|Surgical Suture Market Worth $ 5.33 Billion, Globally, by 2028 at 5.82 % CAGR: Verified Market Research™|
|By GLOBE NEWSWIRE|
|Tuesday, 04 May 2021 05:15|
Jersey City, New Jersey, May 04, 2021 (GLOBE NEWSWIRE)
Jersey City, New Jersey, May 04, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Surgical Suture Market” by Product Type (Automated Suturing Devices & Sutures), by Material (Monofilament & Multifilament), by Application (Ophthalmic, Cardiovascular, Orthopedic, Gynecological, Orthopedic & General Surgeries), by End-User (Hospitals, Ambulatory Surgical Centres & Clinics and Physician Offices), and by Geography. According to Verified Market Research, the Global Surgical Suture Market was valued at USD 3.39 Billion in 2020 and is projected to reach USD 5.33 Billion by 2028, growing at a CAGR of 5.82% from 2021 to 2028.
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Browse in-depth TOC on “Surgical Suture Market”
202 - Pages
126 – Tables
37 – Figures
Global Surgical Suture Market Overview
The rising number of surgical procedures is a prominent growth driver for the Global Surgical Suture Market. An estimated 313 million surgeries are performed globally every year which opens up a massive demand for surgical sutures in many economies and hence acts as a potential growth driver.
Another significant growth driver for the Global Surgical Suture Market is the increasing geriatric population. As of 2019, People over 65 years of age represent roughly 16 percent of the American population, but account for 40 percent of patients undergoing surgery in hospitals — and probably more than half of all surgical procedures. The elderly mostly contract chronic physical conditions which need surgical attention to get better. Hence, this shift in the population composition also leads to the increasing demand for surgical sutures.
Another driver for the growth of the Global Surgical Suture Market is the increase in the number of cosmetic procedures with a rise in disposable income, technological advancements such as hybrid fractional lasers, and Cryolipolysis which result in safer operating procedures. Cosmetic surgical procedures completed in 2019 are 7.4% more than the number completed in 2018.
Key Developments in Surgical Suture Market
• In 2018, Futura Surgicare’s brand Dolphin Sutures launched Durabarb-a knotless wound closure device designed to redefine the suturing experience for surgeons.
• In 2018, Apax Partners Llp acquired Bengaluru-based medical devices company Healthium MedTech Pvt. Ltd (formerly known as Sutures India). The investment in Healthium marked the second investment in the healthcare space by Apax in India, the first being investment in Apollo Hospitals
• In 2020, Zimmer Biomet has acquired A&E Medical and its complete portfolio of sternal closure devices – including sternal sutures, cable systems, and rigid fixation – along with a range of single-use complimentary temporary pacing wire and surgical punch products.
The major players in the market are Medtronic plc (U.S.), Peters Surgical SAS (France), Boston Scientific Corporation (U.S.), Healthium MedTech Pvt. Ltd. (India), CONMED Corporation (U.S.), Johnson and Johnson (U.S.), DemeTECH Corporation (U.S.), Zimmer Biomet (U.S.), Derma Sciences, Inc., (U.S.), Futura Surgicare Pvt. Ltd. (India) among others.
Verified Market Research has segmented the Global Surgical Suture Market On the basis of Product Type, Material, Applications, End User and Geography.
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