General Surgeries Segment to Grow at Faster CAGR During 2018–2025
According to our new research study on “Surgical Sutures Market Forecast To 2025 - Global Analysis - by Product, Application, and Geography,” the surgical sutures market size is expected to reach US$ 4,503.3 million by 2025 from US$ 3,274.8 million in 2019; it is estimated to grow at a CAGR of 5.4% during the forecast period. The report highlights trends prevailing in the market and the factors driving and hindering the surgical sutures market growth.
The growth of the global surgical sutures market is attributed to a rise in the number of governments supports in the healthcare industry, an increase in aesthetic surgeries, a rising number of surgeries, and an emphasis on medical tourism. However, the developments in the alternates of sutures and the impact of COVID-19 on the suture industry are the major factors hindering surgical sutures market growth.
Surgical Sutures Market Forecast to 2025 - Global Analysis by Product (Absorbable and Non-Absorbable) and Application (Cardiovascular Surgeries, Gynecological Surgeries, Ophthalmic Surgeries, Orthopedic Surgeries, General Surgeries, and Others)
Surgical Sutures Market Forecast Report - Size & Growth 2025
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Based on application, the global surgical sutures market is segmented into cardiovascular surgeries, gynecological surgeries, ophthalmic surgeries, orthopedic surgeries, general surgeries, and others. The cardiovascular surgeries segment held the largest share of surgical sutures market in 2019. However, the general surgeries segment is estimated to register the highest CAGR during the forecast period. Cardiovascular surgery requires sutures made of stainless steel and others. Sutures are used with the needle made from grades of alloy steel, which are much more fine, strong, and shaped than regular 420 grades steel. Various cardiovascular procedures require surgical sutures during surgeries, including coronary artery bypass grafting, heart valve repair or replacement, arrhythmia treatment, and others. The market for cardiovascular surgery is likely to grow during the forecast period owing to factors such as the increasing incidence of diabetes and the growing geriatric population. In addition, to these factors, the rise in the number of cardiovascular diseases in the younger population due to the changing lifestyle and habit of drinking and smoking is likely to boost the surgical sutures market growth.
The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. Due to this, the healthcare industry witnessed a drop in growth. The COVID-19 pandemic has caused unintended consequences of severe delays in diagnosing and treating various diseases. As the pandemic has negatively affected the healthcare industry, the medical aesthetic industry has also been highly affected.
Regulatory bodies in various regions took preventive measures, such as complete quarantine and shutting down business operations. In March 2020, the European Medicines Agency established a managing committee to deal with the impact of COVID-19 on the supply chain of medicines and devices. The Italian government imposed drastic and stringent curbs that severely hampered the industrial sector. As per the CNBC reports in March 2020, approximately 5 million companies worldwide were hampered in achieving targets and revenue generation in their quarterly revenue. These implications negatively impacted the suture manufacturing industry as the number of patient admissions for undertaking a choice treatment such as aesthetic, cosmetic, and plastic surgeries dropped drastically. In the aesthetic industries, aesthetic procedures & beauty treatments were canceled for a limited time to prevent infection transmission. Due to the suspension of all non-urgent surgical cases worldwide, many doctors' practices were negatively affected, especially those of plastic surgeons, aesthetic/aesthetic-plastic surgeons.
Furthermore, the shutdown of production and research units further hampered the cosmetic and aesthetic device manufacturing and product availability in the market, thereby slowing down the growth of the surgical sutures market. Thus, with respect to the above-mentioned factors, the pandemic impacted the surgical sutures market growth.
B. Braun Melsungen AG; Medtronic; Ethicon USA, LLC; Smith & Nephew; Atramat; Demetech Corporation; Sutures India; Péters Surgical; Teleflex Medical OEM; and Serag-Wiessner GmbH & CO. KG are among the leading companies operating in the global surgical sutures market.
The report segments the surgical sutures market as follows:
Based on the product, the surgical sutures market is segmented into absorbable and non-absorbable. Based on application, the surgical sutures market is segmented into cardiovascular surgeries, gynecological surgeries, ophthalmic surgeries, orthopedic surgeries, general surgeries, and others. Based on geography, the surgical sutures market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, and the UK), Asia Pacific (China, Japan, and India), the Middle East & Africa (Saudi Arabia, South Africa, and the UAE), and South & Central America (Brazil).
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