Seattle, June 16, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global sutures market is estimated to be valued at US$ 3,688.50 million in 2022 and expected to exhibit a CAGR of 8.3% over the forecast period (2022-2030).
Key Trends and Analysis of the Global Sutures Market:
Key market players are focused on making investments and purchase agreements regarding sutures, which is expected to drive the growth of global sutures market. For instance, in September 2019, VirtaMed AG, a Switzerland-based medical training company entered into a collaboration with Smith & Nephew, a U.K.-based medical equipment manufacturer to provide medical training and education to dentists with regard to the use of basic surgical techniques in dentistry such as suturing.
Increasing innovation in technology for the development of sutures is expected to drive the market growth over the forecast period. In September 2020, Smith & Nephew, a U.K.-based medical equipment manufacturing company, launched NOVOSTITCH PRO Meniscal Repair System, a technologically advanced automated suturing device to expand its product portfolio.
The increasing number of surgeries such as cosmetics, bariatric, cardiovascular, and others is expected to drive the market growth over the forecast period. According to the International Society of Aesthetic Plastic Surgery Global Survey 2020, it was estimated that around 10,129,528 surgical procedures were performed around the globe in 2020.
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Key Market Takeaways:
The global sutures market is expected to exhibit a CAGR of 8.3% over the forecast period, owing to Key companies in the market focusing on product approval, which is expected to drive the market growth over the forecast period For instance, in January 2022, Endo Tools Therapeutics (ETT), developers of advanced endoscopic medical devices for use by gastroenterologists, announced the U.S. Food and Drug Administration (FDA) 510(k) clearance of the endomina system, designed for endoscopic placement of suture and approximation of soft tissue in the gastrointestinal tract on the adult population. Endomina System is a new suturing tool used by gastroenterologists.
North America sutures market is expected to exhibit significant growth, owing to the increasing launches of sutures For instance, in August 2017, Ethicon, a part of Johnson & Johnson, a healthcare company, announced the U.S. launch of the ProxiSure Suturing Device, an advanced laparoscopic suturing device featuring Ethicon endomechanical, suture, and curved needle technology.
Competitive Landscape:
Key players operating in the global sutures market include Medtronic Plc, Johnson & Johnson, SMI, Advanced Medical Solutions Group plc, GMD Group (General Medical Disposable), Bentley Healthcare Pvt. Ltd., Lotus Surgicals, Teleflex Incorporated, Sutumed, Lux Sutures, CliniSut, Smith & Nephew Plc, B. Braun Melsungen AG, CONMED Corporation, Unilene, Riverpoint Medical, Unisur Lifecare Pvt. Ltd., Orion Sutures India Pvt Ltd, Dolphin Sutures, Peters Surgical, Meril Life Sciences Pvt. Ltd., Corza Medical, Healthium Medtech Limited, Surgical Sutures Private Limited, DemeTECH Corporation, and Vitrex Medical A/S
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Market Segmentation:
- Global Sutures Market, By Product type:
- Absorbable Sutures
- Natural Sutures
- Synthetic Sutures
- Monocryl Sutures
- AbsVicryl Sutures
- Polyglycoloc Sutures
- Polydioxanone Sutures
- Others
- Non-Absorbable Sutures
- Nylon Sutures
- Stainless Steel Sutures
- Prolene Sutures
- Others
- Absorbable Sutures
- Global Sutures Market, By Application:
- Cardiovascular Surgeries
- Ophthalmic Surgeries
- General Surgeries
- Gynecology Surgeries
- Orthopedic Surgeries
- Other Surgeries
- Global Sutures Market, By Material :
- Monofilament
- Multifilament
- Global Sutures Market, By Raw Origin :
- Natural
- Synthetic
- Global Sutures Market, By End User:
- Hospitals
- Ambulatory Care Centres
- Nursing Homes
- Clinics
- Others
- Global Sutures Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Country
- South Africa
- Central Africa
- North Africa
- By Country
- North America
Related Market Intelligence Reports:
Dental Suture Market, by Product Type (Absorbable and Non-absorbable), by Material Type (Natural and Synthetic), by Technique Type (Mattress Sutures, Crisscross Sutures, Interrupted Simple Sutures, and Continuous Simple Sutures), by End User (Hospitals, Dental Clinics, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 – 2028
Surgical Equipment Market, By Product Type (Surgical Sutures (Absorbable Sutures, Non Absorbable Sutures), Hand Instruments, Electrosurgical Devices), and By Region (North America, Latin America, Europe, Asia Pacific, Middle east & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 – 2027
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