As per the report published by The Brainy Insights, the global cardiac sutures market is expected to grow from USD 1.45 billion in 2022 to USD 3.13 billion by 2032, at a CAGR of 8% during the forecast period 2023-2032. The North American region emerged as the most prominent global Cardiac sutures market, with a 46% market revenue share in 2022. The increasing incidence and prevalence of cardiovascular diseases in the region contribute to its dominance in the global market. The significant geriatric population and the high prevalence of obesity leading to high cardiovascular diseases are increasing the patient pool of the region. The unhealthy lifestyle of people with a processed-sugary diet and no physical exercise has contributed to the rising prevalence of cardiovascular diseases. The increasing demand for cardiac surgeries is segmented by the established healthcare industry with an extensive network of hospitals, clinics and ambulatory surgical centres, along with favourable reimbursement policies of the government. Furthermore, significant regional market players drive innovation, supporting the regional market's growth.
Cardiac Sutures Market Size by Product Type (Absorbable Sutures and Non-Absorbable Sutures), Material Type (Natural and Synthetic), Type, End User, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032
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Leading companies in the industry include Abbott, Apollo Endosurgery Inc., B. Braun SE, Boston Scientific Corporation, CONMED Corporation, DemeTECH Corporation, Johnson & Johnson Services Inc., Medtronic, Peters Surgical, and Smith & Nephew, among others, are offering more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.
The product type segment is divided into absorbable sutures and non-absorbable sutures. The absorbable sutures segment dominated the market with a market share of around 58% in 2022. The material type segment is divided into synthetic and natural. The synthetic segment dominated the market by about 59% in 2022. The type is divided into monofilament suture and multifilament suture. The multifilament suture segment dominated the market with a market share of around 54% in 2022. The end user is divided into hospitals, clinics, ambulatory surgical centres and others. The hospital segment dominated the market with a market share of around 44% in 2022. Hospitals have a variety of support departments, including labs and intensive care units (ICUs), which enable efficient pre-and post-surgery care for the patients and enable surgeons to treat any unanticipated difficulties. Hospitals are well-equipped to handle the challenges. Hospitals are the optimal location for cardiac surgeries since outpatient procedures put patients with heart illnesses at higher risk. Additionally, because they can take longer to heal, may be more likely to experience surgical complications, and may have stronger reactions to anaesthesia, the elderly population, which makes up a sizeable portion of the cardiovascular patient pool, finds hospitals to be more age-appropriate settings.
The two most prevalent cardiovascular diseases, heart attacks and strokes cause over 18 million fatalities each year. They contribute roughly 30% of deaths globally. A poor diet, a lack of exercise, and escalating smoking and tobacco use increase the risk of these diseases. Another critical factor is that the 700 million people with untreated hypertension are highly likely to develop cardiovascular disease. To decrease mortality, governments worldwide have pushed for better funding and policy interventions to increase healthcare coverage. The aim is to make cardiac surgeries and other treatment options more accessible and affordable with better healthcare infrastructure and reimbursement policies.
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About the report:
The market is analysed based on value (USD Billion). All the segments have been analysed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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