The global surgical sutures market size was USD 3.33 billion in 2020. The market is projected to grow from USD 3.41 billion in 2021 to USD 5.12 billion in 2028 at a CAGR of 6.0% in the 2021-2028 period. This information is published by Fortune Business Insights™ in its report titled, “Surgical Sutures Market, 2021-2028.”
As per our researchers, the rising occurrence
of road accidents and long-lasting diseases, occasioning in a greater percentage
of patients going through various types of surgeries comprising ankle
arthroplasty, hip replacement, bypass surgery, and many such others.
For example, as per the World Health
Organization (WHO), until February 2020, about 20-50 million patients experienced
non-fatal injuries, among which few led to bone fracture, and have successively
undergone ankle arthroplasty and additional bone operations. This is anticipated
to sway the demand for this gadget in the upcoming years and, in return, is estimated
to enhance the surgical sutures market growth during the mentioned timeframe in
a substantial method.
List
of Key Players Covered in the Surgical Sutures Market Report
·
- B. Braun Melsungen AG (Melsungen, Germany)
- Johnson & Johnson Services, Inc. (New Brunswick, U.S.)
- Smith & Nephew (London, U.K.)
- Medtronic (Dublin, Ireland)
- Coloplast A/S(Humlebaek, Denmark)
- Apollo Endosurgery, Inc. (Austin, U.S.)
- Boston Scientific Corporation (Marlborough, U.S.)
- DemeTECH Corporation (Miami, U.S.)
- TEPHA INC. (Lexington, U.S.)
- Internacional Farmacéutica (Cuahutemóc, Mexico)
- Kono Seisakusho Co., Ltd. (Ichikawa City, Japan)
 |
Report
Coverage
The report presents a systematic study of the surgical
sutures market segments and a thorough analysis of the market overview. A
thoughtful evaluation of the current market trends as well as the future
opportunities are offered in the report. Moreover, it presents an exhaustive
analysis of the regional insights and how they help to form the market growth.
The COVID-19 impacts have been discussed in the report to assist investors and
business owners with a better understanding of the possible threats present in
the market. The report further discusses the key manufacturers of surgical sutures and their
prominent strategies to stay in the dominating position.
Drivers and Restraints
Increasing Number of Surgical Procedures to Boost Market Growth
Surging patients signing
up for knee and hip replacement, hysterectomy, bypass operation, and cosmetic and
beautification surgeries is uplifting the usage of the surgical sutures device
to fix the injuries
at a rapid pace.
However, on the
contrary, the obtainability of substitute products for injury curing, such as
surgical staplers, is curbing the growth of this market. In spite of all the
technological progression in these apparatuses, some disadvantages are preventing
its utilization into the surgical process. Few of the restrictions comprising
cross-hatched marks, surgical site infection, huge cost of anti-bacterial
sutures are limiting the implementation of sutures among the surgery specialists.
Read
a Detailed Summary of This Report: https://www.fortunebusinessinsights.com/industry-reports/surgical-sutures-market-100660
Rescheduling of Optional
Surgeries amid COVID-19 to Drop Demand for Surgical Sutures
The COVID-19 had a destructive impact on
the global market for surgical sutures. Several significant market players observed
a drop in the 2020 income in comparison with the prior financial year. The
government and healthcare officials took an important decision by suspending optional
operations, considering the thought to reserve the healthcare assets for the COVID-19
emergency. For example, as per data provided by THE PUBLISHING PVT LTD., the
estimation said that about 81.7% of operations linked to the benign condition,
37.7% of surgical cancer treatment should be postponed owing to the COVID-19
pandemic globally.
Regional
Insights
North America held the highest
surgical sutures market share and was worth USD 1.34 billion in 2020. This is owing to the increasing occurrence
of chronic diseases leading to a huge number of patients being forced to have
surgeries, resulting in an upsurge in demand for surgical sutures.
The market size in Europe is projected
to develop with a substantial CAGR owing to advanced healthcare infrastructure
in leading countries such as Germany, U.K. and the unveiling of innovative
suturing apparatus by Smith & Nephew and various other surgical sutures providers in
this region.
Asia Pacific is estimated to grow
at a higher CAGR throughout the forecast period on account of escalating
incidence of gynecological and cardiovascular illnesses leading to an
increasing number of operations, expanding mindfulness for innovative surgical
devices, and emphasis on major players in developing nations.
Competitive
Landscape
Introduction of
Technologically Advanced Products by Key Players to Spur Market Growth
The global market is conquered by few reputable
players such as B. Braun Melsungen AG, Ethicon US LLC, and Medtronic in 2020. Strong
emphasis on modernization of novel technology in suturing gadgets to accomplish
the intricate surgical process, the extension of production size are some of
their tactics to embrace the existing market places. On the contrary, developing
players such as DemeTECH Corporation, Apollo Endosurgery, Inc., and others are aiming
at emerging novel products in developing as well as developed countries to control
the majority of the market shares.
Industry
Development
December 2020: Apollo Endosurgery, Inc., was granted
the U.S FDA sanction of the X-Tack endoscopic HeliX appending system to expand
the usage of this novel technology.
Read
Press Release: https://www.fortunebusinessinsights.com/press-release/surgical-sutures-market-9145
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