to a new market research study titled ‘Surgical Sutures Market to 2025 – South
and Central Analysis and Forecasts by Product, and Application. The South and
Central America market for the surgical sutures includes Brazil, Argentina,
Venezuela, Bolivia, Uruguay, Ecuador, Peru and Rest of South and Central
America. The growth factors for surgical sutures market include increasing
focus of market players for manufacturing the surgical sutures due to the rise
in the cardiovascular surgeries, general surgeries, orthopedic surgeries and
medical tourism are major driving factors for the growth of the surgical
sutures market the forecasted period.
There have been increase in the general surgeries in the South and Central America due to the better health system and better treatment plans. For instance, in the Uruguay, health system is considered to be one of the world’s three best health systems. As per the Global Retirement Index’s annual report in 2014, Uruguay, France and Malaysia provides the best and the most affordable healthcare services in the world. Uruguay holds second ranks for offering the variety of options the health care which include public health systems for the poor population and private sector which provides health insurance and the healthcare plans provided by health insurance providers called as mutualista. In addition, in Uruguay every citizen including foreigner is benefited by the healthcare system. The cost for the treatments are cheaper, for instance, a private plan at la Asistencial cost upto US$ 57 per month and the VIP plan may cost near around US$ 154. Thus, the health system in the country lead to more medical tourism and more number of the surgical treatments that require surgical sutures and the need of the sutures is expected to drive the market in coming future.
Similarly, Ecuador has also received fame due to its medical tourism as it offers healthcare facilities with the utilization of the high standard and safe procedures and services. Ecuador medical tourism provide services like plastic surgery, dental procedures, orthopedic and bariatric surgery. The hospitals in the country are ISO certified and also utilizes the latest technology products that enables in assuring patients for an unforgettable medical care during their visit. Moreover, the medical coverage is done approximately about US$ 70. In addition, healthcare system offers medical coverage which include doctor visits with zero pays or reducible, dental care and free or discounted prescriptions. Therefore, the increase in the medical tourism is leading to the increase in the number of more general surgeries. This factor is eventually leading to the higher demand of surgical sutures and the market is expected to grow in the coming future.
The South and Central America surgical sutures market has been segmented by product, and application. Based on product, the market is segmented as absorbable sutures and non-absorbable sutures. The absorbable sutures is further classified as natural sutures and synthetic sutures. The application segment is classified as cardiovascular surgeries, orthopedic surgeries, general surgeries, gynecology surgeries, ophthalmic surgeries and others. Based on the application segment the market for the surgical sutures in the South and Central America is estimated to reach US$ 526.9 Mn by 2025 as compared to US$ 372.7 Mn in the year 2017, with a CAGR of 4.4% over the forecast period.
The surgical sutures market is highly fragmented due to the presence of various local as well as regional players. Some of the key players operating in the South and Central America surgical sutures market include, B. Braun Melsungen AG, Medtronic, Ethicon USA, LLC, Smith & Nephew, Atramat, Demetech Corporation, Sutures India, Péters Surgical, Teleflex Medical OEM, Serag-Wiessner GmbH & CO. KG among others.
The report segments the South and Central Surgical Suture market as follows:
South And Central Surgical Suture Market – By Product
Polyglactin 910 Sutures
Poliglecaprone 25 Sutures
Polyglycolic Acid Sutures
Stainless Steel Sutures
South and Central Surgical Sutures Market – By Application
South and Central Surgical Sutures Market – By Geography
Rest of South and Central America