Surgical Sutures Market 2022 Opportunities, Segmentation, Assessment and Competitive Strategies by 2030
When bodily tissues need to be held together during surgery or in the event of wounds and injuries, a surgical suture is referred to as a sort of medical equipment. A needle and a piece of connected thread are used to apply these sutures. Typically, they are constructed from nylon, special silk, or synthetic materials like polyester. Once the incision or injury has healed fully, the sutures are removed. Medical experts also use them to treat ulcer-related wounds and surgical incisions.
The global surgical sutures market is presently worth USD 4.4 billion and is poised to amplify at a CAGR of 5.8% over 2022-2030, thereby amassing a valuation of USD 6.5 billion by end of the assessment timeframe.
Market growth, is associated with factors such as growing demand, earnings from the trade, economic state of that particular region, supply chain and other.
With the advancement in medical technology, certain devices have undergone incredible changes with the designs, shapes, sizes of thread and material used for sutures. Sutures are also known as the threads commonly used to seal or sew a cut on a body due to surgery or accident.
The growth of surgical sutures market is majorly driven by rise in accidents, increase in medical expenditure, rising awareness of cosmetology and development of advanced sutures as film coated sutures. Additionally, rise in awareness about novel surgeries, growing geriatric population, and growing better healthcare facilities is expected to give lucrative opportunities for the market.
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In recent years, there is a rise in number of cosmetic surgeries and aesthetic procedures coupled with rise in disposable income of people. Moreover, during pandemic, exposure to screen-time has also risen due to which, need to look elegant has risen. This has given rise to cosmetology, craniofacial surgery, and microsurgeries.
For instance, as per the report by American Society of Plastic Surgeons (ASPS), the number of cosmetic surgeries grew by 1% during 2016-17 with 17.9 million surgical and minimal invasive cosmetic surgeries. This trend was followed in Europe with 134% increase in Italy, France and Germany.
As per the report submitted by WHO in 2016, globally, over 4,469 operations per 100,000 people are conducted every year, which include surgeries due to road accidents, trauma patients and general surgeries. Additionally, the geriatric population is rising and is at higher risk of contracting chronic diseases and conditions and require frequent surgeries. This reason has influenced the market.
The Surgical Sutures is segmented into Type and Application
The surgical sutures market by Type is further segregated into:
- Absorbable Suture
- Non-absorbable Suture
The surgical sutures market by Application is further divided into:
- Cardiovascular Surgeries
- General Surgeries
- Gynaecology Surgeries
- Orthopaedic Surgeries
- Ophthalmic Surgeries
- Other Surgeries
- Coarse Grain
- Other Feedstock
Based on the geographical view, the market occupies regions like North America, Europe, Asia Pacific, South America, Middle East & Africa. The North American region dominated the market in 2021 with a share of 40%.
Covid-19 impact on the market:
The recent contagion that invaded the world led to devastating effects on economy and human life. It was an unprecedented challenge to economy as a whole; especially, with the health care industry. The surgical suture was negatively impacted. The surgical products alone contribute 60-70% of the market, which had come to stagnancy in the year 2020 and in the first and second quarters of 2021.
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Market Key players
The key players of any market comprise of investors and intermediaries. Businesses are analysing the process that identifies direct competitors to accomplish their mission and vision. Many leading corporations are undertaking acquisitions and development activities to sustain the competition. The market is highly competitive and has witnessed growing competition between vendors. Some of the key players are recorded as Ethicon, B. Braun, Medtronic, Smith & Nephew, Boston Scientific, Peters Surgical, Demetech, Internacional Farmacéutica S.A. De C.V., Healthium Medtech Limited, Apollo Endosurgery
Frequently Asked Questions
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