The size of the Latin American Surgical Sutures Market is predicted to grow USD 0.51 Billion by 2027 from USD 0.40 Billion in 2022, registering a CAGR of 5.1% from 2022 to 2027.
A surgical suture is a medical tool to stitch the cutaneous wound and close the surgical incision. It is used to stitch internal organs after surgery, skin, blood vessels, and all other tissues of the human body. Sutures could be absorbable or non-absorbable, with different properties (such as tensile strength and knot security) depending on the need and surgery. Surgical sutures are the medical devices used to knit off the opened cuts, and injured wounds, mainly when operations are performed.
Factors like an increasing number of surgeries, many launches of various devices in healthcare with the latest technology, and focus on getting approvals from the FDA by crucial players are boosting the market growth. Major factors driving the growth of this market include the increasing number of surgical procedures, favorable reimbursement scenarios for several surgical procedures, and the launch of advanced sutures. The growing popularity of cosmetic surgeries and increasing healthcare demand in low- and middle-income countries also provide significant growth opportunities in the market.
Lack of trained professionals for using the surgical sutures and high cost of the devices that can’t be affordable by ordinary people are some factors that are restraining the market growth. Increasing preference for minimally invasive surgical procedures and the presence of alternative wound care management products are the key factors expected to restrain the growth of this market.
This research report on the Latin America surgical sutures market has been segmented and sub-segmented into the following categories:
By End User:
Regionally, the Latin American surgical sutures market had occupied a small portion of the global market share in 2020. Within Latin America, the Brazilian surgical sutures market is estimated to have a promising CAGR during the forecast period. An increasing number of patients with various health disorders and the launch of innovative products with the latest technology are prompting the growth of the market. Increasing disposable income is another crucial factor bolstering the Brazilian surgical sutures market.
KEY MARKET PLAYERS:
Companies such as Johnson & Johnson Inc., B. Braun Melsungen AG, Smith & Nephew PLC, Demetech Corporation, Conmed Corporation, W.L. Gore & Associates, Boston Scientific Corporation, 3M Healthcare, Medtronic Inc., and Sutures India Pvt Ltd are expected to play a significant role in the Latin American surgical sutures market.
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