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The demand for surgical sutures has been high throughout the historical period across all regions because they are used after every surgery to bind incisions made by surgeons. With the onset of the COVID-19 pandemic, government spending in the healthcare sector has increased in almost every country, which has allowed more institutions across the world to work with better equipment. Over time, improving research and development in the pharmaceutical or healthcare sector has allowed better sutures to be developed which can be easily bound or removed or have antimicrobial properties. Across the world, the increasing network of hospitals is allowing access to greater numbers of people, which is expected to increase the demand for surgical sutures everywhere. The North American region leads the market for sutures because of a good network of healthcare facilities and a strong infrastructure of research as well. High growth may be expected in Asia Pacific, especially emerging economies with large populations like China, India, and Indonesia, where there is a good potential for expansion to untapped populaces.
Medtronic plc (NYSE: MDT), an American company with headquarters in Ireland, is a major player in the medical device market which also supplies sutures. Over the course of the past five years, the growth shown in its stock prices have been consistently increasing, except for a dip during the COVID-19 lockdown period in March, and since then, it has been rising fairly regularly. This is expected to mirror the changes in the market for surgical sutures.
Market Analysis by Product, Filament, Sector, End-Use and Regions:
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The major players in the global surgical sutures market are Medtronic plc, B. Braun Melsungen AG, Johnson & Johnson Services, Inc., Teleflex Incorporated, Smith & Nephew, DemeTECH Corporation, and Internacional Farmacéutica S.A. de C.V., amongst others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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