Report Description
A recent market
intelligence report that is published by Data Insights Partner on the
global Surgical Sutures Market makes an
offering of in-depth analysis of segments and sub-segments in the regional and
international Surgical Sutures Market. The research also emphasizes on the impact of restraints,
drivers, and macro indicators on the regional and global Surgical
Sutures Market `over the short as well
as long period of time. A detailed presentation of forecast, trends, and dollar
values of global Surgical Sutures Market is offered. In accordance with the report, the global
Surgical Sutures Market is projected to
expand by healthy CAGR over 3% during the
period of forecast.
Market Insight, Drivers, Restraints&
Opportunity of the Market:
Surgical suture is medical device used for holding tissue together
after surgery, the application of surgical suture involves the use of a needle
attached to a thread. There are different type of material used for surgical
sutures such as polypropylene sutures, stainless steel, silk and polyester
sutures.
The rapid growth in geriatric population leads to eye disease,
cardiovascular disease, neurological disorders etc., which has increased the
number of surgeries globally
According to The American Geriatrics Society, population of people
over 65 years and older is growing at a high rate in the U.S., and this number
is anticipated to double to 89 million between 2010 and 2050.
Based on these factors in developing geographies, it is expected
that there will be a continuous rise in demand for a variety of surgical
services, including gynecological surgeries (with a projected growth of 45%), and general surgeries (with a projected
growth of 25%).Thus, the increasing geriatric population is expected to boost
the growth of the market.
The number of surgical procedures have been rising over the past few
years. Various factors responsible for the rise are as follows:
Ø Increasing cases of cardiovascular diseases leading to increased
number of cardiac surgeries
Ø Growing interest of people to enhance their physical appearance,
thus increasing the number of cosmetic surgical procedures
Ø Rise in number of trauma conditions as a result of road accidents
and natural disasters
Ø Increasing cases of obesity leading to increased bariatric surgeries
There is a growing adoption of minimally invasive procedures due to
several advantages, such as smaller incisions, less pain and scarring, fewer
complications, shorter hospital stays, and faster recoveries
Ø According to Ethicon US, LLC, approximately 9 million minimally
invasive procedures were performed in the U.S. in 2013 and the number is set to
increase in the near future
Increasing demand for precision surgical sutures and growing number
of manufacturers (especially penetration by local manufacturers who offer
devices at lower prices) in the surgical sutures space has spurred a price war,
which is adversely affecting the bottom line of manufacturers.
Although the shift from high-priced sutures to low-priced sutures
enables distributors to gain higher profit margins, it affects the total
surgical sutures market. Eventually, it also leads to reduced R&D
expenditure by companies, resulting in lack of innovative products.
This ongoing price competition in the market has troubled the
industry, as profits are highly sensitive to even a slight decline in the
average selling price. Due to these factors, price competition has been
considered as a restraint for market growth.
The increasing number of open heart surgeries due to unhealthy life
styles, lack of exercise, being overweight, and smoking will create substantial
opportunity for surgical sutures
Ø In India there are around 30 million people with cardiac disease and
about 2,00,000 open heart surgeries were carried out per year, which is one of
the highest, worldwide
Increasing incidence of open heart surgery leads to growing use of
surgical sutures.
Ø More than half a million patients had open heart surgery in the U.S.
in the past few years that leads to increasing use of surgical sutures
Segment Covered:
This market intelligence
report on the global Surgical Sutures Market encompasses market segments based on product, end user,
application and country.
By
Product the global Surgical Sutures Market has been divided into:
·
Absorbable Sutures
o
Natural Sutures
o
Synthetic
Sutures
·
Non-absorbable Sutures
o
Nylon Sutures
o
Stainless Steel
Sutures
By
Application the global Surgical Sutures Market has been divided into:
·
General
Surgeries
·
Gynecological
Surgeries
·
Cardiovascular
Surgeries
·
Orthopedic
Surgeries
·
Others
By End User the global Surgical
Sutures Market has been divided into:
·
Hospitals
·
Specialty
Clinics
·
Ambulatory
Surgical Centers
By country/region,
the global Surgical Sutures Market has been divided into:
·
North America
(the U.S., Canada),
·
Latin America
(Brazil, Mexico, Argentina and other countries),
·
Europe (Germany,
France, the U.K., Spain, Italy, Russia, and other countries),
·
Asia Pacific
(India, Japan, China, Australia and New Zealand and other countries),
·
Middle East and
Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as:
·
Smith &
Nephew Plc.
·
Acelity L.P.
Inc.
·
Boston
Scientific Corporation
·
Zimmer Biomet
Holdings, Inc.
·
ConMed Corporation
·
Integra
LifeSciences Corporation
·
B Braun
·
Johnson &
Johnson
·
Others
others have been
profiled into detail so as to offer a glimpse of the market leaders. Moreover,
parameters such as Surgical Sutures Market related investment & spending and developments by
major players of the market are tracked in this global report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, IGR-Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis
has been used in this report to present a clear picture of the market. The
study focuses on the present market trends and provides market forecast from
the year 2020-2028. Emerging trends that would shape the market demand in the
years to come have been highlighted in this report. A competitive analysis in
each of the geographical segments gives an insight into market share of the
global players.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the Surgical
Sutures Market, size of the
market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of
forecast: 2020-2028, taking into account 2019 as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, competitive market strategies of leading market players,
emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world Surgical Sutures Market is done by
taking into account various parameters such as company strategies, distribution
strategies, product portfolio, financial performance, key developments,
geographical presence, and company overview
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of Type of models, government
initiatives, marketing tactics and expansion, and technical up gradation
Ø
The world
market for Surgical Sutures caters to the needs of various stakeholders pertaining to this
industry, namely suppliers, manufacturers, investors, and distributors for Surgical
Sutures Market. The research
also caters to the rising needs of consulting and research firms, financial
analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the investment
opportunities in the Surgical Sutures Market
v
Identification
of key factors driving investment opportunities in the Surgical
Sutures Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to
your competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants