Rockville, July 08, 2024 (GLOBE NEWSWIRE) -- Worldwide revenue from the surgical suture market is set to reach US$ 4.73 billion in 2024 and ascend to US$ 6.85 billion, with a growing CAGR of 3.8% by 2034. Technological advancements such usage of different synthetic materials that have exceptional tissue-holding capacity and almost no risk of infection or scarring are key factors driving market growth.
Knotless, bioactive, antimicrobial, and electronic sutures have made it feasible to monitor for leaks and infections in the wound. With the continuous development of surgical sutures containing stem cells and drugs, medication delivery to the surgical site is becoming more efficient.
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Another important factor driving up the number of surgical procedures is the increasing number of accidents and trauma cases, which is contributing to the surgical suture market growth. To increase elective operations, hospitals, and ambulatory care centers are always coming up with new strategies, which increases demand for the target product.
Key Takeaways from Market Study
- The global market for surgical sutures is projected to expand at a CAGR of 3.8% from 2024 to 2034.
- The North American market is forecasted to reach US$ 2.52 billion by the end of 2034.
- The South Asia & Pacific market is calculated to expand at a CAGR of 4.5% from 2024 to 2034.
- By source, the synthetic surgical suture segment is calculated to reach a value of US$ 3.52 billion by 2034.
- India is set to hold 53.3% market share in the South Asia & Pacific region in 2024.
- The market in China is evaluated to expand at a CAGR of 5.3% through 2034.
- The Japan surgical suture market is forecasted to reach US$ 330.1 million by the end of 2034.
- Based on end users, demand for surgical sutures from hospitals is calculated to reach a market value of US$ 3.34 billion in 2024.
- Sales of absorbable surgical sutures are forecasted to reach US$ 4.28 billion by the end of 2034.
“Efficacy and safety of surgical procedures are being improved via the use of sophisticated surgical sutures made from materials with superior tissue-holding capacities, which is driving market expansion,” says a Fact.MR analyst.
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Popularity of Absorbable Surgical Sutures Gaining Traction
Growing demand for absorbable surgical sutures is driven by their advanced wound closure capabilities. Absorbable sutures decrease the risk of complications as they naturally break down in the body over time, unlike non-absorbable sutures that require removal. This benefit improves patient comfort and convenience while reducing the risk of infection and tissue damage. By promoting tissue repair in the crucial early stages and gradually diminishing in strength as the wound heals, absorbable sutures expedite faster wound healing.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the surgical suture market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (absorbable, non-absorbable), source (natural, synthetic, coated, uncoated), application (cardiovascular, general surgery, ophthalmic, orthopedic, dental, gastroenterology, gynecology, plastic surgery, veterinary), and end-user (hospital laboratories, specialized clinics, ambulatory surgical centers, veterinary hospitals, veterinary clinics), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
Leading Players Driving Innovation in the Surgical Suture Market:
Key industry participants like 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. are driving the surgical suture industry.
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