Global Automated Suturing Devices Market 2019-2023 | High Prevalence of Chronic Disorders to Boost Demand | Technavio
LONDON--(BUSINESS WIRE)--Nov 7, 2018-- analysts forecast the global automated suturing devices market to grow at a CAGR of over 5% during the forecast period, according to their latest market research report.
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Technavio analysts forecast the global automated suturing devices market to grow at a CAGR of over 5% by 2023. (Graphic: Business Wire)
The growing adoption of MI surgeries is one of the major trends being witnessed in the . With the increase in the prevalence of chronic conditions, there has been a rise in the number of surgical procedures. For instance, the incidence of osteoarthritis, a chronic orthopedic condition in adults and the elderly population, is increasing globally. Osteoarthritis can lead to fractures in bones for which the patient would need to undergo surgery. In such cases, to help the patient recover soon, MI surgeries can be performed using automated suturing devices. The demand for MI surgeries is increasing because of their benefits such as less pain and discomfort, low chances of infection and bleeding, shorter hospital stay, no or smaller scars, and quick recovery.
According to Technavio analysts, one of the key factors contributing to the growth of the global automated suturing devices market is the increased number of surgical procedures:
Global automated suturing devices market: Increased number of surgical procedures
With the increase in the prevalence of chronic conditions, there has been a rise in the number of surgical procedures. Owing to the presence of MI surgeries, nowadays, surgical procedures are becoming less painful for patients, which allows them to get back to normal life faster when compared to traditional surgical procedures.
According to a senior analyst at Technavio, “Advanced techniques and devices such as automated suturing devices, help in the efficient healing of wounds in accordance with the specific type of tissue. Automated suturing devices are used many surgical procedures such as gynecologic surgeries, endoscopic surgeries, appendectomy surgeries, plastic and reconstructive surgeries, orthopedic surgeries, and laparoscopic surgeries.”
Global automated suturing devices market: Segmentation analysis
The global automated suturing devices market research report provides market segmentation by product (reusable and disposable), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products, reusable and disposable, the reusable segment held the largest market share in 2018, contributing to over 75% of the market. This product segment is expected to continue to dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2018, accounting for 45% share, followed by EMEA and APAC respectively. Although APAC held the smallest share of the market, it is expected to witness the maximum increase in its market share over the forecast period.
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Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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