Surgical Sutures Market Size To Rise At 5% CAGR
Market Data Forecast
Surgical sutures are medical aid products used in surgical procedures. Healthcare professionals use sutures to close various wounds on the skin tissues. They are specifically and essentially required in surgeries for the closure of the incisions intentionally made on the body by a surgeon or for wound closure after a traumatic incident. Sutures are extremely important to stop blood loss and fast healing of surgical wounds. There are different types of sutures used for various procedures, and the increasing prevalence of surgeries supports the expansion of this market.
The recent pandemic had a severely negative impact on the surgical sutures market. As the lockdowns were imposed and restrictions were implemented on common trade and product manufacturing and distribution channels, the majority of businesses faced severe losses, including the sutures business. In addition, although the healthcare facilities were extremely pressured and active during the pandemic, the priority of treatment was shifted toward the critical covid patients because rapid influx, and all the other healthcare sectors were postponed and on hold, including surgeries. However, the market has bounced back since the uplifting of the lockdowns and is expected to witness growth.
Rising cases of surgical procedures and types of surgeries are expected to help the market revenue.
The growing cases of chronic illnesses requiring surgeries are driving the market's growth. As a result, there is a rise in the number of surgeries performed, according to statistics. For example, every 100,000 people, on average, undergo surgery, according to the WHO. In contrast, roughly 500,000 open heart operations are performed each year, with about 395,000 just in the US. Additionally, almost 1.3 million pregnant women in the US have a C-section to deliver their babies each year, according to Healthgrades. Additionally, according to the Union Ministry of Health and Family Welfare, under the Health Management Information System (HMIS), more than 14% of births in 2018-19 occurred via C-section.
The rising advances in surgical procedures and the production of better sutures with fast healing and absorption are expected to support the market's rise. Furthermore, the different surgical procedures and the government's support by conducting campaigns and offering reimbursement policies are expected to support the market expansion. Additionally, rising expenditure on healthcare is propelling the market's rise; for example, The National Health Expenditure Account (NHEA) predicts that in 2019, healthcare spending in the US will increase by up to 4.6 percent, reaching $3.8 trillion.
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The adoption and demand for biodegradable sutures help the growth of the absorbable suture segment.
The market by products is divided into sutures and automated suturing devices. The sutures are further divided into absorbable and non-absorbable sutures. The absorbable sutures are further subdivided into natural and synthetic ones, and the non-absorbable ones are subdivided into Nylon sutures, Proline sutures, Stainless steel sutures, and Other Non-absorbable sutures. The automated suturing devices are further divided into Disposable and Reusable. The absorbable sutures segment and the synthetic sub-section are expected to dominate the market during the forecast period due to the rising preference for better sutures that are also biodegradable. In the non-absorbable segment, stainless steel sutures, followed by nylon and proline sutures, are expected to dominate the market revenue.
The growing cases of cardiovascular surgeries are leading to the dominance of the surgical applications segment.
The market by application is divided into, Surgeries, General Surgeries, Gynecological Surgeries, Orthopedic Surgeries, Ophthalmic Surgeries, Orthopedic Surgeries, Ophthalmic Surgeries, and Other Applications. The growing cases of cardiac surgeries are helping the dominance of the surgeries segment. The orthopedic surgeries segment follows the surgeries segment due to the growing cases of orthopedic procedures.
The hospital segment is expected to dominate the market due to the large patient influx.
According to the end-user, the market is divided into hospitals and other end-users. However, the hospital segment is expected to dominate the market due to the growing influx of patients and trusted professionals in healthcare settings: hospitals' widespread reach and advanced infrastructure help their dominance in the market.
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Regional outlook of the global surgical sutures Market:
The global market is expected to assert dominance in the North American surgical sutures market, followed by Asia pacific. Due to hospitals adopting the newest surgical sutures, the North American surgical sutures market, which in 2021 held a 39% share of the global market, is anticipated to maintain its dominance during the forecast period. Additionally, rising capital incomes in developed and developing nations are setting the stage for market expansion. In 2021, the Asia Pacific surgical sutures market held a substantial share of the global market owing to the rising funding from governmental organizations and a growing emphasis on improved therapeutic techniques.
Europe, Latin America, the Middle East, and Africa are expected to show moderate growth throughout the forecast period. In 2022, the European surgical sutures market was worth USD 1.15 billion. From 2022 to 2027, the surgical sutures market in Latin America is anticipated to expand at a CAGR of 5.1%. Furthermore, the Middle East and African surgical sutures market is expected to rise at an inclination rate during the anticipated period.
Analysis of key players in the global surgical sutures market:
The rising key player's investments and activities in the market support the revenue. For instance, DKSH, Asia's top healthcare partner, expanded its collaboration with Healthium Medtech, the world's fourth-largest manufacturer of surgical sutures, in January 2021 to provide top-notch surgical medical device goods Healthium Medtech introduced a knotless tissue closure tool called TrubarbTM in November 2020 for suturing.
Boston Scientific Corporation, 3M Healthcare, Medtronic Inc., Sutures India Pvt Ltd., Smith & Nephew plc, Demetech Corporation, Conmed Corporation, W.L. Gore & Associates and Johnson & Johnson, Inc. are a few of the leading players in the global surgical sutures market.
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