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Dental Suture Market is Estimated to Witness High Growth Owing to Opportunity of Growing Geriatric Population

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Mia Yates
Dental Suture Market is Estimated to Witness High Growth Owing to Opportunity of Growing Geriatric Population

The dental suture market comprises products such as absorbable and non-absorbable sutures used for wound closure after trauma or surgery in dental procedures. Dental sutures provide precise closure of gingival tissues and help in rapid healing. The increasing number of dental implant placements and rise in dental injuries have resulted in the growing demand for dental sutures worldwide.

The global dental suture market is estimated to be valued at US$ 188.73 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity: Growing Geriatric Population

The global geriatric population is growing rapidly attributed to increasing life expectancy. According to the World Health Organization (WHO), the global population aged 65 years and above is projected to reach 1.5 billion by 2050 from 703 million in 2019. The aging population is more prone to dental problems such as gum diseases, dental caries, trauma, and infections. With increasing age, oral functioning declines gradually which has fueled the demand for dental treatments and surgeries. Since dental sutures are an integral part of various dental procedures and surgeries, the growing geriatric population base is expected to drive the growth of the dental suture market over the forecast period.

Porter’s Analysis

Threat of new entrants: The dental suture market has moderate threat of new entrants due to high costs associated with R&D, manufacturing capabilities and distribution channels required in this market.

Bargaining power of buyers: The bargaining power of buyers is moderate as dental sutures constitute a small part of dental care costs and switching to alternative brands is easy.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as the key raw materials required are readily available and there are established suppliers globally.

Threat of new substitutes: The threat of new substitutes is low as there are no cost-effective alternatives available for dental sutures currently.

Competitive rivalry: The competitive rivalry in the market is high due to presence of numerous global and regional players.

SWOT Analysis

Strength: Wide variety of dental sutures available, growing dental care expenditure, and rising number of surgeries.

Weakness: Risk of infection associated with sutures and high costs.

Opportunity: Expanding opportunities in emerging markets and developing new sutures made from advanced materials.

Threats: Stringent regulatory policies and technological advancements reducing demand.

Key Takeaways

The Global Dental Suture Market Size is expected to witness high growth due to rising geriatric population, increasing healthcare expenditure and growing demand for dental care procedures. The global Dental Suture Market is estimated to be valued at US$ 188.73 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030.

The North America region dominates the dental suture market with the highest market share currently due to robust healthcare infrastructure and rising dental expenditure in the region. The Asia Pacific region is expected to grow at the fastest pace during the forecast period due to increasing disposable income, growing medical tourism and rising awareness about oral healthcare in emerging countries like India and China.

Key players operating in the dental suture market are Alcast Technologies, Arconic, Consolidated Metco, Inc., Dynacast International Inc., Gibbs Die Casting, Ryobi die casting Inc., Bodine Aluminum, Martinrea Honsel Germany GmbH, Leggett & Platt, Endurance Technologies Ltd., Empire Die Casting Company, Alcoa Inc., Hitachi Metals Ltd, Nemak S.A.B. de C.V., GF Casting Solution AG, Shiloh Industries Inc., Rheinmetall Automotive AG, Sigma Electric Manufacturing Corp., Pace Industries, and Guangdong Yizumi.

For More Insights, Read: https://www.newswirestats.com/dental-suture-market-demand-growth-and-regional-outlook-by-2030/


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