GlobalData is predicting a rebound in the sector, which witnessed a decline in 2020 due to the COVID-19 pandemic.
A recent report from the company reveals that absorbable sutures segment accounted for about 90 percent of the Australian surgical sutures market in 2020.
Ethicon Inc. was the leading player in the Australian surgical sutures market in 2020, followed by Medtronic plc and B. Braun Melsungen AG. Together these companies accounted for around 65 percent of the market in 2020.
“Increasing number of surgical procedures driven by geriatric population, technological advancements, importance of improving patient outcomes and safer surgical recoveries are driving the demand for surgical sutures,” said Ayushi Pandita, a medical devices analyst at GlobalData.
Technological advancements such as the use of different kinds of synthetic materials for better tissue holding capacity and fewer risks of infection and scar tissue formation have led to the higher adoption of surgical sutures compared to other wound closure methods.
“Rising awareness about the benefits of absorbable sutures with regards to the faster recovery of wounds and assuring patient safety with fewer risk of infections are expected to contribute to the surgical sutures market growth in the future,” said Pandita.