In-Depth 2024 Laceration Closure Devices Market Analysis: Growth, Share, and Emerging Trends
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2024-2033 Laceration Closure Devices Market Growth Rate: What’s the Forecast?
The laceration closure devices market size has grown substantially in recent years, expected to increase from $8.98 billion in 2023 to $9.64 billion in 2024, reflecting a CAGR of 7.4%. Factors contributing to this growth historically include rising disability rates, a higher incidence of infectious and non-communicable diseases, an increase in surgical procedures, more accidents and sports injuries, and rising healthcare expenditures.
The laceration closure devices market size is expected to see strong growth in the next few years. It will grow to $12.89 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to the increasing use of technology in cosmetic or plastic operations, the increase in the number of surgical procedures, the rising incidence of infectious and non-communicable diseases, the demand for skin closure devices, and the and the rising incidence of chronic wounds. Major trends in the forecast period include the expansion of healthcare infrastructure, technology in cosmetic or plastic operations, technological advancements in laceration closure devices, and strategic mergers and acquisitions.
What Drivers Are Accelerating the Growth of the Laceration Closure Devices Market?
The rise in surgical procedures is anticipated to enhance the growth of the laceration closure device market. Surgical procedures involve invasive techniques to diagnose, treat, or manage injuries, diseases, or conditions. The demand for surgical procedures is increasing due to aging populations, advancements in medical technology, and a growing preference for elective surgeries. Laceration closure devices are advantageous in surgical procedures for their effectiveness in closing wounds, reducing procedure time, minimizing tissue trauma, and promoting faster healing than traditional sutures. For instance, in September 2023, the International Society of Aesthetic Plastic Surgery reported that breast augmentation is expected to remain the most common surgical procedure among women, with 2.2 million procedures performed in 2022, reflecting a 29% increase from 2021. Thus, the rising number of surgical procedures is driving the laceration closure device market.
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What Key Segments Can Be Identified in the Laceration Closure Devices Market?
The laceration closure devices market covered in this report is segmented –
1) By Product: Staples, Hemostats, Adhesives, Sutures, Strips, Sealants, Wound Strips, Mechanical Wound Closure Devices
2) By Wound Type: Acute, Chronic, Burns, Ulcers, Surgical Wounds
3) By End-User: Hospitals, Ambulatory Surgery Centers, Other End-Users
What Trends Are On the Rise in the Laceration Closure Devices Market?
Companies are developing skin closure variety packs to improve wound management efficiency. In November 2021, Kitotech Medical Inc. launched the microMend Skin Closure Variety Pack, featuring various closure devices for different wound sizes.
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What Regions Are Steering Growth in the Laceration Closure Devices Sector?
North America was the largest region in the laceration closure devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the laceration closure devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Laceration Closure Devices Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the laceration closure devices market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Laceration Closure Devices Market Include
1. Laceration Closure Devices Market Executive Summary
2. Laceration Closure Devices Market Segments
3. Laceration Closure Devices Market Size And Template Market Growth Rate
4. Key Laceration Closure Devices Market Trends
5. Major Laceration Closure Devices Market Drivers
……
25. Key Mergers And Acquisitions In The Laceration Closure Devices Market
26. Top Laceration Closure Devices Companies
27. Laceration Closure Devices Market Opportunities And Strategies
28. Laceration Closure Devices Market, Conclusions And Recommendations
29. Appendix
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