Knotless Tissue Control Devices Market Share

North America Market Forecast

North America industry is poised to hold largest revenue share of 41% by 2037. The growth of the market can be attributed majorly to the rising cases and deaths of chronic cases in the region. Rising chronic diseases have resulted in increased surgical sutures which in turn is projected to rise the demand for knotless tissue control devices. As per a recent study by the Centers for Disease Control and Prevention in 2022, it is revealed that 6 out of 10 adults in the U.S. have been diagnosed with one chronic disease and respectively 4 out of 10 have been diagnosed with two or more chronic diseases. Further, North America is anticipated to dominate the knotless tissue control devices market in the forecast period due to growth in GDP, health expenditure, and changing lifestyles. The Centers for Medicare & Medicaid Services also stated that in 2020, the national health expenditure in the region accounted for USD 4.1 trillion, or USD 12,530 per person. This accounted for 19.7% of the gross domestic product (GDP). Additionally, the growth in the healthcare industry is expected to increase the adoption rate of knotless tissue control devices in the hospitals of the region. As of 2021, the healthcare industry stood up at USD 810 billion in the United States.

Europe Market Forecast

Moreover, the European region is also estimated to garner a significant share during the forecast period owing to the growing healthcare industry. The rising number of investments in the healthcare sector and improvement in surgical methods and infrastructure development is anticipated to have a positive impact on market growth. It is reported that in 2020 about 1 million cesarean sections were performed in Europe as per the estimations.