Sugical Sutures Market : Top Companies, Trends and Growth Factors, Global Market Status, Driving Factor Analysis, Competition Status

Posted April 10, 2019 by sunny88

Sugical Sutures Market accounted for $3,360 million in 2015, and is expected to reach $5,255 million by 2022, growing at a CAGR of 6.4% from 2016 to 2022.

The number of hospitals due to the elderly population and patients with various chronic diseases is rapidly increasing and the adoption of high-tech products is rapidly increasing, leading to the growth of the surgical seal market. However, the adoption of alternative products such as advanced wound suture materials and the lack of adequate sterilization processes in the medical environment are expected to hamper market growth.

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The stitching sector accounts for more than 5/5 of the market share in 2015 and is expected to dominate the market with an annual average growth of 6.3%. Absorbable sutures dissolve in tissues after a period of time to heal wounds, while nonabsorbable sutures must be removed after the incision is healed. The absorbable suture segment has maintained its largest share in 2015 and is expected to retain its dominance

The key players in the surgical suture market are expanding their business operations in the developing countries with new product launches. Comprehensive profiles of major market players such as Johnson & Johnson Private Limited, B. Braun Melsungen AG, Smith & Nephew, Demetech Corporation, Conmed Corporation, W.L. Gore & Associates, Boston Scientific, 3M Healthcare, Medtronic Inc., and Sutures India Pvt Ltd. are provided in this report

By material, the multifilament segment accounted for the largest share in the sutures market in 2015, and is estimated to grow with a CAGR of 6.6%. In the same year, the general surgeries application segment dominated the market with more than one-third share due to the increase in demand for surgical sutures in various types of abdominal and other general surgeries.

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Key findings of the Surgical Sutures Market:
• In the year 2015, suture was the leading segment that accounted for 85.4% of the suture market, and is projected to grow at a CAGR of 6.3% during the forecast period.
• North America accounted for the share of 44.5% of the in 2015, and is projected to grow at a CAGR of 6.1%.
• The prolene suture segment showed the highest growth in the non-absorbable sutures market, and is projected to continue its lead.
• U.S. is the major shareholder in the North American region, accounting for 91.5% share in 2015.
• Germany is the major shareholder in the Europe, accounting for 19.7% share in 2015.

North America was the highest revenue contributor and Asia-Pacific showed fastest growth, accounting for 19.2% share in 2015. The large share of North America is attributed to the higher adoption of technologically advanced products such as absorbable & antibacterial coated sutures, growth in surgical procedures with increase in prevalence of various chronic diseases, and the development of the wound management sector.

However, Asia-Pacific is projected to grow at a the fastest CAGR due to rise in demand for surgical procedures from large pool of patient population suffering from diabetes, cardiovascular diseases, coronary thrombosis, cancer, and others.

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Issued By Allied Market Research
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Country United States
Categories Industry , Medical , Research
Last Updated April 10, 2019