Surgical Sutures Market Size to Grow USD 5306.1 Million by 2029 at a CAGR of 5.3% | Valuates Reports
BANGALORE, India, Jan. 10, 2024 /PRNewswire/ -- Surgical Sutures market is Segmented by Type (Absorbable suture, Non-absorbable suture), by Application (Cardiovascular Surgeries, General Surgeries, Gynecological Surgeries, Orthopedic Surgeries, Ophthalmic Surgeries, Other Surgeries): Global Opportunity Analysis and Industry Forecast, 2023-2029. It is Published in Valuates Reports Under the Category of Medical Devices & Equipment.
The global Surgical Sutures market size is expected to reach USD 5306.1 million by 2029, growing at a CAGR of 5.3% from 2023 to 2029.
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Major Factors Driving The Growth Of The Surgical Sutures Market
The increasing number of surgical procedures performed worldwide, improvements in suture technology and materials, the growing geriatric population that requires more medical interventions, and the rise in chronic illnesses and trauma cases are all driving factors behind the growth of the surgical sutures market.
Specialized sutures are in high demand due to patients' preference for minimally invasive procedures; the market is also expected to grow as a result of strict regulatory requirements and the establishment of healthcare infrastructure in emerging regions.
Market expansion is further accelerated by ongoing innovation, which is motivated by the requirement for patient safety and compliance. Rising healthcare spending in emerging markets and around the world allows hospitals to invest more in cutting-edge surgical technologies, such as premium sutures.
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TRENDS INFLUENCING THE GROWTH OF SURGICAL SUTURES MARKET
Globally, the number of surgical procedures is increasing, which is driving growth in the surgical sutures market. There are more surgeries being conducted, from simple procedures to complicated surgeries, as healthcare systems develop and access to medical facilities improves. Surgical sutures are in high demand since they are essential to wound closure, which is consistent with the expansion of the healthcare sector as a whole.
The development of suture materials technology is essential to the market's growth. Better wound healing results are a result of ongoing material innovation, including the creation of sophisticated coatings and absorbable and non-absorbable sutures. The utilization of surgical sutures in many medical applications is facilitated by the introduction of innovative materials that improve tissue reactivity and biocompatibility.
The aging of the world's population is a major factor driving the growth of the surgical sutures market. The need for surgical sutures is further driven by the fact that older adults frequently need surgery to address a variety of health issues, and this cohort is more likely to have chronic diseases than other age groups. The need for long-term, efficient wound closure methods is exacerbated by the aging population.
The global increase in the prevalence of traumatic injuries and chronic illnesses is a major driver in the need for surgical sutures. Surgical procedures are frequently necessary for chronic illnesses, and trauma patients—whether from crises or accidents—need to have their wounds closed right away. Surgical sutures are used more frequently in a variety of healthcare settings as a result of this increase in medical events. One significant trend impacting the surgical sutures market is the growing inclination towards minimally invasive surgical procedures. Sutures made especially for minimally invasive operations are becoming more and more in demand as technology advances make it possible to execute more surgeries in this manner. Sutures are becoming increasingly popular in this changing field since they are essential for accurate wound closure during minimally invasive operations.
The surgical suture industry is driven by continual innovation driven by strict regulatory standards and a focus on patient safety. Compliance with regulatory regulations is required for manufacturers in order to guarantee the quality and safety of their products. In addition, by addressing changing healthcare demands, the pursuit of product innovations—like the creation of antimicrobial sutures—further stimulates market growth.
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SURGICAL SUTURES MARKET SHARE ANALYSIS
Due to demand from China, the second-largest economy in the world with some signs of stabilization, the surgical sutures market in Asia Pacific has significant potential for growth.
Key Players:
- Ethicon Inc
- B. Braun
- Medtronic Inc
- Smith & Nephew
- Boston Scientific
- Péters Surgical
- Demetech
- Internacional Farmacéutica S.A. De C.V.
- Sutures India
- EndoEvolution
- Apollo Endosurgery
- Surgical Specialties
- Mellon Medical
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