Wound Closure Device Market Outlook, Opportunities, Challenges, Trends, Size and Growth, Competitive Analysis, Major Competitors and Porter Analysis

The growing need for reducing surgical expenditure has led to increasing demand for products that are able to improve the therapeutic outcome, and decrease the hospital stay tenure, which is majorly responsible for driving the growth of the global wound closure device market.

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Cosmetic surgery is becoming more popular among the youngsters, and is also the fastest growing type of surgical procedure. Tissue sealants and hemostats are the preferred wound closure techniques for cosmetic surgery, as it ensures a positive aesthetic outcome, offering not only rapid hemostasis, but also reduces the chances of scarring or surgical site infections, as compared to the conventional wound closure devices.

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The geographical divisions of the global wound closure devices market include North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America dominates the global market, owing to the presence of consumer base for knee replacement surgeries, spinal fusions, aesthetic surgeries, and hip replacement surgeries. In Asia-Pacific, the countries of the region are incapable of managing the huge inflow of patients in hospitals, which is increasing the demand for advanced wound closure devices, to facilitate faster wound closure and early discharge of existing patients.

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The major companies operating in the global wound closure device market include BSN medical, Baxter International, Teleflex Medical, Abbott Vascular, NeatStitch Ltd., Derma Sciences, and Ethicon Inc. (Johnson & Johnson).

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