Wound closure has become a hotbed of company activity, driven by the number of clinical applications, technology innovation and the relatively low barrier to market entry. While a number of companies are active in multiple product areas spanning fibrin and other surgical sealants, hemostats and high strength glues and adhesives, there are many companies with single product (or product type) offerings.
The number of active products and companies is also very fluid, with forces driving an aggressive and steady rate of product development and market introduction. Forces underlying this pace include:
- New products can be readily developed based on sometimes only minimal variation from existing products
- Surgeons and other clinical practitioners are ready adopters of new products with potential to optimize wound healing, their practices or both
- Initial reluctance toward sealants, glues and hemostats, particularly blood-derived products has abated and now generates little counter force to market growth
Below is illustrated the resulting number of active product types by company:
Source: MedMarket Diligence Report #S180, "Worldwide Surgical Sealants, Glues, Wound Closure and Anti-Adhesion Markets, 2008-2015."
Below is illustrated the number of active companies by product type:
Source: Report #S180.