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US Surgical Sutures Market: Surgical Procedures Growth to Drive Demand
US Surgical Sutures Market: Surgical Procedures Growth to Drive Demand
The Future of the Surgical Sutures Market Looks Promising in the US
Hyderabad,
AP,
India
(prbd.net)
30/01/2010
"US Surgical Sutures Market"
The US surgical sutures market valued at $918m in 2008 is forecast to grow by 4.4% annually for the next seven years to reach $1.2 billion by 2015. The surgical sutures market is primarily driven by increasing demand due to proven clinical outcomes and availability of a wide range of suture materials for specific procedure use.
Increasing institutional purchase in the US and growing surgical procedures in cardiovascular, orthopedic, endoscopy and laparoscopic surgeries are expected to drive the market for the next seven years. Overall, the US surgical sutures market has witnessed steady growth rates. The introduction of new technologies and increased awareness about the capabilities of various surgical sutures is expected to create more room for growth in this market.
Ethicon, a Johnson & Johnson company dominated the US surgical sutures market with a share of 80% in 2008. Market domination of Ethicon can be attributed to Johnson & Johnson’s clout over the Group Purchasing Organizations (GPO). GPOs are the major distributors for sutures and have a strong influence on hospital procurement of surgical equipment. Johnson & Johnson exerts a lot of influence on GPOs because of its size and the wide product range it offers in the surgical equipment market. It has contracts with GPOs that control more than 70% of the US hospital market. This explains Ethicon’s 80% share of the US sutures market.
In the US, the number of surgical and traumatic wounds was about 50 million in 2008. This number is forecast to increase as the number of surgeries increase. About 80% of surgical and traumatic wounds use some form of closure products such as sutures. Cardiovascular procedures such as open heart bypass surgery, heart revascularization procedures, valve replacements and orthopedic procedures, such as joint replacements and spinal fusion surgeries are expected to drive the surgical sutures market as they involve high amount of blood loss.
GlobalData, the industry analysis specialist’s new report “US Surgical Sutures Market: Surgical Procedures Growth to Drive Demand” is an essential source of information and analysis on the US surgical sutures market. The report identifies the key trends shaping and driving the market, and provides insight on the prevalent competitive landscape and the emerging players expected to bring a significant shift in the market positioning of the existing market leaders. Most importantly, the report provides valuable insight on the pipeline products within the US surgical sutures sector.
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