Pune India, Jan. 17, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the Surgical Suture market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the Surgical Suture market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as Type, Application, and Region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Surgical Suture market are Covidien, Ethicon US LLC, B. Braun Melsungen AG, Smith & Nephew, Integra Lifesciences, Peter Surgical, Internacional farmaceutica, CONMED CORPORATION, Sutures India Pvt Ltd, among others. To achieve a substantial market share in the worldwide Surgical Suture market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
The increase in surgical cases is one of the main factors driving the global market for surgical sutures. A surgical stitch, commonly referred to as a suture, is a medical tool used to hold bodily tissues together after a physical ailment or surgical procedure. Typically, a needle with a string attached is used for the application. In an ideal situation, a stitch would allow the healing tissue to recover enough to keep the injury terminations together after they are removed or digested. The public's ignorance of the many suturing techniques offered on the market has severely restricted the industry's ability to grow. Insurance companies' erratic rules on suturing supplies have been shown to be a market restraint. A major obstacle to the market's growth has been the overall cost of surgical treatment, which increases dramatically when advanced instruments and materials are used. The variety of wound healing options available in the market has hampered the advancement of surgical sutures, which might harm the market over the course of the projected period. Due to the expansion of knowledge about unusual procedures, the demand for improved healthcare facilities, and the increase of research in the field, there are also a lot of opportunities for firms operating in the sector. These products are encouraged for usage in healthcare institutions by several governments. The market for the target product is expanding significantly.
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Scope of Surgical Suture Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Type, Application, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Covidien, Ethicon US LLC, B. Braun Melsungen AG, Smith & Nephew, Integra Lifesciences, Peter Surgical, Internacional farmaceutica, CONMED CORPORATION, Sutures India Pvt Ltd, among others |
Segmentation Analysis
Absorbable are expected to be the fastest-growing segment in 2022.
The Type segment is Absorbable and Non absorbable. Absorbable is expected to be the fastest-growing segment in 2022. Due to its ability to briefly keep wounds open until they can withstand the normal strain and heal. The rapidly rising demand for absorbable sutures is another indication of their ability to spontaneously dissolve. As a result, leading market players are investing money in R&D initiatives, which are anticipated to support the development of the absorbable sector in the future.
Cardiovascular Surgery is expected to be the fastest-growing segment in 2022.
The Application segment is Ophthalmic Surgery, Cardiovascular Surgery, Orthopedic Surgery, Neurological Surgery, and Others. Cardiovascular Surgery is expected to be the fastest-growing segment in 2022. Because there are so many people in the world who have cardiovascular issues, the discipline of cardiovascular surgery has grown significantly. The growth in chronic disorders of the cardiovascular system has led to an increase in procedures. The number of cardiovascular problems requiring surgery has increased along with the increase in the world's old population. This has led to a large increase in the number of cardiac surgeries, which will increase demand for surgical sutures throughout the course of the forecast period.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for Surgical Suture include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North America region witnessed a major share. Due to the availability of local and large players, the advantageous reimbursement environment, the expansion of government programs, and the established healthcare infrastructure, there is a comparatively high cost of sutures compared to other regions. The considerable revenue share of North America is also primarily attributable to the region's strong domestic economy and technical advancements in Surgical Sutures Market.
Country Analysis
- Germany
Germany's Surgical Sutures Market size was valued at USD 0.8 billion in 2022 and is expected to reach USD 1.7 billion by 2030, at a CAGR of 6.3% from 2023 to 2030. Germany is anticipated to see a CAGR growth rate over the projected period. B. Braun Melsungen AG, a leader in the field with a German basis, presents a lucrative opportunity for growth.
- China
China’s Surgical Sutures Market size was valued at USD 0.9 billion in 2022 and is expected to reach USD 1.3 billion by 2030, at a CAGR of 6.5% from 2023 to 2030.
The China surgical suture market is moderately competitive and includes a number of important players. Surgical sutures are becoming more and more necessary in China. As a result, the market is now more lucrative. This will encourage foreign competitors to set up shops in China.
- India
India's Surgical Sutures Market size was valued at USD 0.7 billion in 2022 and is expected to reach USD 1.8 billion by 2030, at a CAGR of 5.8% from 2023 to 2030. Both the number of trauma cases in India and the number of people with chronic conditions being admitted to hospitals have increased. It is predicted that as more orthopedic, alimentary, ophthalmic, and other situations call for surgical suturing during procedures, there would be a rise in demand for their use and acceptability. As a result, more surgeries led to a decrease in the demand for surgical sutures, which helped the Indian market grow.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, The growth of this market is mainly driven by an increase in the no. of operations taking place throughout the world, creating a huge need for surgical sutures.
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