The wound closure products market will reach a value of USD 10,148.7 million by 2030, powering at a rate of 5% by 2030. This is because of the increasing elderly populace, increasing prevalence of diabetes, mounting healthcare spending, and tech advancements.
Furthermore, the increase in the volume of surgical procedures as a result of the growing chronic ailment and cases of road accident powers the industry growth.
Homecare settings will grow the fastest in the future, at a rate of about 6%. This has a lot to do with the growing elderly population worldwide, growing acceptance of home healthcare services, and rising use of easy-to-use products.
Furthermore, patients grieved with accidental wounds and diabetic foot ulcers frequently necessitate lengthy hospitalization, both costly and difficult for elderly people. This produces a high requirement for wound closure products, conveniently employed in homecare.
APAC will have the fastest growth in the future, with a rate of about 7%. This has a lot to do with the increasing elderly populace, growing count of surgeries, increasing road accidents, and growing occurrence of burns.
Furthermore, the increasing research and development activities and high investment done by governments and the major players of the industry powers the growth of the industry.
The elderly people are much more susceptible to wounds, and with the increasing population of the same will impact the demand for wound closure products in a positive way, all over the world.