Wound Closure Market to Exhibit a CAGR of 6.1% from 2024 to 2032; Baxter Released PERCLOT Absorbable Hemostatic Powder in the U.S. to Gain a Competitive Edge

The global wound closure market size stood at USD 13.80 billion in 2023. The market value is slated to rise from USD 14.59 billion in 2024 to USD 23.51 billion by 2032 at a CAGR of 6.1% during 2024-2032. Fortune Business Insights™ presents this information in its report titled

“Wound Closure Market Size, Share & Industry Analysis, By Product Type (Sutures [Absorbable and Non-absorbable], Hemostatic Agents [Active Hemostats, Passive Hemostats, Combination Hemostats, and Others], Staplers [Powered and Manual], and Others), By Application (Orthopedics, Gynecology and Obstetrics, General Surgery, Ophthalmology, Cardiology, and Others), By End-User (Hospitals & ASCs, Specialty Clinics, and Others), and Regional Forecast, 2024-2032”

Wound closure is the last stage of surgical intervention among patients. The preferential move from traditional to modern products for wound closure is escalating market growth. Key companies are emphasizing research and development activities to design and introduce hemostats, novel staplers, and other products.

The market witnessed a negative influence of the COVID-19 pandemic, which can be credited to a drop in demand for products due to restricted patient visits to hospitals and clinics for surgical procedures. In addition, a fall in revenues was reported by market leaders on account of a decline in sales of products across the world.

Baxter Unveiled PERCLOT Absorbable Hemostatic Powder to Achieve a Competitive Advantage

In July 2023, Baxter International Inc., a prominent name in advancing surgical innovation, announced the U.S. release of PERCLOT Absorbable Hemostatic Powder. It is an absorbable, passive hemostatic powder that is developed for people with intact coagulation to address mild bleeding. The company also revealed that it is working with prominent customers representing multiple key hospitals across the nation for the addition of PERCLOT to their standard of care. 

Rising Incidence of Chronic Disorders and Diagnosis Among Patients to Bolster Market Growth

The growing incidence of chronic disorders, such as orthopedic and cardiovascular disorders, among others, is leading to a growing number of hospitalizations in healthcare settings. The rising number of patients is further aiding the increasing number of surgeries, leading to the emergence of different approaches and strategies to enhance care for chronic disorders among patients.

However, the prohibitive costs pertaining to advanced products may impede wound closure market growth.

Prominent Players Focus on Securing Approvals for Their Products to Offer Enhanced Solutions

In 2023, the market was led by Johnson & Johnson Services, Inc. The growing emphasis of the company on securing approvals for wound closure products, including sutures, hemostats, and others, is leading to its dominant position. Some of the strategic initiatives implemented by prominent companies include acquisitions, collaborations, and capacity expansions. Many players are striving to secure product approvals from the U.S. FDA to deliver enhanced solutions.

List of Key Players Profiled:

• Johnson & Johnson Services, Inc. (U.S.)


• Baxter (U.S.)


• Medtronic (Ireland)


• Stryker (U.S.)


• 3M (U.S.)


• Smith+Nephew (U.K.)


• B. Braun SE (Germany)


• Boston Scientific Corporation (U.S.)


• Frankenman International Ltd. (China)


• CooperSurgical Inc. (U.S.)


• Intuitive Surgical (U.S.)


• MANI, INC. (Japan)


• Artivion, Inc. (U.S.)


• CP Medical (Riverpoint Medical) (U.S.)


• CONMED Corporation (U.S.)


• Genesis Medtech (U.S.)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/wound-closure-market-102630

Key Industry Development

• March 2024 - Intuitive Surgical announced that its da Vinci 5, a next-generation multiport robotic system, bagged 510(k) clearance from the U.S. Food and Drug Administration (FDA).

Further Report Findings

• North America market secured the largest share in 2023 on account of the surging focus of market leaders on the launch of advanced products. The American Society for Metabolic and Bariatric Surgery 2022 data reported that 279,967 bariatric surgeries were carried out among the patient population.


• Asia Pacific market growth can be credited to the rising occurrence of diabetic foot ulcers and the expanding geriatric population. This is leading to an increase in the number of surgical procedures. The rising emphasis of prominent companies on research and development activities for introducing and releasing innovative products is also contributing to regional growth.


• On the basis of end-user, the hospitals & ASCs segment captured the largest wound closure market share in 2023, impelled by the availability of a large number of hospitals with favorable reimbursement policies and advanced healthcare facilities. For example, the American Hospital Association 2022 survey reported nearly 6,120 hospitals in the U.S.

Table of Segmentation