Surgical Sutures Market Value to Reach US$ 6.5 Bn as Governments Eliminate Trade Duties on Medical Devices

Fact.MR combines trend analysis and quantitative forecasting to provide readers with the latest insight of the surgical sutures market. The study contains distinctive information through exhaustive primary and secondary research methodologies. It also includes detailed information about various segments in terms of product type, raw material, source, application, and end-user across seven major regions.

Fact.MR A Market Research and Competitive Intelligence Provider: The global surgical sutures market is expected to reach US$ 6.5 Bn, exhibiting growth at a CAGR of 5.6% during 2021 to 2031, estimates Fact.MR. Rising number of trauma patients are expected to drive the growth in the surgical sutures market.

Surgical sutures have gained immense popularity across the globe owing to ongoing technological advancement in this field. Governments of various countries are also supporting the usage of these products for improving their healthcare facilities.

Additionally, compared to the conventional non-absorbable sutures, the new absorbable ones are the most preferred sutures among surgeons across the globe due to their high Average Selling Price (ASP).

Further, several manufacturers are investing extensively to develop novel electronic, bioactive, antimicrobial, and knotless surgical sutures for the healthcare sector. These new sutures are beneficial in detecting infections or leakages in the wound.

Also, to enable efficient drug delivery to the surgical site, some of the key players have come up with stem cell-seeded and drug-eluting sutures. These factors are anticipated to bolster the surgical sutures market growth in the forecast period.

With governments eliminating restrictions, trade duties, and customs on medical devices by launching new agreements, sales of surgical sutures are expected to witness an uptick through 2021. The Trans-Pacific Partnership (TPP) and the North American Free Trade Agreement (NAFTA) are the two significant examples of such agreements. This has helped the market to generate nearly US$ 20.5 trillion of revenue and the trend is likely to continue over the coming years, declares a Fact.MR analyst.

Request a report sample to gain comprehensive insights at

https://www.factmr.com/connectus/sample?flag=S&rep_id=4065

Key Takeaways:

Growth Drivers:

Restraints:

Request for customization at

https://www.factmr.com/connectus/sample?flag=RC&rep_id=4065

Competitive Landscape

Presence of numerous leading players in the surgical suture market has led to severe competition in the market. Some of these companies are adopting strategies, such as mergers & acquisitions, partnerships, and new product development to gain competitive edge.

Meanwhile, some of the players are teaming up with start-up companies to develop joint ventures to strengthen their positions in the market.

For instance,

Key Players in the Surgical Sutures Market Include:

More Valuable Insights on Surgical Sutures Market

Fact.MR provides an unbiased analysis of the surgical sutures market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global surgical sutures market with a detailed segmentation on the basis of:

Product Type

Raw Material

Source

Application

End-user

Region

Key Questions Covered in Surgical Sutures Market Report

Explore Fact.MRs Coverage on the Healthcare Domain

Absorbable Surgical Sutures Market Report: Absorbable Surgical Sutures market analysis is done on the basis of product (Polyglycolic Acid sutures, Polyglactin 910, Catgut absorbable sutures, Poliglecaprone 25, Polydioxanonen absorbable surgical sutures)

Polyglyconate Sutures Market Analysis: Polyglyconate Sutures Market Analysis on the basis of Applications (Cardiovascular Surgeries, General Surgeries, Gynecological Surgeries & Orthopedic Surgeries). Rising number of surgeries and augmenting demand for advanced treatment procedures propel the market of polyglyconate sutures market in North America.

Laparoscopic Sutures Market Research: Laparoscopic Sutures Market analysis on the basis of Product type (Stitch Suturing Devices & Laparoscopy Suturing Needles). Laparoscopic needles are expected to hold a large revenue share in the laparoscopic sutures market.

About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range from automotive & industry 4.0 to healthcare, technology to even the most niche categories. 80% of Fortune 1000's trust us in critical decision making.

MarketNgage is powered by Fact.MR our Unified Intelligence Engine, a revolutionary Market Research Subscription platform with a flexible pricing to suit your needs.

You can access all our healthcare research reports by signing up with MarketNgagesMarket Research Subscriptionwith FREE credits. MarketNgage is powered by Fact.MR A Fully integrated research solution for seamless single-window access Widest coverage on emerging markets, nascent products, and disruptive technologies.

Contact:

Mahendra Singh US Sales Office 11140 Rockville Pike Suite 400 Rockville, MD 20852 United States Tel: +1 (628) 251-1583 E: sales@factmr.com

Source: Fact.MR

Read the original:
Surgical Sutures Market to Grow by 5.6% as Application Increases in Knotless and Electronic Products Manufacturing - BioSpace