The automated suturing devices market is predicted to grow at a noticeable pace during the forecast period. This market growth has been on the back of increasing count of the surgical procedures and rising preference for the minimally invasive surgeries compared to conventional surgical procedures such as gynecological, gastrointestinal, orthopedic, and cardiac surgeries. In addition to this, the rising prevalence of chronic disorders and the growing number of trauma cases and accidents are also driving growth impetus in the market.
The rising count of road accidents serves as a significant factor to stimulate demand opportunities in the automated suturing devices market. These road accidents further lead to a rising number of wound surgeries that are likely to drive growth avenues in the market across the world. Some other accidents also include fall injuries, trauma, sports injuries, and burn-related injuries that require surgical intervention. Thus, owing to these factors, the market has been estimated to experience noticeable growth opportunities during the forecast period.
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Automated Suturing Devices Market: Key Trends
There has been a noteworthy increase in the geriatric population across the world. These people are likely to fuel growth opportunities in the market because of their weaker immune systems. These people are also at a higher risk of some diseases, for example, neurological, orthopedic, and cardiovascular diseases. Thus, owing to this growing population of geriatric people and the requirement for surgical procedures around the world is likely to bolster demand opportunities in the automated suturing devices market.
A large number of surgical procedures across the globe take place every year. Among these increasing counts of surgeries, a large section has been covered by minimally invasive procedures. This factor shows a noteworthy increase in surgeries in the years to come. Thus, a significant increase in the demand avenues in the automated suturing devices market is also anticipated during the forecast period.
Lack of skilled professionals, low availability of the product, and high devices cost are some other factors that are estimated to create hindrance in the market growth. In addition to this, risk of the postsurgical complications among elderly people is also predicted to limit the expansion avenues in the global market.
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Automated Suturing Devices Market: Competitive Dynamics and Key Developments
The key players dealing in the automated suturing devices market have been incorporating various development strategies to drive growth avenues in the upcoming years. Some of these market strategies include mergers and acquisitions, technological partnerships and collaborations, novel product introductions and approvals, R & D activities, strategic initiatives, training services, and regional expansion are adopted by these prominent players to establish a stronghold in the market.
For instance, Apollo Endo-surgery, Inc. has received FDA approval in December 2019 for its Polypropylene Suture-Anchor Assembly. This has been used along with an overstitch endoscope suturing system.
Some key players in the automated suturing devices market are:
- LSI Solutions, Inc.
- Medtronic Plc
- Apollo Endo-surgery
- Boston Scientific
- Smith & Nephew
Automated Suturing Devices Market: Regional Assessment
The automated suturing devices market has been divided on the basis of geographical locations into Europe, the Middle East & Africa, North America, Latin America, and Asia Pacific. Among these regions, North America is likely to hold a dominating position in the regional market. The region is also estimated to retain a significant share in the market revenue. This market dominance has been on the back of the increasing geriatric population and the rising count of surgical procedures. An increased preference for robot-assisted minimally invasive surgeries has been predicted to drive demand avenues in the market during the forecast period.
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