Surgical Suture Market is anticipated to grow at a substantial CAGR from 2019 to 2030.
Market Industry Reports (MIR) has published a new report titled “Surgical Suture Market Global - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global surgical suture market is was worth USD 3.8 Billion in 2018 and it is anticipated to grow at a substantial CAGR from 2019 to 2030.
The global surgical suture market is witnessing a steady growth mainly due to the rise in number of surgical procedures conducted globally. Furthermore, growing aging population and increasing incidence of chronic diseases are further expected to contribute to the stable growth of the global surgical suture market from 2019 to 2030. According to the report published by World Health Organization (WHO), chronic disease pervasiveness is expected to increase by 57% by 2020 and according to the from World Population Prospects, the number of older persons, who are 60 years or above, is anticipated to be more than double by 2050.The product portfolio of the existing substitute wound closure products may hinder the growth of this market.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Surgical Suture Market by Product(Absorbable Sutures, Surgical Sutures Filament and Non-Absorbable Sutures), Application(Cardiovascular Surgeries, Gynecological Surgeries, Orthopedic Surgeries, Neurological Surgery General Surgeries and Other Surgeries),End User (Hospitals, Ambulatory Surgical Centers and Clinics & Physician Offices) Global Analysis & Forecast 2019 - 2030. in detail along with the table of contents:https://www.marketindustryreports.com/surgical-suture-market/65
Growing Medical Tourism
There is an increase in the number of patients traveling to other countries to receive medical treatment. This trend of medical tourism is expected to grow significantly during the forecast period. There are several reasons for swift growth in the medical tourism. Some of them are the demand to cure degenerative conditions such as joints, heart failure etc., unavailability of procedures many locations, rising demand for high quality medical care. Furthermore, increase in cost of medical treatments in developed countries, the increase in number of chronic diseases is estimated to boost medical tourism. It is further expected that the number of medical tourists travelling abroad seeking treatments will additionally increase at a rate of 25% every year. Rise in medical tourism translates to higher surgical volumes, which in turn is expected to propel the surgical suture market.
Rising Surgical Procedures
There is a perpetual rise in the number of surgical procedures across the globe. There has been a significant rise in health awareness among population and ample measures have introduced appropriate and effective treatments for diseases. Steady rise in geriatric population that requires medical attention and surgery to treat several aliments is fueling the demand for surgeries, thus boosting the growth of the global surgical suture market. Sutures enable the surgeons to undertake challenging and complex surgical procedures and help them to close cutaneous wounds in the course of surgeries.
Growing Demand for Advanced Wound Closure Materials
Advanced wound care and closure products are emerging as a standard solution for curing chronic wounds. There is an increased preference for advanced wound care and closure products over traditional wound care and closure products. The preference is growing due to the efficacy and effectiveness of the advanced products for managing wounds and enable faster healing. This factor is expected to hinder the growth of the global surgical suture market during the forecast period.
Rapid Growth of the Asia Pacific Market
Asia-Pacific is expected to witness the highest CAGR during the forecast period. Growth in medical tourism industry, rise in the prevalence of chronic diseases requiring surgical intervention, low cost of surgeries, rise in knowledge of surgical sutures among doctors and surgeons etc. is anticipated to boost lucrative growth in the Asia-Pacific region.
Major Players in Surgical Sutures Market
The leading players in the global surgical sutures market are B. Braun Melsungen AG, Medtronic, Ethicon LLC, Zimmer Biomet, Teleflex Incorporated, Conmed Corporation, Peters Surgical, Smith and Nephew, BSN Medical and DemeTECH Corporation among others.
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