Rockville , June 19, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global surgical sutures market is expected to witness a value of US $ 5,955.8 Mn by the end of 2032 and is predicted to witness a CAGR of 3.1% during the forecast period.
Surgical sutures account for less than two percent of all spending made by hospital and ambulatory surgical centers. Synthetic surgical sutures lead the market across all product categories and are anticipated to account for more than 45% of all surgical suture expenditures over the evaluation period.
Get Free Sample Copy of This Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=4065
North America is predicted to account for a sizable regional share of the global surgical sutures market during the forecast period. The U.S. is anticipated to dominate surgical suture sales in North America with a 92.4% revenue share and a market value of US$ 1,258.5 Million by the end of 2022.
Report Attributes | Details |
| Forecast Period | 2022 - 2032 |
| Forecasted Market Value 2032 | US$ 5,955.8 Million |
| Growth Rate (2022-2032) | 3.1% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 80 Tables |
Key Driving Forces Accelerating the Market Growth
- The rising number of surgical procedures, including general surgeries, orthopedic surgeries, cardiovascular surgeries, and cosmetic surgeries, is driving the demand for surgical sutures.
- The aging population in North America is contributing to the growth of the surgical sutures market. Elderly individuals often require surgical interventions, such as joint replacements, which necessitate the use of sutures for wound closure.
- The development of advanced sutures with improved characteristics, such as absorbability, reduced tissue reactivity, and enhanced wound healing properties, is driving the market growth. Technological advancements, including the introduction of synthetic and biodegradable sutures, are also fueling the demand.
- The rising incidence of chronic diseases, such as cardiovascular diseases, obesity-related conditions, and cancer, is leading to an increased number of surgeries, thereby driving the demand for surgical sutures.
- Minimally invasive surgical techniques are becoming increasingly popular due to their advantages such as smaller incisions, reduced scarring, faster recovery, and lower risk of complications. These procedures often require the use of sutures for wound closure, contributing to market growth.
Key Companies Profiled in This Report
- Peters Surgical
- Smith & Nephew Plc.
- Johnson & Johnson
- B. Braun
- Boston Scientific Corporation
- Medtronic Plc.
- Arthrex Inc.
- Sutures India Pvt. Ltd
- Centenial Surgical Suture Ltd
- Assut Medical S.r.L
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=4065
Vital Indicators Shaping The Future Of The Industry
- Monitoring the market size and its growth rate is crucial to understanding the overall demand for surgical sutures. This indicator can help assess the market's potential and identify opportunities for expansion or innovation.
- Keeping track of technological advancements in surgical sutures is essential. New materials, designs, and manufacturing techniques can improve the efficacy, safety, and patient outcomes associated with sutures. Innovations such as absorbable sutures, antimicrobial sutures, and sutures with enhanced wound healing properties will shape the future of the market.
- Changes in regulations and standards governing the production, marketing, and use of surgical sutures can significantly impact the market. Monitoring regulatory developments, including guidelines from regulatory authorities, helps anticipate shifts in compliance requirements and adapt to evolving industry standards.
- The increasing preference for minimally invasive surgical procedures will influence the demand for sutures. As these procedures continue to gain popularity due to their benefits, such as reduced scarring and faster recovery, the market will witness a shift towards sutures designed specifically for these techniques.
Challenges Hindering The Market Growth
- Surgical sutures face competition from alternative wound closure methods such as surgical adhesives, staples, and sealants. These alternatives may offer advantages like quicker application, reduced patient discomfort, and improved cosmetic outcomes, which can affect the demand for sutures.
- Along with alternative wound closure methods, there are other substitutes available in the market such as advanced wound dressings and tissue sealants. These substitutes may be used in specific cases, reducing the reliance on sutures and impacting market growth.
- The cost of surgical sutures can be a significant factor hindering market growth. Healthcare providers and institutions may prioritize cost-effectiveness and opt for more economical options, impacting the demand for higher-priced sutures.
How Competition Influences The Market
- Intense competition among manufacturers and suppliers of surgical sutures can lead to price competition. Companies may lower their prices or offer discounts to gain a competitive edge and attract customers. Price competition can benefit healthcare providers and patients by making sutures more affordable, but it can also put pressure on profit margins for manufacturers.
- In February 2021, Corza acquired Surgical Specialities Corp, a supplier that has helped the company to expand its product portfolio.
- Competition drives companies to invest in research and development to differentiate their products and stay ahead of competitors. Manufacturers strive to introduce innovative surgical sutures with enhanced properties, such as improved tissue reactivity, absorption rates, and wound healing capabilities. The focus on innovation helps drive market growth and meet evolving customer needs.
- Moreover, the competition encourages companies to expand their product portfolios to offer a wide range of surgical sutures. This allows healthcare providers to choose sutures that best suit their specific requirements. Companies may introduce different types of sutures, including absorbable and non-absorbable variants, to cater to diverse surgical procedures.
Segmentation of surgical sutures Industry Research Report
- By Product Type :
- Absorbable
- Non- Absorbable
- By Source :
- Natural
- Synthetic
- Monofilament
- Braided
- Coated
- Uncoated
- By Application :
- Cardiovascular
- General Surgery
- Ophthalmic
- Orthopedic
- Dental
- Gastroenterology
- Gynecology
- Plastic Surgery
- Veterinary
- By End-user :
- Hospital Laboratories
- Specialized Clinics
- Ambulatory Surgical Centers
- Veterinary Hospitals
- Veterinary Clinics
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & ASEAN
- Oceania
- MEA
For in-depth competitive analysis, Buy Now:
https://www.factmr.com/checkout/4065
Explore More Related Studies Published by Fact.MR Research:
Wound Healing Films Market: The global wound healing films market is estimated to increase from a valuation of US$ 674 million in 2022 and top US$ 1 billion by 2032.
Cardiovascular Disease Monitoring and Diagnostic Devices Market: The market is set to reach a valuation of US$ 4.2 billion by 2027.
Surgical Procedures Volume Market: The surgical procedures volume market is expected to reach US$ 2.6 Billion by the end of 2028.
About Fact.MR
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client’s satisfaction.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Connect to Author: Mr. Shambhu Nath Jha
Email: shambhu@factmr.com
Sales Team: sales@factmr.com
Follow Us: LinkedIn | Twitter | YouTube
