Surgical Sutures Market is Likely to Garner Revenue of US$ 13.9 Bn at a Steady CAGR by the Year 2032-end. Growth is Attributed to Their Extensive Application in Healthcare - Future Market Insights, Inc.
03 Nov 2022
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Demand for surgical sutures in Europe is expected to register a growth of 5.2% over the next ten years. U.S., China, India, and Germany are the key producers of surgical sutures. Coated sutures (anti-bacterial) are expected to present high growth at a CAGR rate of 5.5% by the end of the forecast period.
NEWARK, Del., Nov. 3, 2022 /PRNewswire/ -- The global
surgical sutures market is expanded at a healthy CAGR of 5.4% across the projection period from 2022 to 2032. The market is expected to enjoy a valuation of around US$ 8.2 Bn by the end of the year 2022 and further reach an estimation of around US$ 13.9 Bn by the year 2032.
As per the latest reports by Future Market Insights, surgical sutures are leading the market in the product segment with a share of about 56.1% in the year 2021, within the global market. The market value of surgical sutures was calculated at approximately 41.4% of the overall US$ 18.8 Bn of the global Wound Closure Devices market in 2021.
The sale of surgical sutures expanded at a CAGR of 4.9% from 2017 to 2021. Surgical sutures have diverse applications as they hold tissues together after any sort of injury or surgery in order to assist the natural process of healing. Common places where these sutures are used are on the skin, internal tissues, organs, and blood vessels.
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After a pre-determined amount of time, the body tends to either absorb or break down the absorbable suture used in surgery. These types of sutures are developed of synthetic materials like caprolactone, polyglycolic acid, polydioxanone, polyglactin, and polyglyconate as well as natural materials like catgut.
There are two types of absorbable sutures: knotted absorbable sutures and knotless absorbable sutures. Once the predetermined time period is over then it is crucial to remove the non-absorbable sutures because they are composed of a substance that is immune to biological bodily processes. They are made use of materials like silk, nylon, polypropylene, and polyester sutures.
There are two types of non-absorbable sutures: knotted non-absorbable sutures and knotless non-absorbable sutures. Over the last few years, the surgical sutures industry went through some major technological advancements which have led to the increased adoption of surgical sutures in comparison to other wound closure methods.
Some of the major advancements within the surgical sutures market include massive utilization of synthetic materials that are imbibed with special tissue-holding properties and are associated with less risk of infection and scar formation, suture coatings, braiding technologies, barbed sutures, and new specialty sutures, which are in the pipeline. Antibacterial-coated suture like Triclosan-coated polyglactin 910 reduces surgical site infection prevalence by 30%. The handling and tension force of these sutures was comparable to standard suture materials.
These surgical sutures are excessively used in therapeutic procedures along with a rising surgery market, incorporating the importance of patient outcome improvement and ensuring safe recovery from surgeries continues to drive the growth of the surgical sutures market. Key players in healthcare facilities and regulators are meticulously focusing on the outcomes of the patient and quality improvement. In addition to that, positive changes in reimbursement policies and widespread healthcare coverage are also expected to drive the market.
Key Market Players
B.Braun Melsungen AG, Johnson & Johnson (Ethicon), CP Medical, Atramat, Medtronic (Covidien), DemeTECH Corporation, Teleflex Incorporated (Teleflex Medical OEM), Sutumed, Kono Seisakusho Co.,Ltd, Mani Inc., Olimp- Surgical Sutures, Lotus Surgicals, Unisur Lifecare Pvt Ltd. (Universal Sutures), GMD Group, Dynek Pvt Ltd., Unilene, Advanced MedTech Solutions Pvt. Ltd, Corza Medical, Dolphin Sutures
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The overall surgical sutures market is known to be highly fragmented owing to the presence of several competitors within the surgical sutures production spheres. In order to meet consumer demand and simultaneously expand their customer base, these companies are implementing methods such as mergers and acquisitions, partnerships and collaborations, and new product launches.
More Insights into the Surgical Sutures Market
India is expected to account for the highest market share by accounting for the total revenue of around 52.3% in the South Asian market in 2021 and is also expected to display growth at a lucrative CAGR of around 7.3% in the global surgical sutures market during the forecast period.
The growth in the Indian market is attributed to the presence of a large number of surgical sutures manufacturers in India which are exporting their products to underpenetrated countries like Vietnam, South Africa, Zambia, Sudan, Portugal, etc.
The U.S. dominates the entire North American region as it accounted for a total market share of around 93.5% in 2021 and is expected to continue to experience the same growth throughout the forecast period. The growth in the market is attributed to the presence of leading market players from this country.
Germany is yet another country that is set to exhibit a CAGR of around 4.4% in the European surgical sutures market across the assessment period. Germany ranks third after China, on the basis of revenue generation with a global market share of around 7.0%.
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Table of Content
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusion & Exclusion
3. Key Market Trends
3.1. Product Type Adoption / Usage Analysis
3.2. Product Type Development Trends/ New Launches
4. Key Inclusions
4.1. Key Regulatory Guidelines
4.2. Key Reimbursement scenario
4.3. Value Chain Analysis
4.4. Product Adoption Analysis
4.5. Key Manufactures Promotional Strategy
4.6. PESTLE Analysis
4.7. Porters Analysis
Source: https://www.futuremarketinsights.com/reports/surgical-sutures-market
Explore FMI's Extensive Ongoing Coverage on Healthcare Domain
Dental Sutures Market Size
: The global dental sutures market reached a valuation of US$ 453.8 Mn in 2021, and poised to expand at a CAGR of 6.5%, surpassing US$ 892.9 Mn by 2032.
Catgut Sutures Market Value
: Sutures are surgical accessories used to hold the body tissue together, which helps in timely healing of a wound. Catgut sutures are used to cure various conditions, such as neuropathic ulcers, chronic wounds, etc.
Dental Diagnostic and Surgical Equipment Market Growth
: Expanding at a CAGR of 7.3%, the global dental diagnostic and surgical equipment market is projected to increase from a valuation of US$ 11.2 Bn in 2021 to US$ 20.6 Bn by 2032.
Directed Energy-Based Surgical Systems Market Share
: The directed energy-based surgical systems market is likely to secure a CAGR of 14% during the forecast period. The market is projected to be valued at US$ 7.98 Bn in 2022 and likely to be valued at US$ 29.58 Bn by 2032.
Biomaterial In Surgical Mesh Market Forecast
: Biomaterials is an organic or artificial material which can be introduced into body tissue as part of an implantable medical device or it can also be used to replace an organ etc.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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