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Absorbable Sutures Market size to grow by USD 622.72 million from 2022 to 2027 | The number of surgical procedures globally drives market growth - Technavio
Tuesday, September 12, 2023
NEW YORK, Sept. 4, 2023 /PRNewswire/ -- The absorbable sutures market is to grow by USD 622.72 million from 2022 to 2027 progressing at a CAGR of 4.33% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by an increasing number of surgical procedures globally. Some factors that contribute to the growth in surgery include developments in healthcare technology, increasing access to healthcare, and changing demographics. The safety and efficiency of surgical procedures have been enhanced by technological progress. Due to its advantages, e.g., reduction in the incidence of trauma and reduced recovery time, minimally invasive techniques, robotics-assisted surgery, or new surgical approaches are gaining popularity. There is a need for more surgical procedures due to an increase in the incidence of these diseases. In these procedures, the deployment of absorbable sutures is essential for wound closure and tissue approximation. Hence, these factors are expected to drive market growth during the forecast period. Download Sample Report in minutes!
The report on the absorbable sutures market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as company analysis.
Absorbable Sutures Market 2023-2027 - Market Dynamics
Major Trends
The rising demand for absorbable sutures from emerging economies is a major trend in the market. As developed countries move towards advanced techniques for wound closure, adhesives, and sealants, emerging economies are playing an essential role in driving the absorbable sutures market. Business expansion is the focus of companies in developing countries with a view to increasing their presence and generating significant revenue. Moreover, these countries are offering medical procedures at low cost, and this will lead to medical tourism as well. Hence, these factors are expected to drive market growth during the forecast period.
Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!
Absorbable Sutures Market 2023-2027 : Market Segmentation
The absorbable sutures market analysis is segmented by type (monofilament sutures and braided sutures), end-user (hospitals, ambulatory surgical centers, and specialty clinics), and geography (North America, Europe, Asia, and Rest of World (ROW)).
-- The market share growth by the monofilament sutures segment will be
significant during the forecast period. Monofilament sutures have a
single filament and do not have braids such as multifilament sutures and
can easily pass through tissues due to low friction, less tissue trauma,
and elicit few reactions. In addition, the smooth edges of monofilament
sutures will also help to reduce tissue irritation and discomfort that
patients experience as they heal. Low bacterial adherence is maintained
by monofilament absorbable sutures, resulting in a lower risk of
colonization and infections at the suture site supporting improved wound
healing outcomes. Hence, these factors are expected to drive segment
growth during the forecast period.
This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report
Companies Mentioned
-- B. Braun Melsungen AG
-- Bactiguard Holding AB
-- Boston Scientific Corp.
-- Boz Tibbi Malzeme Sanayi ve Tic. A.S
-- Centenial Surgical Suture Ltd.
-- CPT SUTURES CO. LTD.
-- DemeTECH Corp.
-- Futura Surgicare Pvt. Ltd.
-- Gunze Ltd.
-- Johnson and Johnson Services Inc.
-- KATSAN KATGUT SANAYI VE TICARET A.S
-- Lux Sutures AS
-- Medtronic Plc
-- META BIOMED CO. LTD.
-- Orion Sutures India Pvt Ltd.
-- Surgical Sutures Pvt. Ltd.
-- Sutumed Corp.
-- Suture Planet
-- Teleflex Inc.
-- Unisur Lifecare Pvt. Ltd.
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Company Offering
-- Centenial Surgical Suture Ltd. - The company offers absorbable sutures
such as CENTENIAL catgut plain and CENTENIAL catgut chromic. It also
offers non-absorbable sutures and medical devices.
-- B. Braun Melsungen AG - The company offers absorbable sutures such as
Monosyn, MonoPlus, and Novosyn.
-- Boston Scientific Corp. - The company offers absorbable sutures such as
Capio SLIM.
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Absorbable Sutures Market Scope
Report Coverage
Details
Base year 2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR Accelerate at a CAGR of 4.33%
Market growth 2023-2027
USD 622.72 million
Market structure
Fragmented
YoY growth 2022-2023(%) 3.95
Regional analysis
North America, Europe, Asia, and the Rest of the World (ROW)
Performing market contribution North America at 46%
Key countries
US, Japan, China, Germany, and the UK
Competitive landscape
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled B. Braun Melsungen AG, Bactiguard Holding AB, Boston Scientific Corp., Boz Tibbi Malzeme Sanayi ve Tic. A.S, Centenial Surgical Suture
Ltd., CPT SUTURES CO. LTD., DemeTECH Corp., Futura Surgicare Pvt. Ltd., Gunze Ltd., Johnson and Johnson Services Inc., KATSAN KATGUT
SANAYI VE TICARET A.S, Lux Sutures AS, Medtronic Plc, META BIOMED CO. LTD., Orion Sutures India Pvt Ltd., Surgical Sutures Pvt. Ltd.,
Sutumed Corp., Suture Planet, Teleflex Inc., and Unisur Lifecare Pvt. Ltd.
Market dynamics Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and
recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview
If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments.
Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End User
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Email: media@technavio.com
Website: www.technavio.com
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