The global surgical sutures market size was USD 3.33 billion in 2020. The market is projected to grow from USD 3.41 billion in 2021 to USD 5.12 billion in 2028 at a CAGR of 6.0% in the 2021-2028 period. This information is published by Fortune Business Insights™ in its report titled, “Surgical Sutures Market, 2021-2028.”
As per our researchers, the rising occurrence of road accidents and long-lasting diseases, occasioning in a greater percentage of patients going through various types of surgeries comprising ankle arthroplasty, hip replacement, bypass surgery, and many such others.
December 2020: Apollo Endosurgery, Inc., was granted the U.S FDA sanction of the X-Tack endoscopic HeliX appending system to expand the usage of this novel technology.
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The report presents a systematic study of the market segments and a thorough analysis of the market overview. A thoughtful evaluation of the current market trends as well as the future opportunities are offered in the report. Moreover, it presents an exhaustive analysis of the regional insights and how they help to form the market growth. The COVID-19 impacts have been discussed in the report to assist investors and business owners with a better understanding of the possible threats present in the market. The report further discusses the key manufacturers of surgical sutures and their prominent strategies to stay in the dominating position.
Drivers and Restraints
Increasing Number of Surgical Procedures to Boost Market Growth
Surging patients signing up for knee and hip replacement, hysterectomy, bypass operation, and cosmetic and beautification surgeries is uplifting the usage of the surgical sutures device to fix the injuries at a rapid pace.
For example, as per a report published by HEALTHLINE MEDIA, roughly about 600,000 knee replacement operations are executed annually in the U.S. Similarly, according to records by Texas Heart Institute, around 200,000 coronary artery bypass graft operations are accomplished yearly in the U.S.
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North America held the highest surgical sutures market share and was worth USD 1.34 billion in 2020. This is owing to the increasing occurrence of chronic diseases leading to a huge number of patients being forced to have surgeries, resulting in an upsurge in demand for surgical type of sutures.
The market size in Europe is projected to develop with a substantial CAGR owing to advanced healthcare infrastructure in leading countries such as Germany, U.K. and the unveiling of innovative suturing apparatus by Smith & Nephew and various other surgical sutures providers in this region.
Introduction of Technologically Advanced Products by Key Players to Spur Market Growth
The global market is conquered by few reputable players such as B. Braun Melsungen AG, Ethicon US LLC, and Medtronic in 2020. Strong emphasis on modernization of novel technology in suturing gadgets to accomplish the intricate surgical process, the extension of production size are some of their tactics to embrace the existing market places. On the contrary, developing players such as DemeTECH Corporation, Apollo Endosurgery, Inc., and others are aiming at emerging novel products in developing as well as developed countries to control the majority of the market shares.
Top Key Players Covered:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the global Surgical Sutures market. Some of the companies operating the global Surgical Sutures market are;
- CP Medical
- Demetech Corporation
- Coloplast Corporation
- Molnlycke Healthcare
- BSN Medical
- Boston Scientific Corporation
- Internacional Farmacéutica
- Apollo Endosurgery, Inc.
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Major Table of Content For Surgical Sutures Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Surgical Sutures Market Analysis, Insights and Forecast
- North America Surgical Sutures Market Analysis, Insights and Forecast
- Europe Surgical Sutures Market Analysis, Insights and Forecast
- Asia Pacific Surgical Sutures Market Analysis, Insights and Forecast
- Middle East and Africa Surgical Sutures Market Analysis, Insights and Forecast
- Latin America Surgical Sutures Market Analysis, Insights and Forecast
- Competitive Landscape
- Company Profile
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