Chicago, Dec. 22, 2023 (GLOBE NEWSWIRE) -- Surgical Sutures market in terms of revenue was estimated to be worth $4.0 Billion in 2023 and is poised to reach $5.5 billion by 2028, growing at a CAGR of 6.4% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. Rising aging population, increased surgical procedures, and increased technological advancements in surgical sutures are some of the key factors expected to drive market growth during the forecast period. However, increasing preference for minimally invasive surgeries, and stringent regulatory standards present a significant hurdle, demanding substantial investments in compliance for both established and new market players. Additionally, the market experiences price pressure due to intense competition, leading to a delicate balance between affordability and maintaining profit margins, which are expected to challenge the market growth in the forecast period.
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Surgical Sutures Market Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | $4.0 Billion |
| Estimated Value by 2028 | $5.5 Billion |
| Growth Rate | Poised to grow at a CAGR of 6.4% |
| Market Size Available for | 2021–2028 |
| Forecast Period | 2023–2028 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Demographics, and End user |
| Geographies Covered | North America, Europe, Asia Pacific, and Latin America |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Low and Middle-Income Countries have opportunities for growth of this market |
| Key Market Driver | Rising surgical procedures and trauma cases to drive the market |
The Surgical Sutures thread segment is projected to be a substantial segment based on the products of the Surgical Sutures market. The dominance of the service segment can be attributed to the long-standing familiarity and established usage of suture threads in surgical procedures contributing to a level of trust among healthcare professionals. Surgeons often rely on their experience and comfort with traditional methods. Also, the cost considerations play a crucial role. Suture threads are generally more cost-effective than automated suturing devices, making them a preferred choice, particularly in settings where budget constraints are significant.
Based on Type, the multifilament suture segment holds a substantial share of the Surgical Sutures market. The multifilament suture segment's dominance over its monofilament counterpart can be attributed to a combination of advantageous characteristics. Multifilament sutures, with their enhanced handling properties, offer surgeons greater flexibility and ease of knot tying during procedures. These sutures also tend to provoke a milder tissue reaction and inflammation, contributing to improved wound healing outcomes. The superior knot security of multifilament sutures is a critical factor, in reducing the risk of unintended knot slippage in surgeries.
In 2022, the North American region held a dominant position in the surgical suture market. This can be attributed to several factors, including the presence of both local and major industry players, comparatively higher suture costs in comparison to other regions, a supportive reimbursement environment, government initiatives, and well-developed healthcare infrastructure. Additionally, the adoption of advanced technologies and a higher average income among the population have significantly contributed to North America's substantial revenue share.
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Surgical Sutures market major players covered in the report, such as:
- Ethicon, Inc. (a subsidiary of Johnson & Johnson) (US)
- Medtronic Plc (Ireland)
- B. Braun SE (Germany)
- Advanced Medical Solutions Group Plc (UK)
- Internacional Farmacéutica S.A. de C.V. (Mexico)
- Healthium MedTech Limited (India)
- Peters Surgical (France)
- Corza Medical (US)
- Boston Scientific Corporation (US)
- DemeTECH Corporation (US)
- Zimmer Biomet Holdings, Inc. (US)
- Stryker Corporation (US)
- Smith & Nephew Plc (UK)
- CONMED Corporation (US)
- Mellon Medical B.V. (Netherlands)
- Unisur Lifecare Pvt. Ltd. (India)
- Assut Europe (UK)
- Katsan Katgüt Sanayi ve Tic. A.Ş. (Turkey)
- Sutumed Corp. (US)
- Aqmen Medtech Pvt. Ltd. (India)
- Futura Surgicare Pvt. Ltd. (India)
- Anchora Medical Ltd. (Israel)
- Lotus Surgicals (India)
- Biosintex (Romania)
- Meril Life Sciences Pvt. Ltd. (India)
- and Among Others
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The study categorizes the surgical suture market based on Product, Type, Application, and End User at regional and global levels.
Surgical Suture market, By Product
- Suture Thread
- Automated Suturing Devices
Surgical Suture Market, By Type
- Monofilament Sutures
- Multifilament Sutures
Surgical Suture Market, By Application
- Cardiovascular Surgery
- General Surgery
- Gynecological Surgery
- Orthopedic Surgery
- Ophthalmic Surgery
- Cosmetic & Plastic Surgery
- Other Applications
Surgical Suture Market, By End User
- Hospitals
- Ambulatory Surgical Centers
- Clinics & Physicians’ Offices
Surgical Suture market, by region
- North America
- US
- Canada
- Europe
- Germany
- UK
- Italy
- Spain
- France
- RoE
- Asia Pacific
- Japan
- China
- India
- RoAPAC
- Latin America
- Middle East and Africa
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Surgical Sutures Industry Recent Developments:
- In January 2023, Ethicon, Inc. partnered with Microsoft (US) to further expand its digital surgery solutions.
- In March 2023, Medtronic plc (Ireland) signed a contract with Vizient (US) for the Touch Surgery Enterprise, allowing surgeons to use data to refine how surgery is taught and executed.
- In December 2021, DKSH (Switzerland) expanded its partnership with Healthium MedTtech Limited. This partnership will help Healthium to provide its products in Thailand, Cambodia, and Laos.
- In June 2021, Healthium acquired VitalCare (UK), a manufacturer of urology consumable care products, through its subsidiary Clinisupplies Ltd. With this acquisition, Healthium strengthened its presence in the urology segment in Europe and the US.
Key Market Stakeholders:
- Medical device companies
- Vendors of surgical sutures
- Healthcare associations/institutes
- Hospitals and clinics
- Research and consulting firms
- Healthcare associations/institutes
- Venture capitalists
- Government agencies
Report Objectives:
- To define, describe, and forecast the global surgical sutures market based on product, type, application, end user, and region
- To provide detailed information regarding the major factors influencing the growth of the global surgical sutures market (drivers, restraints, opportunities, and challenges)
- To analyze micro markets with respect to individual growth trends, future prospects, and contributions to the overall market
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the size of the surgical sutures market with respect to five main regions: North America (the US and Canada), Europe (Germany, the UK, France, Spain, Italy, and the Rest of Europe), Asia Pacific (Japan, China, India, and the Rest of Asia Pacific), Latin America, and the Middle East & Africa
- To profile the key players in the global surgical sutures market and comprehensively analyze their core competencies and market shares
- To track and analyze competitive developments, such as acquisitions, product launches, collaborations, and partnerships, in the market
Related Reports:
Advanced Wound Care Market
Top 10 Medical Device Technologies Market
Minimally Invasive Surgical Instruments Market
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