Research Nester released a report titled “Surgical Sutures Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global surgical sutures market in terms of market segmentation by product, by material, by application, by distribution channel, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Surgical sutures are used for closing the wounds or surgical incisions after a surgical procedure. In this procedure, a length of thread-like material is attached to a needle in order to stitch the tissues together. The market for surgical sutures is anticipated to grow at a CAGR of 3.75% over the forecast period, i.e., 2020-2027. The market is segmented by product, by material, by application, by distribution channel, by end user and by region. On the basis of product, the market is segmented into absorbable and non-absorbable sutures, out of which, the absorbable sutures segment is anticipated to contribute a larger market share. This can be credited to the growing demand for absorbable sutures by surgeons as well as patients since these sutures heal faster and leave lesser traces of scars.
In the year 2018, the market in North America comprised of a share of 35.28% and is anticipated to hold the leading share in the market during the forecast period. This can be attributed to the rising investments in the healthcare industry by government and private institutions for improving the healthcare services and facilities in the region. The market in the U.S. is projected to grow at a CAGR of 3.98% in the upcoming years owing to increasing adoption of advanced treatment methods that are focused on minimally invasive surgeries.
Rising Demand for Innovative Surgical Methods to Drive the Market Growth
The growing innovations in surgical procedures in countries such as the U.S., Germany, U.K. and others result in an increased demand for medical products including surgical sutures which is anticipated to boost the market growth. Similarly, advancements in the healthcare industry leading to the development of better treatment techniques is another factor estimated to raise the demand as well as the market growth. However, the lack of advancements in surgical sutures and the presence of substitute products such as surgical staplers are some factors estimated to hamper the growth of surgical sutures market globally.
This report also provides the existing competitive scenario of some of the key players of the global surgical sutures market which includes company profiling of Johnson & Johnson (NYSE: JNJ), B. Braun Melsungen AG, Medtronic Inc. (NYSE: MDT), Conmed Corporation (NASDAQ: CNMD), DemeTECH Corporation, MANI, Inc. (TYO: 7730), Teleflex Incorporated (NYSE: TFX) and Dolphin Sutures. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global surgical sutures market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.