Surgical Sutures Market size is set to grow by USD 1102.57 mn from 2023-2027. Increase in volume of surgeries boost the market- Technavio
NEW YORK, March 11, 2024 /PRNewswire/ -- The global surgical sutures market size is estimated to grow by USD 1102.57 mn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of over 4.68% during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 36%. For more insights on the historic (2017 - 2021) and forecast market size (2023-2027) - Request a sample report
The global surgical sutures market is experiencing growth due to the increasing number of surgeries and chronic diseases. Key market players include CP Medical, Atramat, Medtronic (Covidien), DemeTECH Corporation, Teleflex Incorporated (Teleflex Medical OEM), Sutumed, Kono Seisakusho Co., Ltd, Mani Inc., Olimp- Surgical Sutures, Lotus Surgicals, Unisur Lifecare Pvt Ltd. (Universal Sutures), GMD Group, Dynek Pvt Ltd., Unilene, Advanced MedTech Solutions Pvt. Ltd, Corza Medical, and Dolphin Sutures. These companies provide surgical sutures, which are essential for sealing wounds during injury treatment and surgery. Chronic conditions such as hypertension, spinal abnormalities, cardiovascular diseases, gastrointestinal diseases, urological diseases, diabetes, cancers, and orthopedic deformities contribute to the market's expansion. According to the CDC, approximately 117 million people in the US had one or more chronic illnesses in 2012. The valuation of the surgical sutures market is driven by the demand for tissue healing solutions for various injuries and surgeries, including skin repair.
Market Overview
The Surgical Sutures Market encompasses products utilized for internal tissue alignment and organ repair during therapeutic procedures. This market includes segments for Absorbable Sutures, such as knotted and knotless varieties, and Non-absorbable Sutures, with knotted and knotless options. Sales analysis reveals significant growth in the Wound Closure Devices market, driven by technological advancements and synthetic materials. Absorbable sutures, like those coated with triclosan-polyglactin 910, minimize scar formation and combat infection. Technological innovations include suture coatings, braiding technologies, and barbed sutures. Specialty sutures, including antibacterial-coated sutures like Dolphin Sutures, further enhance infection prevention and healing. The Surgery Market's expansion is fueled by advancements in suture materials and techniques, addressing the needs of various surgical applications.
Market Segmentation by Product
The surgical sutures market refers to the industry focused on providing patient outcome improvement through safe recovery solutions. Key stakeholders include payers, healthcare facilities, regulators, and decision-making groups. Reimbursement policies and healthcare coverage are significant factors influencing market growth during the forecast period. Key opportunities lie in the aging population, road accidents, trauma, burns, cosmetic procedures, orthopedic procedures, cardiovascular procedures, and surgical procedures. Reimbursement schemes, portfolio expansion, strategic selling, and distribution channels are essential strategies for market players. Chronic diseases, surgical procedures, surgical techniques, minimally invasive procedures, healthcare infrastructure, and healthcare services are crucial aspects impacting market trends. Healthcare professionals, complications, and regulatory requirements also play a role in shaping the market landscape. New players and pricing pressures contribute to market competition. Prevalence of chronic diseases, aging population, surgical interventions, joint replacements, cardiac procedures, orthopedic interventions, wound closure solutions, surgical staples, tissue adhesives, hemostats, and alternative wound closure methods are significant application areas. Manufacturers, distributors, research and development organizations, and end users are the primary market participants. The surgical suture thread segment is a key product category, with applications in hospitals and cardiovascular surgeries.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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