Growing Surgery Volume Behind Robust Advance Of Surgical Sutures Market

By Author: Pramod Kumar
Total Articles: 97
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An indispensable part of the medical sciences sector since times immemorial, surgical sutures continue to grow in demand. The increasing volume of surgeries, rapid growth in the number of hospitals, rising prevalence of chronic diseases, surging aging population, and burgeoning healthcare expenditure are some of the key factors driving the growth of the surgical sutures market. Sutures can be defined as the medical devices that are used either during a surgery or after it, to hold the tissues together, close the wounds, and stop the bleeding.

On the basis of product, the global surgical sutures market is bifurcated into automated suturing devices and sutures. Owing to their shorter operating time and comparatively easier handling, automated suturing devices are projected to experience faster growth during the forecast period. However, the market will be led by sutures, which include several kinds of synthetic and natural absorbable sutures and numerous non-absorbable products made of stainless steel, prolene, and nylon.

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Depending ...
... on application, the surgical sutures market is divided into orthopedic surgeries, gynecological surgeries, cardiovascular surgeries, general surgeries, ophthalmic surgeries, and others. Out of these, the general surgeries division, mainly due to the rapidly increasing demand for breast surgeries, pediatric surgeries, oncological surgeries, and aesthetic surgeries, is expected to experience the fastest growth during the forecast period. As per the World Bank, the U.S. had a surgery rate of 30,537 per 100,000 people in 2012, while Australia’s 2015 rate was 28,907 per 100,000 people.

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For instance, in 2015, the U.S. had 5,564 registered hospitals, as per the American Health Association. Similarly, the Indian government estimated the number of government hospitals in the country, for 2013, at 35,416. Further, according to the Australian Institute of Health and Welfare, the nation had 1,322 hospitals in 2014. Thus, with a rise in the number of such healthcare centers, where the surgery volume is always high, this end user will continue dominating the market in the coming years.

Owing to the booming population, increasing health issues, and rising healthcare expenditure by governments, especially in emerging economies, such as India, China, and Brazil, the key players in the surgical sutures marketare witnessing significant growth opportunities. Furthermore, a constant increase in the per capita income and standard of living in these countries has raised the purchasing power of people, thereby making surgeries more affordable. Subsequently, lucrative opportunities have been created for the players, to augment their revenue and expand their geographical footprint.

Based on the above factors, it can be concluded that the market will witness remarkable growth in the coming years.

Pramod has around 7 years of experience in market research and consulting services for healthcare industry. He holds varied experience in market sizing and forecasting with varied models, competition landscape, consumer behavior analysis, opportunity analysis, product/company benchmarking, data mining and others. He has successfully delivered multiple projects on go-to-market strategies, pricing strategy, price point analysis, Business Expansion, market entry and exit, share analysis and others. Prior to joining P&S Intelligence, he worked with different research companies, including Transparency Market Research and MarketsandMarkets Pvt Ltd. Some of the projects delivered by him include Scar Treatment Market, Skin Replacement and Substitutes Market, and Energy-Based Aesthetic Devices Market.