Surgical Sutures Market to hit US$ 6.26 Billion by 2030 | Exclusive Report by Growth Plus Reports

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Sep 30, 2022, 09:10 ET

NEW YORK, Sept. 30, 2022 /PRNewswire/ -- According to a new market research report titled, "Surgical Sutures Market by Material Type (Absorbable and Non-Absorbable), by Structure (Monofilament and Multifilament), by Application (Cardiovascular Surgery, Neurological Surgery, Orthopedic Surgery, Ophthalmic Surgery), - Global Outlook & Forecast 2022-2030" published by growth plus reports, the surgical sutures market is expected to grow at a CAGR of 5.4 % from 2021 to reach US$ 6.26 billion by 2030. Owing to the increased number of surgical needs and improvements in suturing materials, states Growth+ Reports.

Growth Drivers

The prevalence of lifestyle diseases such as cancer, coronary heart disease, cerebrovascular disease, orthopedic problems, and mental illness is constantly increasing. The global surgical suture market is driven by the continuing increase in the prevalence of lifestyle-related diseases and increasing demand for more surgical procedures. Rising healthcare costs in most countries and improving healthcare infrastructure in emerging markets are expected to boost patient numbers. Additionally, major industry players launching products with advanced technology contribute to more precise treatments and increase surgical success rates. Hence, this will lead to the expansion of the global surgical suture market.

The global surgical sutures market has been analyzed from four different perspectives – material type, structure, application, and region.

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Excerpts from 'By Material Type Segmentation'

The global market has been segmented majorly into two distinct categories based on the type of:

Materials
Absorbable
non-absorbable

It has been analyzed that the segment of the absorbable suture dominates the market. This is attributed to the device's advantages like the ability to hold the tough tissues because of its high tensile strength and less healing time. However, the non-absorbable suture segment has a very less market share due to their inability to get absorbed or degraded by the body. They are usually used on surgical sites where slow healing is required.

Excerpts from 'By Structure Segmentation'

Based on the structure, the global surgical suture market has been subdivided into:

monofilament
multifilament surgical sutures

The market was dominated by the multifilament segment in terms of revenue share. During the forecast period, the multifilament category is anticipated to increase at the quickest rate. This is contributed by the multifilament segment's benefits, including great knot security, high tensile strength, and flexibility and can be easily handled. Whereas, the monofilament sutures because of their compromised structure hold a very small share in the market.

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Excerpts from 'By Region Segmentation'

The global surgical sutures market has been segmented into:

North America
Europe
Asia Pacific
Rest of the World

The presence of significant regional players, higher cost of sutures compared to other countries with favorable reimbursement environments, expansion of government programs, and improved medical infrastructure make North America a leader in the surgical sutures market. A large share of North America's sales is also largely due to technological advancements and strong domestic prosperity.

The fastest growing region is expected to be Asia Pacific. This is a result of unmet medical needs in the region, a growing elderly population requiring more frequent surgeries, and increased government investment in the health care system. Another key factor driving the exponential growth of the market in this sector is the rise of medical tourism in countries such as India, Singapore, and Malaysia.

Excerpts from 'Competitive Landscape'

Some of the prominent players operating in the global surgical sutures market are:

B. Braun Melsungen AG
Boston Scientific Corporation
Medtronic plcEthicon, Inc
Covidien plc
Sutures India Pvt Ltd
CONMED CORPORATION
Mellon Medical B.V
Smith & Nephew plc
Peters Surgical
Apollo Endosurgery, Inc
EndoEvolution, LLC

Table of Content

INTRODUCTION

Market Ecosystem
Timeline Under Consideration

Historical Years – 2020
Base Year – 2021
Forecasted Years – 2022 to 2031

Currency Used in the Report

RESEARCH METHODOLOGY

Research Approach
Data Collection Methodology
Data Sources

Secondary Sources
Primary Sources

Market Estimation Approach

Bottom Up
Top Down

Market Forecasting Model
Limitations and Assumptions

PREMIUM INSIGHTS

Current Market Trend (COVID-19 Perspective)
Key Players & Competitive Positioning (2021)

MARKET DYNAMICS

Drivers
Restraints/Challenges
Opportunities

GLOBAL SURGICAL SUTURES MARKET - ANALYSIS & FORECAST, BY MATERIAL TYPE

Absorbable
Non-Absorbable

GLOBAL SURGICAL SUTURES MARKET - ANALYSIS & FORECAST, BY STRUCTURE

Monofilament
Multifilament

GLOBAL SURGICAL SUTURES MARKET - ANALYSIS & FORECAST, BY APPLICATION

Cardiovascular Surgery
Neurological Surgery
Orthopedic Surgery
Ophthalmic Surgery
Others

VALUE PROPOSITIONS RELATED TO THE REPORT:

Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
Comprehensive quantitative and qualitative insights at segment and sub-segment level
Covid 19 impact trends and perspective
Granular insights at global/regional/country level
Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
Blanket coverage on competitive landscape
Winning imperatives
Exhaustive coverage on 'Strategic Developments' registered by leading players of the market

CUSTOMIZATION OPTIONS:

Distributor Landscape Assessment
Pricing Intelligence
Customer Base Assessment
Investment & Initiatives Analysis
'Business Profile' of Key Players

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