The Global Surgical Sutures Market is expected to rise at a CAGR of 6.0% between 2017 and 2025 owing to increasing number of surgical procedures. The above information was shared by Fortune Business Insights in a report, titled “Merkel Cell Carcinoma Therapeutics Market Size, Share and Global Trend By Therapy (Chemotherapy, Immunotherapy, Combination Therapy, Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), and Geography Forecast till 2026.”
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Some of the other players operating on the market are:
- CP Medical,
- Coloplast Corporation,
- Molnlycke Healthcare,
- Demetech Corporation,
- BSN Medical,
- Internacional Farmacéutica,
- Boston Scientific Corporation,
- Apollo Endosurgery, Inc.
Companies are Focussing Development of Smart and Advanced Surgical Sutures by 2026
Surgical suture kits are used in different applications which include gynaecology, orthopaedics, cardiology, general surgery, and ophthalmology. Among these, orthopaedics is witnessing the highest demand for surgical suture thread and other materials. The segment is likely to lead in the forecast years owing to the rising incidence of orthopaedic injuries among different age groups. Several orthopaedic companies have developed technologically-enabled joint implants and replacements, which is driving the segment’s growth. Spurred by this segment, the surgical sutures market revenue is expected to reach new heights in the forthcoming years.
Presently., the landscape of the global surgical sutures market is fragmented owing to the presence of medium and small-scale manufacturers. The market is hot with the presence of some leading players which include Braun Melsungen AG, Smith & Nephew plc, and Ethicon. Smith & Nephew plc was enjoying a higher market position in the year 2015. This was attributable to the launch of advanced surgical suture lines and high-strength polyethylene called SUTUREFIX and ULTRABRAID respectively. Rising favourable reimbursement healthcare policies regarding invasive surgical procedures is another factor responsible for the emergence of regional and local players. Now, several companies are planning to develop smart and advanced smart surgical sutures to stay ahead of competition.
Presence of Key Players Contributes to the Growth of the Market in North America
Some of the key surgical sutures manufacturers in the U.S. have introduced multifilament and braided surgical sutures. The strategic presence of these companies is expected to create attractive growth opportunities for the market in North America. In 2017, the market was leading in north America and was worth US$ 1,489.6 Mn. The increasing prevalence of cardiovascular diseases in this region, especially in Canada and the U.S. leads to rising number of surgeries. This, in turn, is expected to stoke demand for surgical sutures.
Following North America, Europe is the second-leading region in the global surgical sutures market. Not only Europe, Asia Pacific is also expected to register high growth in the forecast years owing to improving healthcare facilities. Better healthcare reimbursement policies are likely to boost the market in this region. The medical tourism industry is flourishing owing to the low treatment cost and rapidly changing lifestyle. This is another factor favouring growth in the market.
By Product Type
- General Surgery
By End User
- Ambulatory Surgery Centers
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (GCC, South Africa, Rest of the Middle East & Africa)
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