Market Trends of India Surgical Sutures Industry
Orthopedic Surgery Segment is Expected to Witness Growth Over the Forecast Period
The orthopedic surgery segment is expected to hold a significant market share owing to the increasing prevalence of orthopedic diseases like arthritis and knee injuries, a rise in the geriatric population, and strategic initiatives by key market players.
As per an article published in the National Library of Medicine in August 2022, more than 63 million people in India are affected by osteoarthritis in the current year. In India, osteoarthritis includes a substantial and growing burden and impact, estimated to boost surgical procedures and the segment's growth during the forecast period. The high burden of various orthopedic conditions like fractures, arthritis, osteoarthritis, and rheumatoid arthritis, which require general surgery, propels the utility of general surgical products such as surgical sutures. Additionally, the geriatric population was more susceptible to osteoarthritis conditions, likely to propel the market's growth. According to the Elderly in India 2021 report, around 137.9 million people over 60 were living in India. The numbers are projected to rise to 193.8 million by the year 2031. Around 23% of the elderly population will include multi-morbidities, with older women being more likely to suffer from such disorders.
This increasing number of orthopedic disease cases generates demand for more orthopedic surgeries. Therefore, the orthopedic surgery segment is expected to grow strongly during the forecast period.
Ophthalmic Surgery Segment is Expected to Witness Growth Over the Forecast Period
The ophthalmic surgery segment is expected to grow owing to technological advancements in the field of ophthalmology. The rising geriatric population is expected to enhance the segment's growth during the forecast period of the study.
Ophthalmology-based diseases in India are increasing. For instance, according to an article published by the Indian Journal of Ophthalmology in May 2021, a study showed that the crude and overall age-adjusted prevalence for any positive dry eye disease symptom was 6.5% and 6.8% in males and females, respectively. Furthermore, according to the 2021 statistics by the Ministry of Statistics and Program Implementation (MoSPI), India, the number of females and males in the elderly population is projected to reach 100.9 million and 92.9 million by 2031, respectively. Such an anticipated increase in the elderly population growth rate is also associated with the increasing number of yearly cataract surgeries. It, in turn, indicates the rising demand for surgical sutures in the country. For instance, in May 2022, as per the Union Health Minister of the country, the country requires 49 lakh surgeries to clear the backlog of blindness due to cataracts, and 53.63 lakh surgeries are needed to clear the backlog of severe visual impairment due to cataracts.
Hence, due to the factors above, the ophthalmology surgery segment is expected to experience growth during the forecast period of the study.
