The global surgical incision closures market is expected to exceed $9 billion by 2017, according to a new report by Global Industry Analysts Inc. The market is expected to continue its steady growth, largely backed by a rise in surgical procedures including endoscopy, cardiovascular, orthopedic and laparoscopy, especially in developing countries. The development of innovative closures is also expected to propel growth in the market.
The surgical incision closures segment has significant importance, due to the millions of surgical procedures performed every year. Surgical disciplines such as cardiology, obstetrics/gynecology, ophthalmology, orthopedics and plastic surgery have highly specific requirements for different closure products.
Next-generation wound-closure technologies, such as tissue sealants, hemostats, adhesives and adhesion-prevention products, are anticipated to generate attractive business opportunities due to the safety provided by these wound-closure products. The products can offer an efficient wound healing mechanism and can minimize the risk of post-surgical complications. Innovations in tissue sealants offer dynamic opportunities as well. The trend toward minimally invasive surgery is among the most significant factors affecting the market. Minimally invasive surgery, typically associated with smaller incision sites, has exerted a deep impact on the need for general or specialized surgeries, transforming the market dynamics for all types of wound closures.
The U.S. and Europe collectively account for a major share of the sales in the global surgical incision closures market, according to the report. Rising income levels and growing affordability of surgeries are also contributing to the increased demand for products used for surgical incision closures. Improved economic conditions in developing countries, in particular, are likely to increase the number of surgeries performed in these countries.
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Global Surgical Incision Closures Market to Exceed $9 Billion by 2017
November 17, 2011