Wound and tissue management devices treat wounds on the skin, dermal layers, and any adjacent subcutaneous tissues. Additionally, they manage devices used to manage trauma to tissue and blood vessels during surgery. Wound management devices are categorizes as those in which treat external wounds. On the other hand, dressings, compressions, and negative pressure therapies aid the body and its innate ability to heal skin, surgical, and chronic wounds. Furthermore, tissue management devices stop blood, close surgical incisions, and prevent the scarring of internal tissues. In summary, wound and tissue management devices are essential when it comes to individuals who lack a proper functioning circulatory system with a decrease ability to induce blood coagulation or inflammatory responses.
iData Research recently completed a detailed analysis on the U.S. market for wound and tissue management devices. The analysis includes an overview of the units sold, average selling prices (ASPs), COVID-19’s impact on the market, and most importantly an in-depth competitive analysis. Based on iData’s analysis, one company has been able to maintain the majority of the U.S. market share due to its strong presence and extensive product line. Which company is the U.S. market leader, Ethicon, 3M, or Medtronic?
U.S. WOUND AND TISSUE MANAGEMENT MARKET OVERVIEW
To summarize the market, the U.S. report on wound and tissue management devices includes wound closure devices, traditional, moist, antimicrobial and interactive wound dressings, non-adherent contact layers, surgical hemostats, tissue sealants, anti-adhesion, negative pressure wound therapy and static and dynamic compression therapy. In 2021, the value of the U.S. market surpassed $10.7 billion. Moving forwards, modest growth is expected over the forecast period as the projected market value in 2028 is expected to reach $13.8 billion. This impressive growth may make you wonder how the market is on course to reach just under $14 billion and it all comes down to the demographic structure of the population. As of 2021, 16.9% of the population is aged 65 or older with an increase to approximately 20% by 2028.
U.S. WOUND AND TISSUE MANAGEMENT DEVICE COMPETITIVE ANALYSIS
Through the acquisition of G. F. Merson Limited in 1947, Johnson & Johnson established a separate company under the name Ethicon Suture Laboratories in 1949, which was changed to Ethicon Inc. (Ethicon) in 1953. Today, Ethicon operates as a subsidiary of Johnson & Johnson and is a global medical manufacturer of surgical systems and instruments. When looking specifically at the U.S. wound and tissue management market, Ethicon has a wide array of products generally priced on the higher end of the market. However, the company’s portfolio offers a competitive advantage because it can bundle its well-known brand names with discounts.
3M was founded in 1902 and began as a corundum mining venture. It was named Minnesota Mining and Manufacturing Company from the time of its inception until 2002. 3M’s Health Care unit offers solutions that cater to the Bioprocessing, Drug Delivery Systems, Food Safety, Health Information Systems, Medical, Medical Device Components, Oral Care and Personal Health Care markets. In recent years, it has strengthened its position in the healthcare market through the acquisition of Acelity and its subsidiaries, adding to its existing portfolio of static compression and traditional and advanced wound dressings.
Medtronic is a global medical device company founded by Earl Bakken and Palmer Hermundslie in Minnesota in 1949. Today, it has more than 370 locations in 160 countries and more than 84,000 employees. Overall, the company is organized into four operating sections: Cardiovascular, Medical Surgical, Neuroscience as well as Diabetes Operating group. Medtronic only entered and began participating in the wound closure market in 2021. Since then, the company has captured a strong presence in the wound closure device market was due to its sutures, staplers, ligating clip appliers and cyanoacrylate-based tissue adhesives.
WHICH COMPANY LEADS?
Overall, the leading competitor in the U.S. wound and tissue management market is Ethicon. Ethicon was a market leader in sutures, stapling, ligation, skin adhesives and mesh and cyanoacrylate-based skin closure systems. Correspondingly, Ethicon was the market leader in the wound closure market. Beyond the wound closure market, Ethicon was the leader in the hemostat market. It also maintained a strong presence in the anti-adhesion and tissue sealant markets.
FURTHER INSIGHTS ON THE U.S. WOUND AND TISSUE MANAGEMENT DEVICE MARKET
iData’s U.S. report includes unit sales, average selling prices, market growth, drivers and limiters, and a complete competitive analysis. Follow the link below to read more about the U.S. wound and tissue management market.