PUBLISHER: KBV Research | PRODUCT CODE: 1539121
PUBLISHER: KBV Research | PRODUCT CODE: 1539121
The Global Wound Closure Strips Market size is expected to reach $354.5 million by 2031, rising at a market growth of 5.2% CAGR during the forecast period.
Physician offices often serve as the first point of contact for patients with minor injuries, lacerations, or post-surgical follow-ups. Wound closure strips offer a quick, convenient, and cost-effective solution for physicians to manage these types of wounds, reducing the need for more invasive procedures. Their widespread use in these settings, coupled with the high volume of patients treated in physician offices, contributes to the strong performance of this segment in the market. Thus, the physician's office segment recorded 12% revenue share in the wound closure strips market in 2023.
Trauma, which encompasses a wide range of injuries resulting from accidents, falls, and sports-related activities, is becoming more prevalent due to various lifestyle and environmental factors. Road accidents and industrial mishaps have risen sharply as populations grow and urbanize.
Additionally, patients undergoing MIS are often looking for not only effective treatment but also a quicker return to normal activities with minimal visible reminders of their surgery. Wound closure strips support these goals by promoting better cosmetic outcomes and faster healing.
However, the effectiveness of wound closure strips is largely determined by the type and severity of the wound, which inherently limits their applicability to certain scenarios. These strips work by gently pulling the edges of the wound together, allowing the skin to heal naturally while minimizing the risk of scarring and infection. However, this closure method is only effective when the wound is relatively uncomplicated, clean, and shallow.
Product Type Outlook
Based on product type, the wound closure strips market is bifurcated into flexible and reinforced. The flexible segment garnered 63% revenue share in the wound closure strips market in 2023. Flexible wound closure strips are designed to provide strength and elasticity, allowing them to conform closely to the skin's contours.
Sterility Outlook
The non-sterile segment recorded 21% revenue share in the wound closure strips market in 2023. Non-sterile wound closure strips are typically used in less critical situations, such as minor cuts and abrasions, or in first-aid scenarios where the risk of infection is lower.
Indication Outlook
By indication, the market is divided into surgical wounds and lacerations & minor cuts. The surgical wounds segment witnessed 66% revenue share in the market in 2023. Surgical wounds, resulting from procedures that require incisions, are typically larger and more complex, necessitating reliable and effective wound closure methods to promote healing and prevent complications such as infections.
Distribution Channel Outlook
On the basis of distribution channel, the market is divided into institutional sales and retail sales. The institutional sales segment witnessed 64% revenue share in the market in 2023. This segment encompasses the bulk purchasing and distributing of wound closure strips to healthcare institutions such as hospitals, clinics, and nursing homes.
End Use Outlook
Based on end-use, the market is segmented into hospitals, specialty clinics, home healthcare, physician's office, nursing homes, and others. The hospitals segment procured 41% revenue share in the market in 2023. Hospitals are the primary setting for various medical procedures, including surgeries, emergency care, and trauma management, which often require wound closure strips.
Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe segment acquired 27% revenue share in the market in 2023. Germany, France, and the United Kingdom are among the countries in Europe that have a comprehensive healthcare system, and they are at the forefront of medical research and innovation.
List of Key Companies Profiled
Global Wound Closure Strips Market Report Segmentation
By Product Type
By Sterility
By Indication
By Distribution Channel
By End-use
By Geography