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Global Surgical Sutures Market to Grow at a CAGR of 5.5% During 2021-2026, Driven by Increasing Investments

According to a new report by EMR titled, ‘Global Surgical Sutures Market Report and Forecast 2021-2026’, the market attained a value of about USD 4.5 billion in 2020. The industry is further expected to grow at a CAGR of 5.5% in the forecast period of 2021-2026 to reach a value of USD 10.7 billion by 2026.

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:

  • The market on the basis of product can be divided into suture threads and automated suturing devices. Absorbable sutures can be divided into natural and synthetic, whereas nonabsorbable sutures can be further divided into nylon, polypropylene, and silk, among others. Automated suturing devices can be segmented into disposable and reusable.
  • Based on filament, the industry can be divided into monovalent structures and multivalent structures.
  • The sectors for surgical sutures include general surgery, cardiovascular surgery, orthopaedic surgery, gynaecological surgery, and cosmetic and plastic surgery, amongst others.
  • The end-uses for surgical sutures were segmented into hospitals and ambulatory surgical centres, amongst others.
  • The regional markets for surgical sutures include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • There has been rapid growth in the surgical sutures industry because of increasing government expenditure in the healthcare sector.
  • Easy availability of surgical sutures through e-commerce websites is boosting their sales.
  • Greater R&D in the healthcare sector is expected to positively impact the quality of sutures. 
  • Increasingly denser networks of the healthcare industry in densely populated countries have been tapping into a previously untapped market for surgical sutures.

Key Offerings of the Report:

  • The EMR report gives an overview of the global surgical sutures market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the product, filament, sector, end-use and regions of surgical sutures.
  • It assesses the regional price trends for the (2016-2020) and (2021-2026) periods. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

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.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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