Global Surgical Sutures Market: Based on Raw Material (Natural, Synthetic), Based on Application (Burns, Skin Ulcers, Surgical Wounds, Others), Based on end user (Hospitals, Ambulatory Surgical Centers, Others) and Geography – Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global surgical sutures market was valued at US $ XX Mn and expected to grow at 4.45% Compound Annual Growth Rate (CAGR) over the 2018 to 2024.
Market Outline: Surgical Sutures Market
Surgical sutures are the medical devices which are used to hold the body tissue together after any surgery or injury. The surgical sutures generally involve a needle attached with the thread. Surgical sutures may be absorbable or non-absorbable. Absorbable sutures will breakdown automatically after the few days and absorbed into the body tissue without intervention. Whereas non-absorbable sutures has to be removed manually and not left indefinitely. These surgical sutures may be made up of various type of material including non-synthetic materials such as silk and catgut etc.
Market Dynamics: Surgical Sutures Market
Global surgical sutures market is primarily driven by the increase in the number of surgical procedures worldwide and inclination in number of accidents. In addition, favorable reimbursement policies and well establishment of healthcare infrastructure in developed countries projected to boost the market share. Moreover, rise in popularity of cosmetic surgeries in middle and low income countries and ageing population around the world expected to bolster the market over the forecast period. Furthermore, rise in prevalence of the diseases related to skin, trauma, cardiovascular and soft tissue projected to augment the market share. However, increase in preference towards minimally invasive surgeries and alternative treatment options for the wound care expected to hamper the market growth during the forecast period.
Market Scope: Surgical Sutures Market
Global surgical sutures market is segmented based on the raw material, application and end user
Based on Raw Material, market is segmented into the following:
Based on Application, market is segmented into the following:
- Skin Ulcers
- Surgical Wounds
Based on end user, market is segmented into the following:
- Ambulatory Surgical Centers
Market Summary: Surgical Sutures Market
Global surgical sutures market is highly consolidated due to the presence of several domestic players in emerging counters. Market players are focusing on developing the new devices to advance the suturing technologies. Furthermore focusing on new product launches and market expansions to boost their market share. For instance, in August 2017, Ethicon has launched ProxiSure Suturing Device featuring ethicon endomechanical, suture, and curved needle technologies. Companies also focusing on the acquisitions and mergers to strengthen their position in the market.
Regional Analysis: Surgical Sutures Market
Geographically, global surgical sutures market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America surgical sutures market expected to have the significant growth over the forecast period owing to the factors such as well-established healthcare infrastructure, rise in number of accidents and trauma cases. Asia Pacific surgical sutures market is expected to have rapid growth are owing to the developing healthcare infrastructure and increase in medical tourism in countries such as India and China due to the less healthcare costs. Europe surgical sutures market is expected to have the notable growth rate over the forecast period due to the increase in disposable income and presence of key market players in the region. Latin America surgical sutures market projected to have considerable growth rate owing to favorable reimbursement policies and increase in healthcare expenditure by populace.
Some of the players in the global surgical sutures market include:
- Braun Melsungen AG (Germany)
- Ethicon Inc. (U.S.)
- Medtronic plc (Ireland)
- DemeTECH Corporation (U.S.)
- Sutures India Pvt. Ltd. (India)
- Internacional Farmaceutica, S.A. de C.V. (Mexico)
- Smith & Nephew plc (U.K.)
- Péters Surgical (France)
- Boston Scientific Corporation (U.S.)
- EndoEvolution, LLC (U.S.)
- Surgical Specialties Corporation (U.S.)
- In January 2016, Surgical Specialties Corporation has acquired all shares of FSSB Chirurgische Nadein GMBH (FSSB) and affiliated entities to strengthen its market position