Industry Background:
Polyglycolic acid Suture or PGA was the first synthetic absorbable Suture introduced . Basically Polyglycolic /Polyglycolide is biodegradable, thermoplastic and the simplest linear, aliphatic polyester. It can be prepared starting from glycolic acid by means of poly-condensation or ring-opening polymerization. There are different applications of PGA suture in human medication as well as veterinary medication in healthcare sector . It is available in different types ,different coating and in different filaments.This growth is primarily driven by Highly demanded due to PGA sutures' superior features over catgut and Highly suggested as they are Biodegradable polymers.
Globally, a noticeable market trend is evident Not only in human medication also used veterinary medications. Major Players, such as Acctome (United States), Ethicon (Johnson & Johnson) (United States), B.Braun Melsungen AG (Germany), Smith & Nephew (United Kingdom), Medtronic (Ireland), Boston Scientific (United States), Sutures India (India), EndoEvolution (United States), Demophorius Healthcare (Turkey), YAVO (Poland) and Troge Medical (Germany) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In December 2019 Johnson & Johnson announced an agreement to acquire the remaining stake in Verb Surgical Inc. following a successful strategic collaboration with Verily, an Alphabet company. Verb Surgical world-class robotics and data science capabilities combined with Johnson & Johnson’s health care leadership and global reach advance the company’s vision to make medical interventions smarter, less invasive and more personalized.
In September 2019 Philips and B.Braun launch Onvision needle tip tracking, a breakthrough in real-time ultrasound guidance for regional anesthesia Philips a global leader in health technology, and B. Braun Melsungen AG, a global leader in regional anesthesia and pain management, announced the launch of Onvision, a breakthrough ultrasound guidance solution for real-time needle tip tracking in regional anesthesia. Available on the latest version of the B. Braun and Philips Xperius ultrasound system, Onvision gives anaesthesiologists the confidence to accurately position the needle tip inside the body.
Regulatory Insights:
The FDA and Code of Federal regulations provide guidelines for surgical device manufacturers. There classification and uses according to their specifications. Polyglycolic Acid (PGA) meets all requirements established by the United States Pharmacopeia (U.S.P.) for synthetic absorbable surgical suture.
Market Drivers
- Highly demanded due to PGA sutures' superior features over catgut
- Highly suggested as they are Biodegradable polymers
Market Trend
- Not only in human medication also used veterinary medications
Opportunities
Growing use due to Environment-friendly in nature
Challenges
High cost associated with the product
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AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
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Against this Challenging Backdrop, Polyglycolic Acid Suture Study Sheds Light on
The Polyglycolic Acid Suture Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Polyglycolic Acid Suture industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Polyglycolic Acid Suture industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.