According to the latest report published by Credence Research, Inc. “Surgical Sutures Market – Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global surgical sutures market was valued at US$ 3.5 Bn in 2016, and is expected to reach US$ 6.3 Bn by 2025, expanding at a CAGR of 6.71% from 2017 to 2025.
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Surgical sutures are utilized to close injuries and repair harmed tissues. There are numerous sorts of sutures, with various properties suitable for different works. Sutures can be classified into two categories: dissolvable and non-dissolvable. A dissolvable suture deteriorates in the body. It degrades as an injury or cut mends. A non-dissolvable sutures opposes the body attempts to absorb it. Non-dissolvable sutures might be expelled by a surgeon after a surface incision has recuperated.
Surgical methodologies are receiving growing consideration as an approach to take care of numerous health issues. According to the Global Burden of Disease (GBD) 2010 and World Health Organization (WHO’s) global health estimates, not less than 321.5 Mn surgical procedures would be accepted to address the burden of disease for a worldwide populace of 7 Bn in 2010.
Increased prevalence of CVDs have also promoted the ascent in number of cardiovascular surgeries, therefore, driving the utilization of surgical sutures. Therefore, factors such as early adoption of cutting edge treatment procedures, high prevalence of cardiovascular diseases, and growing number of surgeries will uplift the demand for surgical sutures in future, which has prompted the growth in the surgical sutures market.
Depending on the product types, the global surgical sutures market is categorized into dissolvable and non-dissolvable sutures, furthermore on the basis of application areas, the worldwide surgical sutures market is classified into the orthopedic surgeries, cardiovascular surgeries, cosmetic surgeries, general surgeries, ophthalmic surgeries, gynecological surgeries, neurological surgeries and others.
Among these, cardiovascular surgeries segment holds the major share of the whole market. Advancement in technology (such as antibacterial sutures), rising incidence of prolonged diseases, expanding geriatric community around the world, better patience cognizance and ascend in disposable earnings in the developing nations would additionally enhance the adoption of surgical sutures.
Geographically, the worldwide surgical sutures market is contemplated for Asia Pacific, North America, Middle East and Africa, Europe, and Latin America. With respect to revenue share, North America right now drives the worldwide market and is anticipated that the situation will stay constant during the forecast period. However, the ascendancy of North America will be clearly confronted by Asia Pacific market.
The requirement of surgical sutures has elevated in Asia Pacific because of development in the expansion healthcare infrastructure, healthcare expenditure, and discretionary income. There are vast opportunities for market penetration in nations like China, India, and Mexico to the market incumbents already having a stronghold in developed regions.