Surgical sutures market size to grow by USD 5038.6M

Vantage Market Research’s recent analysis of the global surgical sutures market finds that the increasing percentage of road injuries is expediting market growth. Primarily driven by rising number of surgical procedures, the total global surgical sutures market is estimated to reach USD 5,038.6 Million by the year 2028.

The global market revenue stood at a value USD 3,592.5 Million in the year 2021 and is projected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 5.8%.

Furthermore, the increase in geriatric population is also anticipated to augment the growth of the global surgical sutures market, states Vantage Market Research, in a report, titled “Surgical Sutures Market Size, Share & Trends Analysis Report by Product (Nature of absorbent, non-absorbable sutures, type Of coating, automated suturing devices), by application (Cardiovascular surgery, general surgery, gynecological surgery, orthopedic surgery), by end user (Hospitals, Ambulatory Surgical Centers (ASCs), clinics & physician offices), by region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”.

Market dynamics:
Rising percentage of road injuries to stimulate global surgical sutures market
The increasing percentage of road injuries is anticipated to augment the growth of the surgical sutures market in the years to come. According to WHO estimates, over 1.3 million people die on the roads each year, and nearly 20 to 50 million individuals suffer non-fatal injuries that result in impairment as a result of their injury. Furthermore, the fatality rate jumped from 1.28 fatalities per 100 million VMT in the first half of 2020 to 1.34 fatalities per 100 million VMT in the first half of 2021, according to the Federal Highway Administration. As seen from the data, there is an increase in the need for surgical sutures. Furthermore, the growing prevalence of chronic diseases, particularly among the elderly, will significantly increase the number of surgical treatment procedures performed, driving the demand for and use of surgical sutures.

The surgical sutures market covers the following key insights & findings:

• Exclusive summary: Basic statistics on the global surgical sutures market.
• The changing effect on market dynamics – global part provides driving factors, trends, challenges and opportunities; post-Covid analysis.
• View 2022-2028 by type, end user and region/nation.
• Evaluate industry by market segments, countries/regions, manufacturers/companies, revenue share and sales of these companies in these various regions of major countries/regions (2022-2028).
• Understand the structure of the surgical sutures market by identifying its various sub-segments.
• Researchers shed light on market dynamics, such as drivers, restraints, trends, and opportunities.
• It offers massive data about the trending factors that will influence the progress of the market.
• In-depth understanding of surgical sutures Market drivers, restraints, and major micro markets.
• Regional analysis: Asia Pacific Region to Stand Firm on its Leading Position in the industry.
• Key strategic developments: The study also includes the key strategic developments of the market, new product launch, comprising R&D, mergers and acquisitions, collaborations, joint ventures, agreements, partnerships, and regional growth of key competitors operating in the market globally and regionally.

Surgical sutures market is segmented as follows:

• Product
  • Nature of absorbent
  • Non-absorbable sutures
  • Type of coating
  • Automated suturing devices
• Application
  • Cardiovascular surgery
  • General surgery
  • Gynecological surgery
  • Orthopedic surgery
  • Ophthalmic surgery
  • Cosmetic & plastic surgery other applications
• End user
  • Hospitals
  • Ambulatory Surgical Centers (ASCs)
  • Clinics & physician offices
• Regions
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Growing number of surgical procedures to accelerate market growth
The increasing number of hip replacements, knee replacements, bypass surgeries, hysterectomy, and cosmetic surgeries is anticipated to augment the growth of the Surgical Sutures Market within the estimated period. According to a report by Healthline Media, roughly 600,000 knee replacement procedures are conducted in the United States each year. According to Texas Heart Institute data, about 200,000 coronary artery bypass graft procedures are conducted in the United States each year. Furthermore, due to the rising incidence of surgical operations such as joint replacement, angioplasty, and organ transplant among senior patients, the need for and acceptance of surgical sutures is expanding. As a result, the demand for innovative gadgets in healthcare settings around the world is increasing. The aforementioned reasons are driving the surgical sutures growth in the forecast period by increasing the usage of these devices by healthcare professionals. However, the increasing preference for minimally invasive surgeries along with presence of alternative wound care management products are expected to hamper the growth of the market in the years to come. Moreover, the increase in initiatives and efforts in low- and middle-income countries are expected to create immense opportunities for the growth of the market within the forecast period.

Covid-19 impact analysis:
The Covid-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the medical devices industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of Covid-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

1. Impact assessment of Covid-19 Pandemic
   1. North America
   2. Europe
   3. Asia Pacific
   4. Latin America
   5. Middle East & Africa
2. Quarterly market revenue forecast by Asia Pacific 2020 & 2021
3. Key strategies undertaken by companies to tackle Covid-19
4. Long term dynamics
5. Short term dynamics

Regional analysis:
North America dominated the global surgical sutures market
North America held the largest shares in 2021. The U.S. held the largest share in North America for the global surgical sutures market. This is due to the increasing prevalence of lifestyle diseases in the region. Furthermore, the market’s regional growth is likely to be fuelled by rising geriatric population along with favourable healthcare reforms in the region. Additionally, the growing number of surgical procedures performed is also projected to drive the growth of the surgical sutures market in the region.

List of prominent players in the surgical sutures market:

• Medtronic Plc (Ireland)
• Johnson & Johnson (US)
• Advanced Medical Solutions Group plc (UK)
• Internacional Farmacéutica S.A. de C.V.(Mexico)
• and B. Braun Melsungen (Germany)
• Smith & Nephew (UK)
• Boston Scientific Corporation (US)
• Peters Surgical (France)
• Deme TECH Corporation (US)
• Surgical Specialties Corporation (US)
• Dolphin Sutures (India)
• Derma Sciences (US)
• Stryker Corporation (US)
• Healthium MedTech (India)
• CONMED Corporation (US)
• Sutcon Sutures (Indonesia)
• Zimmer Biomet (US)
• GPC Medical (India)
• Sutumed
• CPT Sutures (India)
• Lotus Surgicals (India)
• Vital Sutures (US)
• Unilene (India)
• Mellon Medical B.V.(Netherlands)
• Riverpoint Medical (US)

Vantage Market Research