Surgical Sutures Market To Be Driven By Demand From The Healthcare Industry In The Forecast Period Of 2023-2028
The new report by Expert Market Research titled, ‘Global Surgical Sutures Market Share, Size, Price, Trends, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global surgical sutures market, assessing the market based on its segments like product, filament, application, end use and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2020): USD 4.5 billion
• Forecast CAGR (2023-2028): 5.5%
• Forecast Market Size (2028): USD 10.7 billion
The market for surgical sutures has seen substantial growth due to factors such as growing number of surgical procedures and the robust growth of the healthcare industry. Also, increased knowledge across different industries offers an enormous market opportunity for key players in the surgical sutures market. In the coming years, the increasing focus on the development of advanced technological suture designs is expected to propel the growth of the global surgical suture industry.
Some of the other factors that are expected to drive the growth of global demand for surgical sutures over the forecast period are the rise in the prevalence of chronic diseases, a rapidly growing population, and an increase in health care expenditure.
Industry Definition and Major Segments
Surgical sutures are surgical instruments that are used during surgery or accident to close wounds. When the suture is applied, there is a chance of infection at the wound site. Antimicrobial sutures have been produced that are coated with materials for antimicrobial action. The antimicrobial suture is specifically designed to prevent, speed up, and strengthen the healing process of infections at the surgical/injury site.
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Based on the product, the industry is divided into:
• Suture Threads
• Automated Suturing Devices
Based on the Filament, the industry is divided into:
• Monovalent Sutures
• Multivalent Sutures
Based on the application, the industry is divided into:
• General Surgery
• Cardiovascular Surgery
• Orthopaedic Surgery
• Gynaecological Surgery
• Cosmetic and Plastic Surgery
Based on the end use, the industry is divided into:
• Ambulatory Surgical Centers
The regional markets for surgical sutures include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Geographically, North America is one of the world’s leading regions in the field of surgical sutures. The development in the area is guided substantially by the United States of America. The significant growth in demand for surgical sutures can be attributed to the increased demand for healthcare services and to rapid technical developments in healthcare facilities. The sector is experiencing rapid growth due to the government’s increased investment and expenditure in healthcare facilities.
Owing to the rise in medical tourism by different emerging industries, the growth of the industry is also getting a boost. It is also expected that the increasing number of manufacturers of surgical sutures will drive the growth of the industry. On online shopping sites like Amazon, medical sutures or training sutures are also available. In the treatment of inner organ surgical site closure, the absorbable sutures are highly useful. Based on the areas of the body to be used on, the natural sore and synthetic sources have their benefits. Based on the absorbable or non-absorbable character, they normally degrade in the soft tissues within 60 days or more.
The acceptance rate and use are much higher than non-absorbable because the source is collagen, copolymer, and polyester polymers, which are readily available and easily produced. In 2003, Ethicon, Inc., a Johnson & Johnson corporation, marketed the first antibacterial suture. The Centres for Disease Control and Prevention (CDC) suggests the use of antibacterial sutures treated with triclosan to combat bacterial adhesion and reduce infections at the surgical site. In addition, this market segment is expected to see positive results with the growing number of surgeries and increasing lifestyle diseases, such as obesity, diabetes, heart disease, and stroke.
Key Market Players
The major players in the market are Medtronic, plc, B. Braun Melsungen AG, Johnson & Johnson Services, Inc., Teleflex Incorporated, Smith & Nephew, DemeTECH Corporation, Internacional Farmacéutica S.A. de C.V., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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