The wound closure products are used to close surgical incisions or traumatic wounds and accelerate healing. Sutures, staples, and closure strips are commonly used wound closure products. Advanced wound closure products such as adhesives, tapes, and tissue sealants are gaining more popularity due to their shorter procedure time and reduced risk of invasion. Significant advantages such as reduced blood loss, pain, and scarring associated with these advanced products are driving their adoption. The growing prevalence of chronic wounds owing to the rising geriatric population and incidence of road accidents and burn injuries is fueling the demand for wound closure products.

The global wound closure market is estimated to be valued at US$ 1.84 billion in 2022 and is expected to exhibit a CAGR of 7.1% during the forecast period (2022-2030).

Key Takeaways

Key players: Key players operating in the wound closure market are 3M, Smith & Nephew plc, Johnson & Johnson, B. Braun Melsungen AG, Convatec Group PLC, Integra LifeSciences, Medtronic, Mölnlycke Health Care AB, Cardinal Health, and Stryker. Ethicon Inc. and 3M held a sizable share of the market in 2022 owing to their diverse product portfolios and strong global presence.

The growing incidence of traumatic injuries and surgical procedures has been increasing the Wound Closure Market Opportunities substantially. According to the WHO, road accidents claim around 1.35 million lives across the globe each year. Also, over 230 million major surgeries are performed worldwide annually.

Advanced wound closure products are witnessing significant technological developments. Products with improved efficacy, reduced healing time, lesser scarring, and higher patient comfort are gaining widespread adoption. Tissue adhesives have emerged as a promising alternative to sutures and wound clips in recent years.

Market Trends

- Increased usage of tissue adhesives and skin closure strips: Tissue adhesives form strong bonds on contact activation and enable quick and painless closure of wounds. Significant procedural benefits have increased the adoption of tissue adhesives over sutures.

- Miniaturization of products: Major players are developing miniature wound closure products such as microsurgery tools and fine suture needles to enable minimally invasive surgeries with improved precision.

Market Opportunities

- Growing demand for advanced hemostats: Hemostats are used to control bleeding during surgical procedures. The rising adoption of robotic surgeries is expected to propel the demand for advanced hemostasis products.

- Emergence of bioengineered wound closure materials: Companies are investing in R&D of bioengineered wound closure products incorporating antimicrobial properties, faster healing, and lowered scarring for improved outcomes.

Impact of COVID-19 on Wound Closure Market Growth

The COVID-19 pandemic had a significant impact on the wound closure market. During the initial phases of the pandemic in early 2020, most elective surgeries were postponed to avoid exposure to COVID-19 virus in hospitals and free up resources. This led to a steep decline in demand for wound closure products in 2020. However, as the situation normalized from mid-2020, elective procedures gradually resumed leading to recovery in market growth.

Though the market declined in 2020, several long-term trends emerged due to the pandemic that are expected to drive future growth. There was a shift towards minimally invasive procedures and accelerated adoption of advanced wound closure solutions to reduce infection risk and hospital stay. Telehealth also gained prominence for consultation and post-operative monitoring. Manufacturers responded to the crisis by increasing production of essential wound closure supplies and personal protective equipment kits. They also focused on developing antimicrobial and faster healing products.

With resumption of surgical volumes and emphasis on safety, the wound closure market is projected to rise at a healthy pace in the forecast period. However, future waves of COVID-19 or similar pandemic outbreaks remain a threat that needs to be closely monitored. Stockpiling of essential products, development of single-use items and leveraging digital platforms will be crucial strategies for companies to sustain growth.

North America Dominates Wound Closure Market in Terms of Value

Geographically, North America accounts for the largest share of the global wound closure market in terms of value. This is mainly attributed to factors such as the rising prevalence of chronic diseases, fast adoption of advanced wound care solutions, presence of major market players and superior healthcare infrastructure in the region. Within North America, the US holds the major market share and is expected to continue its dominance due to growing elderly population undergoing surgical procedures.

Asia Pacific Emerges as the Fastest Growing Region in Wound Closure Market

Asia Pacific region is poised to record the fastest growth in the wound closure market during the forecast period. This is owed to increasing healthcare spending, large patient population seeking wound care treatments, and improving access to modern medical technologies in emerging economies like China and India. Rising incidence of lifestyle diseases, rapidly developing private healthcare infrastructure and greater awareness about advanced wound management are key growth boosters in Asia Pacific wound closure market. Countries like China, South Korea and India will spearhead the future demand for wound closure products in this region.

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