile properties of these strips help in avoiding the risk of infection. Naturally, such wound closure strips have a high demand across the globe. This is too is projected to growth of the global market.
On the production front, the leading companies in the global wound closure strips market are putting in huge resources for the research and development activities so as to create novel, efficient and more reliable strips.
Global Wound Closure Strips Market – Key Restraining Factors
One big drawback of these wound closure strips is they tend to function less effectively for irregular wounds or the ones with considerable tension. Moreover, they are also less effective on concave wound surfaces or the sin the areas with marked tissue slackness.
In some cases these strips do not offer necessary apposition to wound edges which makes it difficult for overall management of the injury.
Such cases might lead to slow down of the market in coming years.
Global Wound Closure Strips Market – Geographical Landscape
In terms of geographical segments, North America has been the dominant region in recent years. The growth of the market is primarily attributed to the presence of several notable players, rise in the R&D activities, and availability of high quality of healthcare infrastructure.
The regional segment is projected to continue its domination in coming years of the forecast period.
On the other hand, Asia Pacific is expected to emerge as a fastest developing regional segment for the global wound closure strips market. WHO predicts that by 2020, in certain parts of Asia, injuries by road accident would be the third biggest threat to overall public health.Such scenarios are paving the way for future growth of the wound closure strips market in Asia Pacific.
Analyze Wound Closure Strips market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
Global Wound Closure Strips Market – Notable Market Players
Some of the prominent brands operating in the global wound closure strips market are 3M, McKesson Medical-Surgical Inc. (McKesson Corporation), Cardinal Health, BSN medical (Essity Aktiebolag (publ.)), DermaRite Industries, LLC., Dynarex Corporation, DUKAL, Zipline Medical (Stryker), priMED Medical Products, Inc., and Smith & Nephew plc.
Global Wound Closure Strips Market: Segmentation
Wound Closure Strips Market, by Type
Wound Closure Strips Market, by Sterility
Wound Closure Strips Market, by End User
Hospitals & Clinics
Wound Closure Strips Market, by Region
Rest of Europe
Australia & New Zealand
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:
Skin Closure Systems Market - Growing rates of incidence of chronic wounds, rising preference by surgeons for improving patients' quality of life, strong emergence of local companies offering skin closure systems at relatively low average selling prices (thereby resulting in reduction in exports and expansion of the domestic market for skin closure systems), and increasing focus by manufacturers on the development of innovative products to reduce the cost burden of post-operative care are some of the factors projected to drive the global skin closure systems market during the forecast period.
Surgical Site Infection (SSI) Market - A surgical site infection is an infection that happens post-surgery at the area where surgery was done. It can sometimes be extremely superficial involving the skin only. However, some other times it can be more serious and can involve skin along with tissues, organs, or even implanted materials. The global surgical site infection (SSI) market tends to experience remarkable growth in the coming years.
Advanced Wound Care Management Market - Maintenance of stable temperature around the wound, protection from infection, removal of dead tissues, assistance in oxygenation, and relieve in pain are major focus areas of advanced wound care products. The global advanced wound care management market was valued at US$ 8,531.0 Mn in 2017 and is anticipated to expand at a CAGR of 5.8 % from 2018 to 2026.
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