With the developments and innovations in technology, the medical industry has come a long way from what it was a few decades back. Surgical sutures, popularly known as stitches are devices used in the medical surgeries for holding the wounded body tissues together that get ruptured in an injury. These sutures have seen a variety of shapes, sizes, and materials as and when it developed further.
The global Market for Surgical Sutures is estimated to witness a CAGR of 4.2%, reaching USD 3.59 Billion from USD 2.80 Billion over the forecast period. The North American market took up the largest share of the global market for surgical sutures among regions, with the U.S. emerging as the leading market among countries. Europe emerged as the second-largest market for surgical sutures after North America, with Germany being the dominant region, followed by Asia-Pacific, in which Japan is the largest market.
Download PDF Brochure @ http://www.marketsandmarkets.com/pdfdownload.asp?id=18374832
Key Driving Factors
The major factors responsible for the growth of this market are:
- Growing number of surgical cases worldwide
- Increasing healthcare expenditure
- Positive scenarios of reimbursement
The increase in the number of surgical cases can be attributed to the improvised healthcare facilities, such as growing number of hospitals, clinics, and operating facilities, especially in countries with developing economy. Increased disposable income has led to the tremendous rise in healthcare expenditure, resulting in more number of surgeries, thereby boosting the growth of the surgical sutures market.
In developed nations, the growth of this market is mainly due to the rising aging population, which in turn calls for an increased demand for all kinds of surgical procedures, especially cardiovascular, orthopedic, urological, and dermatological procedures.
Advancements in technologies, growing aging population, suitable regulations and policies, and the high disposable income have contributed to the growth of this market in the Americas and Europe. The market in the Asia-Pacific is anticipated to show significant growth, owing to the growing medical tourism industry, rising population in China and India, unmet healthcare needs, increasing cases of chronic diseases that require surgical procedures, and suitable reimbursement methods.