Global Surgical Sutures Market to Reach US$5,080.1M by 2025 – Transparency Market Research

Nov 13, 2017 - (Newswire)

A recent intelligence study by Transparency Market Research (TMR) has detected a considerably consolidated competitive landscape in the global surgical sutures market. In 2015, top five players, viz. Smith & Nephew plc, Acelity L.P. Inc., Cardinal Health, Integra LifeSciences Corporation, and Medela AG, collectively accounted for 65% of the total shares, staying ahead of the curve via innovative product offerings and strong after-sales relationships. On the other hand, a number of domestic and regional players have also emerged and are offering top selling products at low prices to eat substantial share. As the profit margins shrink and threat of alternatives mounts, companies operating in this market will be forced to rely on geographical expansion across developing countries wherein the prevalence of cardiovascular diseases is quite prominent.

As per the projections of the TMR report, the demand in the global surgical sutures market will increment at a CAGR of 3.9% during the forecast period of 2017 to 2025, by the end of which the revenue is estimated to reach US$5,080.1M. Boston Scientific Corporation, Medtronic Inc., 3M Healthcare, B. Braun Melsungen AG, Johnson & Johnson Inc., Demetech Corporation, W.L. Gore & Associates, Conmed Corporation, and Sutures India Pvt Ltd. are some of the other prominent players identified by the report who are currently operating in the global surgical sutures market.

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Product-wise, the report segments the global surgical sutures market into absorbable sutures including natural and synthetic and non-absorbable sutures including poly propelene, Nylon, and stainless steel. Among these, the segment of absorbable sutures accounted for 60% of the global demand and is anticipated to remain most profitable throughout the forecast period. Benefits such as lowered risks of wound infection, availability at low price, and high profit margin are propelling this segment. Application-wise, the market for surgical sutures has been bifurcated into general surgeries, cardiovascular surgeries, gynecological surgeries, and orthopedic surgeries. End-use classification of the market has been done into hospitals, specialty clinics, and ambulatory surgery centers.

Geographically, the report picks out North America are the most lucrative region, and projects the demand from this region to increment at a CAGR of 3.8% during the forecast period of 2017 to 2025. In 2016, North America served 38% of the total demand in the global surgical sutures market, gaining traction from factors such as increasing number of surgeries and high adoptability of new technology in the developed country of the U.S.

Increasing number of surgical procedures in both developed and emerging economies, recent launch of advanced sutures, increasing geriatric population who commonly suffer from cardiovascular diseases, and favorable reimbursement scenario. On the other hand, lack of proper sterilization, unfavorable taxation policy, increasing preference for minimally invasive surgical procedures, and presence of alternate wound care management products are a few factors obstructing the prosperity of the global surgical sutures market. Nevertheless, the vendors operating in this market are expected to gain new opportunities from growing popularity of cosmetic surgeries and increasing healthcare infrastructure in low- and medium-income countries such as India, China, South Korea, Japan, and Malaysia.​

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Original Source: https://www.newswire.com/news/global-surgical-sutures-market-to-reach-us-5-080-1-by-2025-20056754

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