Surgical Sutures Market is Anticipated to Register a 3.9% CAGR between 2017 and 2025
The global Surgical Sutures Market is envisaged to gather pace in terms of growth as the incidence of hernia, trauma, and soft tissues, skin, and breast-related conditions continues to see a rise. In addition, increasing prevalence of musculoskeletal disorders and constant rise in geriatric population could create profit-making opportunities in the global surgical sutures market. On the other hand, increasing number of peripheral vascular surgeries is expected to raise demand in the global surgical sutures market.
Anticipated to register a 3.9% CAGR between 2017 and 2025, the global surgical sutures market could present an incremental opportunity worth a US$5.0 bn during the said forecast period.
On the basis of end user, the global surgical sutures market is classified into ambulatory surgical centers, specialty clinics, and hospitals. Among these, hospitals are foreseen to become a prominent segment of the global surgical sutures market. Developing countries witnessing an increase in the number of new hospitals, promising reimbursement policies, and rising count of complicated surgeries performed in hospitals could support the growth of this segment for the next few years.
By application, the global surgical sutures market sees a classification into orthopedic, cardiovascular, gynecological, general, and other surgeries. Among these, cardiovascular surgeries are prophesied to account for an impressive share of the global surgical sutures market. High incidence of cardiovascular diseases and increase in the number of cardiovascular surgeries performed could set the tone for significant growth of this segment in the global surgical sutures market.
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By product, the global surgical sutures market is divided into non-absorbable and absorbable sutures. Among the two, absorbable sutures are predicted to collect a lion’s share of the global surgical sutures market. In 2016, the segment accounted for a 60.0% share of the global surgical sutures market. Absorbable sutures are largely popular among end users as they lower the risk of wound infection. On the other hand, non-absorbable sutures are used in applications that require long-term support. However, their uptake is limited due to the high risk of side effects. Nevertheless, they could be used in specialized applications such as cardiovascular surgeries.
From a geographical perspective, the surgical sutures market is prognosticated to find North America ranking higher in relation to revenue growth. The region bagged a 35.0% share of the global surgical sutures market in 2016. Rising demand for advanced treatments, increasing number of surgeries, and high incidence of cardiovascular diseases could prove beneficial for the surgical sutures market in the region.
Asia Pacific could also show promising growth in the global surgical sutures market as it rises at a steady CAGR during the aforementioned forecast period. Factors such as increasing incidence of lifestyle-related diseases, low cost of treatment, growing medical tourism, and rising awareness among end users are expected to create lucrative prospects in the Asia Pacific surgical sutures market.
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The global surgical sutures market marks the presence of leading players such as Medtronic Plc., Integra LifeSciences Corp., and Teleflex Inc.