Government Support for Healthcare Industry is Driving the Market for Surgical Sutures over the Forecast Period.
According to a new market research study titled ‘Surgical Sutures Market to 2025 – Europe Analysis and Forecasts by Product, and Application, the Europe surgical sutures market was valued at US$ 844.6 Mn in 2017 and is estimated to reach US$ 1,328.5 Mn by 2025. The report highlights the trends prevalent in the Europe surgical sutures market and the factors driving the market along with the factors that are restraining the growth of surgical sutures market.
The Europe surgical sutures market is expected to witness growth in the coming years. The government support for the healthcare industry is driving the growth of the surgical sutures market. The increase in the support for the healthcare facilities and the infrastructure for the healthcare service centers by the government are improving and up grading the advancement for the instruments, equipment and other products. For instance, European Association of the Surgical Suture Industry (EASSI) serves as platform for sharing the information and setting specific rules & regulations, standards and initiatives for healthcare sectors. The EASSI dedicates to fulfill some of the objectives which include representation of member’s interest in national and international standardization projects, to formulate the common classes with respect to matters of EASSI and to initiate harmony for regulations and standards. Therefore, the government support for the healthcare industry is likely to drive the market for the surgical sutures in the forecasted period.
In addition, to the government support rise in the number of the surgeries are leading to the growth of the surgical sutures market. In Europe the conditions and symptoms that are leading causes for the rise in the diabetic cases, lifestyle changes and more are likely to increase number of cardiovascular surgeries and general surgeries. Since the past 25 years, the number of cardiovascular incidences have increased in European Nations. The addition in the cardiovascular incidences are observed in most of the countries in this region. According to the European Cardiovascular Disease Statics in 2015, near about 85 Mn people in Europe and 49 Mn in EU suffered with cardiovascular diseases. In addition to the cardiovascular surgeries rise in the general surgeries have also increased due to the factors such as rise in the number gynecological surgeries and increase in the number of the orthopedic surgeries are driving the growth for the surgical sutures market in the coming future.
The market of surgical sutures in Europe is anticipated to grow from US$ 844.6 Mn in the year 2017 and is estimated to reach US$ 1,328.5 Mn by 2025 growing at a CAGR of 5.8% over the forecast period. Germany holds the largest market for the surgical sutures market and Germany is the fastest growing market for the surgical sutures in the European market. For instance, the various market players in the sector of suture are developing techniques to introduce various suture that will avoid wounds and infections. For instance, SERAG-WIESSNER suture materials incorporates their recent developments in research and technology.
The surgical sutures market is highly fragmented due to the presence of various local as well as regional players. Some of the key players operating in the Europe surgical sutures market include, B. Braun Melsungen AG, Medtronic, Ethicon USA, LLC, Smith & Nephew, Atramat, Demetech Corporation, Sutures India, Péters Surgical, Teleflex Medical OEM, Serag-Wiessner GmbH & CO. KG among others.
The report segments the Europe Surgical Sutures market as follows:
Europe Surgical Sutures Market – By Product
Polyglactin 910 Sutures
Poliglecaprone 25 Sutures
Polyglycolic Acid Sutures
Stainless Steel Sutures
Europe Surgical Sutures Market – By Application
Europe Surgical Sutures Market – By Geography
Rest of Europe