Global Surgical Suture Market Research Report, Market size, Business Growth, Career Opportunities, Industry Trend, Forecast 2026


Posted April 21, 2022 by Prachi001

The global surgical sutures market is projected to reach USD 4.9 billion by 2026 from USD 3.7 billion in 2021, at a CAGR of 6.0% from 2021 to 2026.
 
This report aims to provide detailed insights into the global Surgical Suture Market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.

Expected Revenue Growth:
The global surgical sutures market is projected to reach USD 4.9 billion by 2026 from USD 3.7 billion in 2021, at a CAGR of 6.0% from 2021 to 2026.

The market for surgical sutures is witnessing steady growth primarily due to the increasing number of surgical procedures performed globally. The favorable reimbursement scenario for a number of surgical procedures and the launch of advanced sutures are further contributing to the growth of this market. However, the presence of alternative wound care management products and the growing preference for minimally invasive surgeries are some of the factors expected to limit the growth of this market to a certain extent.

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Key Market Players
Some of the prominent players in the surgical sutures market are Ethicon, Inc. (US), Medtronic plc (Ireland), B. Braun Melsungen AG (Germany), Smith & Nephew plc (UK), Boston Scientific Corporation (US), Peters Surgical (France), DemeTECH Corporation (US), Internacional Farmacéutica (Mexico), Sutures India (India), EndoEvolution, LLC (US), Apollo Endosurgery, Inc. (US), Surgical Specialties Corporation (US), and Mellon Medical B.V. (Netherlands).

According to our analysis, the below factors will play a key role in shaping the growth of the global market:
• The number of COVID-19 cases has been increasing at an exponential rate in the US. This has led to a decline in regular patient visits to hospitals and clinics and has also led to a decline in the number of elective surgeries being conducted per week. According to the Ophthalmology Times article, the number of elective surgeries has reduced from 200 surgeries to only 10 surgeries a week. This may limit market growth in the next two years.
• Due to the rapid spread of COVID-19, there have been supply shortages of medical equipment due to the temporary lockdown of manufacturing sites in areas affected by COVID-19 or travel restrictions impacting shipments.
• The normalization of the global economy will slowly increase the surgical procedures kept on hold, which will, in turn, lead to market growth from the first quarter of 2021.
• Beyond transportation-related delays arising from travel restrictions and some driver shortage issues,
COVID-19 has not hugely impacted supplies of raw materials for adhesives and sealants. However, shortages in three areas, namely, alcohols (which have been diverted toward hand sanitizers and other cleaning products), photoinitiators (used in UV applications and primarily supplied by Europe and China), and dyes and pigments (typically supplied by India, China, and Europe), are being witnessed. This is mainly due to the geographic location of the supplier being a key consideration, with China and India being the most challenging.

• The Suture Threads segment accounted for the largest market share in 2020.
Based on product, the surgical sutures market has been segmented into suture threads and automated suturing devices. In 2020, the suture threads segment accounted for the largest market share of 82.6%. The large share of this segment can be attributed to the greater preference for suture threads for wound closure and their lower cost as compared to automated suturing devices.
• The Multifilament sutures segment accounted for the largest market share in 2020.
Based on type, the surgical suture threads market is segmented into monofilament and multifilament sutures. In 2020, the multifilament sutures segment accounted for the largest share of 67.5% of the surgical suture threads market. The large share of this segment is attributed to the increasing number of complex surgeries, rising geriatric population, and favorable reimbursement policies for hospital treatments.
• The cardiovascular surgery segment accounted for the largest market share in 2020.
Based on application, the surgical sutures market is segmented into cardiovascular surgery, gynecological surgery, orthopedic surgery, ophthalmic surgery, general surgery, cosmetic and plastic surgery, and other applications. The cardiovascular surgery segment accounted for the largest share of 30.4% of the surgical sutures market in 2020. The large share of this segment can be attributed to a large number of cardiovascular surgeries performed across the globe as a result of the high incidence of cardiovascular disease (CVD).
• The hospitals segment accounted for the largest market share in 2020.
Based on end users, the surgical sutures market is segmented into hospitals, ambulatory surgical centers, and clinics and physicians’ offices. Among these, the hospitals segment accounted for the largest market share of 74.7% in 2020. The large share of this segment is attributed to the increasing number of complex surgeries performed in hospitals, rising geriatric population, favorable reimbursement policies for hospital treatments, and the growing number of new hospitals, especially in emerging countries

North America was the largest regional market for surgical sutures market in 2020
• The surgical sutures market is segmented into five major regions—north America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of 47.4% of the global surgical sutures market. The large share of this region is attributed to the growing geriatric population, rising prevalence of lifestyle diseases, favorable healthcare reforms, and the growing number of surgical procedures performed.
• The Asia Pacific region is projected to grow at the highest CAGR of 8.8% during the forecast period, owing to the region’s growing medical tourism industry, rising prevalence of chronic diseases, and favorable reimbursement scenario. Moreover, key surgical suture manufacturers are also focusing on gaining a competitive edge in these high-growth markets, which is aiding the market growth in the Asia Pacific.
• Prominent players in the global surgical sutures market include Ethicon, Inc. (US), Medtronic plc (Ireland), B. Braun Melsungen AG (Germany), Smith & Nephew plc (UK), Boston Scientific Corporation (US), Peters Surgical (France), DemeTECH Corporation (US), Internacional Farmacéutica (Mexico), Sutures India (India), EndoEvolution, LLC (US), Apollo Endosurgery, Inc. (US), Surgical Specialties Corporation (US), and Mellon Medical B.V. (Netherlands).

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Issued By marketsandmarkets.com
Country India
Categories Health , Industry , Internet
Tags surgical suture market , surgical suture market share , surgical suture market size
Last Updated April 21, 2022