(PharmaNewsWire.Com, June 04, 2018 ) Global surgical sutures market was valued at US$ XX Mn in 2017 and expected to grow at 5.3% Compound Annual Growth Rate (CAGR) from 2018 to 2024
Market Outline: Surgical Sutures Market
Surgical sutures are the medical devices that are used to hold body tissues together post-surgery or injury. They are usually classified into absorbable surgical sutures and non-absorbable surgical sutures. The absorbable surgical suture will break down harmlessly in the body over time without intervention. While the non-absorbable surgical sutures must be manually removed. Sutures can also be divided basing of material structure i.e. monofilament sutures and multifilament or braided sutures. Monofilament sutures elicit lower tissue reaction compared to braided sutures. Multifilament sutures are braided and often coated with various materials like silicon, wax, PTFE, polycaprolactone, calcium stearate etc.
Market Dynamics: Surgical Sutures Market
Increasing incidence of traffic accidents is the key factor attributing the growth of the surgical sutures market. The use of the surgical sutures is more in the treatment of the accidents. According to World Health Organization (WHO) in 2017, yearly around 1.25 million people die and more than 20 to 50 million people experience severe injuries, due to road traffic crash. The increasing use of the surgical sutures in multiple treatments and growing trend of cosmetic surgeries are anticipated to drive the market growth of the surgical sutures. As per the annual plastic surgery procedural statistics by American Society of Plastic Surgeons (ASPS), there were 15.9 million surgical and minimally-invasive cosmetic procedures performed in the United States in 2015, 2.0% increase over 2014. The growing geriatric population along with growing organ transplantation and cardiovascular surgeries is boosting the growth of the surgical sutures market. However, the growth of the product development is at a slow pace, which is likely to hamper the growth of the surgical sutures market.
Geographically, global surgical sutures market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America surgical sutures market is the dominant market owing increase in the number of surgeries. Rising number of private sector hospitals and developing healthcare infrastructure is anticipated to drive the growth of the surgical sutures market in the region. Europe surgical sutures market is falling next to that of North America. The Asia Pacific surgical sutures market is expected to grow at significant rate over the forecast period owing to the increasing surgical cases and growing trend of plastic surgery.
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