Surgical Sutures Market Industry Booming Demand by Top Regions and Major Segments Till 2022
Sutures, commonly known as stitches, are surgical threads that are used to close cuts of a wound so that healing occurs swiftly and avoids infection of an open wound. According to Market Research Future (MRFR), the market for the Middle East and Africa surgical sutures market is likely to reach around USD 576.3 million, by the end of the forecast period by 2022, growing at a moderate CAGR of 5%. The driving factors of the market are the increasing frequency of accidents, increasing expenditure on healthcare, which consequently leads to a rise in demand of sutures, the growing popularity of cosmetic surgeries and development of advanced sutures such as film-coated sutures. The hindering factors that are expected to affect the market over the forecast period are the increasing inclination towards minimally invasive surgical procedures and the presence of alternative wound care products.
Technological advancement is the growing focus of the key market players to introduce innovative, environmentally friendly products to raise the demand. Another vital development that has amplified the demand for surgical sutures has been the introduction of anti-microbial film coated sutures which provide additional protection against infection. The latest technological advancement has been the introduction of the automated suturing device.
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Surgical Sutures Market Key Players
Major influencers of the MEA surgical sutures market, as per the report of MRFR, are
- Braun Melsungen AG
- Ethicon Inc.
- Sutures India Pvt. Ltd.
- Dolphin Sutures
- Medtronic plc.
- DemeTECH Corporation
- Internacional Farmaceutica
The market is hugely uneven as there is a considerable number of players and there is a wide scope for the entrance of new players in the market. The most striking strategy is market development and the Middle East, and Africa region provides abundant opportunities for the development of the market due to significant unmet demands. Market players are primarily focusing on meeting the demands of the consumers, in order to lessen the demand and supply gap, consequently contributing to the surgical sutures market.
Surgical Sutures Market Segmentation
The Middle East and Africa surgical sutures market, have been segmented on the basis of product type, raw material, construction, and region.
Based on product type, the market has been segmented into absorbable and non-absorbable sutures. Absorbable sutures are biodegradable and get absorbed by the body after a certain period of time. Due to its superior property, the absorbable surgical segments assessed to account for the largest market share over the forecast period.
On the basis of raw material; the market is segmented into natural and synthetic. The improvement of absorbable sutures based on synthetic materials such as polyglycolic acid, polylactic acid, polydioxanone, and polyester, among others, has been driving the growth of the synthetic segment and is estimated to witness the highest growth over the forecast period.
On the basis of construction; the market is segmented into monofilament and multi-filament.
Based on the region, the market has been segmented into UAE, Egypt, Saudi Arabia, Kuwait, Qatar, and Oman.
Surgical Sutures Market Regional Analysis
MRFR, to discuss the MEA surgical sutures market, includes regions such as UAE, Egypt, Saudi Arabia, Kuwait, Qatar, and Oman. Inclusion of these regions are to help a better analysis of the market in the coming days.
Among these countries, the UAE is leading the regional market. However, Egypt is giving it tough competition as the second rank holder. The market in both these regions are substantially intense owing to the presence of several market titans who are spending substantially to expand their business in the region. Saudi Arabia’s growth in this sector is also considerable as the surge rate is higher than both Egypt and the UAE. The region is benefitting from the structural development it is having and increasing per capita income. Other African countries are expected to show substantial demand for such a growth as the huge unmet medical needs in the region can influence companies in developing impactful strategic decisions.
The hindrance that the region is facing is the presence of several poor economies. These countries do have the demand but structural inadequacy is bottlenecking the growth. However, governments are trying to aid the regional structure by seeking out grants from both developed and developing countries. They are also trying to bring down the cost of surgeries to take it to a larger number of people. As a response a lot of public companies are trying to fill in the gap. In their endeavor they are getting substantial help from both regional governments and the World Health Organization (WHO).
Table Of Content
1.2 Scope Of Study
1.3 Research Objective
1.4 Assumptions & Limitations
1.5 Market Structure:
2 Research Methodology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
3 Market Dynamics
3.5 Macroeconomic Indicators
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