Albany, NY, July 03, 2018 (GLOBE NEWSWIRE) -- According to Transparency Market Research, the global surgical sutures market of 3.9% within the forecast period from 2017 to 2027. The market is expected to grow around worth of US$5,080.1 mn within the forecast period.
Based on products, the global sutures market is bifurcated into non-absorbable sutures and absorbable sutures. Among these, in 2016, the absorbable suture segment accounted for the dominant position, with around 60% of overall market share and is likely to dominate in the upcoming years, as well. The factors such as low risk of wound contamination, have made absorbable sutures adoptable among consumers, and hence surges the demand in the global market. Geographically, North America led the global market, in 2016, with around 35% of market share. This is due to rise in prevalence of heart-related disorders, and increased number of surgeries are some of the drivers fuelling the North America market for surgical suture.
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Rising Cases of Surgical Methods to Influence Market Growth
The growing demand for surgical sutures all over the world is mainly attributed to the rise in geriatric population, rise in cases of surgical techniques, increased ability to spend on health services and recovery facilities, and rise in disposable income. Advancement in technology and innovation propels the improvement of suture materials that are apt for improved wound healing time and hospital stay, which, in turn, increase the value of the last after-effect of the surgeries, are therefore additionally boosting the growth of surgical sutures all over the world.
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Incidences of Chronic Illnesses to Surge Demand for Surgical Sutures Market
Various factors for example, the busy lifestyle, environmental problems, smoking, drinking, and undisciplined eating habits, are anticipated to lead to several chronic illnesses. This is likely to surge the number of surgical procedures, supporting the market growth.
The global market for surgical sutures consist of consolidated and combined market scenario, along with 5 key firms accounting for over 65% of the entire market, back in the 2015, says Transparency Market Research (TMR) in its recent research report. The market seems to be impacted by rise in price competition due to rise in various regional players making an offer of products at lesser price. These companies, for example Medela AG, Cardinal Health, Integra LifeSciences Corporation, Smith and Nephew plc, and Acelity L.P. Inc. lead the global surgical sutures market. They have a wide range of varied products and innovation, along with healthy relations with the consumers.
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Some of the key palayers in the global market are Integra LifeSciences Corp., Teleflex Inc., Medtronic Plc, B. Braun Melsungen AG, Smith & Nephew Plc, Acelity L.P. Inc., Johnson & Johnson, Zimmer Biomet Holdings Inc., Boston Scientific Corp., and ConMed Corp. The firms are focusing on the advancement in the suture-assist devices and in-suture materials.
Key Takeaways:
1. The growing demand for surgical sutures all over the world is mainly attributed to the rise in geriatric population.
2. Advancement in technology and innovation propels the improvement of suture materials is also fueling the growth of surgical sutures market.
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