Global Suture Anchor Devices Market to Grow at Over 5% CAGR to Surpass US$ 875 Mn by 2027

The suture anchor devices market is poised to surpass US$ 875 Mn by 2027, growing at a CAGR of over 5% during the assessment period 2017-2027. The growth will be driven by a combination of factors according to a new research report titled “Suture Anchor Devices Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027” that has been added to the research repository of Market Research Reports Search Engine (MRRSE).

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According to the report, increasing participation in sports activities, combined with growing awareness on the benefits of orthopedic surgeries, and launch of bioabsorbable suturing devices are the key factors driving the growth of the market. Growing emphasis on providing quality healthcare services in developing countries is also providing support to the market at a broader level.

The growth in the medical tourism sector is also likely to provide an impetus to the market. Many countries in Asia Pacific have emerged as lucrative markets for medical tourism, and this has further led to an increase in demand for suture anchor devices. The move towards shifting outpatient orthopedic surgeries to ambulatory surgery centers is also contributing to the growth of the market.

In a bid to offer detailed insights and analysis on the suture anchor devices market, the report segments the market on the basis of product type, material type, and tying type. On the basis of product type, absorbable segment is likely to continue its dominance over non-absorbable suture anchor devices.

According to the report, various types of materials are used for making suture anchor devices, such as metal, PEEK, bio-composite, and bioabsorbable. The bio-composite material is used for manufacturing suture anchor devices on a large scale on account of their less interference in imaging and other areas.

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The report finds that demand for knotless suture anchors is higher than knotted suture anchor devices. The knotless suture anchors lead the market in terms of revenue, and the status quo is likely to remain unchanged during the assessment period.

By end use, ambulatory surgical centers remain the largest end-users of suture anchor devices market, and the trend is likely to continue throughout the forecast period. The ambulatory surgical centers market is likely to grow at over 7% CAGR through 2027.

Demand for suture anchor devices is robust in North America and APEJ, and these markets are likely to account for a significant revenue share of the market during the assessment period. Growth is also likely to remain steady in Europe.

The key players profiled in the research report include Parcus Medical, LLC., Teknimed SA, Zimmer Biomet Holdings, Inc., Smith & Nephew plc., Wright Medical Group N.V., Medtronic plc,ConMed Corporation, Arthrex, Inc., Johnson and Johnson (DePuy Synthes, Inc.), Stryker Corporation, MedShape, Inc., South America Implants S.A., Anstem Medical, Groupe Lepine S.A.

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This release was published on openPR.