Market Dynamics:
Technological And Product Development Are the Keys to Market Dominance
Development of biocompatible and absorbable stitches is driving the market growth. The inclusion of anti-bacterial and biocompatible coatings has resulted in higher market adoption for dissolvable stitches. The substitution of sheep intestines with synthetic absorbable materials made of amino acids and proteins exemplified by vicryl sutures is driving further growth. Thus the market share of catgut sutures, prolene sutures, and nylon sutures is expected to fall. The development of films controlling dissolution times such as the chromic gut sutures is another product development strategy yielding market mileage.
High Cost and Poor Distribution Efficiency Hampering the Market
The high cost of the dental sutures, coupled with poor reimbursements reflected by high out-of-pocket costs is hampering the market. According to the FDI World Dental Federation, estimates out-of-pocket costs represent approximately 55 % of total dental care spending, with comparative figures for general health care amounting to just 20 %.
Distribution efficiency is another neglected area, which needs to be addressed by the players. The high pressure on pricing owing to greater market fragmentation is another market restraint.
Market Scenario:
Dental sutures are stitches used to secure the surgical flaps until it can withstand normal stresses and resist reopening of the wound to promote healing. The dental sutures market is expected to grow at a high CAGR of 6.1% during the forecasted period to account for a higher market value of approximately USD 779.1 million in the global market by 2027.
Segments:
To generate an accurate understanding of the market, the global dental suture market is segmented by types, technique, and region.
Based on types, the market is segmented into which comprises absorbable, non-absorbable and others. The non-absorbable segment accounts for the most significant market share in 2015.
Based on technique, the market is segmented into interrupted sutures, continuous sutures, and mattress sutures. The mattress sutures are further sub-segmented into external horizontal mattress sutures and external vertical mattress sutures. Interrupted suture segment accounts for the most significant market share of 57.6 % of the global dental suture market.
Based on regions, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa.
Regional Analysis of Dental Suture Market:
North America led by the U.S. is the largest market for dental suture owing to higher healthcare expenditure, and presence of technologically advanced products. North America accounts for the most significant market share of 34.5 % of the market, which is projected to reach $248.8 million by the end of forecast period. Europe holds the second largest market due to the presence of significant medical devices industry of Germany.
Asia Pacific market is anticipated to be the fastest growing market for dental sutures, which is expected to grow at the rate of 6.6 %.
Industry News
2016 – Danaher Corporation, agreed to acquire dental implant maker Nobel Biocare Holding, for USD 2.2 billion. Danaher followed by investing in Henry Schein.
2016 – Straumann is acquiring value brands, including Neodent, Medentika, Biodenta, and Mega’Gen which is expected to result in efficiencies of scale and scope, distribution efficiency and others.
2016 – Dentsply Sirona acquired MIS Implants for generating future market equity created by high tech dental implants.
