According to a new report published by Report Ocaen, titled, “Surgical Sutures Market by Type, Material, and Application: Opportunity Analysis and Industry Forecast, 2020–2027,”the global surgical sutures market was valued at $4,350.12 million in 2019, and is projected to reach $6,115.02 million by 2027, registering a CAGR of 5.60% from 2020 to 2027.
DOWNLOAD SAMPLE PAGES @ https://www.reportocean.com/industry-verticals/sample-request?report_id=AMR1396
Surgical sutures or stitches use surgical threads and suturing devices to hold the tissues together to repair wounds and surgical incisions. Sutures must be strong and flexible so that they can be knotted and tied easily. They should be water & fluid resistant and biocompatible to prevent the spread of infection and/or any adverse reaction on the body. The major factors that drive the growth of this market include rise in adoption of technologically advanced products, surge in ageing population & related increase in incidence of various chronic diseases, increase in awareness about healthcare, and rise in number of hospitals across the globe. However, pitfalls such as incompetent quality assurance, lack of proper sterilization, and dearth of skilled professionals & technicians are expected to hinder the surgical suture market growth during the forecast period.
The surgical suture market is negatively impacted by the outbreak of the COVID-19 pandemic, owing to closure of many hospitals due to shortage of staff. This has postponed elective surgeries to limit the spread of disease while preserving hospital capacity and resources.
Aerosol is generated during procedures such as intubation, electrocautery of blood, and catheter insertion. This makes healthcare highly susceptible to acquiring infection from patients who are suspected to have infection. Furthermore, reduced general surgical procedure impact the surgical sutures market in a deleterious manner.
The global surgical suture market is segmented into product type, application, and region. Depending on product type, the market is categorized into automated suturing devices and sutures. The sutures segment accounted for the largest share of the product market in 2019, and is expected to dominate throughout the forecast period. The sutures segment is further divided into absorbable sutures and nonabsorbable sutures. The absorbable suture breaks down in tissue after a given period of time and degrades as a wound or incision heals, whereas nonabsorbable suture resists the body’s attempt to dissolve it and needs a removal after the wound/surgical incision is healed. The absorbable sutures segment holds the largest share of sutures market in 2019, and is anticipated to continue its dominance during the forecast period.
On the basis of material, the surgical sutures market is bifurcated into monofilament sutures and multifilament sutures. Multifilament sutures are braided sutures with multiple threads of material and they come with a coating of different materials, such as silicon, and wax. The multifilament segment accounted for the largest share of the surgical sutures market in 2019.
Depending on application, the market is fragmented into cardiovascular, general, gynecological, orthopedic, ophthalmic, and other surgeries. The general surgeries application segment held the major share of the surgical sutures market in 2019. The growth of this segment is driven by rise in demand for surgical sutures in abdominal and other general surgeries. However, the cardiovascular surgeries segment is anticipated to grow at a fastest CGAR during the forecast period.
Region wise, North America was the highest revenue contributor in 2019. The market growth in North America is attributed to rise in adoption of advanced absorbable & antibacterial coated sutures, increase in incidence of various chronic diseases, and development of the wound management sector. Europe was second largest region in the global market in 2019. However, Asia-Pacific is the fastest growing region with the CAGR of during the forecast period, due to rise in number of surgical procedures, increase in incidence of chronic diseases, and surge in demand for enhanced healthcare services from large patient population.
Key findings of the study
In 2019, suture was the leading segment, accounting for 84% of the suture market, and is projected to grow at a CAGR of 5.50% during the forecast period.
North America accounted for the share of 48.41% of the global surgical suture market in 2019, and is projected to grow at a CAGR of 5.10%.
U.S. is the major shareholder, accounting for 91.09% share of the North American surgical suture market in 2019.
Some of the key players operating in the market include B Johnson & Johnsons., B. Braun Melsungen AG, Smith & Nephew, Demetech Corporation, Conmed Corporation, W.L. Gore & Associates, Boston Scientific, Medtronic Inc. and Healthium MedTech, Peters Surgical, and Surgical Specialties Corporation.