Wound Closure Product Market Analysis By Product, Applications, Demand, Market Size, Share and Future Opportunities 2018-2024

Global Wound Closure Product market report provides analysis for the period 2012 – 2024, wherein the period from 2018 -2024 is the forecast period and 2017 as base year. The market study projects an estimated market growth with a CAGR over 5.9% during 2018-2024 in terms of value. The aforementioned market growth is driven by a number of factors such as growth in aging population, increase in the number of surgeries and growing road accident cases. Moreover, increased burn cases across the globe and growing incidence of chronic wounds is also impacting the demand for the market.

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Global Wound Closure Product Market: Scope of the Report
On the basis of the type of the product, the market is segmented into Sutures, Hemostats, Surgical Staples and Adhesives & Tissue Sealants. The Sutures market is further bifurcated into absorbable and non-absorbable sutures. The Hemostats market is further sub-segmented into Thrombin-based, Oxidized regenerated cellulose-based, Combination, Gelatin-based, Collagen-based hemostats. The Adhesives & Tissue Sealants is segmented into Fibrin, Collagen-based, Cyanoacrylate-based, Synthetic polymer-based, Album & glut aldehyde-based sealants. Based on the application of the products, the market is categorized into Cardiovascular, General, Gynecological, Orthopedic, Ophthalmic surgeries. Finally, the report covers the analysis of these segments across North America, Europe, Asia-Pacific & RoW along with the qualitative analysis for market estimates that boosts the growth of the global wound closure product market during the forecast period.

The report also features the competitive benchmarking of key players, competitive analysis of the global wound closure product market that covers business overview, product & service offerings, new product launches and mergers & acquisitions.

As per the findings of the research, the sutures segment was the largest contributor to the global wound closure products market in 2017, and the hemostats market is estimated to witness the fastest growth during 2018-2024.

Global Wound Closure Product Market: Competitive Dynamics

Major industry players in wound closure product market are undergoing different strategic initiatives such as mergers and acquisitions and new product development. For example, In August 2016, Pfizer Inc. entered an agreement with AstraZeneca to acquire the development and commercialization rights to its late-stage small molecule anti-infective business outside the U.S. As per the agreement, AstraZeneca received an upfront payment of $550 million from Pfizer Inc. and a deferred payment of $175 million in January 2019. The acquisition has been made to expand Pfizer’s anti-invectives business.

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Global Wound Closure Product Market: Competitive Dynamics
The global wound closure product market is dominated by a number of players in the market, amongst them the major players are 3M Company, Medtronic plc., Smith and Nephew plc., CryoLife Inc., Johnson & Johnson, B.Braun Melsungen AG, Baxter International Inc., Derma Sciences Inc., DeRoyal Industries Inc., Pfizer Inc.

Global Wound Closure Product Market: Key Findings of the Report

According to BlueWeave Consulting, the key findings of the report “Global Wound closure product Market Size, Share, Development, Growth and Demand Forecast to 2024” are:

• North America led the global wound closure products market in 2017 and it is expected to grow with a CAGR over 6.6% during the anticipated period

• U.S. held the largest in the North America market in 2017 and it is expected to grow with a CAGR over 6.9% during the period 2018 – 2024

• Based on type, sutures generated the largest revenue in the global wound closure products market in 2017 and it is expected to exhibit the fastest growth during the expected period

• Cardiovascular surgeries segment was the largest application area of wound closure products in 2017 and it is expected to exhibit the fastest growth during the period 2018 – 2024.

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This release was published on openPR.