Wound Closure Strips Market Size by Segments, Share, Regulatory, Reimbursement, Procedures and Forecast to 2033
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Wound Closure Strips Market Report Overview
The wound closure strips market size is $231.5 million in 2023. The market is expected to grow at a CAGR of more than 3% during 2023-2033. Wound closure strips are hypoallergenic adhesive strips used to seal wounds, incisions, and lacerations. They are ideal for joints as they secure the skin close together, thus eliminating the requirement of surface stitches or staples. Therefore, the wound can heal by more natural means. Wound closure strips are majorly used in surgical and trauma cases, but their usage is negligible in the treatment of chronic wounds and burn cases.
Wound Closure Strips Market Outlook, 2023-2033 ($ Million)
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The wound closure strips market research report is built to visualize quantitative market trends within the Wound Care Management therapeutic area. The model discusses in detail the impact of COVID-19 on the wound closure strips market for 2020 and beyond. Each of the covered 39 countries’ color-coded and fully sourced market model is equipped with epidemiology-based indications with procedure volumes.
Market Size (2023) | $231.5 million |
CAGR (2023-2033) | >3% |
Forecast Period | 2023-2033 |
Historical Period | 2015-2022 |
Key Regions | · North America
· Europe · Asia Pacific · South Central America · Middle East and Africa |
Leading Companies | · 3M Co
· Smith & Nephew Plc · Lohmann & Rauscher GmbH & Co. KG · BSN Medical GmbH · DeRoyal Industries Inc |
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Wound Closure Strips Market Dynamics
The primary driver of the wound closure strips market is the increasing number of surgical procedures that are propelled by an aging population. Notably, emerging markets, especially large markets such as India and China, have significant untapped potential in expanding the worldwide wound closure devices market. As incomes and living standards in these nations continue to rise, a greater segment of the world’s population demands better healthcare.
Additionally, several technological advancements in the wound closure devices market have led to higher adoption of wound closure strips compared to other traditional methods of dressing wounds. The advancements in wound closure include the use of different kinds of materials that provide better tissue holding capacity as well as fewer risks of infection and scar tissue formation being developed for specific procedures.
Wound Closure Strips Market Segmentation by Regions
The key regions in the wound closure strips market are North America, Europe, the Asia-Pacific, South Central America, and the Middle East and Africa. North America holds the largest share of the wound closure strips market in 2023 and the region is expected to retain its leading position through the forecast period. The US holds the largest contribution to the regional market. The factors driving the North American wound closure strips market growth include rising income, improving health awareness, the willingness of medical practitioners to use the latest wound closure devices, and the rising diabetic population and subsequent increase in surgical procedures.
Wound Closure Strips Market Analysis by Regions, 2023 (%)
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Wound Closure Strips Market - Competitive Landscape
A few of the leading companies in the wound closure strips market are 3M Co., Smith & Nephew Plc, Lohmann & Rauscher GmbH & Co. KG, BSN Medical GmbH, and DeRoyal Industries Inc. 3M Co. holds the largest share of the wound closure strips market in 2023.
Wound Closure Strips Market Analysis by Companies, 2023 (%)
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Segments Covered in the Report
Wound Closure Strips Regional Outlook (Value, $ Million, 2015-2033)
- North America
- Europe
- Asia Pacific
- South Central America
- Middle East and Africa
Key Inclusions
Key Inclusions of the market model are:
Currently marketed wound closure strips and evolving competitive landscape –
– Insightful review of the key industry trends.
– Annualized total Wound Closure Strips market revenue by segment and market outlooks from 2015-2033.
– Granular data on total procedures, units, average selling prices, and market values by segment.
Global, Regional, and Country level market specific insights –
– Qualitative market-specific information is available with global trends further broken down into regional trends. In addition, GlobalData analysts provide unique country-specific insights on the market.
– SWOT analysis for the wound closure strips market.
– Competitive dynamics insights and trends provided for the wound closure strips market.
Drive the understanding of the market by getting the veritable big picture including an overview of the healthcare system. In addition, the market access segment allows you to delve deeper into market dynamics with information on reimbursement policies and the regulatory landscape.
– Country-specific overview of the healthcare system.
– Country-specific reimbursement policies.
– Country-specific medtech regulatory landscape.
Robust methodologies and sources enable the model to provide an extensive and accurate overview of the market. Demand and supply-side primary sources are integrated within the syndicated models, including Key Opinion Leaders. In addition, real-world data sources are leveraged to determine market trends; these include government procedure databases, hospital purchasing databases, and proprietary online databases.
Companies covered: 3M Co, Smith & Nephew Plc, Lohmann & Rauscher GmbH & Co. KG, BSN Medical GmbH, DeRoyal Industries Inc, Paul Hartmann AG, Urgo Ltd, Cardinal Health Inc, DUKAL Corp, Medline Industries LP, and others.
Countries covered: United States, United Kingdom, Germany, France, Italy, Spain, Brazil, China, India, Russia, Japan, Australia, Canada, Mexico, South Korea, Denmark, Ireland, Netherlands, New Zealand, South Africa, Sweden, Switzerland, Austria, Belgium, Finland, Israel, Norway, Poland, Portugal, Taiwan, Czech Republic, Greece, Hungary, Turkey, Egypt, Saudi Arabia, United Arab Emirates, Argentina, and Chile.
Scope
This Market Model gives important, expert insight you won’t find in any other source. The model illustrates qualitative and quantitative trends within the specified market. This model is required reading for:
- CMO executives who must have deep understanding of the Wound Closure Strips marketplace to make strategic planning and investment decisions.
- Sourcing and procurement executives who must understand crucial components of the supply base to make decisions about supplier selection and management.
- Private equity investors who need a deeper understanding of the market to identify and value potential investment targets.
Reasons to Buy
The model will enable you to –
- Understand the impact of COVID-19 on the Wound Closure Strips market.
- Develop and design your in-licensing and out-licensing strategies through a review of pipeline products and technologies, and by identifying the companies with the most robust pipeline.
- Develop business strategies by understanding the trends shaping and driving the Wound Closure Strips market.
- Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the Wound Closure Strips market in the future.
- Formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the company share of market leaders.
- Identify emerging players with potentially strong product portfolios and create effective counterstrategies to gain a competitive advantage.
- Track device sales in the global and country-specific Wound Closure Strips market from 2015-2033.
- Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments, and strategic partnerships.
Smith & Nephew Plc
Lohmann & Rauscher GmbH & Co. KG
BSN Medical GmbH
DeRoyal Industries Inc
Paul Hartmann AG
Urgo Ltd
Cardinal Health Inc
DUKAL Corp
Medline Industries LP
Others
Frequently asked questions
-
What is the wound closure strips market size in 2023?
The wound closure strips market size is $231.5 million in 2023.
-
What is the growth rate of the wound closure strips market?
The wound closure strips market is expected to grow at a CAGR of more than 3% during 2023-2033.
-
Which region holds the largest share of the wound closure strips market?
North America holds the largest wound closure strips market share in 2023.
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Who are the major players operating in the wound closure strips market?
A few of the leading companies in the wound closure strips market are 3M Co., Smith & Nephew Plc, Lohmann & Rauscher GmbH & Co. KG, BSN Medical GmbH, and DeRoyal Industries Inc.
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