Surgical Sutures Market Comprehensive Analysis: Check Latest Strategic Moves of Emerging Players
In the last few years, some of the major technological advancements have taken place in the global surgical suture market. Such industrial activity has led to increased product adoption of surgical sutures and demand. In comparison with other wound closure products available in the market, the usage of surgical sutures has increased fairly well. Some of the technical advancements that have been incorporated in these sutures include the use of different kinds of synthetic materials with exceptional tissue holding properties and almost zero risk of infection and scar formation.
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Additionally, there have been ongoing developments to improve suture coatings, braiding technologies, and antibacterial coatings. Currently in the market, only one product named Triclosan-coated polyglactin 910 or Vicryl Plus Antibacterial developed by Ethicon is available, which has been found to reduce surgical site infection rate by 30 per cent. Besides, handling and tension force of these sutures was found to be comparable to standard surgical suture products.
Over the years, increase in the number of surgical procedures has led to further expansion of the healthcare industry, with establishments such as hospitals and ambulatory surgical centers growing. It has also resulted in increased end-user demand for surgical devices including surgical sutures. Furthermore, growing number of veterinary and specialized clinics is also driving the growth of the market of surgical sutures. According to National Centre for Health Statistics, in 2009, around 48 million surgical procedures were carried out in the United States.
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Growing number of trauma patients as well as upsurge in hospitals and other healthcare centres is also anticipated to increase the demand for surgical sutures in the forecast period.
Many Asian countries have evolved to exhibit steady regional growth with improvement in healthcare infrastructure. Countries such as India and China, with their favorable government support are expanding their National Health Insurance to cover more treatment procedures including those incorporating surgical sutures. Besides, relaxation in custom duties will also boost the surgical sutures market growth in untapped markets of emerging regions.
In emerging nations, the absorbable sutures segment is anticipated to expand rapidly and could be the main driver behind the growth of the surgical sutures market in countries such as India, China, and Brazil. Increased demand for absorbable surgical sutures, along with high Average Selling Price (ASP) could lead to more dynamic growth of this segment in comparison to traditional non-absorbable ones.
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