As per Market Industry Reports (MIR) research findings, automated, standardized, scalable, integrated Surgical Sutures Materials and Packaging solutions set to open new avenues for stakeholders.
Growth opportunities in the global surgical sutures materials and packaging market looks promising for the coming eight to ten years. Rising demand for the suture and rising innovation in suture packaging are some of the critical factors driving the global surgical sutures materials and packaging market.
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. and Ace Technologies, among others.
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Rise in population growth is fueling the need for different kinds of surgical procedures and this has also played a key 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 packaging solutions, customized solutions and services to their customers,” said Akanksha, Analyst, Healthcare at MIR.
From a regional perspective, Asia-Pacific is expected to witness highest CAGR in the coming years due to low cost raw materials for packaging and market centered in 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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