What is Driving the Surge in Global Surgical Sutures Market Revenue?

ALISO VIEJO, Calif. - April 8, 2020 - PRLog -- An indispensable part of the medical sciences sector since times immemorial, surgical sutures continue to grow in demand. The increasing volume of surgeries, rapid growth in the number of hospitals, rising prevalence of chronic diseases, surging aging population, and burgeoning healthcare expenditure are some of the key factors driving the growth of the surgical sutures market. Sutures can be defined as the medical devices that are used either during a surgery or after it, to hold the tissues together, close the wounds, and stop the bleeding.

On the basis of product, the global surgical sutures market (https://www.psmarketresearch.com/market-analysis/surgical-sutures-market) is bifurcated into automated suturing devices and sutures. Owing to their shorter operating time and comparatively easier handling, automated suturing devices are projected to experience faster growth during the forecast period. However, the market will be led by sutures, which include several kinds of synthetic and natural absorbable sutures and numerous non-absorbable products made of stainless steel, prolene, and nylon.

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Depending on application, the surgical sutures market is divided into orthopedic surgeries, gynecological surgeries, cardiovascular surgeries, general surgeries, ophthalmic surgeries, and others. Out of these, the general surgeries division, mainly due to the rapidly increasing demand for breast surgeries, pediatric surgeries, oncological surgeries, and aesthetic surgeries, is expected to experience the fastest growth during the forecast period. As per the World Bank, the U.S. had a surgery rate of 30,537 per 100,000 people in 2012, while Australia's 2015 rate was 28,907 per 100,000 people.

Since chronic diseases can be difficult to cure with medication or prevent with vaccines, surgery becomes an effective option for their management, which leads to a rise in the demand for various types of sutures. For instance, according to the British Lung Foundation, around 2% of the U.K.'s population lives with chronic obstructive pulmonary disease (COPD), which usually requires surgery, thereby driving the growth of the global surgical sutures market.

Owing to the booming population, increasing health issues, and rising healthcare expenditure by governments, especially in emerging economies, such as India, China, and Brazil, the key players in the surgical sutures market are witnessing significant growth opportunities. Furthermore, a constant increase in the per capita income and standard of living in these countries has raised the purchasing power of people, thereby making surgeries more affordable. Subsequently, lucrative opportunities have been created for the players, to augment their revenue and expand their geographical footprint.

Based on the above factors, it can be concluded that the market will witness remarkable growth in the coming years.