Surgical Sponge Market to Reach $3.7 Billion Globally by 2032 at 5.8% CAGR: Allied Market Research

Wilmington, New Castle, Delaware, April 18, 2024 (GLOBE NEWSWIRE) -- Allied Market Research has recently published a report, titled, “ Surgical Sponge Market Size , Share, Competitive Landscape and Trend Analysis Report by Type, by End user : Global Opportunity Analysis and Industry Forecast, 2023-2032 .” According to the report, the global surgical sponge market generated $2.2 billion in 2022, and is anticipated to generate $3.7 billion by 2032, rising at a CAGR of 5.8% from 2023 to 2032.

Prime Determinants of Growth

The growing number of surgical procedures, increasing prevalence of chronic diseases, and the ongoing rise in global healthcare expenditure are the factors expected to drive the growth of the global surgical sponge market in the forecast period from 2023 to 2032. However, the development of alternative products like hemostatic agents and sealants may hamper market growth in the coming future. On the contrary, advances in materials science & technology and the expansion of healthcare infrastructure in emerging markets are expected to offer remunerative opportunities for the expansion of the surgical sponge market during the forecast period.

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Type: Cotton Gauze Sponges Sub-segment to be the Most Dominant During the Forecast Period

The cotton gauze sponges sub-segment accounted for the largest global surgical sponge market share of 32.1% in 2022 and is expected to grow at the highest CAGR of 6.4% during the forecast period. This is mainly attributed to cotton gauze sponges’ utility, cost-effectiveness, and adaptability. Their versatility makes them indispensable for a plethora of medical tasks, including absorption, dressing, and cleaning of wounds, bolstered by their ability to adapt to various wound dimensions. The economic advantage they offer aligns well with the healthcare sector's goal of cost-efficient, high-quality patient care, propelling their demand. Besides, there is substantial scope for product innovation aimed at enhancing attributes such as absorbency, reducing lint, and introducing antimicrobial properties, which could further solidify their market position.

End-user : Hospital Sub-segment to Flourish Immensely During the Forecast Period

The hospital sub-segment accounted for the largest market share of 52.3% in 2022 and dominate in terms of market share by 2032. The sub-segment is expected to rise at the highest CAGR of 6.4% during the forecast period. Hospitals, as primary centers for a broad spectrum of surgeries from simple to complex, inherently drive the high demand for surgical sponges due to the volume of procedures conducted. Technological advancements enabling more intricate surgeries have further escalated this need, as these operations often necessitate an increased use of surgical sponges for maintaining sterility and controlling bleeding. Besides, the imperative for stringent infection control and patient safety measures in hospital settings highlights the essential role of high-quality surgical sponges, thereby fueling market growth.

Region: North America Market to Hold Major Share by 2032

The surgical sponge market in the North America region accounted for the largest share of 31.9% in 2022 and is predicted to continue to maintain its dominance in terms of market share during the forecast period. This growth is mainly because the aging population is increasing the volume of surgeries in the region, thereby boosting the demand for surgical disposables, including sponges. Enhancements in healthcare infrastructure, facilitating access to advanced surgical techniques and equipment, further stimulate this demand. Moreover, hospitals and surgical centers prioritize the adoption of high-quality surgical sponges to ensure optimum patient safety and surgical outcomes, highlighting the critical role of these products in the medical field.

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Leading Players in the Surgical S ponge M arket :

• Medtronic
• TEPHA INC.
• Ethicon Inc.
• W. L. Gore & Associates. Inc.
• Boston Scientific Corporation
• Betatech Medical
• Medical Devices Business Services, Inc.
• Mölnlycke Health Care AB
• B. Braun Melsungen AG
• LifeCell International Pvt. Ltd.

The report provides a detailed analysis of the key players of the global surgical sponge market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences , Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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