The Surgical Incision Devices Closure Market size is estimated to reach $14.9 billion by 2026, growing at a CAGR of 7.7% during the forecast period 2021-2026. Surgical incision devices closure Market includes specially designed sutures, staples, and surgical, mechanical devices that help to close advance wounds care by moving the edges of the wound tissue closer together. Surgical advanced Wound care surgeries closure devices vary in design and may require a tension/pressure adjustment once applied to the patient or absorbed into the skin, depending on the function and manufacture. The rising number of advanced wound care disorders and the increasing demand for advanced wound care surgeries are some of the key factors contributing for Surgical Incision Devices Closure market during the aforesaid period.
Surgical Incision Devices Closure Market Segment Analysis – By product types
Based on Product Type, Surgical Incision Devices Closure Market is segmented into Disposable Surgical Incision Closure and Reusable Surgical Incision Closure. The Disposable Surgical Incision Devices Closure segment dominate the market during the period 2021-2026. This is owing to the increase in the number of advanced wound care surgeries performed globally and its frequent use in all types of Surgical Incision Devices Closure surgeries. However, the global market for handheld surgical instruments is expected to decline over the forecast period owing to a shift in customer preferences from traditional (invasive) to minimally invasive surgeries. Reusable Surgical Incision Closure segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 8.1% during the period 2021-2026. This is owing to the use of reusable surgical incision closure devices that may significantly reduce the cost of a single procedure and make it feasible for a segment of the population that would otherwise not be able to afford it.
Surgical Incision Devices Closure Market Segment Analysis – By Application Types
Based on Application type, Surgical Incision Devices Closure Market is segmented into Esophagectomy, Gastrectomy, Colectomy, Proctectomy, Reconnect Skin. In 2020 Esophagectomy is estimated to hold major share in the market This is owing to an increasing incidence of esophageal cancer among people. However, esophagectomy is the main surgical treatment used for esophageal cancer and advanced wound care. Esophagectomy surgery is done either to remove cancer or to relieve cancer symptoms. However, the gastrectomy segment is projected to grow with a CAGR of 7.9% over the period 2021-2026. This is owing to Patients diagnosed with gastric cancer, trauma, or complicated peptic ulcer disease may require gastrectomy, which is a surgical removal of a portion of or, occasionally, all of the stomach.
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Surgical Incision Devices Closure Market Segment Analysis – By Geography
North America region dominated the Surgical Incision Devices Closure Market share accounting for 37.9% in 2020. This is owing to technological advancements and the presence of prominent players operating in the region. Besides, the growing consumer base of knee replacement surgery, spinal fusion, aesthetic surgery, and hip replacement surgery is estimated to fuel the growth of the North American market for surgical incision closure devices. However, the Asia-Pacific region is projected to be the fastest-growing over the period 2021-2026. This is owing to the increased access to healthcare services and the establishment of new diagnostic centers and hospitals for the treatment of advanced wound care like tissue sealants, endoscopic surgeries, emphysema. In addition, improvements in healthcare infrastructure and increased expenditure in the healthcare sector are the growth of the Asian Pacific Surgical Incision devices closure over the period 2021-2026.
Surgical Incision Devices Closure Market Drivers
Increasing demand for technological advancement in wound closure devices
The Surgical Incision Devices Closure Market is witnessing ever-growing technological growth for the advanced wound care treatments in recent years. These advances are focused on lower healing times, ease of use, price, and lower incidence of hospital-acquired infection. However, minimally invasive stapling devices can be used for endoscopic surgery procedures to reduce a time for healthcare professionals. Moreover, there is an ever-increasing demand for advanced wound care devices among patients this is set to drive and increase the Surgical Incision Devices Closure market value.
Increasing volume of surgical procedures
Surgical Incision Devices Closure market are an integral part of almost every Incision care and surgical procedure. Surgical procedures are medical interventions that produce an incision or small wound at the location where the surgery is performed in the patient’s body. There is an increasing incidence of cardiovascular, endoscopic, orthopedic, gynecological, general, and ophthalmic surgery, resulting in increased demand for wound closure devices as they are designed to help the wound and to manipulate the edges of the wound. however, these factors are driving the Surgical Incision Devices Closure Market during the period 2021-2026.
Surgical Incision Devices Closure Market Challenges
The main challenge in the Surgical Incision Devices Closure market is high technical requirements for the utilization of advanced wound care devices. Wound healing is a natural phenomenon. However, if the tissue is severely damaged, it requires external support to heal faster. Technical assistance from highly skilled professionals to utilize the wound closure device efficiently is essential for the fast and safe recovery of the wounds. The improper usage of Incision closure devices may result in tissue damage, discomfort to the patient, and high chances of developing an infection.
Surgical Incision Devices Closure Market Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Surgical Incision Devices Closure Market. Key companies of this market are Baxter International Inc, Covidien Ltd, 3M HealthCare, Henkel Group, BTG International, Inc, Smith & Nephew PLC, CryoLife, Inc, Ethicon Inc, Tyco Healthcare/Tyco International, Axya Medical Inc among others.
Developments:
In October 2019, U.S.-based 3M has completed the acquisition of the global medical technology firm Acelity and its KCI subsidiaries for an enterprise value of approximately $6.7 billion. This acquisition will help 3M improve customer experience.
In September 2019, Ethicon has launched its Echelon powered circular stapler for colorectal , gastric and thoracic surgery. The new Echelon circular Powered Stapler combines two innovative Ethicon technologies 3D Stapling Technology, which evenly distributes compression and Gripping Surface Technology (GST) a gentler way to reduce compressive tissue forces.
Key Takeaways
In 2020, the North America region held the highest market share. This is owing to technological advancements and the presence of prominent players operating in the region.
Increase in the number of advanced wound care surgeries performed globally and its frequent use in all types of surgeries across the world is driving the growth of Surgical Incision Devices Closure Market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Surgical Incision Devices Closure Market.
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