Global Surgical Sutures Market: Snapshot
The global market for surgical sutures is reporting a steady rise in its valuation and is expected to continue doing so over the next few years. The significant rise in the prevalence of medical conditions related to breast, skin, soft tissues, peripheral vascular surgery, trauma, and hernias is the key factor behind the growth of this market. Apart from this, the continual increase in geriatric population and the rising number of musculoskeletal diseases are also projected to drive the global market over the forthcoming years. The global market is anticipated to rise at a CAGR of 3.90% during the period from 2017 to 2025.
Absorbable Sutures to Continue to Report Strong Demand
Absorbable sutures and non-absorbable sutures are the two main product categories present in the global market for surgical sutures. Among the two, the absorbable suture segment held the leading position in 2016, with a share of almost 60% and is projected to continue doing so over the forthcoming years. The benefits, such as low risk and lowered risk of wound infection, have made absorbable sutures highly popular among consumers, which is reflecting greatly on their demand.
In instances where long-term support is needed, non-absorbable sutures are required. They majorly find usage in specialty fields, such as cardiovascular surgeries. The high risk of side-effects, caused by some materials used in non-absorbable sutures limits its uptake to some extent. However, these sutures are likely to be utilized extensively in specialized applications in the years to come.
North America to Continue to Lead
Geographically, the worldwide market for surgical sutures reports its presence mainly across North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. In 2016, North America dominated the global market, with a share of nearly 35%. The regional market is anticipated to remain dominant over the next few years. The increased prevalence of cardiovascular disorders, rising number of surgeries, and augmenting demand for advanced treatment procedures are boosting the North America market for surgical suture, significantly.
Among other regional markets, Asia Pacific is anticipated to report a steady rise in its market for surgical suture, thanks to the continual surge in the awareness level among consumers, boom in medical tourism industry, owing to the low cost of treatment, and the massive increase in the prevalence of lifestyle diseases. The rising incidence of medical conditions related to stomach, esophagus, small bowel, pancreas, bile ducts, gallbladder, liver, colon, and the thyroid gland are also projected to boost the Asia Pacific market for surgical sutures.
Currently, the global surgical suture market demonstrates a highly consolidated vendor landscape. However, with the emergence of a number of domestic players in developing economies, it may move towards fragmentation in the years to come. Some of the leading vendors of surgical sutures are Teleflex Inc., Integra LifeSciences Corp., Medtronic Plc, B. Braun Melsungen AG, Acelity L.P. Inc., Smith & Nephew Plc, Johnson & Johnson, Boston Scientific Corp., Zimmer Biomet Holdings Inc., and ConMed Corp.
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