Surging Geriatric Population Driving Surgical Sutures Market

In 2016, the global surgical sutures market generated a revenue of $3.5 billion and is predicted to attain $4.7 billion in 2023, advancing at a 4.2% CAGR during the forecast period (2017–2023).
 
ALBANY, Calif. - Feb. 10, 2020 - PRLog -- The market is growing due to the rising prevalence of chronic diseases, increasing healthcare expenditure, surging geriatric population, rising number of surgeries and burn cases, and increasing number of hospitals. Medical devices which are utilized during a surgery or after an individual suffers injury for holding the body tissues together and closing the wounds are referred to as surgical sutures.

When product is taken in consideration, the surgical sutures market (https://www.psmarketresearch.com/market-analysis/surgical-sutures-market/report-sample) is divided into automated suturing devices and sutures. Between the two, the sutures division dominated the market during the historical period (2013–2016) and is predicted to account for the major share of the market during the forecast period as well. The division is further bifurcated into non-absorbable and absorbable sutures. The automated suturing devices is expected to grow at the fastest pace during the forecast period, as these devices save time and need less work.

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Another factor positively impacting the surgical sutures market is the surging aging population. According to the United Nations Department of Economic and Social Affairs report, the number of people aged 60 years or above is predicted to grow by 56%, globally. The elder population goes through various kinds of surgeries such as abdominal & thoracic surgery, heart surgery, hip & knee replacement, non-cardiac surgery, and cataract surgery, which require different kinds of surgical sutures.

Hence, the growing prevalence of chronic diseases, surging geriatric population, and increasing number of hospitals are driving the growth of the market.

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