LOS ANGELES, Jan. 31, 2019 (GLOBE NEWSWIRE) -- The global surgical sponge market has adversely affected due to economic slowdown across the globe in the past. However, since last few years the market has been progressing positively and is expected to show steady growth in the years to come. QY Research has added a new report in its depository titled," Global Surgical Sponge Market Survey and Forecast Report 2019", for the forecasted period of 6-years, i.e., between 2019 and 2025. The global surgical sponge market was valued at US$ 1990 Mn in the year 2018 and is expected to reach around US$ 2630 Mn by 2025, registering a sluggish CAGR of 3.6% during the forecasted period.
Global Surgical Sponge Market: Drivers and Restraints
The global market for the surgical sponge is expected to grow remarkably during the projected period. The rising incidents of cesareans across the globe, the rise in geriatric population, increasing cases of accidents are some of the factors that are fuelling the growth of the market. Besides, various key players in the market are introducing technologically advanced new types of surgical sponges which is also creating a positive impact on the market.
However, the rising preferences of patients towards minimally invasive surgical procedures instead of open surgeries is likely to hamper the growth of the worldwide market for the surgical sponge.
Global Surgical Sponge Market: Competitive Landscape
The top players functioning in the global surgical sponge market are Medicom, Medtronic, Texpol, Molnlycke, Dukal, BSN medical, Kettenbach, Medline, Crosstex, Hartmann, ASC, Lohmann & Rauscher, Allmed Medical, Ahlstrom, Deroyal, Owens & Minor, Hakuzo, B. Braun, Jianer Kang, McKesson, Winner Medical, and Zhende Medica.
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Global Surgical Sponge Market: Segmental Analysis
The global market for the surgical sponge is segmented into application and product type. Based on the application the worldwide market for the surgical sponge is segmented into Pharmacy, Hospital, Ambulatory Surgery Center, and Clinic. The hospital segment was leading the market in 2017 and is expected to grow further in the years to come.
On the basis of product type, the global surgical sponge market is segmented into X-Ray Detectable Sponges, Cotton Gauze Sponges, and Nonwoven Sponges.
Global Surgical Sponge Market: Regional Outlook
Region wise, the global market for the surgical sponge is segmented into the Asia Pacific, Europe, South America, North America, and the Middle East and Africa. North America is witnessing the remarkable growth due to advanced technology and growing incidents of accidents. The Asia Pacific is expected to grow during the predicted period due to rising population and growing urbanization. Europe is also likely to grow at a remarkable growth rate in the near future.
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