BusinessMedical DevicesMedical InnovationsPublic HealthTechnology

Rising, Fading Technologies in the Global Market for Wound Closure

1 Mins read

Technologies emerge, gain clinical acceptance, grow in caseload and become the standard of care. Then new technologies emerge, developed to improve on or eclipse established technologies. They gain acceptance and the cycle continues.

Technologies emerge, gain clinical acceptance, grow in caseload and become the standard of care. Then new technologies emerge, developed to improve on or eclipse established technologies. They gain acceptance and the cycle continues.

The pace of technology and market development in the products used in wound closure — sealants, glues, hemostats, sutures/staples, tape, and vascular closure devices — follow this path as characteristically as any medtech market. However, the pace of adoption varies both by technology type and geographic location. Consequently, there is a pretty wide range of compound annual growth rates in the sales of these product globally, regionally and by country.

Below illustrates the highest growth segment-geography combinations in the wound closure market. This frequently illustrates that novel technologies more rapidly penetrate well developed economies, which can sustain the initial high premium pricing of novel technologies, then progressively migrate to less well developed economies.  (For the sake of direct comparison, the high and low growth graphics are shown on the same scale.)

High Growth Segment-Geographies in Wound Closure

wound closure graphSource: MedMarket Diligence, LLC; Report #S192.

Low Growth Segment-Geographies in Wound Closure

global technology wound closureSource: MedMarket Diligence, LLC; Report #S192.

Avatar
183 posts

About author
I serve the interests of medical technology company decision-makers, venture-capitalists, and others with interests in medtech producing worldwide analyses of medical technology markets for my audience of mostly medical technology companies (but also rapidly growing audience of biotech, VC, and other healthcare decision-makers). I have a small staff and go to my industry insiders (or find new ones as needed) to produce detailed, reality-grounded analyses of current and potential markets and opportunities. I am principally interested in those core clinical applications served by medical devices, which are expanding to include biomaterials, drug-device hybrids and other non-device technologies either competing head-on with devices or being integrated with devices in product development. The effort and pain of making every analysis global in scope is rewarded by my audience's loyalty, since in the vast majority of cases they too have global scope in their businesses. Specialties: Business analysis through syndicated reports, and select custom engagements, on medical technology applications and markets in general/abdominal/thoracic surgery, interventional cardiology, cardiothoracic surgery, patient monitoring/management, wound management, cell therapy, tissue engineering, gene therapy, nanotechnology, and others.
Articles
Related posts
eHealthTechnology

How RFID Solutions Can Improve Patient and Doctors Experience

4 Mins read
The request for RFID implementation becomes more and more popular in custom healthcare software development. Radio-frequency identification is a relatively simple technology…
Covid-19Public Health

How Will the Supply Chain Support Vaccine Distribution?

3 Mins read
A few different options for the COVID-19 vaccine are already being distributed across the United States (and the globe), and considering the…
Health careHospital AdministrationMedical RecordsTechnology

How the Pharmacy Management System Helped The Healthcare Industry?

4 Mins read
The technology aims to make the ongoing process a lot simpler and easier. Tech has successfully entered most of the sectors. It…