A recent market intelligence report that is published by Data Insights Partner on the global Surgical Sutures Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Surgical Sutures Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Surgical Sutures Market `over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Surgical Sutures Market is offered. In accordance with the report, the global Surgical Sutures Market is projected to expand by healthy CAGR over 3% during the period of forecast.
Market Insight, Drivers, Restraints& Opportunity of the Market:
Surgical suture is medical device used for holding tissue together after surgery, the application of surgical suture involves the use of a needle attached to a thread. There are different type of material used for surgical sutures such as polypropylene sutures, stainless steel, silk and polyester sutures.
The rapid growth in geriatric population leads to eye disease, cardiovascular disease, neurological disorders etc., which has increased the number of surgeries globally
According to The American Geriatrics Society, population of people over 65 years and older is growing at a high rate in the U.S., and this number is anticipated to double to 89 million between 2010 and 2050.
Based on these factors in developing geographies, it is expected that there will be a continuous rise in demand for a variety of surgical services, including gynecological surgeries (with a projected growth of 45%), and general surgeries (with a projected growth of 25%).Thus, the increasing geriatric population is expected to boost the growth of the market.
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The number of surgical procedures have been rising over the past few years. Various factors responsible for the rise are as follows:
Ø Increasing cases of cardiovascular diseases leading to increased number of cardiac surgeries
Ø Growing interest of people to enhance their physical appearance, thus increasing the number of cosmetic surgical procedures
Ø Rise in number of trauma conditions as a result of road accidents and natural disasters
Ø Increasing cases of obesity leading to increased bariatric surgeries
There is a growing adoption of minimally invasive procedures due to several advantages, such as smaller incisions, less pain and scarring, fewer complications, shorter hospital stays, and faster recoveries
Ø According to Ethicon US, LLC, approximately 9 million minimally invasive procedures were performed in the U.S. in 2013 and the number is set to increase in the near future
Increasing demand for precision surgical sutures and growing number of manufacturers (especially penetration by local manufacturers who offer devices at lower prices) in the surgical sutures space has spurred a price war, which is adversely affecting the bottom line of manufacturers.
Although the shift from high-priced sutures to low-priced sutures enables distributors to gain higher profit margins, it affects the total surgical sutures market. Eventually, it also leads to reduced R&D expenditure by companies, resulting in lack of innovative products.
This ongoing price competition in the market has troubled the industry, as profits are highly sensitive to even a slight decline in the average selling price. Due to these factors, price competition has been considered as a restraint for market growth.
The increasing number of open heart surgeries due to unhealthy life styles, lack of exercise, being overweight, and smoking will create substantial opportunity for surgical sutures
Ø In India there are around 30 million people with cardiac disease and about 2,00,000 open heart surgeries were carried out per year, which is one of the highest, worldwide
Increasing incidence of open heart surgery leads to growing use of surgical sutures.
Ø More than half a million patients had open heart surgery in the U.S. in the past few years that leads to increasing use of surgical sutures
This market intelligence report on the global Surgical Sutures Market encompasses market segments based on product, end user, application and country.
By Product the global Surgical Sutures Market has been divided into:
o Natural Sutures
o Synthetic Sutures
o Nylon Sutures
o Stainless Steel Sutures
By Application the global Surgical Sutures Market has been divided into:
By End User the global Surgical Sutures Market has been divided into:
By country/region, the global Surgical Sutures Market has been divided into:
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Surgical Sutures Market related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter's five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
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Ø This study offers comprehensive yet detailed analysis of the Surgical Sutures Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Surgical Sutures Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Surgical Sutures caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Surgical Sutures Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Surgical Sutures Market
v Identification of key factors driving investment opportunities in the Surgical Sutures Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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