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Surgical Suture Market Government Support for Healthcare Industry

07-21-2020 01:32 PM CET | Health & Medicine

Press release from: The Insight Partners

Surgical Suture

Surgical Suture

North America is the largest geographic market and it is expected to be the largest revenue generator during the forecast period. North American market is driven by the factors such as, increasing number of manufacturers as well as the large number of surgeries such as, knee replacement, hip/ joint replacement surgeries, plastic surgeries, cardiovascular surgeries and C section deliveries in the region.

The global surgical suture market accounted to US$ 2,954.5 Mn in 2017 and is expected to grow at a CAGR of 5.4% during the forecast period 2018 - 2025, to account to US$ 4,503.3 Mn by 2025.

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The global surgical suture market by product was led by absorbable sutures segment. In 2017, the absorbable sutures segment held a largest market share of 59.1% of the surgical suture market, by product. The segment is also expected to dominate the market during the year 2025, since manufacturers operating in the surgical sutures market are focusing towards developing new suture material, improving the strength of the thread, degradable property and minimally invasive forms of suturing devices.

There have been increase in the government support for the healthcare facilities and the infrastructure for the healthcare service centers are improved or up gradated with the advanced instruments, equipment and other products. For instance, for the growth of the surgical suture industry, the European Association of the Surgical Suture Industry (EASSI) serves as platform for discussing the information and setting specific regulations, standards and initiatives for healthcare sectors.

The surgical sutures market is highly fragmented due to the presence of various local as well as regional players. Some of the key players operating in the global surgical sutures market include, B. Braun Melsungen AG, Medtronic, Ethicon USA, LLC, Smith & Nephew, Atramat, Demetech Corporation, Sutures India, Péters Surgical, Teleflex Medical OEM, Serag-Wiessner GmbH & CO. KG among others.

The market for the surgical sutures is driven by the factors such as government support for healthcare industry, rise in the number of surgeries, rise in the number of the aesthetic surgeries and emphasis for medical tourism. Whereas, the market is restrained by the factors such development in the alternates of sutures and adoption of the robotic surgeries which are limiting the use of the human suturing. The market for the surgical sutures has opportunity to develop innovative products such as suture holders, suturing instruments that will be helpful for the suturing processes. The need of the suturing will lead to more developments that will allow surgeries to be non-invasive.

Medical tourism is one of the major driving factors propelling the growth of the surgical sutures market. Medical tourism is rising in North America and in Asia Pacific. Along with these region Middle East is focusing more on the development of medical tourism. The countries in these regions are offer best quality services in the low price. The patients travel to the countries due to the use of the sophisticated and advanced medical technology products, devices and equipment. Medical tourism is preferred in cases where surgeries, dental and medical care are provided at an affordable price. Thus, the medical tourism is leading to the growth of the surgical sutures in the forecasted period.

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The report segments the Global Surgical Sutures market as follows:

Global Surgical Sutures Market – By Product
Absorbable Sutures
Natural Sutures
Synthetic Sutures
Polydioxanone Sutures
Polyglactin 910 Sutures
Poliglecaprone 25 Sutures
Polyglycolic Acid Sutures
Others
Non-Absorbable Sutures
Prolene Sutures
Stainless Steel Sutures
Nylon Sutures
Others

Global Surgical Sutures Market – By Application
Cardiovascular Surgery
Gynecology Surgery
Ophthalmic Surgery
Orthopaedic Surgery
General Surgery
Others

Strategic Insights

Product launches and expansions were observed as the most adopted strategy in global surgical suture industry. Few of the launches and expansions made by the players in the market are listed below:

2018: In May, 2018, Telelfex launched advanced braiding technology that enabled the division of a suture into multiple end branches or integrate several ‘loops’ into the strand.

2017: In November, 2017, Teleflex, launched a new technology Force Fusion Suture, it is two-in-one construct transitions from round suture to a flat braid center segment and back to round suture. Which will allow more uniform distribution of pressure than similar suture.

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Email: sales@theinsightpartners.com

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Life Science, Technology, Healthcare, Manufacturing, Automotive and Defense, Food Beverages, Chemical etc.

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