New York, NY -- (SBWire) -- 09/08/2020 --According to a report by P&S Intelligence, the global surgical sutures market generated a revenue of $3.5 billion in 2016 and is predicted to attain $4.7 billion in 2023, advancing at a 4.2% CAGR during the forecast period (2017–2023). The market is growing due to the rising prevalence of chronic diseases, increasing healthcare expenditure, surging geriatric population, rising number of surgeries and burn cases, and increasing number of hospitals. Medical devices which are utilized during a surgery or after an individual suffers injury for holding the body tissues together and closing the wounds are referred to as surgical sutures.
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When product is taken in consideration, the surgical sutures market is divided into automated suturing devices and sutures. Between the two, the sutures division dominated the market during the historical period (2013–2016) and is predicted to account for the major share of the market during the forecast period as well. The division is further bifurcated into non-absorbable and absorbable sutures. The automated suturing devices is expected to grow at the fastest pace during the forecast period, as these devices save time and need less work.
The objective of this research includes;
- Major factors driving the surgical sutures market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the surgical sutures market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the surgical sutures market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
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In terms of application, the surgical sutures market is categorized into cardiovascular surgeries, gynecological surgical, general surgeries, orthopedic surgeries, ophthalmic surgeries, and others (which include vascular surgery, thoracic surgery, vascular surgery, plastic & reconstructive surgery, neurosurgery, and head & neck surgery). Out of these, the general surgeries category held the largest share of the market during the historical period and is further expected to dominate the market during the forecast period. On the basis of end user, the market is divided into hospitals and others (which include ambulatory surgery centers, clinics, and nursing homes).
Another factor positively impacting the surgical sutures market is the surging aging population. According to the United Nations Department of Economic and Social Affairs report, the number of people aged 60 years or above is predicted to grow by 56%, globally. The elder population goes through various kinds of surgeries such as abdominal & thoracic surgery, heart surgery, hip & knee replacement, non-cardiac surgery, and cataract surgery, which require different kinds of surgical sutures.
Hence, the growing prevalence of chronic diseases, surging geriatric population, and increasing number of hospitals are driving the growth of the market.
The research includes detailed analysis of;
MARKET SEGMENTATION BY PRODUCT
- Sutures
o Absorbable sutures
o Natural sutures
o Synthetic sutures
? Polyglactin 910 sutures
? Poliglecaprone 25 sutures
? Polydioxanone sutures
? Polyglycolic acid sutures
? Other synthetic sutures
o Non-absorbable sutures
? Nylon sutures
? Prolene sutures
? Stainless steel sutures
? Other non-absorbable sutures
o Automated suturing devices
? Disposable
? Reusable
-
MARKET SEGMENTATION BY APPLICATION
- General surgeries
- Cardiovascular surgeries
- Orthopedic surgeries
- Gynaecological surgeries
- Ophthalmic surgeries
- Others
MARKET SEGMENTATION BY END USER
- Hospitals
- Others
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