Pune, India, Oct. 10, 2023 (GLOBE NEWSWIRE) -- Global surgical sutures market size was valued at USD 5.03 billion in 2022 and market is projected to grow USD 8.04 billion by 2030, exhibiting a CAGR of 6% during the forecast period. Surgical sutures are utilized in surgical procedures, orthopedic surgery, to close open wounds and ligate blood vessels in operation.
Fortune Business Insights™ displays this information in a report titled, "Surgical Sutures Market, 2023-2030."
Key Industry Development:
February 2023 - Origami Surgical obtained the U.S. FDA’s clearance for its StitchKit device to perform robotic surgeries. The device offers safety, autonomy, and efficiency in robotic surgery.
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Key Takeaways:
- Surgical sutures used in major surgeries, such as C-sections, cardiovascular surgery, joint replacement, and other procedures.
- The growing occurrence of road accidents and chronic ailments has increased the number of surgical procedures, thereby augmenting the surgical sutures market growth.
- The growing demand for automated suturing devices due to their efficiency during surgical intervention.
- The segment is expected to grow with a CAGR during the forecast period.
- North America dominated the market share and stood at USD 1.99 billion in 2022.
List of Key Companies Profiled in the Report:
“Companies leading the global Surgical Sutures Market are B. Braun SE (Germany), Johnson & Johnson Services, Inc. (U.S.), Smith & Nephew (U.K.), Medtronic (Ireland), Coloplast A/S (Denmark), Apollo Endosurgery, Inc. (U.S.), Boston Scientific Corporation (U.S.), DemeTECH Corporation (U.S.), TEPHA INC. (U.S.), Internacional Farmacéutica (Mexico), Kono Seisakusho Co., Ltd. (Japan), CONMED Corporation (U.S.)”
Report Scope:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 6% |
| 2030 Value Projection | USD 8.04 Billion |
| Base Year | 2022 |
| Market Size in 2023 | USD 5.33 Billion |
| Historical Data | 2019 to 2021 |
| No. of Pages | 158 |
| Segments covered | By Product Type, Form, Application, End-user, and Region |
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Segments:
Absorbable Segment to Gain Major Traction due to Numerous Advantages
Based on product type, the market is segmented into absorbable and non-absorbable. The absorbable segment is anticipated to dominate the surgical sutures market share due to numerous advantages such as adequate wound support due to high tensile strength, lesser healing time, and high effectiveness for closing deep and delicate wounds.
Synthetic Sutures to be Widely Used due to Low Chances of Hypersensitivity Reaction
Based on form, the market is divided into natural and synthetic. The synthetic segment is expected to hold a dominant market position as these sutures have lower chances of causing hypersensitivity or allergic reactions.
Orthopedics to Dominate Market due to Growing Incidence of Orthopedic Disorders
In terms of application, the market is fragmented into gynecology, cardiology, orthopedics, general surgery, and others. The orthopedics segment dominates the market due to the growing occurrence of orthopedic ailments among the elderly population and the growing number of people undergoing orthopedic surgeries.
Hospitals & ASCs to Extensively Use Surgical Sutures Due to Growing Number of Surgeries
Based on end-user, the market is segmented into hospitals & ASCs and specialty clinics. The hospitals & ASCs segment is projected to dominate the market due to the growing volume of surgeries and the presence of experienced surgeons in these medical centers.
With respect to region, the market covers North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
By Product Type
- Absorbable
- Non-absorbable
By Form
- Natural
- Synthetic
By Application
- Gynecology
- Orthopedics
- Cardiology
- General Surgery
- Others
By End-user
- Hospitals & ASCs
- Specialty Clinics
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Drivers and Restraints:
Growing Number of Surgeries to Boost Market Progress
The volume of knee replacement, hip replacement, bypass, and cosmetic surgeries is rising each year due to high geriatric population and increasing focus on improving aesthetic appearance. This has boosted the adoption of surgical sutures as they are vital in closing open wounds and speeding up patients' recovery time.
However, the growing chances of complications post-surgery and the availability of alternative wound care products may hinder the market progress.
Regional Insights:
North America to Dominate Market due to Growing Prevalence of Chronic Diseases
North America captured a dominant global market share due to the rising incidence of chronic diseases such as cardiovascular disorders and arthritis. This scenario has increased the number of people undergoing surgeries, fueling the demand for surgical sutures.
Europe is expected to register a significant CAGR due to the growing presence of a well-established medical infrastructure in the U.K. and Germany.
Competitive Landscape:
Medtronic and Other Companies to Dominate Market Due to Presence of Innovative Products
The global market is highly competitive due to the presence of reputed companies such as Medtronic, B. Braun Melsungen, and Ethicon U.S. LLC. Growing focus on launching innovative technologies in their products to help doctors perform complex and intricate surgeries effectively has helped these companies dominate the market.
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FAQs
What is the market size for surgical sutures?
Surgical Sutures Market size was valued at USD 5.03 billion in 2022. It is expected to reach USD 8.04 billion by 2030.
How fast is the surgical sutures market growing?
The surgical sutures Market will exhibit a CAGR of 6% during the forecast period, 2023-2030.
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