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How is Increasing Number of Surgeries Driving Wound Closure Products Market?
Valued at $9,517.1 million in 2015, the global wound closure products market is projected to demonstrate a CAGR of 6.3% during the forecast period (2016–2022).
By: P&S Intelligence
The largest demand in the past was created for sutures, including both non-absorbable and absorbable, because of the rising incidence of chronic wounds and increasing volume of surgeries across the world. Chronic wounds, such as pressure ulcers, venous stasis ulcers, diabetic ulcers, post-surgical wounds, and traumatic ulcers, do not get healed in a timely manner as acute wounds and thus require specialized care, because of which wound closure products are needed for these wounds. Other than this, the demand for hemostats, such as collagen-based, thrombin-based, gelatin-based, oxidized regenerated cellulose-based, and combination, is also expected to rise significantly in the near future. This can be ascribed to the better healing properties of these products.
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Geographically, North America has been the largest user of wound closure products in the past, which can be attributed to the surging number of burn cases in the region. Burn injuries more often than not need surgical intervention, which further results in the utilization of wound closure products. Incisions made during surgical procedure lead to the formation of wound, which is then closed by making use of sutures or other kinds of wound closure products. Other than this, Asia-Pacific is projected to emerge as the fastest-growing wound closure products market in the near future, owing to the growing geriatric population, surging number of burn cases, and rising incident of road accidents in the region.