The dental suture market comprises sutures and related products that are used during various dental surgical procedures. Absorbable and non-absorbable sutures find widespread application for closing incisions and wounds post-operative procedures like dental implant placement, dental extraction, periodontal surgery and corrective jaw surgeries. Demand for dental sutures is anticipated to rise in tandem with the growing number of dental surgical procedures performed worldwide each year.
The Global dental suture market is estimated to be valued at US$ 217.42 Bn in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the dental suture market are Cargill, Archer Daniels Midland Company (ADM), Bunge Limited, Ingredion Incorporated, Associated British Foods (ABF), Tate & Lyle, Agrana Beteiligungs AG, The Scoular Company, Grain Processing Corporation (GPC), Didion Milling. Key players are focusing on new product launches and are investing in R&D activities to come up with advanced sutures.
The rising incidences of dental caries, periodontal diseases and other oral health issues are presenting lucrative opportunities for players in this market. Furthermore, increasing medical tourism in low cost countries and rising dental expenditure is also fueling the Dental Suture Market Demand .
The global dental suture market is witnessing positive growth owing to rising awareness about oral healthcare and technological advancements in dental sutures. North America dominated the global market in 2019 due to high treatment costs and rapidly increasing geriatric population. However, Asia Pacific region is likely to provide attractive prospects for market participants during the forecast period.
Market drivers
Rising cases of dental surgeries owing to growing elder population is one of the major drivers of this market. According to WHO, worldwide population aged over 65 is projected to reach 1.5 billion by 2050 from present 523 million. Elder population is more susceptible to oral health issues requiring dental surgeries which drives the demand for Dental Suture Companies. Furthermore, technological advancements resulting in introduction of new fast dissolving sutures are also fueling the market growth.
PEST Analysis
Political: The dental suture market is regulated by government agencies like the U.S Food and Drug Administration (FDA) in the US. Strict regulations on dental products ensure patient safety.
Economic: Growth in disposable incomes affects the demand for advanced and costly dental procedures involving sutures. Economic downturns may lower such discretionary healthcare spending.
Social: An aging global population prone to oral diseases drives the need for dental treatments. Also, greater awareness about oral healthcare and cosmetic dentistry boosts this market.
Technological: Innovation in dental suture materials allows for advanced techniques like minimally invasive surgeries. Absorbable sutures that dissolve are now available, relieving the need to later remove stitches. Computer-aided 3D printing may offer customized sutures.
The dental suture market in terms of value is concentrated in regions with developed healthcare infrastructure and higher healthcare spending like North America and Western Europe. The US accounts for the major share due to a large dental industry and rising uptake of dental procedures. Asia Pacific is growing rapidly owing to increasing access to dental care in China and India along with rising living standards.
The fastest growing regional market for dental sutures is expected to be Asia Pacific during the forecast period driven by the emerging economies like China and India. Rapid economic development, growing medical tourism, rising middle class, increasing health awareness and healthcare reforms expanding insurance coverage in the region are fueling the growth of dental suture market in Asia Pacific.
Get more insights on Dental Suture Market
About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
Comments
0 comment