Global Wound Closure Products Market to Expand at 6.3% CAGR due to High Incidence of Lifestyle Diseases

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Some injuries get healed naturally, but there are injuries that become rather difficult to treat, such as pressure ulcers and diabetic foot ulcers. Wound closure products are used in order to treat such problems. These products are used to prevent infections and speed up the healing process. The global wound closure products market is mainly driven by technological advancements and the rising incidence of lifestyle diseases such as cardiovascular problems and diabetes.

Browse the full Global Wound Closure Products Market Report : http://www.mrrse.com/wound-closure-products-market
 
However, it is the scarcity of skilled physicians that negatively affects the growth of this market. Also, the steep costs of glues and sealants is a key factor affecting the demand for wound closure products in middle and low income countries. Ongoing trends indicate that the global wound closure products market will expand at a CAGR of 6.3% from 2014 to 2020, thereby reaching US$15222.7 million by 2023 from US$8750.5 million in 2014.

Demand for Tissue Sealants to Drive the Global Wound Closure Products Market
 
Geographically, the global wound closure products market is segmented into Asia Pacific, North America, Latin America, Europe, and Rest of the World. With a share of almost 40%, the global wound closure products market was led by North America. Europe held the second highest share after North America. The wound closure products market in these regions is mainly driven by frequent introduction of newer medical devices. With high incidence of diabetes in China and India, the Asia Pacific market is projected to expand robustly in the forthcoming years. It is anticipated that in the forthcoming years, the global wound closure products market will be propelled by several market growth opportunities in the emerging economies.

Product-wise, the global wound closure products market is broadly categorized into wound closure strips, hemostats, surgical staples, adhesive and tissue sealants, and sutures. The segment for adhesives and tissue sealants is driven by the reluctance towards using sutures, since these increase the risk of infection and also leave scars. Widespread use of tissue sealants in dental and bariatric surgeries fuels the global wound closure products market.

Patient Outcomes: A Key Area of Focus
 
The prominent companies operating in the global wound closure products market are Smith and Nephew plc, Medline Industries Inc., Kinetic Concepts Inc., Ethicon Inc., Derma Sciences Inc., Covidien plc, Biomet Inc., Braun Melsungen AG, 3M Health Care, and ArthroCare Corporation amongst others.

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In June 2015, there was a merger between Biomet Inc. and Zimmer Holdings Inc., and the company formed after the merger is called Zimmer Biomet. Zimmer Biomet has plans of investing hugely in medical education and training and R&D in order to develop musculoskeletal services and products that will improve patient outcomes in the long run. Also, with an aim towards expanding the portfolio, the company will be increasing its sales force across various regions in the forthcoming months.

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