The Automated Suturing Devices Market revenues were estimated at US$ 3 Bn in 2021 and is anticipated to grow at a CAGR of 8.7% from 2022-2032, according to a recently published Persistence Market Research report. By the end of 2032, the market is expected to reach a valuation of US$ 7.5 Bn.
The key markets for automated suturing device include cardiac surgeries where the demand growth of automated suturing device was recorded at 9.1% by the end of year 2021.
The key factor which is propelling the automated suturing devices is the rising numbers of the geriatric population which eventually increases the chronic disease number, according to 2016 WHO report, the average global surgery rate was 4,469 procedures per 100,000 persons per year.
The average doctor-to-patient ratio worldwide is less than 80:1000, with Qatar having the highest ratio at 77.4:1000 and Guinea having the lowest at 0.1:1000. There has also been a significant increase in the number of cases of accidents and trauma, with India ranking third globally with the highest number of accidents in 199 countries, followed by China and the United States.
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Key Takeaways from Market Study
- The United States is expected to account for the highest market of US$ 3 Bn by the end of 2032. It is expected to be projected to have an Absolute Dollar Growth of US$ 1758.9 Mn.
- Automated suturing devices market in the UK is projected to reach a valuation of US$ 267 Mn by 2032.
- The use of a disposable automated suturing device is carried-out due to its effective cost than reusable devices and taking into account of patient safety, fiscal responsibility and environmental protection.
The rising number of heart surgeries is fuelling the market of automated suturing devices. This open market segment for automated suturing equipment is projected to grow at a rate of 6.1% by 2027. As the number of older people increases, the incidence of heart disease increases, and the number of open surgery increases. According to the American Heart Association, about 500,000 open heart surgeries are performed each year in the United States.
The automatic suture device works with minimal incisions, low blood loss, reduced needle trauma, and infection-free suturing that plays an important role in the outcome of surgical procedures. It reduces sewing time by 25%, resulting in hospital efficiency and cost savings. The automated suturing devices can articulate and rotate the entire arm from 180° to 360° which causes ease of use to the doctors.
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Competitive Landscape
Key players operating in the Automated Suturing Devices market include
- Medtronic Plc,
- Boston Scientific
- Becton Dickinson
- EndoEvolution
- LSI Solutions, Inc.
- Smith & Nephew, Inc.
- Braun Melsungen AG
- Ethicon, Inc.
- Teleflex Incorporated
- DemeTech Corporation
Some of the recent developments of key Neural Implants providers are as follows:
- In June 2021, Anchora Medical, a subsidiary of Alon Medtech Venture, has announced the closure of a US$ 4.5 million financial grant led by HOYA Corporation and Tal Capital. The money will be used for completing singing use laparoscopic sewing machine by Anchora.
- In November 2020, Healthium Medtech, one of India’s largest medical device companies launched Trubarb. This innovation is a knotless fabric closure that changes the feel of sewing.
- In March 2020, Origami Surgical introduced StitchKit, a patented suture application and acquisition system. The U.S. Food and Drug Administration (FDA) has approved 510k approval for three types of novels for the StitchKit platform for robotic robots.
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