The report 'Surgical Sutures' Market by Product (Automated Suturing Devices, Sutures), By Application (Cardiovascular Surgeries, General Surgeries, Gynecological Surgeries, Orthopedic Surgeries, Ophthalmic Surgeries, Other Surgeries), By End User (Hospitals, Ambulatory Surgical Centers (ASCs), Clinics & Physician Offices) - Global Forecast to 2028. The Market for Global Surgical Sutures is estimated to reach a market value of USD 6.97 billion by 2030 from USD 3.81 billion in 2020, at a CAGR of 6.23% during the forecasted period. Cosmetic and aesthetic procedures have increased as the senior population has grown, disposable income has increased, new technologies have become available, and procedural safety has improved. The growing popularity of these therapies worldwide presents a significant growth driver for surgical suture manufacturers. The number of cosmetic procedures conducted in the U.S increased by one percent between 2016 and 2017, according to the American Society of Plastic Surgeons (ASPS), with 17.9 Mn minimally invasive and surgical treatments performed in 2017. Similar trends were observed in Europe, with gains of 134 percent in Italy, 0.5 percent in France, and 9% in Germany.
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The 'suture' market sector accounted for 82.6 percent of the market in 2020 in terms of product type.
This market segment has a larger market share due to a higher preference for suture threads for wound closure and their relative economic viability. Moreover, it can also be employed in various surgical procedures, such as minimally invasive surgery, open surgery, female urogenital surgery, and many others.
According to Application, the cardiovascular surgery sector held the largest share of the surgical sutures market in 2020, with 30.4 percent.
The rising prevalence of the cardiovascular disease has resulted in a massive increase in cardiovascular procedures performed worldwide, accounting for the majority of this category (CVD). Due to a growth in the number of cardiovascular surgeries performed worldwide due to the rising number of cardiovascular illnesses, this category has a significant market share.
According to end-users, the 'hospitals' category had the largest market share of 74.7 percent in 2020.
The growing number of advanced surgeries performed in hospitals, the growing geriatric population, attractive payment schemes for hospital treatments, and the increasing number of new hospitals, particularly in emerging countries, contribute to this market's size. Additionally, an increase in the number of accidents requiring hospital surgery, growth in the senior population, and an increase in the number of aesthetic operations are all factors contributing to this segment's market dominance.
In 2020, North America had the highest share of the worldwide surgical sutures market, accounting for 47.4 percent.
The rising geriatric population, rising prevalence of lifestyle diseases, favorable healthcare reforms, an increase in the adoption of advanced absorbable & antibacterial coated sutures, an increase in the number of chronic conditions, progress in the wound management sector, and the growing number of surgical procedures performed are all contributing factors to this region's large share. Also, the Asia Pacific area is predicted to grow at the highest CAGR of 8.8% during the forecast period. It is due to the region's growing medical tourism industry, rising prevalence of chronic diseases, and favorable reimbursement scenario.
The leading market players in the surgical sutures market research report are B. Braun Melsungen AG, Boston Scientific Corporation, Medtronic plc, Ethicon Inc. (Johnson & Johnson), Teleflex Incorporated, Smith & Nephew, CONMED Corporation, DemeTech Corporation, Peters Surgical, Sutures India, EndoEvolution, LLC, Surgical Specialties Corporation, and Mellon Medical B.V.
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