Absorbable sutures are expected to propel the market growth with a high growth rate, as these sutures are used in different surgical applications such as cardiovascular surgery, dental surgery, and repair of general soft tissues.
The Global Surgical Sutures Market size is projected to reach $5,255 million by 2022 from $3,360 million in 2015, growing at a CAGR of 6.4% during the forecast period.
The market growth is driven by the global surge in surgical procedures due to increased incidences of various chronic diseases and technological advancements in surgical suture products. However, lack of proper sterilization system in healthcare organizations and unfavorable taxation policies are expected to hinder the surgical sutures market growth.
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By application, it is classified into cardiovascular, general, gynecological, orthopedic, ophthalmic, and other surgeries. The general surgeries application segment dominated the surgical sutures market in 2015 and is estimated to continue this dominance during the analysis period. However cardiovascular surgeries segment is estimated to grow at a fastest CGAR of 7.3% during the forecast period.
By material, the multifilament segment accounted for the largest share in the sutures market in 2015, and is estimated to grow with a CAGR of 6.6%. In the same year, the general surgeries application segment dominated the market with more than one-third share due to the increase in demand for surgical sutures in various types of abdominal and other general surgeries.
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North America was the highest revenue contributor and Asia-Pacific showed fastest growth, accounting for 19.2% share in 2015. The large share of North America is attributed to the higher adoption of technologically advanced products such as absorbable & antibacterial coated sutures, growth in surgical procedures with increase in prevalence of various chronic diseases, and the development of the wound management sector.
The key players in the surgical suture market are expanding their business operations in the developing countries with new product launches. Comprehensive profiles of major market players such as Johnson & Johnson Private Limited, B. Braun Melsungen AG, Smith & Nephew, Demetech Corporation, Conmed Corporation, W.L. Gore & Associates, Boston Scientific, 3M Healthcare, Medtronic Inc., and Sutures India Pvt Ltd. are provided in this report.