Wound Closure & Advanced Wound Care Market by Product, Application, End-User

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[192 Pages Report] The Wound Closure & Advanced Wound Care Market size was estimated at USD 16.34 billion in 2023 and expected to reach USD 17.86 billion in 2024, at a CAGR 9.47% to reach USD 30.78 billion by 2030.

Wound closure is a medical procedure aimed at approximating the edges of a wound to facilitate healing and minimize the risk of infection. This process is crucial for restoring the skin's integrity and function following an injury or surgery. Wound closure techniques vary depending on the nature and severity of the wound and include sutures, staples, adhesive tapes, and adhesives. Moreover, enhanced investment in healthcare and focus on reducing hospital stays contribute positively to market growth. However, the high costs associated with wound care and management and the complexity issues associated with chronic wound treatments may challenge the market growth. Nevertheless, the introduction of smart wound care solutions incorporating sensors and data analytics to monitor wound healing and reduce complications is expected to offer significant opportunities for the market. Moreover, advances in tissue engineering and stem cell therapy offer significant opportunities within the market.

KEY MARKET STATISTICS
Base Year [2023]	USD 16.34 billion
Estimated Year [2024]	USD 17.86 billion
Forecast Year [2030]	USD 30.78 billion
CAGR (%)	9.47%

Product: Proliferation of collagen-based sealants to support tissue healing

Collagen-based sealants are derived from animal collagen and are used to promote hemostasis (the cessation of bleeding) and to support tissue healing. They can be applied to various surgical and traumatic wounds to assist in clotting and act as a scaffold for new tissue growth. Collagen-based sealants are preferred in surgeries involving vital organs and patients prone to bleeding because of their natural hemostatic properties and excellent biocompatibility. Fibrin-based sealants mimic the final stages of the body's coagulation cascade, forming a fibrin clot to stop bleeding. They are developed from concentrated human fibrinogen and thrombin and can be used in conjunction with mechanical closure techniques. Fibrin-based sealants are used to treat patients with clotting disorders or undergoing complex surgical procedures, as they effectively mimic the body's natural clotting process and are fully resorbable. Hydrocolloids are absorbent, adhesive substances that form a gel when in contact with wound exudate. They help maintain a moist wound environment, which is beneficial for healing and can be used for pressure ulcers, burns, and complex wounds. These sealants are often preferred for their ability to be used on various wound types and are particularly beneficial in managing small to moderate exuding wounds. Synthetic adhesives are non-biological compounds that quickly bond tissue surfaces to close wounds. They often consist of cyanoacrylates, rapidly polymerizing agents providing immediate wound closure strength. Synthetic adhesives are commonly used to close minor cuts, lacerations, or incisions, mainly when speed and immediate sealing of the wound is required.

Application: Preferences for wound closure & advanced wound care in chronic wounds such as diabetic foot ulcers

Chronic wounds, such as venous leg ulcers, pressure ulcers, and diabetic foot ulcers, are wounds that fail to heal within the expected timeframe. These wounds are often associated with underlying health conditions, such as diabetes or circulatory problems, and can be considerably costly to manage due to their persistent nature. The treatment includes advanced dressings, negative pressure wound therapy devices, and biosynthetic and biological skin substitutes that aim to address the underlying causes and promote healing. Diabetic foot ulcers (DFUs) are a major complication of diabetes, with a significant impact on morbidity and mortality. Proper care of DFUs is critical in preventing infections that can lead to amputations. Pressure ulcers are injuries to the skin and underlying tissue resulting from prolonged pressure on the skin. They commonly occur in patients who are bedridden or immobile. Pressure ulcer treatment includes pressure-relieving devices such as specialized mattresses and cushions and advanced wound dressings that promote tissue regeneration and protect against infection. Venous leg ulcers are chronic sores that occur on the lower legs due to poor blood circulation, specifically venous insufficiency. The mainstay of treatment involves compression therapy to improve circulation, along with dressings that cater to the specific needs of the wound environment.

End-User: Increased adoption in hospital setting owing to procedures ranging from surgery to emergency care

Clinics cater to outpatients and handle minor to moderate wounds that do not require hospitalization. The preference in clinics is usually for cost-effective, easy-to-use products that allow for quick patient turnover. Products such as absorbable sutures, adhesive strips, and topical skin adhesives are commonly used. Additionally, clinics may utilize advanced dressings that promote faster healing and reduce the need for follow-up visits. The home healthcare segment requires products that are easy for patients or caregivers to use independently. Advanced dressings that maintain a moist wound environment and can be left in place without frequent changes are preferred. Negative pressure wound therapy devices are also seeing an increased demand for in-home care as technology becomes more accessible and portable. Hospitals require a broad spectrum of wound closure and care products to address the varied and often more complex wounds treated in this setting. The preferred products can reduce patient recovery time, minimize the risk of infection, and be used in procedures ranging from surgery to emergency care. Staples, advanced sutures, surgical sealants, and sophisticated dressings for burn care and surgical wounds are common choices.

Regional Insights

The wound closure and advanced wound care market in the Americas is highly developed, with well-established healthcare infrastructure supporting R&D and distribution. Consumer needs in the Americas are geared towards high-quality and technologically advanced products, focusing on minimally invasive solutions. The U.S. hosts several ground-breaking research initiatives, often backed by large investments from both private and public sectors. The market has also seen a wave of initiatives aiming to address the opioid crisis by developing alternative pain management solutions for post-surgical care. The EMEA region presents a diverse market with varying degrees of product adoption and healthcare spending. With their standardized regulatory framework, the European Union countries offer a stable market for advanced wound care products. Consumer needs across EMEA vary greatly, with Western Europe favoring cutting-edge products, while price sensitivity is more pronounced in Africa and the Middle East. The EMEA region is an active site for the latest patents and research, which often benefit from EU funding and initiatives such as Horizon Europe. The Asia Pacific region is witnessing significant growth in the wound closure and advanced wound care market. This can be attributed to an increasing aging population, a rising incidence of chronic wounds, and an expanding healthcare infrastructure. Consumer needs within the region are driven by a demand for cost-effective products due to high out-of-pocket healthcare spending. Recent investments are focused on improving product accessibility and expanding local production capabilities.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Wound Closure & Advanced Wound Care Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Wound Closure & Advanced Wound Care Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Wound Closure & Advanced Wound Care Market, highlighting leading vendors and their innovative profiles. These include 3M Company, Argentum Medical, Axio Biosolutions Private Limited by Advamedica Inc., B. Braun SE, Cardinal Health, Inc., Coloplast A/S, Convatec Limited, Essity AB, Hollister Incorporated, Integra LifeSciences Corporation, Johnson & Johnson Services, Inc., Lohmann & Rauscher GmbH & Co. KG, Medline Industries, LP, Medtronic PLC, MIMEDX Group, Inc., Misonix, Inc. by Bioventus LLC, Molnlycke Health Care AB, Organogenesis Inc., Paul Hartmann AG, PolarityTE, Inc., Smith & Nephew PLC, Tides Medical, Tissue Regenix Ltd., Urgo Ltd., and Zimmer Biomet Holdings, Inc..

Market Segmentation & Coverage

This research report categorizes the Wound Closure & Advanced Wound Care Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Collagen-Based Sealants
- Fibrin-Based Sealants
- Hydrocolloids-Based Sealants
- Synthetic Adhesives

Application
- Acute Wounds
  - Burns
  - Surgical & Traumatic Wounds

Chronic Wounds
- Diabetic Foot Ulcer
- Pressure Ulcer
- Venous Leg Ulcer

End-User
- Clinics
- Home Healthcare
- Hospitals

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Wound Closure & Advanced Wound Care Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Wound Closure & Advanced Wound Care Market?

3. What are the technology trends and regulatory frameworks in the Wound Closure & Advanced Wound Care Market?

4. What is the market share of the leading vendors in the Wound Closure & Advanced Wound Care Market?

5. Which modes and strategic moves are suitable for entering the Wound Closure & Advanced Wound Care Market?

Product Code: MRR-221461476BAB

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing geriatric population an increasing number of patients with chronic wounds
  - 5.1.1.2. Improving healthcare infrastructure and access across economies
  - 5.1.1.3. Globally rising rate of accidents and trauma cases
- 5.1.2. Restraints
  - 5.1.2.1. High cost associated with wound care and management
- 5.1.3. Opportunities
  - 5.1.3.1. Introduction of smart wound care products and technologies
  - 5.1.3.2. Development of burn care centers in economies
- 5.1.4. Challenges
  - 5.1.4.1. Complexity issues associated with chronic wound treatments
5.2. Market Segmentation Analysis
- 5.2.1. Product: Proliferation of collagen-based sealants to support tissue healing
- 5.2.2. Application: Preferences for wound closure & advanced wound care in chronic wounds such as diabetic foot ulcers
- 5.2.3. End-User: Increased adoption in hospital setting owing to procedures ranging from surgery to emergency care
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Wound Closure & Advanced Wound Care Market, by Product

6.1. Introduction
6.2. Collagen-Based Sealants
6.3. Fibrin-Based Sealants
6.4. Hydrocolloids-Based Sealants
6.5. Synthetic Adhesives

7. Wound Closure & Advanced Wound Care Market, by Application

7.1. Introduction
7.2. Acute Wounds
7.3. Chronic Wounds

8. Wound Closure & Advanced Wound Care Market, by End-User

8.1. Introduction
8.2. Clinics
8.3. Home Healthcare
8.4. Hospitals

9. Americas Wound Closure & Advanced Wound Care Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Wound Closure & Advanced Wound Care Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Wound Closure & Advanced Wound Care Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Innosphere Ventures Fund Announces Major Investment in GelSana to Revolutionize Advanced Wound Care
- 12.3.2. DuPont Launches New Soft Skin Adhesive for Wound Care Dressings
- 12.3.3. Coloplast Expands Wound Care Offerings with Kerecis Acquisition
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio