August 12, 2022 10:14 ET | Source: Precedence Research Precedence Research
Los Angeles, Aug. 12, 2022 (GLOBE NEWSWIRE) -- The global surgical suture market size was estimated at USD 4.74 billion in 2022. The rapidly increasing number of surgical procedures that are carried out all over the world has boosted the market for surgical sutures to a great extent. The presence of advanced healthcare facilities which are provided by the government of various countries has also encouraged the surgical sutures market tremendously. Various new products that are available in the market for facilitating wound healing process has boosted the economy for surgical sutures to a great extent.
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The key market players are constantly striving to introduce new products into the market for attracting the potential consumers which will help to boost the market for surgical sutures during the forecast period.
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The geographical sector of North America has emerged as the largest market for surgical sutures which has resulted from the huge number of surgical procedures that are carried out in this region. The presence of advanced healthcare facilities which are supplied by the government in the form of reimbursement services provided by the insurance companies has helped people to opt for advanced surgical suturing procedures and equipments. Huge number of people belonging to the geriatric population has also boosted the number of surgical procedures that are carried out in this region.
The health care facilities which are provided by the European nations to their citizens has also boosted the demand for advanced technologies and equipments in the surgical suture market. The demand for faster wound healing has also boosted the market in this region. The developing nations which belong to the Asia Pacific region have also shown a considerable contribution to the growth of the surgical suture market.
The advanced surgical suture options which are introduced into the market by the key market players has emerged as a major driving force for the growth of the surgical suture market. The availability of various surgical suturing materials which facilitate healing with minimal chances of sepsis has boosted the market of surgical sutures to a great extent. Increasing research and development programs carried out by the key market players to introduce modern surgical options has driven the market to great heights.
Lack of awareness among the people regarding the available suturing options in the market has hampered the growth of the market to a great extent. Variable policies offered by the insurance companies regarding the suturing materials has proved to be a restraining factor for the market. A major obstacle that has hindered the growth of the market is the total cost of surgical treatment which increases tremendously with the use of advanced equipment and materials. Availability of multiple wound healing options in the market has restrained the growth of surgical sutures which might hamper the market during the forecast period.
The emerging underdeveloped countries have proved to be a major opportunity for the surgical sutures market as the advanced facilities which have been recently provided to the people is encouraging them to opt for such technologies. The increasing number of surgical procedures that are carried out in these countries is providing great opportunity to the key market players. The backup and support provided by the government in the form of reimbursement facilities has boosted the economy for surgical suture market. The huge investment made by the key market players with a view to launch advanced facilities and suturing materials into the market has emerged as a major opportunity.
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The high cost of advanced surgical suturing materials makes it impossible for the common man to opt for such technologies which in turn challenges the growth of the market during the forecast period. The existence of alternative surgical care management options in the market has challenged the growth of surgical sutures considerably. The increasing risk of sepsis with the use of surgical sutures has hindered the growth of the market to a great extent. The presence of topical adhesives which are applied on the skin to facilitate faster healing has hindered the market growth of surgical sutures.
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