The latest study on the Surgical Sutures Materials
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Global Surgical Sutures Materials & Packaging Market is Estimated to be Around US$ 903 Mn in 2019 & is Likely to Register a CAGR of 4.7% Between 2019 to 2030
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The global Surgical Sutures Materials and Packaging market is a structured market and is largely governed by prominent players such as
· DuPont de Nemours, Inc. (DuPont)
· Harro Höfliger Verpackungsmaschinen GmbH
· Körber Medipak Systems GmbH
· Oliver
· KOCH Pac-Systeme GmbH
· Monadnock Paper Mills Inc.
· Ace Technologies
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As per Market Industry Reports (MIR) research findings, rising need for surgical sutures, technological advancements in machines for packaging are set to open new avenues for stakeholders.
Suturing techniques are widely adopted for wounds closure and its related surgeries thus increasing the demand for sutures, rising need for different surgical procedures along with the advancements and innovations in suture packaging for increasing the shelf life are anticipated to propel the surgical sutures materials and packaging market in the forecast period.
Moreover, rise in population growth is increasing the need for different kinds of surgical procedures and this has also played a crucial role in shaping the growth of the surgical sutures materials and packaging market. For instance, according to American Heart Association, cardiovascular diseases accounted for around 17.6 million deaths in 2016 and is expected to grow around 23.6 million by 2030.
“Companies are focusing more towards providing, high quality, cost effective, customized packaging solutions and services for suture packaging to their customers” said Akanksha, Analyst, Healthcare at MIR.
MARKET ECOSYSTEM/CLASSIFICATION
By Product Type
· Material
· Packaging Type
By Material
· Polymer
· Paper and Paperboard
· Other Materials
By Packaging Type
· Boxes
· Trays
· Other Packaging Types
The higher cost of surgical suture packaging process is hindering the growth of the market. The increase in price of raw materials for packaging and the method used for sterilization such as radiation and ethylene oxide gas used for sterilization impact the design and choice of packaging material for suture packaging and therefore increase the cost of packaging process. These factors are likely to restrain the market of surgical suture materials and packaging.
From a regional perspective, Asia-Pacific is expected to witness highest CAGR in the coming years owing to lower cost raw materials for packaging in countries such as China and India. Europe commands the largest share of the surgical sutures materials and packaging market. The large share of this market segment can be attributed to the presence of majority of prominent players in this region.
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Surgical Sutures Materials & Packaging Market is Estimated to be Around US$ 903 Mn in 2019 & is…
Sep 06, 2019 (The Expresswire) -- Global Surgical Sutures Materials & Packaging Market is…
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