Pune, July 16, 2019 (GLOBE NEWSWIRE) -- The global Surgical Sutures Market is expected to rise at a CAGR of 6.0% between 2017 and 2025 majorly owing to the rising number of surgical procedures. Fortune Business Insights in a report, titled “Surgical Sutures Market: Global Market Analysis, Insights and Forecast, 2018-2025” provides valuable information on the factors enabling growth in the market. The demand for surgical sutures is increasing as they help to heal the damaged tissue faster. Moreover, surgical sutures play a significant role in the wound healing process. These sutures have the ability to ligate the blood vessels together to aid healing of damaged tissues.
As per the report by Fortune Business Insights, the global market for surgical sutures was valued at US$ 3,750.9 Mn in 2017 and is anticipated to reach US$ 5,982.9 Mn by 2025. Different types of surgical sutures are used depending on the location of lesions and thickness of the skin.
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Rising Adoption of Medical Technologies in Asia Pacific Encourages Growth in the Market
Among regions, North America covered a revenue of US$ 1,489.6 Mn in the year 2017 and dominated the global Surgical Sutures Market. Presence of leading manufacturers for sutures in the U.S. is the primary factor driving the market in this region. Also, the U.S. and Canada witnesses rising number of cardiovascular surgeries mainly attributable to the increasing prevalence of cardiovascular diseases in North America. This, in turn, is expected to register growth opportunities for the market in North America during the forecast years. Besides North America, Europe is the second-most leading region as per revenue in the global market.
The market in Asia Pacific is anticipated to witness high demand for surgical sutures during the forecast duration. This is attributable to the rising geriatric population and better healthcare reimbursement policies. In addition to this, rising healthcare awareness and disposable income are positively impacting the growth of the market in this region.
Favorable Government Regulations to Propel Growth in the Market
The rising prevalence of cardiovascular disorders is intended to fuel demand for wound closure devices. This, as a result, is expected to drive the Surgical Sutures Market in the coming years. Moreover, rising number of orthopedic, gynecological, and others surgeries can set tone for significant impetus to the market’s growth. The rising demand for wound closure devices in developing and developed countries is expected to boost the market by 2025.
“Technological advancements and innovations in surgical suture material are expected to heal wounds even faster,” said a lead analyst at Fortune Business Insights. “This will further reduce the risk of wound infection, enabling growth in the market,” he added.
Favorable policies and regulations by governments in developing countries is contributing to the growth of the market. Recent approvals on novel surgical sutures is encouraging companies to develop new surgical suture devices. This will further help companies to upgrade the wound healing process in the long run.
Contrary to this, shift towards minimally-invasive surgeries especially in developed countries may restrict the market’s growth. Another factor restricting the Surgical Sutures Market is the availability of alternatives for surgical wound products.
Launch of Innovative Products by Smith & Nephew Aids Expansion
Medium and small-scale regional players are expected to pave their way in the global Surgical Sutures Market. This is what makes the vendor landscape of the global market fragmented. Some of the major companies operating in the global market are CP Medical, B. Braun Melsungen AG, Coloplast Corporation, Molnlycke Healthcare, BSN Medical, Demetech Corporation, Ethicon, Apollo Endosurgery, Inc., and Boston Scientific Corporation.
In 2015, Smith & Nephew managed to position the company at a higher level. This was supported by the launch of innovative surgical suture products such as high-strength polyethylene ULTRABRAID and surgical suture lines SUTUREFIX. Then in 2017, Ethicon, B. Braun Melsungen AG, together with Smith & Nephew covered a major share in the global market. Some of the other developments initiated by companies are:
Key companies covered in the report
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