Market Overview: The global surge in elective surgical procedures worldwide has spurred the development of efficient and dependable surgical supplies. Sutures market, a series of stitches utilized to close open wounds using a needle and thread, play a crucial role. The thread is threaded through the needle and passed through semi-soft skin tissues, aiding in the closure of neuropathic ulcers, diabetic ulcers, or post-surgery sites to safeguard against infection or harmful reactions causing organ damage. Healthcare professionals need to use multiple layers of sutures based on the material type. The increasing adoption of sutures in highly invasive orthopedic, cardiac, and neurological procedures by hospitals broadens the scope for growth opportunities. In 2019, the global suture market reported substantial size, with projections indicating significant expansion by 2028, marked by rapid revenue growth. Industry analysis underscores the escalating demand for reliable and efficient medical supplies, driven by evolving market trends and consumption patterns, expected to fuel industry and market growth throughout the forecast period.
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The surge in COVID-19 cases has disrupted normal hospital operations and manufacturing industries, impacting the suture market. Many hospitals, originally designated for elective surgeries, have been repurposed as emergency centers for COVID-19 patients, resulting in decreased medical supply availability and disrupted supply chains. Several private firms, relying on past savings, have exhibited weakened financial strength. However, with the easing of quarantine regulations and a heightened demand for emergency surgeries, the market is poised for new growth opportunities.
Major Factors Driving Growth of the Global Suture Market: The continuous rise in daily surgeries due to unhealthy lifestyles, technological advancements in healthcare, and an aging population is expected to propel the market. The adoption of sutures in developing countries, where alternatives like surgical staples are less available, contributes to increased sales. The prevalence of chronic diseases, trauma cases from accidents, and third-degree burns has generated a significant demand for efficient medical supplies. Elective cosmetic surgeries’ popularity and the preference for absorbable sutures that disintegrate in the skin automatically are actively favored by medical practitioners. Improved suture designs for critical stitching in treating neurological diseases and tumors, coupled with favorable government reimbursement plans, have influenced the market.
Enhanced surgical efficacy, coupled with initiatives promoting partnerships among key players in low- to middle-income nations, creates lucrative growth opportunities. The absorbable suture segment is anticipated to dominate the market due to the various benefits offered by bio-produced threads.
Factors Restraining Growth of the Global Suture Market: A shift in preference towards non-invasive surgeries and the availability of alternative wound care options might impede market growth.
North America Accounts for the Largest Revenue Share in the Global Suture Market: North America dominated the market over the last decade, driven by factors such as the adoption of technologically advanced medical infrastructure, high disposable income, and the strong presence of major market players.
Asia Pacific Continues to Grow in Terms of Revenue CAGR: Asia Pacific is projected to experience the fastest Compound Annual Growth Rate (CAGR) over the forecast period due to increasing investments in the public and private sectors, favorable government policies, a high volume of surgeries, and a rapid rise in the geriatric population in India and China.
Major Companies Profiled in the Report:
- Medtronic PLC
- Ethicon
- Smith & Nephew
- Mellon Medical B.V.
- Sutures India Pvt. Ltd.
- B.Braun Melsungen AG
- Surgical Specialties Corporation
- Internacional Farmacéutica
- Boston Scientific Corporation
- Péters Surgical
- DemeTECH Corporation
- Integra LifeSciences
Strategies and Objectives of Major Companies: The report outlines strategies and objectives pursued by major companies in the suture market.
What Our Report Provides and Why Our Offering Is Better: The report offers historical data, forecasts, and revenue growth at a global, regional, and country level. It provides analysis, industry trends, consumption patterns, market strategies, segment revenue, and market share contribution for each region, major country, and segment from 2018 to 2028. Additionally, the report includes industry analysis, competitive landscape, company financials, and impact analysis. It presents a detailed view of the global market, encompassing changing dynamics, trends, scenarios, market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and historical, current, and projected revenues.
Detailed Segmentation in Our Report: For this report, the global active packaging market is segmented based on Product, Filament Type, Application, End User, and Region.
By Product Type (Revenue, USD Billion; 2018-2028):
- Absorbable
- Nonabsorbable
By Filament Type (Revenue, USD Billion; 2018-2028):
- Monovalent
- Multivalent
By Application (Revenue, USD Billion; 2018-2028):
- Ophthalmic Surgery
- Cardiovascular Surgery
- Orthopedic Surgery
- Neurological Surgery
- Others
By End Use (Revenue, USD Billion; 2018-2028):
- Hospitals
- Ambulatory Surgical Centers
- Others
Region Outlook (Revenue, USD Billion; 2018-2028):
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
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