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What is the Anticipated CAGR of the Wound Closure Devices Market, and What Factors Will Drive It?

The market value of wound closure devices has significantly expanded in the recent past. Expected growth is from $16.68 billion in 2024 to $17.94 billion in 2025, with a compound annual growth rate (CAGR) of 7.5%. The historic growth rate is a result of several factors – the increased frequency of surgical procedures, a growing aged populace, the prevalence of prolonged illnesses, the rise in severe injury incidents, a shift towards less invasive surgical procedures, a patient preference for aesthetic healing, and the availability in both hospital and ambulatory care settings.

Anticipations for robust expansion are underway for the wound closure devices market in the next few years. By 2029, the market valuation is projected to reach $25.09 billion, courtesy of an 8.7% compound annual growth rate (CAGR). The surge during the forecast period can be credited to several factors such as patient safety and prevention of infections, telemedicine and remote wound care, biodegradable closure devices, home healthcare and self-care, global preparations for health emergencies, increased outpatient procedures, and value-oriented healthcare models. Key trends propelling growth during the forecast period include the adoption of minimally invasive wound closure methods, concentration on rapid wound healing, rising demand for hemostats and sealants, a shift towards disposable wound closure devices, and regulatory policies focused on patient safety.

What Key Drivers Are Accelerating the Growth of the wound closure devices Market During the Forecast Period?

The anticipated growth of the wound closure devices market is largely attributed to the rising number of patients who are undergoing surgical procedures. Surgery is a medical specialty that uses operative manual and instrumental techniques on an individual to diagnose or treat a pathological condition, such as an illness or injury. This aids in improving bodily functions, beauty, or fixing undesirable ruptured areas. Wound closure devices come into play when treating chronic injuries, surgical wounds, skin grafts, and flaps. For instance, a report published by the International Society of Aesthetic Plastic Surgery in June 2024 highlighted that total surgical and non-surgical procedures in the US had gone up by 3.4% in 2023, tallying up to 34.9 million. Procedures done on the face and head had a notable rise, amassing more than a whopping 6.5 million, marking a 19.6% increase from the prior year. The most common procedures included eyelid surgeries accounting for over 1.7 million procedures (a 24% rise), rhinoplasty recording 1.1 million procedures (a 21.6% rise), and lip enhancement/perioral procedures which rose by 29% to 0.9 million. As a consequence, the expanding number of patients opting for surgeries is significantly contributing to the growth of the wound closure devices market.

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Who Are the Top Companies Contributing to the Growth of the Wound Closure Devices Market?

Major companies operating in the wound closure devices market are:

• Abbott Laboratories_x000D_

• Advanced Medical Solutions Group PLC_x000D_

• Arthrex Inc._x000D_

• B Braun Melsungen AG_x000D_

• Baxter International Inc._x000D_

How Are Technological Trends Affecting the Growth and Development of the Wound Closure Devices Market?

The surge of technological advancements is becoming a prominent trend in the wound closure devices market. Leading corporations in this market are designing innovative technological solutions that are flexible and can integrate with other components to attain a competitive market position. For instance, in October 2023, DuPont, a US-based chemical enterprise, introduced a new product dubbed DuPont Liveo MG 7-9960 Soft Skin Adhesive. This particular formulation is non-irritating and non-sensitizing, making it an ideal choice for people with sensitive skin including children, the elderly and those with skin conditions or open wounds. This adhesive maintains its effectiveness even when repositioned – a critical feature in healthcare contexts where modifications might be required. The adhesive offers mild adhesion for wound dressings, guaranteeing that they remain secure but also allow for easy removal without inflicting further damage to the skin.

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How Are Key Segments Defining the Competitive Landscape of the Wound Closure Devices Market?

The wound closure devices market covered in this report is segmented –

1) By Product Type: Adhesives, Staples, Sutures, Strips, Sealants, Mechanical Wound Closure Devices

2) By Wound Type: Chronic, Acute

3) By End-Use: Hospital, Clinics, Trauma centers, Other End-Users

Subsegments:

1) By Adhesives: Tissue Adhesives, Surgical Adhesives, Cyanoacrylate Adhesives

2) By Staples: Surgical Staples, Skin Staples, Ligating Clips

3) By Sutures: Absorbable Sutures, Non-Absorbable Sutures, Barbed Sutures, Specialty Sutures

4) By Strips: Adhesive Strips, Hydrocolloid Strips, Antimicrobial Strips

5) By Sealants: Biological Sealants, Synthetic Sealants, Fibrin Sealants, Gelatin Sealants

6) By Mechanical Wound Closure Devices: Wound Closure Systems, Skin Closure Devices, Wound Closure Clips and Tapes

What Are the Key Regions Powering Growth in the Wound Closure Devices Market?

North America was the largest region in the wound closure devices market in 2024. The regions covered in the wound closure devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Defines the Scope of the Wound Closure Devices Market?

Wound closure devices refer to internal consistency, reliability, and mechanical gear that help in wound closure by bringing wound tissue margins closer together. The wound closure devices are used to stop the bleeding, prevent infection, accelerate healing, and preserve the look and function of the damaged region.

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