The skin breakdown with ulcers and chronic wound formation is one of the common clinical problem, as the geriatric population are more prone to the wound and ulcers. Rising number of surgical procedures among aged population are expected to have increased potential for wound complications. According to the data published in the National Center for Biotechnology Information (NCBI) in November 2016, in U.S. chronic wounds are reported to affect 6.5 million patients with approximately US$ 25 billion expenditure annually by healthcare system on wound related complications.
Wound closure market was valued at US$ 2.3 billion in 2017 and is projected to expand at a CAGR of 7.1% during the forecast period (2017 – 2025), as highlighted in a new report published by Coherent Market Insights. Increasing number of geriatric population, rise in the prevalence of chronic wounds, venous ulcers, diabetes ulcers, and pressure ulcers, owing to the increased cases of lifestyle disease, accidents, and casualties are expected to be major driving factor for the wound closure market growth during the forecast period.
The global wound closure market is expected to expand due to the rising prevalence of chronic wounds and emergence of technically advanced wound closure products.
Among product type, wound dressings …