NEW YORK, Sept. 30, 2022 /PRNewswire/ — According to “By Material (Resorbable vs. Non-Resorbable), By Structure (Monofilament vs. Multifilament), By Application (Cardiovascular Surgery) Surgical Sutures Market” New Market Research Report , Neurosurgery, Orthopedics, Ophthalmology) – Global Outlook and Forecast 2022-2030″ published by the Growth Plus report, the surgical suture market is expected to grow at a compound rate of 5.4% from 2021. The annual growth rate will reach 6.26 billion US dollars by 2030. Growth+ reports are noted due to increased demand for surgical operations and improved suture materials.
The prevalence of lifestyle diseases such as cancer, coronary heart disease, cerebrovascular disease, orthopedic problems and mental illness is on the rise. The global market for surgical sutures is driven by the continued rise in the prevalence of lifestyle-related diseases and the growing demand for more surgical procedures. Rising healthcare spending in most countries and improved healthcare infrastructure in emerging markets are expected to lead to an increase in patient numbers. In addition, the introduction of advanced technology products by major industry players contributes to more precise treatment and increases the success rate of surgical operations. Consequently, this will lead to the expansion of the global market for surgical sutures.
The global market for surgical sutures is analyzed from four different perspectives: material type, structure, application and region.
According to the analysis, the absorbable suture segment is predominant. This is due to the advantages of the device, such as its ability to support dense tissue due to its high tensile strength and short healing time. However, the market share of non-absorbable suture segments is very low because they cannot be resorbed or degraded in the body. They are often used in surgical sites requiring slow healing.
In terms of revenue share, the multifilament segment dominates the market. The multifilament category is expected to grow at the fastest pace during the forecast period. This is due to the advantages of the multifilament section, including excellent knot security, high tensile strength and flexibility, and ease of handling. On the other hand, monofilament threads have a small market share due to their damaged structure.
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The presence of large regional players, higher cost of sutures, expansion of government programs and improved medical infrastructure make North America the market leader in surgical sutures compared to other countries with favorable cost recovery conditions. Much of North America’s sales are also largely driven by technological advances and a strong domestic boom.
The fastest growing region is expected to be Asia-Pacific. This is due to unmet medical needs in the region, a growing geriatric population requiring more frequent surgeries, and increased public investment in the healthcare system. Another key driver of the exponential growth of the industry market is the growth of medical tourism in countries such as India, Singapore and Malaysia.
Post time: Oct-28-2022
