Market Highlights
Dissolvable sutures are stitches that doctors and surgeons, use to hold skin, internal organs, blood vessels, and all other tissues of the human body together, after the injury, incision, or surgery. These sutures have an anticipated advantage as they are broken down in the body tissue after a given period, and no foreign material is left inside the patient’s body.
The global dissolvable sutures market is driven by the growing aging population, increasing incidences of chronic diseases, rising healthcare expenditure, increasing number of surgeries and burns, and rising number of hospitals. In addition, immense technological advancements in material science and increasing occurrences of musculoskeletal diseases are likely to propel the market growth during the forecast period.
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Global Dissolvable Sutures Key Players
Braun Melsungen AG, Boston Scientific Corporation, DemeTECH Corporation, ENDOEVOLUTION LLC, Hu-Friedy Mfg. Co., LLC, Internacional Farmacéutica S.A. De C.V., Johnson & Johnson Services, Inc., Medline Industries, Inc., Medtronic, Péters Surgical, Roboz Surgical Instrument Co., Smith & Nephew, Surgical Specialties Corporation, and Sutures India Private Limited are prominent players in the global dissolvable sutures market.
Despite the drivers, the development of advanced wound care dressings and availability of alternatives such as surgical staplers and complications such as hemorrhage and leakage especially in esophageal and colonic anastomosis are a few factors restraining the growth of the dissolvable sutures market? Furthermore, stringent government regulations and increasing preference for minimally invasive surgical procedures are the constraints limiting the market growth.
Many prominent players currently dominate the global dissolvable sutures market. For instance, in April 2017 Medtronic Plc signed an agreement to divest a portion of its patient monitoring & recovery division to Cardinal Health for 6.1 USD billion. In this agreement, the company intends to include 17 dedicated manufacturing facilities among the product line such as dental/animal health, chart paper, wound care, incontinence, electrodes, and sharp safety offerings.
Moreover, the Surgigut gut sutures by Medtronic are made up of purified connective tissue derived serosal layer of bovine intestines. The other Medtronic dissolvable sutures include VELOSORB fast braided absorbable sutures, CAPROSYN monofilament absorbable suture, and POLYSORB braided absorbable sutures.
In January 2016, Surgical Specialties Corporation acquired FSSB Chirurgische Nadein GMBH, a German manufacturer of surgical needles and sutures. With the acquisition, the company expanded its surgical products portfolio. Further, in September 2015, Smith & Nephew launched NASASTENT Dissolvable Nasal Dressing, a structural intranasal splint for use in sinus surgery.
Regional Analysis
The global dissolvable sutures market consists of four regions, namely, Americas, Europe, Asia Pacific, and the Middle East and Africa. North America holds the highest market share in the global dissolvable sutures market owing to the higher adoption of technologically advanced products for surgical procedures in the region, increase in the prevalence of various chronic diseases, and the development of the wound management sector. In addition, according to the Centers for Disease Control and Prevention, in 2015, an approximate 2.8 million people were hospitalized due to injuries in the United States.
Europe holds the second position in the global dissolvable sutures market. The availability of funds for research, increasing healthcare spending, huge patient population, and government support for research and development drive the European market. For instance, according to the National Statistics in 2015, the healthcare spending in the U.K. reached 271.6 USD billion in 2015 from 262.2 USD billion in 2014. Furthermore, the presence of developed countries such as Germany and the U.K. within the region is expected to fuel the market growth during the forecast period.
Asia Pacific is experiencing the fastest growth for the global dissolvable sutures market owing to the increasing prevalence of cardiac diseases, rising obese pool, and geriatric population. India and China dominate the market for dissolvable sutures in the Asia Pacific region. According to World Health Organization, over 1,000,000 people are moderately or severely burnt every year in India. In addition, availability of significant growth opportunities for prominent players due to improved healthcare infrastructure, the rise in healthcare awareness, surge in demand for better healthcare, and developing the medical tourism industry also fuel the growth of the market.
The Middle East and Africa holds the lowest share of the global market due to low development, lack of technical knowledge, and poor medical facilities, especially in the African region.
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