Global Surgical Sutures Market: Snapshot
The global market for surgical sutures is reporting a steady rise in its valuation and is expected to continue doing so over the next few years. The significant rise in the prevalence of medical conditions related to breast, skin, soft tissues, peripheral vascular surgery, trauma, and hernias is the key factor behind the growth of this market. Apart from this, the continual increase in geriatric population and the rising number of musculoskeletal diseases are also projected to drive the global market over the forthcoming years. The global market is anticipated to rise at a CAGR of 3.90% during the period from 2017 to 2025.
Absorbable Sutures to Continue to Report Strong Demand
Absorbable sutures and non-absorbable sutures are the two main product categories present in the global market for surgical sutures. Among the two, the absorbable suture segment held the leading position in 2016, with a share of almost 60% and is projected to continue doing so over the forthcoming years. The benefits, such as low risk and lowered risk of wound infection, have made absorbable sutures highly popular among consumers, which is reflecting greatly on their demand.
In instances where long-term support is needed, non-absorbable sutures are required. They majorly find usage in specialty fields, such as cardiovascular surgeries. The high risk of side-effects, caused by some materials used in non-absorbable sutures limits its uptake to some extent. However, these sutures are likely to be utilized extensively in specialized applications in the years to come.
North America to Continue to Lead
Geographically, the worldwide market for surgical sutures reports its presence mainly across North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. In 2016, North America dominated the global market, with a share of nearly 35%. The regional market is anticipated to remain dominant over the next few years. The increased prevalence of cardiovascular disorders, rising number of surgeries, and augmenting demand for advanced treatment procedures are boosting the North America market for surgical suture, significantly.
Among other regional markets, Asia Pacific is anticipated to report a steady rise in its market for surgical suture, thanks to the continual surge in the awareness level among consumers, boom in medical tourism industry, owing to the low cost of treatment, and the massive increase in the prevalence of lifestyle diseases. The rising incidence of medical conditions related to stomach, esophagus, small bowel, pancreas, bile ducts, gallbladder, liver, colon, and the thyroid gland are also projected to boost the Asia Pacific market for surgical sutures.
Currently, the global surgical suture market demonstrates a highly consolidated vendor landscape. However, with the emergence of a number of domestic players in developing economies, it may move towards fragmentation in the years to come. Some of the leading vendors of surgical sutures are Teleflex Inc., Integra LifeSciences Corp., Medtronic Plc, B. Braun Melsungen AG, Acelity L.P. Inc., Smith & Nephew Plc, Johnson & Johnson, Boston Scientific Corp., Zimmer Biomet Holdings Inc., and ConMed Corp.
Global LED Display Market: Overview
Light emitting diode (LED) is essentially a semiconductor chip that emits light of different wavelength in the visible spectrum along with emission of UV and infrared light. LED displays are used to display multimedia graphics, such as advertisements, company promotions, scoreboards, and traffic signs, and can be mounted on buildings, highways, stadiums, and entertainment shows to extend their reach to a large population.
In recent years, the application of LEDs was limited to certain specific lighting needs and had not entered the mainstream lighting applications. The introduction of LED in applications such as lighting and displays has given a strong thrust to the market. A variety of technologies are implemented in manufacturing of LED products. Chips and components are the basic materials assembled to manufacture the final display product.
The report offers a distinctive evaluation of the global LED display market, taking into account its growth factors, restraints, and potential business prospects.
Global LED Display Market: Trends and Opportunities
The global LED market is currently in its nascent phase. The surge in the usage of LEDs in different industrial applications such as automobiles, mobile phones, and backlighting applications is predicted to heavily influence the trajectory of the global LED display market. In the prevailing business scenario, environmental awareness is growing amongst the people. Increasing green construction is one of the key factors resulting in the growth of the LED display market across the globe.
The increasing demand for LED displays in outdoor advertisements is a primary factor driving the market growth. Enhanced features such as energy efficiency, being environment friendly, low in operational cost, and durability have encouraged marketers and advertisers to use LED displays for outdoor promotional campaigns and advertisement. Furthermore, the incrementing number of live events such as concerts, sport competitions, and corporate exhibitions are further fueling the LED display market at present.
Global LED Display Market: Geographical Analysis
The global LED display market is segmented into four major regions, namely North America, Europe, Asia Pacific, and Rest of the World (Latin America, Middle East, and Africa) for geographical analysis. China and Japan are the key and emerging LED display markets in Asia Pacific, on account of the rising number of sports activities along with infrastructural development across nations such as India and China.
Global LED Display Market: Companies Mentioned
Owing to the presence of international and regional vendors, this market appears to be highly fragmented and is competitive. Vendors operating in the industry are likely to offer end-to-end solutions, from manufacturing to installation at the site along with after-sales services. Industry participants are expected to focus on investing in research and development activities in order to increase efficiency and reduce emissions in order to gain strategic advantage over their competitors.
Some of the key players in the LED display market include Barco N.V. (Belgium, Sony Corporation (Japan), Panasonic Corporation (Japan), LG Electronics, Inc. (South Korea), Daktronics, Inc. (U.S.) Toshiba Corporation (Japan), Samsung LED Co. Ltd. (South Korea) others.
Global LED Display Market Segmentation
- By Type
- Conventional LED Displays
- Surface-Mounted LED Displays
- By Application
- Mobiles and Smartphones
- PC Monitors
- Digital Signage
- Outdoor Signage
- Indoor Signage
- By Color Display Technology
- Monochrome LED Displays
- Tri-color LED Displays
- Full Color LED Displays
- By Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC countries
- South Africa
- Rest of Middle East & Africa
- North America