The Global Market for Surgical Incision Closures is Projected to Reach US$16.6 Billion by 2020
Shift Towards Noninvasive Closure
Technologies to Drive the Surgical Incision Closures Market, According to a New
Report Update by Global Industry Analysts,
Inc.
GIA announces the release of a comprehensive global
report update on Surgical Incision Closures. The
global market for Surgical Incision Closures is projected to reach US$16.6 billion by 2020, primarily driven
by new age surgical incision closure products that aid in faster rate of
incision closure and better post-operative wound management and growth in
healthcare services in developing markets.
Global surgical incision closures market has been
receiving a major boost in the form of new generation closure technologies that
offer faster and efficient healing, reduced surgical site infection risk, and aesthetic
benefits. With clinicians showing marked interest in reducing operation time, cutting
operational costs, and enhancing patient comfort, advanced wound closure
devices are gaining preference over traditional products. Besides
the rise in general surgical procedure volumes, increase in the number
of cosmetic surgeries is also driving market gains. Growth is expected to be
high in emerging nations where advanced wound closure products are gradually
penetrating the surgical domain.
Driven by rise in application
procedures and an expanding target population, hemostats and tissue sealants are
the major revenue generators in the wound closure devices market, mainly due to
their improved clinical outcomes and economic benefits. Surgical glues
and sealants are used as key adjunctive products to seal suture and staple
lines and also as regular hemostatic agents for controlling bleeding during
surgery. Tissue adhesives, which account for a small portion of
the market, are growing at a brisk pace. The market is expected to draw growth
from development of high strength adhesives including cyanoacrylates. Fibrin
sealants offer benefits such as high biocompatibility coupled with absence of
foreign material reactions and reduced risk of unwanted bleeding.
While
new technologies continue to pose a threat to sutures and stapling
products, growth in the market remains afloat driven by new
design and product developments aimed at minimizing trauma and
tissue handling. Absorbable sutures are gaining a
significant share of the suture market, largely due to increasing acceptance
among surgeons. Absorbable
sutures eliminate the post-operative strain for removal of sutures, thereby
reducing costs as well as hospitals visits. The
evolution of laparo-endoscopic procedures and natural orifice transluminal
endoscopic surgery has resulted in the development
of a broad range of endoscopic sutures, appliers,
staples and clips to assist MIS procedures. Some of the new
advancements offer surgeons better hold of the tissue that enable easy adjustment
during the procedure. Nanotechnology is also gaining
attention for its possible application in the area of surgical incision
closures as researchers focus on alternative technologies to facilitate
effective scar free surgery without trauma.
As stated by the new market
research report on Surgical Incision Closures, the United States represents the
largest market worldwide. Asia-Pacific represents the fastest growing market at a CAGR of 7.4% over the analysis period. Growth in the region is led by the rise in healthcare expenditure, healthcare
infrastructure investments, and medical tourism in countries such as India.
Major players covered in the report include 3M
HealthCare, Abbott Laboratories, Advanced Medical Solutions Group Plc, Aesculap
AG & Co.KG, Baxter International Inc., CP Medical, Inc., Derma Sciences,
Inc., Ethicon Endo-Surgery, Inc, Medtronic, Inc., Smith & Nephew, Surgical
Specialties Corporation (US), Inc. and Teleflex Medical OEM, among others.
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