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Description
Surgical Sutures Market size was valued at USD 3,632.1 million in 2021 and is expected to grow at a CAGR of 6.3% during the forecast period 2022 to 2028. The global market provides a detailed overview and which can be segmented by product type, material, application, end-user, and region. By product type, the surgical sutures market has been segmented into absorbable and non-absorbable. The absorbable segment held the largest revenue share of 55.0% in 2021 attributed to various features such as its ability to provide temporary support to wounds till it heals and can withstand normal stress. Furthermore, the demand for absorbable sutures is continuously increasing, resulting expanding the surgical sutures market. Furthermore, with the presence of various key players in the market are making investments in R&D activities, which is further anticipated to boost the absorbable segment grow in the future. By material, the Surgical Sutures market has been segmented into monofilament suture and multifilament suture. Based on the material, the multifilament suture segment accounted for the largest share of 67.5% of the surgical suture market. owing to the rise in the number of complex surgeries, the rising geriatric population, and favorable reimbursement policies for hospital treatments. By application, the surgical sutures market has been segmented into gynecological surgeries, orthopedic surgeries, cardiovascular surgeries, general surgeries, ophthalmic surgeries, and other surgeries. By application, the gynecological surgeries segment is expected to have the fastest growth rate over the forecasted period due to the high demand for gynecological surgeries among women globally. Based on the end user, the segment has been segregated into hospitals, clinics, and others. Among these, the hospitals segment accounted for the largest surgical suture market share of 74.7% in 2020 attributed to a rise in the number of complex surgeries performed in hospitals, the growing geriatric population, and favorable reimbursement policies for hospital treatments, and the increase in the number of new hospitals, especially in emerging economies.
Key Development:
In Sept 2020, Smith & Nephew (UK) launched NOVOSTITCH PRO Meniscal Repair System-an automated suturing device.
