“Global Wound Closure Strips Market to reach a market value of USD 354.5 Million by 2031 growing at a CAGR of 5.2%”
The Global Wound Closure Strips Market size is expected to reach $354.5 million by 2031, rising at a market growth of 5.2% CAGR during the forecast period.
Physician offices often serve as the first point of contact for patients with minor injuries, lacerations, or post-surgical follow-ups. Wound closure strips offer a quick, convenient, and cost-effective solution for physicians to manage these types of wounds, reducing the need for more invasive procedures. Their widespread use in these settings, coupled with the high volume of patients treated in physician offices, contributes to the strong performance of this segment in the market. Thus, the physician’s office segment recorded 12% revenue share in the wound closure strips market in 2023.
Trauma, which encompasses a wide range of injuries resulting from accidents, falls, and sports-related activities, is becoming more prevalent due to various lifestyle and environmental factors. Road accidents and industrial mishaps have risen sharply as populations grow and urbanize.
Additionally, patients undergoing MIS are often looking for not only effective treatment but also a quicker return to normal activities with minimal visible reminders of their surgery. Wound closure strips support these goals by promoting better cosmetic outcomes and faster healing.
However, the effectiveness of wound closure strips is largely determined by the type and severity of the wound, which inherently limits their applicability to certain scenarios. These strips work by gently pulling the edges of the wound together, allowing the skin to heal naturally while minimizing the risk of scarring and infection. However, this closure method is only effective when the wound is relatively uncomplicated, clean, and shallow.
Based on product type, the wound closure strips market is bifurcated into flexible and reinforced. The flexible segment garnered 63% revenue share in the wound closure strips market in 2023. Flexible wound closure strips are designed to provide strength and elasticity, allowing them to conform closely to the skin's contours.
The non-sterile segment recorded 21% revenue share in the wound closure strips market in 2023. Non-sterile wound closure strips are typically used in less critical situations, such as minor cuts and abrasions, or in first-aid scenarios where the risk of infection is lower.
By indication, the market is divided into surgical wounds and lacerations & minor cuts. The surgical wounds segment witnessed 66% revenue share in the market in 2023. Surgical wounds, resulting from procedures that require incisions, are typically larger and more complex, necessitating reliable and effective wound closure methods to promote healing and prevent complications such as infections.
On the basis of distribution channel, the market is divided into institutional sales and retail sales. The institutional sales segment witnessed 64% revenue share in the market in 2023. This segment encompasses the bulk purchasing and distributing of wound closure strips to healthcare institutions such as hospitals, clinics, and nursing homes.
Based on end-use, the market is segmented into hospitals, specialty clinics, home healthcare, physician’s office, nursing homes, and others. The hospitals segment procured 41% revenue share in the market in 2023. Hospitals are the primary setting for various medical procedures, including surgeries, emergency care, and trauma management, which often require wound closure strips.
Free Valuable Insights: Global Wound Closure Strips Market size to reach USD 354.5 Million by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe segment acquired 27% revenue share in the market in 2023. Germany, France, and the United Kingdom are among the countries in Europe that have a comprehensive healthcare system, and they are at the forefront of medical research and innovation.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 239.8 Million |
| Market size forecast in 2031 | USD 354.5 Million |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 5.2% from 2024 to 2031 |
| Number of Pages | 302 |
| Number of Tables | 520 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product Type, Sterility, Indication, Distribution Channel, End-use, Region |
| Country scope |
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| Companies Included | DeRoyal Industries, Inc., DermaRite Industries, LLC, 3M Company, Medline Industries, LP, Dynarex Corporation, Smith & Nephew plc, Aspen Surgical Products, Inc., Essity AB (BSN Medical), Aero Healthcare AU Pty Ltd. and Gentell |
By Product Type
By Sterility
By Indication
By Distribution Channel
By End-use
By Geography
This Market size is expected to reach $354.5 million by 2031.
Increase in trauma cases globally are driving the Market in coming years, however, Suitability for certain wounds only restraints the growth of the Market.
DeRoyal Industries, Inc., DermaRite Industries, LLC, 3M Company, Medline Industries, LP, Dynarex Corporation, Smith & Nephew plc, Aspen Surgical Products, Inc., Essity AB (BSN Medical), Aero Healthcare AU Pty Ltd. and Gentell
The expected CAGR of this Market is 5.2% from 2024 to 2031.
The Sterile market is leading the Market by Sterility in 2023; thereby, achieving a market value of $271.7 million by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $146.4 million by 2031.
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