PUBLISHER: The Business Research Company | PRODUCT CODE: 1546517
PUBLISHER: The Business Research Company | PRODUCT CODE: 1546517
Laceration closure devices are essential medical tools used to facilitate the healing of wounds, commonly employing skin glues and adhesive strips. They offer an effective means to approximate wound edges, accelerating the healing process and minimizing scarring. These devices find extensive use in emergency care and surgical settings.
Key categories of laceration closure devices include staples, hemostatics, adhesives, sutures, strips, sealants, wound closure strips, and mechanical wound closure devices. Staples are specifically designed surgical tools utilized to swiftly and securely close skin wounds, promoting efficient healing. They are applicable across various types of wounds, such as acute injuries, chronic wounds, burns, ulcers, and surgical incisions, and are utilized primarily by hospitals, ambulatory surgery centers, and other healthcare facilities.
The laceration closure devices market research report is one of a series of new reports from The Business Research Company that provides laceration closure devices market statistics, including laceration closure devices industry global market size, regional shares, competitors with a laceration closure devices market share, detailed laceration closure devices market segments, market trends and opportunities, and any further data you may need to thrive in the laceration closure devices industry. This laceration closure devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The laceration closure devices market size has grown strongly in recent years. It will grow from $8.98 billion in 2023 to $9.64 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth observed in the historic period can be attributed to several factors, including rising disability rates, an increase in both infectious and non-communicable diseases, a rise in surgical procedures, an uptick in accidents and sports-related injuries, and an overall increase in healthcare expenditure.
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 anticipated growth in the forecast period can be attributed to several factors, including the growing adoption of technology in cosmetic and plastic surgeries, an increasing number of surgical procedures, rising incidences of infectious and non-communicable diseases, growing demand for skin closure devices, and a rise in chronic wounds. Key trends expected in this period include the expansion of healthcare infrastructure, advancements in technology for cosmetic and plastic surgeries, technological innovations in laceration closure devices, and strategic mergers and acquisitions within the healthcare sector.
The laceration closure device market is expected to grow due to an increase in surgical procedures. Surgical procedures involve invasive medical techniques used to diagnose, treat, or manage injuries, diseases, or conditions. This rise in procedures is driven by factors such as aging populations, advancements in medical technology, and growing demand for elective surgeries. Laceration closure devices play a crucial role in surgeries by efficiently closing wounds, reducing procedure time, minimizing tissue trauma, and promoting faster healing compared to traditional sutures. For example, according to the International Society of Aesthetic Plastic Surgery (ISAPS), breast augmentation remained the most common surgical procedure among women in 2022, with 2.2 million procedures performed, marking a 29% increase from the previous year. This trend underscores the market's growth driven by increased surgical activity.
Leading companies in the laceration closure devices market are focusing on innovation, such as skin closure variety packs, to improve wound management efficiency and effectiveness. These packs include a range of closure devices such as sutures, staples, adhesive strips, and tissue adhesives tailored to different wound closure needs. For instance, Kitotech Medical Inc. introduced the microMend Skin Closure Variety Pack in November 2021, featuring various devices designed for wounds of different sizes. This comprehensive solution combines the microMend skin closure device with a hemostatic dressing to stop bleeding, enabling effective treatment of significant cuts and lacerations at home without requiring immediate medical attention. The microMend devices utilize patent-pending micro staple technology to securely attach to the skin, providing the strength of sutures with a faster application process.
In March 2024, Advanced Medical Solutions Group plc acquired Peters Surgical SASU to strengthen its position in tissue repair and skin closure. This acquisition enhances Advanced Medical Solutions' product offerings and expands its direct selling capabilities in key markets, aiming for high single-digit earnings growth in the first full year. Peters Surgical SASU, based in France, specializes in manufacturing and supplying medical devices, including laceration closure devices.
Major companies operating in the laceration closure devices market are Cardinal Health Inc., Johnson & Johnson, 3M Company, Medtronic plc, Becton Dickinson and Company (BD), Stryker Corporation, Baxter International Inc., Boston Scientific Corporation, B. Braun Melsungen AG, Zimmer Biomet Holdings Inc., Smith & Nephew plc, Terumo Corporation, Dentsply Sirona Inc., Teleflex Incorporated, Arthrex Inc., Coloplast Group, ConvaTec Group PLC, Integra LifeSciences Corporation, Merit Medical Systems Inc., CryoLife Inc., Molnlycke Health Care AB, Aspen Surgical Products, Wound Care Technologies Inc., BSN medical GmbH
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 countries covered in the laceration closure devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The laceration closure devices market consists of sales of products including sutures, staplers, adhesive tapes and glues, and hemostats. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Laceration Closure Devices Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on laceration closure devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for laceration closure devices ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The laceration closure devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.