Diabetes foot ulcer is a significant contributor to mortality, morbidity, and disability in disaster patients. For example, chronic kidney diseases (CKD) and diabetic foot ulcers (DFU) and two big consequences of a diabetic mellitus (DM), based on a study published in Science Direct in December 2021. The same source estimated that between 19% and 34% of the diabetic mellitus patients will experience DFU at some point in their lives. Over the course of the projected period, it is estimated that the rising rates of diabetes and the related foot ulcers will drive the rise of the wound closure market. For instance, the American Diabetes Association’s research estimated that in February 2022, 37.3 million Americans, or 11.3% of the population, would have diabetes.
The global Wound Closure Market is estimated to be valued at US$ 1.84 billion in 2022 and is expected to exhibit a CAGR of 7.1% during the forecast period (2022-2030).
Leading Companies in the Wound Closure Industry:
1. 3M
3M is an America-based company that was established in the year 1929. It is a major player in the Wound Care industry. The company operates through five segments globally. In order to retain its share in the market, the company focuses on launching new and advanced products. Moreover, 3M Health Care's Medical Solutions Division announced, in October 2022, that it’s 3M V.A.C. Therapy negative pressure wound therapy (NPWT) surpassed a clinical evidence milestone of 2,000 published, peer-reviewed medical journal studies. V.A.C. This is the first and only NPWT solution to garner this number of published studies about its therapy.
2. Smith & Nephew
U.K.-based Smith & Nephew is a company that manufactures medical equipment. It was founded in 1856 with headquarters in London. The company provides advanced wound management products, arthroscopy products, trauma, and clinical therapy products, and orthopedic reconstruction products. It has operations in over 100 countries globally. In July 2022, Smith & Nephew launched a clinical support app, WOUND COMPASS◊ Clinical Support App, to help reduce practice variation in wound care.
3. Johnson & Johnson
Johnson & Johnson Services, Inc.is the largest and most broadly based healthcare company as it is present in more than 60 countries. It has headquarters in New Brunswick, NJ
4. Medtronic
Medtronic is a global healthcare technology leader which broadly deals in challenging healthcare problems with innovation that can transform. It has headquartered in Minneapolis, MN and serves across 150 countries.
5. Stryker
Stryker is one of the leading medical technology company started in 1941 by Dr. Stryker. The presence of company is in 75 plus countries worldwide. Its headquarters are located in Kalamazoo, MI. Stryker launched Citrefix™ a suture anchor system for foot and ankle surgical procedures in December 2022.
6. Mölnlycke Health Care AB
Mölnlycke Health Care AB offers solutions to customers in around 100 countries globally with operations in 40 of these. The company is headquartered in Sweden and was established in 1849. It provides medical products and solutions to healthcare professionals.
7. B. Braun Melsungen AG
The company was founded in 1839 and is world’s one of the leading medical technology company. B. Braun Melsungen AG is operational in more than 64 countries. In March, 2022 B. Braun acquired Intermedt Medizin & Technik GmbH, a specialist in the preparation of dialysis concentrates
8.Convatec, Inc.
It is a U.K.-based company with headquarters in Deeside. Established in 2008, the company develops, manufactures, and markets medical products and technologies worldwide. The company offers advanced wound dressings and skin care products for the management of chronic wounds resulting from various conditions such as diabetes, immobility, and venous disease as well as for a traumatic injuries, burns, invasive surgery, and other causes. It has 11 manufacturing sites in eight countries and operates in 100 countries globally.
9. Integra LifeSciences
Integra LifeSciences Holdings Corporation was incorporated in 1989 and is headquartered in Princeton, New Jersey. Integra LifeSciences Holdings Corporation develops, manufactures, and markets surgical implants and medical instruments for use in neurosurgery, extremity reconstruction, and general surgery. In December, 2022 Integra LifeSciences a leading global medical technology company, today announced it has successfully completed its acquisition of Surgical Innovation Association SIA
10. Cardinal Health
Since 1979 Cardinal Health, Inc. operates as an integrated healthcare services and products company. The company is headquartered in Dublin, Ohio. Cardinal Health in March, 2022 announced plans to build a 574,670 square foot medical distribution center in the Columbus, Ohio area.
*Definition- Wound is circumscribed injury caused by an external force, which involves injury to any tissue or organ.
