The healthcare industry is undergoing rapid transformations since a few years now. Various technological improvements have been witnessed in the segments including diagnosis and treatment options for chronic diseases. The increase in incidences of chronic illnesses and the increasing ageing population are the primary factors fuelling the growth of healthcare segment.
The Surgical Suture market is growing along with the healthcare industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
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European surgical suture market is estimated to grow at a CAGR of 5.8% during the forecast period from 2018 to 2025. The market for surgical sutures is estimated to reach US$ 1,328.5 Mn in 2025. The market has been witnessing a gradual growth rate during the previous years and is expected to witness similar trend in the coming years. Additionally, manufacturers are focusing towards product innovation in the material used for manufacturing the sutures by means of research and development activities.
The market for surgical sutures is well established in European market due to rise in the demand for surgical sutures in the region. The market is anticipated to increase during the forecast years owing to factors such as increase in the number of surgical procedures in the region. In the European market United Kingdom holds the largest market for the surgical sutures owing to the factors such as rise in the number of surgeries for the cardiovascular diseases. In addition, British Heart Foundation (BHF) piloted innovative health programs for improvising services for people living with CVD or at risk of CVD. Furthermore, the National Health Service (NHS) in England provided a scheme that helped patients to get benefited with the innovative products. Therrefore, an innovation of plus surgical suture was done that aim to reduce the risk of infection such as Methicillin-resistant Staphylococcus aureus (MRSA) which can cause serious skin infections or infect surgical wounds. These factors are expected to offer broad growth opportunities in the healthcare industry and this is expected to cause the demand for Surgical Suture in the market.
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The major players operating in the of surgical sutures in Europe include, B. Braun Melsungen AG, Medtronic, Ethicon USA, LLC, Smith & Nephew, Atramat, Demetech Corporation, Sutures India, Péters Surgical, Teleflex Medical OEM, Serag-Wiessner GmbH & CO. KG among others.
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