Global Wound Closure Product Market By Product (Sutures, Hemostats, Surgical Staples And Adhesives & Tissue Sealants), By Application (Cardiovascular, General, Gynecological, Orthopedic, Ophthalmic Surgeries), Market Size, Share, Development, Growth And Demand Forecast, 2018- 2024.

10/08/2018
Report Code: BWC1814
Available Format: PDF PDF Icon
Pages: 152

Global Wound Closure Product Market: Outlook

Global Wound Closure Product market report provides analysis for the period 2013 – 2024, wherein the period from 2018 -2024 is the forecast period and 2017 as the base year. The market study projects an estimated market growth with a CAGR over 5.2% during 2018-2024 in terms of value. The aforementioned market growth is driven by a number of factors such as growth in aging population, increase in the number of surgeries and growing road accident cases. Moreover, increased burn cases across the globe and the growing incidence of chronic wounds is also impacting the demand for the market.

The report exhibits the analysis of the factors driving and restraining the market and their impact on the market forecast. The wound closure products are prevalent for the treatment of lacerations, injuries and to treat surgical and chronic wounds during and after surgical procedures. This creates demands for innovative and more effective or effortless products among the users within the market. Thus, the report gives a detailed description of the strategic developments carried out by the key players in the market to substantiate the revolution happening for the wound closure products.

Global Wound Closure Product Market: Scope of the Report

On the basis of the type of the product, the market is segmented into Sutures, Hemostats, Surgical Staples and Adhesives & Tissue Sealants. The Sutures market is further bifurcated into absorbable and non-absorbable sutures. The Hemostats market is further sub-segmented into Thrombin-based, Oxidized regenerated cellulose-based, Combination, Gelatin-based, Collagen-based hemostats. The Adhesives & Tissue Sealants is segmented into Fibrin, Collagen-based, Cyanoacrylate-based, Synthetic polymer-based, Album & glut aldehyde-based sealants. Based on the application of the products, the market is categorized into Cardiovascular, General, Gynecological, Orthopedic, Ophthalmic surgeries.  Finally, the report covers the analysis of these segments across North America, Europe, Asia-Pacific & RoW along with the qualitative analysis for market estimates that boosts the growth of the global wound closure product market during the forecast period.

The report also features the competitive benchmarking of key players, competitive analysis of the global wound closure product market that covers business overview, product & service offerings, new product launches, and mergers & acquisitions.

As per the findings of the research, the sutures segment was the largest contributor to the global wound closure products market in 2017, and the hemostats market is estimated to witness the fastest growth during 2018-2024.

Global Wound Closure Product Market: Key Findings of the Report

According to BlueWeave Consulting, the key findings of the report “Global Wound closure product Market Size, Share, Development, Growth and Demand Forecast to 2024” are:

·         North America led the global wound closure products market in 2017 and it is expected to grow with a CAGR over 6.6% during the anticipated period

·         U.S. held the largest in the North America market in 2017 and it is expected to grow with a CAGR 5.4% during the period 2018 – 2024

·         Based on type, sutures generated the largest revenue in the global wound closure products market in 2017 and it is expected to exhibit the fastest growth during the expected period

·         Cardiovascular surgeries segment was the largest application area of wound closure products in 2017 and it is expected to exhibit the fastest growth during the period 2018 – 2024

Global Wound Closure Product Market, Revenue Forecast, USD(Million),2013-2024

Wound Closure Product Market

Global Wound Closure Product Market: Research Methodology

Extensive secondary research was conducted using paid data sources including Bloomberg, Factiva, Capital IQ, OneSource, and Hoovers. Additionally, several publicly-available data sources were used including journals, statistics articles, and industry associations. These data sources were used to gather relevant information to develop an understanding on the global wound closure products market. The research was conducted covering the desk research and primary research. Data sources used for primary research included online forums and blogs, CATI/CAWI, CAPI interviews, and video conferences. Additionally, interviews were conducted through connecting with various industry respondents including C-level executives, directors, divisional heads, regional heads, expert consultants, and independent consultants. The primary research was conducted to gain market insights from industry respondents and validate the gathered information through desk research.

Global Wound Closure Product Market: Research Summary

The global wound closure products market is growing exponentially due to increased utilization of these products for the treatment of chronic wounds, surgical wounds, burns, and ulcers. The other wound closure products available in the market include sutures, hemostats, surgical staples, adhesive, tissue sealants, and wound closure strips. The usage of wound closure products is increasing due to growing geriatric population, incidences of diabetes and obesity and increase in volume of surgeries. Moreover, road accidents and burn cases also leading to abundance usage. However, presence of alternative options and high cost of wound closure products act as restraints in the growth of global wound closure products market.

Global Wound Closure Product Market: Competitive Dynamics

The global wound closure product market is dominated by a number of players in the market, amongst them the major players are 3M Company, Medtronic plc., Smith and Nephew plc., CryoLife Inc., Johnson & Johnson, B.Braun Melsungen AG, Baxter International Inc., Derma Sciences Inc., DeRoyal Industries Inc., Pfizer Inc.

1.    Research Scope and Methodology

1.1.  Market Definition

1.2.  Research Scope

1.2.1.    Global wound closure products market, by type

1.2.2.    Global wound closure product market, by application

1.2.3.    Global wound closure product market, by geography

1.3.  Research Methodology and Sources

2.    Executive Summary

2.1.  Key Findings

2.2.  Research Summary

3.    Market Outlook

3.1.  Introduction

3.2.  Factors Driving the Demand of the Market and its Impact on Market Forecast

3.2.1.    Growth in aging population

3.2.2.    Growth in the number of surgeries

3.2.3.    Growth in the number of road accidents

3.2.4.    Growing burn cases

3.2.5.    Growing incidence of chronic wounds

3.2.6.    Summary of the influence of drivers on market forecast

3.3.  Factors Restraining the Market to grow and its Influence on Market Forecast

3.3.1.    Expensive wound closure products

3.3.2.    Need for advanced technical skills for the usage of wound closure products

3.3.3.    Availability of substitutes of wound closure products

3.3.4.    Summary of the influence of restraints on market forecast

4.    Global Wound Closure Products Market Size and Forecast (2012-2024)

4.1.  Global Wound Closure Products Market, by Type

4.2.  Global Wound Closure Products Market, by Application

4.3.  Global Wound Closure Products Market, by Region

5.    Global Wound Closure Products Market, by various segments

5.1.  Sutures Market

5.1.1.    Global sutures market segmentation

5.1.1.1.        Absorbable sutures

5.1.1.2.        Non-absorbable sutures

5.1.2.    Global sutures market, by region

5.2.  Hemostats Market

5.2.1.    Global hemostats market, by type

5.2.1.1.        Thrombin-based hemostats

5.2.1.2.        Oxidized regenerated cellulose-based hemostats

5.2.1.3.        Combination hemostats

5.2.1.4.        Gelatin-based hemostats

5.2.1.5.        Collagen-based hemostats

5.2.2.    Global hemostats market, by region

5.3.  Surgical Staples Market

5.3.1.    Global surgical staples market, by region

5.4.  Adhesives and Tissue Sealants Market

5.4.1.    Global adhesives and tissue sealants market, by type

5.4.1.1.        Fibrin sealants

5.4.1.2.        Collagen-based sealants

5.4.1.3.        Cyanoacrylate-based sealants

5.4.1.4.        Synthetic polymer-based sealants

5.4.1.5.        Albumin & glutraldehyde-based sealants

5.4.2.    Global adhesives and tissue sealants market, by region

5.5.  Wound Closure Strips Market

5.5.1.    Global wound closure strips market, by region

6.    Global Wound Closure Products Market, by Application

6.1.  Wound Closure Products Market for Cardiovascular Surgeries

6.1.1.    Global wound closure products market for cardiovascular surgeries, by region

6.2.  Wound Closure Products Market for General Surgeries

6.2.1.    Global wound closure products market for general surgeries, by region

6.3.  Wound Closure Products Market for Gynecological Surgeries

6.3.1.    Global wound closure products market for gynecological surgeries, by region

6.4.  Wound Closure Products Market for Orthopedic Surgeries

6.4.1.    Global wound closure products market for orthopedic surgeries, by region

6.5.  Wound Closure Products Market for Ophthalmic Surgeries

6.5.1.    Global wound closure products market for ophthalmic surgeries, by region

7.    Global Wound Closure Products Market, by Geography

7.1.  North America Wound Closure Products Market

7.1.1.    North America wound closure products market, by type

7.1.2.    North America wound closure products market, by application

7.1.3.    North America wound closure products market, by country

7.2.  Europe Wound Closure Products Market

7.2.1.    Europe wound closure products market, by type

7.2.2.    Europe wound closure products market, by application

7.2.3.    Europe wound closure products market, by country

7.3.  Asia-Pacific Wound Closure Products Market

7.3.1.    Asia-Pacific wound closure products market, by type

7.3.2.    Asia-Pacific wound closure products market, by application

7.3.3.    Asia-Pacific wound closure products market, by country

7.4.  ROW Wound Closure Products Market

7.4.1.    ROW wound closure products market, by type

7.4.2.    ROW wound closure products market, by application

7.4.3.    ROW wound closure products market, by country

8.    Competitive Analysis

8.1.  Porter’s Five Forces of Competitive Position Analysis

8.1.1.    Bargaining power of buyers

8.1.2.    Bargaining power of suppliers

8.1.3.    Threat of new entrants

8.1.4.    Intensity of rivalry

8.1.5.    Threat of substitutes

8.2.  Competitive Benchmarking of Key Players in the Global Wound Closure Products Market

9.    Company Profiles and Strategic Developments

9.1.  Key Company Profiles

9.2.  3M Company

9.2.1.    Business overview

9.2.2.    Product and service offerings

9.3.  Medtronic plc

9.3.1.    Business overview

9.3.2.    Product and service offerings

9.4.  Smith & Nephew plc

9.4.1.    Business overview

9.4.2.    Product and service offerings

9.5.  CryoLife Inc.

9.5.1.    Business overview

9.5.2.    Product and service offerings

9.6.  Pfizer Inc.

9.6.1.    Business overview

9.6.2.    Product and service offerings

9.7.  Derma Sciences Inc.

9.7.1.    Business overview

9.7.2.    Product and service offerings

9.8.  Johnson & Johnson

9.8.1.    Business overview

9.8.2.    Product and service offerings

9.9.  B. Braun Melsungen AG

9.9.1.    Business overview

9.9.2.    Product and service offerings

9.10.Baxter International Inc.

9.10.1.   Business overview

9.10.2.   Product and service offerings

9.11.DeRoyal Industries Inc.

9.11.1.   Business overview

9.11.2.   Product and service offerings

9.12.Strategic Developments in the Wound Closure Products Market

9.12.1.   Merger & acquisition

9.12.2.   Product launch

10.  Appendix

10.1.List of Abbreviations

 

List of Tables

TABLE 1:               GLOBAL WOUND CLOSURE PRODUCTS MARKET SNAPSHOT

TABLE 2:               CLASSIFICATION OF BURNS BASED ON DEPTH

TABLE 3:               DRIVERS FOR THE MARKET: SUMMARY OF THE INFLUENCE

TABLE 4:               GLOBAL WOUND CLOSURE PRODUCTS MARKET, BY TYPE, $M (2013 – 2017)

TABLE 5:               GLOBAL WOUND CLOSURE PRODUCTS MARKET, BY TYPE, $M (2018 – 2024)

TABLE 6:               GLOBAL WOUND CLOSURE PRODUCTS MARKET, BY APPLICATION, $M (2013 – 2017)

TABLE 7:               GLOBAL WOUND CLOSURE PRODUCTS MARKET, BY APPLICATION, $M (2018 – 2024)

TABLE 8:               GLOBAL WOUND CLOSURE PRODUCTS MARKET, BY REGION, $M (2013 – 2017)

TABLE 9:               GLOBAL WOUND CLOSURE PRODUCTS MARKET, BY REGION, $M (2018 – 2024)

TABLE 10:             GLOBAL SUTURES MARKET, BY TYPE, $M (2013 – 2017)

TABLE 11:             GLOBAL SUTURES MARKET, BY TYPE, $M (2018 – 2024)

TABLE 12:             GLOBAL SUTURES MARKET, BY REGION, $M (2013 – 2017)

TABLE 13:             GLOBAL SUTURES MARKET, BY REGION, $M (2018 – 2024)

TABLE 14:             GLOBAL HEMOSTATS MARKET, BY TYPE, $M (2013 – 2017)

TABLE 15:             GLOBAL HEMOSTATS MARKET, BY TYPE, $M (2018 – 2024)

TABLE 16:             GLOBAL HEMOSTATS MARKET, BY REGION, $M (2013 – 2017)

TABLE 17:             GLOBAL HEMOSTATS MARKET, BY REGION, $M (2018 – 2024)

TABLE 18:             GLOBAL SURGICAL STAPLES MARKET, BY REGION, $M (2013 – 2017)

TABLE 19:             GLOBAL SURGICAL STAPLES MARKET, BY REGION, $M (2018 – 2024)

TABLE 20:             GLOBAL ADHESIVES AND TISSUE SEALANTS MARKET, BY TYPE, $M (2013 – 2017)

TABLE 21:             GLOBAL ADHESIVES AND TISSUE SEALANTS MARKET, BY TYPE, $M (2018– 2024)

TABLE 22:             GLOBAL ADHESIVES AND TISSUE SEALANTS MARKET, BY REGION, $M (2013 – 2017)

TABLE 23:             GLOBAL ADHESIVES AND TISSUE SEALANTS MARKET, BY REGION, $M (2018 – 2024)

TABLE 24:             GLOBAL WOUND CLOSURE STRIPS MARKET, BY REGION, $M (2013 – 2017)

TABLE 25:             GLOBAL WOUND CLOSURE STRIPS MARKET, BY REGION, $M (2018 – 2024)

TABLE 26:             GLOBAL WOUND CLOSURE PRODUCTS MARKET FOR CARDIOVASCULAR SURGERIES,BY REGION, $M (2013 – 2017)

TABLE 27:             GLOBAL WOUND CLOSURE PRODUCTS MARKET FOR CARDIOVASCULAR SURGERIES, BY REGION, $M (2018 – 2024)

TABLE 28:             GLOBAL WOUND CLOSURE PRODUCTS MARKET FOR GENERAL SURGERIES, BY REGION, $M (2013 – 2017)

TABLE 29:             GLOBAL WOUND CLOSURE PRODUCTS MARKET FOR GENERAL SURGERIES, BY REGION, $M (2018 – 2024)

TABLE 30:             GLOBAL WOUND CLOSURE PRODUCTS MARKET FOR GYNECOLOGICAL SURGERIES,BY REGION, $M (2013 – 2017)

TABLE 31:             GLOBAL WOUND CLOSURE PRODUCTS MARKET FOR GYNECOLOGICAL SURGERIES MARKET,BY  REGION, $M (2018 – 2024)

TABLE 32:             GLOBAL WOUND CLOSURE PRODUCTS MARKET FOR ORTHOPEDIC SURGERIES, BY REGION, $M (2013 – 2017)

TABLE 33:             GLOBAL WOUND CLOSURE PRODUCTS MARKET FOR ORTHOPEDIC SURGERIES, BYREGION, $M (2018 – 2024)

TABLE 34:             GLOBAL WOUND CLOSURE PRODUCTS MARKET FOR OPHTHALMIC SURGERIES, BYREGION, $M (2013 – 2017)

TABLE 35:             GLOBAL WOUND CLOSURE PRODUCTS MARKET FOR OPHTHALMIC SURGERIES MARKET, BY REGION, $M (2018 – 2024)

TABLE 36:             NORTH AMERICA WOUND CLOSURE PRODUCTS MARKET, BY TYPE, $M (2013 – 2017)

TABLE 37:             NORTH AMERICA WOUND CLOSURE PRODUCTS MARKET, BY TYPE, $M (2018 – 2024)

TABLE 38:             NORTH AMERICA WOUND CLOSURE PRODUCTS MARKET, BY APPLICATION, $M (2013 –2017)

TABLE 39:             NORTH AMERICA WOUND CLOSURE PRODUCTS MARKET, BY APPLICATION, $M (2018 – 2024)

TABLE 40:             NORTH AMERICA WOUND CLOSURE PRODUCTS MARKET, BY COUNTRY, $M (2013 – 2017)

TABLE 41:             NORTH AMERICA WOUND CLOSURE PRODUCTS MARKET, BY COUNTRY, $M (2018– 2024)

TABLE 42:             EUROPE WOUND CLOSURE PRODUCTS MARKET, BY TYPE, $M (2013 –2017)

TABLE 43:             EUROPE WOUND CLOSURE PRODUCTS MARKET, BY TYPE, $M (2018 – 2024)

TABLE 44:             EUROPE WOUND CLOSURE PRODUCTS MARKET, BY APPLICATION, $M (2013 – 2017)

TABLE 45:             EUROPE WOUND CLOSURE PRODUCTS MARKET, BY APPLICATION, $M (2018 – 2024)

TABLE 46:             EUROPE WOUND CLOSURE PRODUCTS MARKET, BY COUNTRY, $M (2013 –2017)

TABLE 47:             EUROPE WOUND CLOSURE PRODUCTS MARKET, BY COUNTRY, $M (2018 –2024)

TABLE 48:             ASIA-PACIFIC WOUND CLOSURE PRODUCTS MARKET, BY TYPE, $M (2013 –2017)

TABLE 49:             ASIA-PACIFIC WOUND CLOSURE PRODUCTS MARKET, BY TYPE, $M (2018 – 2024)

TABLE 50:             ASIA-PACIFIC WOUND CLOSURE PRODUCTS MARKET, BY APPLICATION, $M (2013 –2017)

TABLE 51:             ASIA-PACIFIC WOUND CLOSURE PRODUCTS MARKET, BY APPLICATION, $M (2018 – 2024)

TABLE 52:             ASIA-PACIFIC WOUND CLOSURE PRODUCTS MARKET, BY COUNTRY, $M (2013 –2017)

TABLE 53:             ASIA-PACIFIC WOUND CLOSURE PRODUCTS MARKET, BY COUNTRY, $M (2018 –2024)

TABLE 54:             ROW WOUND CLOSURE PRODUCTS MARKET, BY TYPE, $M (2013 – 2017)

TABLE 55:             ROW WOUND CLOSURE PRODUCTS MARKET, BY TYPE, $M (2018 – 2024)

TABLE 56:             ROW WOUND CLOSURE PRODUCTS MARKET, BY APPLICATION, $M (2013 – 2017)

TABLE 57:             ROW WOUND CLOSURE PRODUCTS MARKET, BY APPLICATION, $M (2018 – 2024)

TABLE 58:             ROW WOUND CLOSURE PRODUCTS MARKET, BY COUNTRY, $M (2013 – 2017)

TABLE 59:             ROW WOUND CLOSURE PRODUCTS MARKET, BY COUNTRY, $M (2016 –2024)

TABLE 60:             3M COMPANY – KEY FACTS

TABLE 61:             MEDTRONIC PLC – KEY FACTS

TABLE 62:             SMITH & NEPHEW PLC – KEY FACTS

TABLE 63:             CRYOLIFE INC. – KEY FACTS

TABLE 64:             PFIZER INC.– KEY FACTS

TABLE 65:             DERMA SCIENCES INC. – KEY FACTS

TABLE 66:             JOHNSON & JOHNSON – KEY FACTS

TABLE 67:             B. BRAUN MELSUNGEN AG– KEY FACTS

TABLE 68:             BAXTER INTERNATIONAL INC. – KEY FACTS

TABLE 69:             DEROYAL INDUSTRIES INC.– KEY FACTS

List of Figures

FIG 1:    AGING POPULATION AS A PERCENTAGE OF TOTAL POPULATION

FIG 2:    WORLDWIDE ROAD TRAFFIC DEATHS OF ROAD USER

FIG 3:    GLOBAL WOUND CLOSURE PRODUCTS MARKET, $M (2013 – 2024)

FIG 4:    TYPES OF SUTURES

FIG 5:    WORLDWIDE MAJOR MARKETS FOR WOUND CLOSURE PRODUCTS (2017 & 2024)

FIG 6:    NORTH AMERICA WOUND CLOSURE PRODUCTS MARKET, BY TYPE, $M (2013 – 2024)

FIG 7:    NORTH AMERICA WOUND CLOSURE PRODUCTS MARKET, BY APPLICATION, $M (2013 – 2024)

FIG 8:    NORTH AMERICA WOUND CLOSURE PRODUCTS MARKET, BY COUNTRY, $M (2013 – 2024)

FIG 9:    EUROPE WOUND CLOSURE PRODUCTS MARKET, BY TYPE, $M (2013 – 2024)

FIG 10:  EUROPE WOUND CLOSURE PRODUCTS MARKET, BY APPLICATION, $M (2013 – 2024)

FIG 11:  EUROPE WOUND CLOSURE PRODUCTS MARKET, BY COUNTRY, $M (2013 – 2024)

FIG 12:  ASIA-PACIFIC WOUND CLOSURE PRODUCTS MARKET, BY TYPE, $M (2013 – 2024)

FIG 13:  ASIA-PACIFIC WOUND CLOSURE PRODUCTS MARKET, BY APPLICATION, $M (2012 –2024)

FIG 14:  ASIA-PACIFIC WOUND CLOSURE PRODUCTS MARKET, BY COUNTRY, $M (2012 –2024)

FIG 15:  ROW WOUND CLOSURE PRODUCTS MARKET, BY TYPE, $M (2013 – 2024)

FIG 16:  ROW WOUND CLOSURE PRODUCTS MARKET, BY APPLICATION, $M (2013 – 2024)

FIG 17:  ROW WOUND CLOSURE PRODUCTS MARKET, BY COUNTRY, $M (2013 – 2024)

FIG 18:  PORTER’S FIVE FORCES OF COMPETITIVE POSITION ANALYSIS

1.      Research Methodology

Wound Closure Product Market Research Methodology
Source: BlueWeave Consulting Analysis

2.  Regional Split of Primary & Secondary Research

Wound Closure Product Market Research Methodology
Source: BlueWeave Consulting Analysis

3. Secondary Research

The research process began with obtaining historical market sizes of the entire wound closure market and the share of each type of segmentation, through exhaustive secondary research to understand the potential of the market under the prevailing market environment during the past years. The growth rate of the market and its segments was studied with a comparative approach to understand the impact of factors that shaped the market during the recent past.

The next step involved the study of present market environment that is influencing the wound closure market and its expected long-term impact. Weightage was given to several forces that are expected to affect the home security market, during the forecast period. Based on the interim analysis, the market numbers were formulated for each of the forecast years for every segment.

4.  Primary Research

Various industry experts including CEOs, presidents, vice presidents, directors, sales managers, products managers, organization executives and other key people of the global wound closure market were interviewed. The third step involved validation of hypothesis through segmented primary research with the key opinion leaders in the industry, including the company representatives, experts from distributer agencies, service providers and other industry experts. The primary research helped in assessing the gathered and assumed data with the real-time experience of industry representatives. This also led to modification in certain assumptions that were taken during the process of preliminary research. The analysts arrived at solid data points after the completion of primary research process.

In the fourth step, the market engineering was conducted, where the data points collected through secondary and primary sources were compiled to compute the final market sizes

4.1    Breakdown of Primary Research Respondents, By Region

Wound Closure Product Market Research Methodology

4.2    Breakdown of Primary Research Respondents, By Industry Participants

Wound Closure Product Market Research
Source: BlueWeave Consulting Analysis

5.  Market Size Estimation

Top-down approach has been followed to obtain the market size by region, and by country. Bottom-Up approach has been followed to obtain market size by type and by application.

An amalgamation of bottom-up and top-down approach has been performed to determine the revenue.

6.  Assumptions for the Study

  • The macro-economic factors would remain same during the forecast period.
  • The market players would exhibit consistent performance during the forecast period without having any adverse ripple effects on the industry.

7.   Market Breakdown & Data Triangulation

Wound Closure Product Market Research Methodoly
Source: BlueWeave Consulting Analysis

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