Surgical Sutures Market to Reach USD 6.45 Billion by 2027 Owing to Increasing Number of Surgeries Worldwide, says Fortune Business Insights

global surgical sutures market


Surgical sutures are a type of medical devices that are adopted to treat open wounds of the surgical site. They are available in absorbable and non-absorbable products that cater the required surgical procedures. These devices have a lesser rate of adverse reaction and malfunction when compared to advanced devices such as staplers that propel the demand for the products across several healthcare services.

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What does the Report Include?

The market report includes a detailed assessment of various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive research into the regional developments of the market, affecting its growth during the forecast period.

It includes information sourced from the advice of expert professionals from the industry by our research analysts using several research methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2020 and 2027.

Declining Number of Surgeries amid COVID-19 to Hinder Growth


The healthcare professionals and services are totally concentrating on containing the spread of the novel coronavirus. This has resulted in remarkable reduction in surgeries across the globe. Additionally, several hospitals have focused on treating COVID-19 patients and temporarily closed the surgical operations that are hampering the market growth. However, adhering to the government protocols and resuming hospitals operations partially is expected to favor the growth of the market in the forthcoming years.


Click here to get the short-term and long-term impact of COVID-19 on this Market.

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DRIVING FACTORS

Increasing Number of Surgeries to Bolster Growth

According to the World Health Organization (WHO), about 234.2 million surgeries are performed across the globe every year. The increasing number of bariatric and cosmetic surgeries is driving the demand for these sutures. Additionally, the high prevalence of chronic diseases that require surgical intervention is expected to propel the demand for sutures across the globe. The companies are further focusing on developing advanced surgical sutures owing to the growing geriatric population that is anticipated to contribute to the growth of the global surgical sutures market during the forecast period.

SEGMENTATION

Absorbable Segment Held a Major Market Share in 2019

The absorbable segment, based on product, held a major market share in 2019 and is expected to dominate owing to the relatively lower operation costs when adopting this suture.

REGIONAL INSIGHTS

North America to Remain at the Forefront; Increasing Adoption of Innovative Products to Spur Demand

Among all the regions, North America is expected to hold the highest position in the global market. The region stood at USD 1.67 billion in 2019 and is anticipated to grow further owing to the increasing preference of key players to develop innovative surgical sutures in the region.

The market in Asia-Pacific is anticipated to showcase an exponential growth owing to the increasing orthopedic surgeries in countries such as India and China that propels the demand for sutures between 2020 and 2027.

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COMPETITIVE LANDSCAPE

Major Companies Focus on Acquisition to Strengthen Their Positions and Maintain Dominance

The global surgical sutures market is fragmented into both domestic and international players that are striving to maintain their presence and consolidate their positions. They are doing so by focusing on acquiring other companies and further boost their surgical sutures product portfolio. The other key players are adopting strategies such as partnership, the introduction of new products, and collaboration that will favor the market growth in the forthcoming years.

Industry Development:

December 2019 –

List of the Companies Operating in the Global Surgical Sutures Market:

· Smith & Nephew

· Boston Scientific Corporation

· Atramat

· Demetech Corporation

· CP Medical

· Coloplast Corporation

· BSN Medical

· Apollo Endosurgery, Inc.

· Molnlycke Healthcare

· Other prominent players


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Table of Contents:

Introduction

Research Scope

Market Segmentation

Research Methodology

Definitions and Assumptions


Executive Summary

Market Dynamics

Market Drivers

Market Restraints

Market Opportunities


Key Insights

An overview of a number of major surgical procedures by key countries

Recent industry developments such as mergers & acquisitions

Regulatory scenario for key countries

Key industry trends

Reimbursement scenario by key countries


Global Surgical Sutures Market Analysis, Insights and Forecast, 2016-2027

Key Findings / Summary

Market Analysis, Insights and Forecast – By Product Type

Absorbable

Non-absorbable


Market Analysis, Insights and Forecast – By Form

Natural

Synthetic


Market Analysis, Insights and Forecast – By Application

Gynecology

Orthopedics

Cardiology

Ophthalmic

General Surgery


Market Analysis, Insights and Forecast – By Distribution Channel

Hospital

Ambulatory Surgery Centers

Clinics

Others


Market Analysis, Insights and Forecast – By Country

North America

Europe

Asia pacific

Latin America

Middle East & Africa





TOC Continued….!


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