The global surgical sutures market to reach USD 5,982.9 million by 2026, displaying a CAGR of 6.0% during the forecast period. This growth is attributable to the consistent rise in geriatric population in the world. According to the UN Department of Economic and Social Affairs (ECOSOC), in 2017, the number of people above 60 years of age was 962 million and by 2050, this number is going to shoot up to 2.1 billion.
Furthermore, the ECOSOC predicts that in 2030, aged people will outnumber children below the age of 10. Old people are vulnerable to a number of ailments, especially chronic diseases such as diabetes and lung and heart disorders. In most cases, they require surgeries and need high-quality sutures to efficiently and effectively close wounds. Thus, a rising global geriatric population will inevitably push up the demand for surgical sutures and drive the market in the forecast period.
As per the report by Fortune Business Insights, titled “Surgical Sutures Market Size, Share and Industry Analysis By Product Type (Absorbable, Non-absorbable), Form (Natural, Synthetic), Application (Gynecology, Orthopedics, Cardiology, Ophthalmic, General Surgery), End User (Hospitals, Ambulatory Surgery Centers, Clinics) & Regional Forecast, 2018 – 2025”, in 2017, the market was valued at USD 3,750.9 million. The report also brings out a careful analysis of the various dynamics and aspects that will shape the market, along with a comprehensive industry overview for a holistic assessment.
Surgical sutures are medical devices that are used to close up wounds after injury or surgery. Akin to the act of sewing, these devices involve the use of a needle and thread which are used to stitch the wound so as to cover the tissues and allow them to heal.
Key Segmentation:
By Product Type
- Absorbable
- Non-absorbable
By Form
- Natural
- Synthetic
By Application
- Gynecology
- Orthopedics
- Cardiology
- Ophthalmic
- General Surgery
By End User
- Hospitals
- Ambulatory Surgery Centers
- Clinics
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Rising Number of Cases of Cardiovascular Disorders to Bode Well for the Market
According to the World Health Organization (WHO), cardiovascular diseases are the number one cause of global deaths, killing close 17.6 million people every year. The American Heart Association (AHA) estimates that by 2030, this number will rise to 23.6 million. In the US alone, according to the AHA, cardiovascular diseases killed more than 800,000 Americans (1 in every 3) in 2016. The WHO states that this trend is going to worsen owing to the increasingly sedentary lifestyle of people, lack of physical activity, rampant pollution, and unhealthy dietary habits.
These disorders usually have a cascading effect on the rest of the body in form of high blood pressure, respiratory disorders, among others. The only way to treat these issues is through surgery, which augurs well for the surgical sutures market, since these devices are indispensable to surgical procedures. Furthermore, absorbable sutures are experiencing high demand as they are assimilated into the body, making it the most dominant segment in the market.
Wide Scope for Innovation to Open Up New Vistas for Players
Key players are progressively turning their attention to innovation so as to diversify their product portfolio and deepen their presence in the surgical sutures market. For example, in September 2016, Dutch Mellon launched a novel suturing technology that can enable suturing using a single hand. The method is expected to reduce surgical complications as it will be empowered by the company’s disposable Switch technology. In November 2017, Teleflex Medical introduced its Force Fusion Fibre Suture that has a better pressure dispersion feature, enabled with a round and braided suturing technique.
Fortune Business Insights has profiled some of the major competitors in this market:
- Coloplast Corporation
- Apollo Endosurgery, Inc.
- CP Medical
- Molnclyke Healthcare
- Boston Scientific Corporation
- Internacional Farmacéutica
- Demetech Corporation
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Key questions answered in the Surgical Sutures Market report:
What will the market growth rate of Surgical Sutures Market in 2026?
What are the key factors driving the Global Surgical Sutures Market?
What are sales, revenue, and price analysis of top manufacturers of Surgical Sutures Market?
Who are the distributors, traders and dealers of Surgical Sutures Market?
Who are the key vendors in Surgical Sutures Market space?
What are the Surgical Sutures Market opportunities and threats faced by the vendors in the Asia Surgical Sutures Market?
What are sales, revenue, and price analysis by types, application and regions of Surgical Sutures Market?
What are the market opportunities, market risk and market overview of the Surgical Sutures Market?
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