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Surgical Glue Market: Porter Analysis Identifies Competitive Forces Within The Market
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Cardiac surgery was the largest application area of surgical glue during the historical period and is estimated to account for more than 25.0% share in the global surgical glue market in 2017. The rising prevalence of cardiac-related diseases globally is contributing to the expansion of surgical glue market.
Plastic surgeries are increasingly gaining popularity owing to rising disposable income, increasing consumer awareness, and technological advancements in surgical procedures. Some of the dominant cosmetic procedures in 2016 were breast augmentation, liposuction, nose reshaping, eyelid surgery, and facelift. Similarly, the top five reconstruction procedures of 2016 were tumor removal, laceration repair, maxillofacial surgery, scar revision, and hand surgery. The abovementioned procedures are promoting surgical glue market expansion.
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People from developing and developed economies are spending hugely on healthcare services owing to the rise in health concerns and increase in disposable income. According to the Centers for Disease Control and Prevention (CDC), in 2015, total national health expenditure in the U.S. stood at $3.2 trillion and per capita national health expenditure was $9,990. As per the reports of the U.K. Office for National Statistics (ONS), the U.K.’s total healthcare expenditure was $282.8 billion in 2015.
Some of the major players operating in the global surgical glue industry are Advanced Medical Solutions Group PLC, B. Braun Melsungen AG, Baxter International Inc., C. R. Bard Inc., Cardinal Health Inc., Cohera Medical Inc., CryoLife Inc., Integra LifeSciences Holdings Corporation, Johnson & Johnson, Medtronic PLC, and Takeda Pharmaceutical Company Limited.
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