Surge in Number of Surgical Procedures Driving the Suture Sleeve Demand
The growing number of procedures involving implantation of medical devices, such as pacemaker lead, IV catheterization procedures, and canalization procedures for wound irrigation, among others, is increasing the usage of suture sleeve kits. Suture sleeve kits are used for securing medical implants in relation to a human body. Wearing of suture sleeve by the patients allows physicians and other healthcare providers to perform suture stapling, IV catheterization, anesthetization, and wound cleansing. Suture sleeve kit has a tubular body of a resilient material and is formed with two or more stiffening protuberances at the bottom of suture sleeve kit along with the circumference of the suture groove. Suture sleeve kit provides adjustable and tubular reinforcement protection positioned over the lead, which is insulated and located outside the body. Suture sleeve kit is designed to protect and secure the venous entry site with the lead after the placement. They are used to reduce the possibility of structural damage caused by suturing directly from the lead body. Suture sleeve kit is used to prevent lead dislodgment or prevent damage to the lead. It is used for reducing placing errors during extreme tensions. It also prevents the dislodgement and migration of lead.
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Factors Driving Suture Sleeve Kit Market
The global market for suture anchor device market is expected to be driven by the advancement in technology. The key drivers of the market are increasing cases of sports injuries, growing aging population and increase in obese population with orthopedic injuries. According to the HCUP report in 2012, there were some 113.3 procedures performed per 100,000 inhabitants on muscles and tendons in inpatient facilities of the U.S. Moreover, the increasing healthcare expenditure is also expected to fuel the growth of the market over the forecast period. The ongoing research works on improving the quality of material and technology of suture sleeve kit is driving the market. The hospitals end-user segment is expected to hold the highest market share in the global market for suture sleeve kit device. However, the high cost of the surgical procedures, strict regulations and the lack of reimbursement policies can hamper the growth of the market.
Suture Sleeve as a Training Aid
Suture sleeve has significant applications in training the medical professionals both in controlled classrooms and hands-on practical training courses. Suture sleeves designed for training aid are made of silicon rubber or PVC that resembles the characteristics of life-like skin. These suture sleeves consist of protective shields covered by a layer of simulated sub-dermal tissue to add to the Hyper-Realism, and ten life-like veins that are user-repairable. The suture block skin can be utilized to create superficial lacerations and deep tissue lacerations that are capable of being closed by sutures and staples as well as the ability to introduce local anesthesia.
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Regional Market Outlook
North America is one of the dominant regions in the global suture sleeve kit market mainly due to increased acceptance of suture sleeve kits by the end users. In North America, the U.S. is the dominating country due to the high penetration. Economic conditions in the APAC region are set to drive the suture sleeve kit market to a new level. Europe and APAC are the fast-growing regions due to rising awareness of suture sleeve kits. Latin America is also growing at a considerably high CAGR due to rising healthcare expenditure in order to increase the patient compliance. Growth in the Middle East and Africa is considerably less when compared to the other regions. However, North America would maintain its position in the suture sleeve kit market, though emerging economies such India, China, and Brazil are expected to have high growth rates in the suture sleeve kit market.
Growing Demand in Emerging Markets
The global suture sleeve kit market has witnessed a robust growth due to increasing demand for patient compliance after surgeries. The suture sleeve kit market has presence of many regional players, which have a huge market share in emerging countries operating at the regional or country level. There are huge opportunities for the untapped markets in emerging countries due to few approved players of the suture sleeve kits. The key players in the suture sleeve kit market are mainly focused on expansion by collaborations and partnerships with local vendors in order to increase the market reach of the products. The suture sleeve kit market is anticipated to grow at a significant CAGR during forecast period.
Examples of some of the key participants in the global suture sleeve kit market are Strategic Operations, OSCOR, Abbott, Medtronic, Inc., and Boston Scientific, among others. The companies are mainly focused on R&D to strengthen core competencies of their product portfolio. Suture sleeves are offered as an accessory in the electrode pacing lead kits. Some of the companies are offering suture sleeve as training kit such as Hyper-Realistic Suture Block offered by Strategic Operations Inc. Medtronic Inc. possess patented suture sleeve devices, where the patent is valid till 2024.