Rising Healthcare Spend & Cosmetic Surgery in Emerging Economies Boosts Sutures Market, Reports GlobalData05 Jun 2012 • by Natalie Aster
Increasing healthcare expenditure in emerging economies, including on aesthetic procedures, is having a positive effect on the expansion of the surgical sutures market.
The new report "Surgical Sutures - Global Opportunity Assessment, Competitive Landscape and Market Forecasts to 2018" by GlobalData states that a rising interest in cosmetic procedures, combined with technological advancements, the growing demand for outpatient surgeries and increasing healthcare expenditure due to older, more wealthy populations, in emerging countries such as China, India and Brazil will support market growth for medical equipment such as surgical sutures.
Surgical Sutures - Global Opportunity Assessment, Competitive Landscape and Market Forecasts to 2018
Published: May, 2012
Price: US$ 3.995,00
Emerging economies such as India and China are expected to drive the demand for operating equipment in the future, where the markets for surgical sutures are forecast to grow at a respective compound annual growth rate (CAGR) of 4.3% and 4.7%, to reach market values of $115.5m and $274.8m in 2018. The Brazilian surgical sutures market is also predicted to grow at a slightly lower CAGR of 3.8%, to reach $220.1m in 2018.
While the number of people opting for plastic surgery is increasing on a global scale, including in emerging economies, the highest concentration of surgeries still take place in the US. According to statistics released by the American Society for Aesthetic Plastic Surgery (ASAPS) in April 2011, the demand for plastic surgery procedures increased by 9% between 2009 and 2010 alone, and has grown by a total 155% since 1997. Around 9.5 million plastic surgery procedures were performed in the US in 2010, during which year $6.6 billion was spent by US citizens on cosmetic surgery procedures, meaning it will be some years yet before emerging economies reach the kind of levels demonstrated by the US.
More information can be found in the report “Surgical Sutures - Global Opportunity Assessment, Competitive Landscape and Market Forecasts to 2018” by GlobalData.