LATIN AMERICA SURGICAL SUTURES MARKET 2022-2028
MARKET OUTLOOK
The Latin America surgical sutures market is predicted to showcase growth, with a CAGR of 5.14% over the forecasting period from 2022 to 2028, states a report by Triton Market Research. Brazil, Mexico, and Rest of Latin America together shape the market in this region.
The Rest of Latin America region includes countries like Chile, Argentina, Colombia, Venezuela, and Peru, among others. The number of hospitals in Chile has also grown substantially in the past few years. The number of surgical procedures is also rising. Minimally invasive surgeries have particularly gained popularity. In addition, according to recent data, 12% of the total population in the country is aged 65 years and over. The rising elderly populace has increased the number of surgeries taking place. All these factors are fueling the demand for surgical sutures. All these factors are thus contributing to the development of the surgical sutures market in Chile.
In 2020, Argentina was the fourth-largest country in Latin America in terms of hospital capacity. And, as of 2021, there were around 2,400 hospitals in the country. The number of cosmetic surgeries being performed here has significantly increased over the years. Also, the number of robot-assisted surgeries performed is also on the rise in the country. The increase in cosmetic and robotic surgeries are contributing to the growth of the surgical sutures market in Argentina, and thereby in Rest of Latin America.
COMPETITIVE OUTLOOK
Major players engaged in the surgical sutures market include Advanced Medical Solutions Group Plc (AMS Group), B Braun Melsungen AG, Ethicon Inc (Johnson & Johnson), Boston Scientific Corporation, Zimmer Biomet Holdings Inc, Lotus Surgicals, Stryker Corporation, and Teleflex Incorporated.
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