New York, Sept. 25, 2023 (GLOBE NEWSWIRE) -- The global knotless tissue control devices market size is slated to expand at ~4% CAGR between 2023 and 2033. The market is poised to garner a revenue of USD 670 million by the end of 2033, up from a revenue of ~USD 460 million in the year 2022. The primary growth factor for the market is the rapidly increasing number of surgeons and the radically expanding number of surgeries performed worldwide every year.
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According to a report from 2020, it was observed that more than 300 million major surgeries are performed globally each year, with almost 50 million performed in the United States and approximately 20 million done in Europe. Additionally, the continuously growing healthcare industry and the rising research and development expenditure are further expected to boost the market growth.
Increased Hysterectomy and Plastic Surgery Percentage to Drive Market Growth
The market growth of the knotless tissue control devices market can be attributed to the rising demand for minimally invasive cosmetic & gynecological procedures to reduce suturing difficulty, along with the surging number of cosmetic surgeries performed every year, besides the increasing rate of hysterectomies as a treatment for uterine fibroids, endometriosis, and certain gynecological cancers, among other concerns. It was found that in 2018, the United States of America and Brazil accounted for almost 28% of all cosmetic procedures performed globally. Moreover, as per the Centers for Disease Control and Prevention (CDC), each year almost 600,000 hysterectomies are performed solely in the United States. These devices are gradually gaining popularity in the medical industry as they eliminate the need to tie surgical knots which can reduce operating room time and potential knot-related complications, which is also responsible for furthering the market growth in the projected years.
Knotless Tissue Control Devices Market: Regional Overview
The market is divided into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Surging Healthcare Industry to Drive Growth in the North America Region
The knotless tissue control devices market in the North American region is estimated to garner the largest revenue by the end of 2035. With an increasing number of patients, there is rapid growth in the healthcare industry, as well as development in medical device companies and other healthcare infrastructure in the region. The healthcare industry in the United States stood at ~USD 810 billion in 2021. Moreover, the surging number of surgeries, including cosmetic surgeries, has led to an increased demand for knotless barbed sutures and their wider applications in both skin and deeper structures, which are expected to increase the growth rate of the market in North America.
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Growing Geriatric Population to Drive the Growth in the Europe Region
The knotless tissue control devices market in Europe is estimated to garner the highest CAGR by the end of 2035. The market in the region is estimated to grow on the basis of an escalating pool of old people as well as rising aging-related complications such as hypertension, diabetes, back pain, and others, together with the elevating number of surgical operations and procedures, which primarily include bypass surgery, plastic surgery, knee and hip replacements, and others. It was found that the population of older people in the EU-27 is expected to surge from ~90.5 million in 2019 to nearly 129.8 million by 2050. Moreover, surgeries such as cesarean in the middle-aged population are also expected to boost the regional market over the projected years. In 2020, a minimum of 1.10 million cesarean sections were performed in the European Union.
Knotless Tissue Control Devices, Segmentation by Application
- Hospitals
- Ambulatory Surgical Centers
- Trauma Centers
- Medical Device Manufacturers
- Pharmaceutical Companies
- Research Centers and Laboratory
- Others
The hospital segment is anticipated to hold the largest revenue by the end of 2035. The segment growth can be attributed to the rising global burden of diseases as well as the rising number of surgeries that involve the application of popular products such as STRATAFIX suture. Together with the uptrend of minimally invasive surgeries, this has broadened the dependency of patients on hospitals globally, resulting in the growing establishments of hospitals. For instance, a study revealed that there were over 10.000 hospitals in Colombia region in 2020. Moreover, Japan had 8,240 hospitals and the United States had 6,090 hospitals in the same time period.
Knotless Tissue Control Devices, Segmentation by Product Type
- Short-term
- Long-term
- Non-absorbable polymers
The non-absorbable polymers segment is anticipated to hold the largest revenue by the end of 2035. The factors applicable to the growth of the segment include the rapidly rising demand for materials that have a very low friction coefficient, to limit the possibility of tissue damage by the denta clinics, oral surgeons, and jaw surgeons, along with the growing rate of oral and maxillofacial surgery globally. Furthermore, product developments such as those made by Dolphin Sutures (Futura Surgicare Pvt Ltd), which recently expanded its dental product portfolio in India for the first time with the introduction of non-absorbable polytetrafluoroethylene sutures, TEFLENE, are expected to contribute significantly to segment growth over the forecasted period.
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A few of the well-known industry leaders in the knotless tissue control devices market that are profiled by Research Nester are Johnson & Johnson Private Limited, Medtronic plc, Medline Industries, LP, Dalent LLC, Acera Surgical, Kerecis, Guard Medical Inc., Axio Biosolutions Pvt Ltd., Grapheal, Smith & Nephew plc, and other key market players.
Recent Development in the Knotless Tissue Control Devices Market
- Ethicon, Inc. a subsidiary of Johnson & Johnson launched the ECHELON 3000 Stapler which is a digitally enabled device that will provide surgeons with simple, one-handed powered articulation and help with the needs of their patients.
- Smith & Nephew plc, a portfolio medical technology company expanded its line of advanced healing solutions for rotator cuff repair with the launch of HEALICOIL KNOTLESS Suture Anchor.
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