Wound Closure Devices Market to grow by USD 5.28 Bn; Healthcare Equipment identified as parent market

NEW YORK, Nov. 16, 2022 /PRNewswire/ — The “Wound Closure Devices Market by Product and Geography – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. The report expects the market size to grow by USD 5.28 billion, accelerating at a CAGR of 7.18% during the forecast period. Technavio categorizes the global wound closure devices market as a part of the global healthcare equipment market. The parent, global healthcare equipment market covers products and companies engaged in research and development (R&D) of a variety of product categories, including capital equipment, instruments, implants, accessories, and consumables that are used for the diagnosis, monitoring, and treatment of various diseases. Technavio calculates the global healthcare equipment market size based on combined revenue generated by manufacturers of various diagnostic equipment and devices used across the therapy areas. For highlights on the parent market analysis, Download a Free PDF Sample Report.

Wound Closure Devices Market 2022-2026: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The wound closure devices market report covers the following areas:

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Wound Closure Devices Market 2022-2026: Vendor Landscape

The global wound closure devices market is facing intense competition leading to pricing pressure for various global and local players. These players are focusing on product innovation and increasing existing product capabilities to increase their presence and share in the global wound closure devices market. The local players are confined to a particular region and have robust sales and product distribution networks. There is increasing competition among the players in this market as local players are expanding their business strategic alliances and collaborations to increase their global footprint. Key vendors are focusing on inorganic growth strategies by acquiring small and local players to broaden their product portfolio and expand into emerging markets. They invest in R&D to enhance and upgrade their existing product portfolio and introduce innovative products with advanced technological features to have a competitive edge over the competitors.

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the fast-growing segments, while maintaining their positions in the slow-growing segments. 3M Co., Abbott Laboratories, Arthrex Inc., B. Braun SE, Baxter International Inc., Connexicon Medical Ltd., ConvaTec Group Plc, DeRoyal Industries Inc., Essity Aktiebolag, Futura Surgicare Pvt. Ltd., Integra Lifesciences Holdings Corp., IVT Medical Ltd., Johnson and Johnson, Medtronic Plc, Smith and Nephew plc, Stryker Corp., Teleflex Inc., Theragenics Corp., Welfare Medical Ltd., and Cryolife Inc. are among some of the major market participants. Gain access to detailed vendor profiles. Buy Now!

Wound Closure Devices Market 2022-2026: Segmentation

The global wound closure devices market is segmented as below:

The market growth will be significant in the sutures segment. The manufacturers’ persistent focus on improving product capabilities and developing advanced surgical sutures are expected to fuel the global wound closure devices market. Over the years, the use of sutures for wound closure has been significant due to a high level of acceptance by surgeons. There has been increased usage of sutures in major areas of healthcare facilities such as hospitals and trauma centers. The demand for sutures is increasing and is expected to rise further during the forecast period, owing to its technological advancements.

North America was the largest revenue contributor to the growth of the global wound closure devices market in 2021. The market is expected to witness a slow growth rate during the forecast period as most healthcare facilities use technologically advanced wound closure devices. The increased awareness among physicians, nurses, and individuals related to improved healthcare facilities and the to reduce the infection rate are the driving force for the market. Discover potential segments to invest in the market. Download a Free Sample Report

Wound Closure Devices Market 2022-2026: Key Highlights

• CAGR of the market during the forecast period 2022-2026

• Detailed information on factors that will assist wound closure devices market growth during the next five years

• Estimation of the wound closure devices market size and its contribution to the parent market

• Predictions on upcoming trends and changes in consumer behavior

• The growth of the wound closure devices market

• Analysis of the market’s competitive landscape and detailed information on vendors

• Comprehensive details of factors that will challenge the growth of wound closure devices market vendors

Related Reports:

• The surgical drains wound drainage market is projected to grow by USD 368.22 million with a CAGR of 3.34% during the forecast period 2021 to 2026. The rise in the number of surgeries is notably driving the surgical drains wound drainage market growth, although factors such as postoperative complications may impede the market growth.

• The wound care management devices market share in Spain is expected to increase by USD 97.05 million from 2021 to 2026, at a CAGR of 5.06%. The increasing incidence of diabetic foot ulcers is notably driving the wound care management devices market growth in Spain, although factors such as poor wound care management may impede the market growth.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Product

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

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