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The global surgical sutures industry is being driven by the increased prevalence of road traffic crashes worldwide. In addition, with the increasing spread of chronic illnesses worldwide, along with the growing geriatric population, governments are increasingly investing in healthcare infrastructure to reduce the mortality risks associated with chronic illnesses. Moreover, the increased utilisation of monofilament sutures in various surgeries due to its excellent tensile strength, pliability, and flexibility is a major factor contributing to the market growth.
The growing focus of the leading healthcare and medical technology companies to enhance their medical surgical portfolio by incorporating advanced technologies and clinical solutions is predicted to positively impact the growth of the surgical sutures industry. For instance, In March 2021, Boston Scientific Corporation (NYSE: BSX) entered a definitive agreement to acquire the global surgical business of Israeli company Lumenis. This is expected to help Boston Scientific to expand its global footprint throughout Europe and Asia. In addition, in June 2021, Medtronic plc (NYSE: MDT), a leading medical technology company, announced the first patient procedure performed in Chile with its Hugo robotic-assisted surgery (RAS) system. The Hugo RAS system involves wristed instruments, 3D visualisation, and a powerful surgical video capture option. These developments are expected to aid the growth of the surgical sutures industry in the forecast period.
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The major players in the global surgical sutures market are Braun Melsungen AG, Boston Scientific Corporation, ConMed Corporation, DemeTECH Corporation, Surgical Specialties Corporation, and 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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