Suture wire Market is expected to Reach CAGR of 11.6% during Forecast period 2022-2030

Pune, India, July 2022/MRFR Press Release/- Market Research Future published a half-cooked research report on global suture wire devices. 

Market Highlights

The Suture wire Market is expected to reach USD 1873.4 Million by 2030 at 11.6% CAGR during the forecast period 2022 -2030Suture wires are the thread like medical device which are used during the surgeries for holding body tissue. Suture wire is using since ancient time for the treatment but development in the material of the wire has increased their application in medial field. Global suture wire market is driven by introduction on new and better material for suture wire and increasing prevalence of different chronic diseases. Changing life style, increasing aging population and increasing governmental support for research has also driven the market. On other hand, strict regulatory rules and high cost of surgeries has restrained the growth of market. 

Segmentation:Global suture wire market is segmented on the basis of type, application and end users. On the basis of type the market is segmented into absorbable suture and non-absorbable suture. Absorbable suture is sub segmented into polyglycolic acid, polylactic acid, polydioxanone and monocryl. Non- absorbable sutures are sub segmented into nylon, polyester, polypropylene and other. On the basis of application the market is segmented into surgery, veterinary, and other. Surgery is further sub segmented into cardiac, renal, dental and other. On the basis of end users it is segmented into hospitals, clinics and other. 

Figure 1- Global suture wire market, by type

Competitive Analysis

The major key player for the global suture wire market are Boston Scientific Corporation (US), Demetech Corporation (US), Endoevolution Llc (US), Ethicon Inc. (US), Apollo Endosurgery Inc. (US), B. Braun Melsungen AG (Germany), Smith & Nephew Plc. (UK), Surgical Specialties Corporation (Germany), Sutures India Pvt Ltd (India), Internacional Farmacéutica S.A. (US), Medtronic PLC (UK), Peters Surgical (France), Covidien Plc. (UK), Jiangxi Longteng Co. Ltd. (China),  DemeTech (US), Teleflex Incorporated (US), Lotus Surgicals Pvt Ltd. (India)Suture market across the globe is continuously changing due to acquisition of local manufactures with multinational companies. Some companies are focusing on the new product developments while some has adopted strategies of acquisitions and strategic alliances for the growth of the market.Boston Scientific Corporation is a worldwide developer, manufacturer and marketer of medical devices. A wide range of products of this company are available in market. Company has acquired Schneider and EP Technologies. Different types of suture wire having different diameter are available in the market. The market of this company is increased by 12% in 2016 compare to 2015.DemeTech Corporation is a world renowned leader in surgical sutures and blades headquartered in US. Company has provide sutures of paramount quality at a lower and more reasonable cost which has increased the market of company. Polypropylene Sutures wire and Silk Sutures wires are famous product of the company and generate major amount of revenue. Company is majorly focusing on development of the new product to increase the product range.Medtronic is a medical device manufacturer headquartered in UK. It is the world's largest standalone medical technology development company. Company has a wide range of absorbable and non- absorbable products. Company recently introduced V-Loc wound closure device which is a revolutionary technology that eliminates the need to tie knots, so that the physician can close incisions up to 50% faster without compromising strength and security. Dermalon, Monosof, Surgilon and Surgidac are some of the non- absorbable products. Maxon is a veterinary suture manufactured by company. 

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