Albany, New York, Nov. 29, 2018 (GLOBE NEWSWIRE) -- The global surgical sutures market is forecast to garner a CAGR of nearly 3.9% during 2017–2025. The market is projected to witness an incremental opportunity of about US$5,080.1 million by the end of this period.
Among the broad types of products, absorbable sutures leads the global surgical sutures market in 2016 and is anticipated to hold a massive share in the coming years, as well. This is attributed to their extensive demand in meeting short-term tissue healing requirements and in providing temporary wound support.
Regionally, North America led the sway in the global surgical sutures market by holding nearly 35.0% in 2016. The regional market is expected to retain its lead throughout the assessment period, on account of the prevailing favorable healthcare landscape. The uptake of surgical sutures is fueled by rising number of surgeries in the region.
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Extensive Demand for Advanced Wound Healing in Surgeries bolstering Market Expansion
The global surgical sutures market is driven increasingly by the rising number of a range of surgeries that need suturing materials. In addition, the rising demand for advanced wound healing materials in patient populations after surgeries is propelling the growth of the market. The demand is also fueled by rising elderly populations, especially in developing regions. The rising spending in healthcare services and advanced wound healing in developing and developed countries is also bolstering the demand for surgical sutures.
The rising incidence of cardiovascular disorders leading to surgical processes is a notable factor imparting a robust impetus to the growth of the surgical sutures market. The rapid pace of innovation in suture materials in the past few years has led to the advent of advanced surgical sutures that can reduce post-operative complications substantially, such as in abdominal wound closure.
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Advances in Wound Healing Techniques to underpin Exciting Frontiers in Surgical Sutures Market
Over the past few years, there has been continuous advances in understanding tension in a suture and the wound healing mechanism. This has been creating new frontiers in wound healing, thereby opening new avenues in the surgical sutures market. Furthermore, in several developing countries, rapid progress has been made in social insurance schemes for patients undergoing surgery. This is a crucial trend likely to unlock promising prospects in the global surgical sutures market. Furthermore, advances in materials used in surgical sutures, especially in absorbable type, is also expected to open new avenues in the near future.
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The global surgical sutures market features a largely consolidated vendor ecosystem as the top five players accounted for a combined share of over 65.0% in the global market in 2015, finds Transparency Market Research (TMR). These players are Smith and Nephew plc. Acelity L.P. Inc., Integra LifeSciences Corporation, Medela AG, and Cardinal Health. Numerous top players retain their stronghold in the global surgical sutures market on the basis of constant efforts to diversify their products and bring innovations. Several prominent players are also focusing on maintaining a robust rapport with their clients, which helps them stay ahead of their peers. The presence of several regional players in the global surgical sutures market who are increasingly developing low-cost products offers stiff competition to big incumbent players, usually with global footprints.
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The study presented here is based on a report by Transparency Market Research (TMR) titled “Surgical Sutures Market (Product Type - Absorbable Sutures (Natural Sutures and Synthetic Sutures) and Non-absorbable Sutures (Nylon Sutures, Polypropylene Sutures, and Stainless Steel Sutures); Application - General Surgery, Gynecological Surgeries, Cardiovascular Surgeries, and Orthopedic Surgeries, Other Surgeries; End User - Hospitals, Specialty Clinics, and Ambulatory Surgery Centers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025”.
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About TMR
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