Surgical Sutures Market Expected to Reach $5,255 Million, Globally by 2022

The Global Surgical Sutures Market size is projected to reach $5,255 million by 2022 from $3,360 million in 2015, growing at a CAGR of 6.4% during the forecast period.

The market growth is driven by the global surge in surgical procedures due to increased incidences of various chronic diseases and technological advancements in surgical suture products. However, lack of proper sterilization system in healthcare organizations and unfavorable taxation policies are expected to hinder the global surgical sutures market growth.
Surgical suture is a medical tool to stich the cutaneous wound and close the surgical incision. It is used to stich internal organs after surgery, skin, blood vessels, and all other tissues of the human body. Sutures could be absorbable or non-absorbable, with different properties (such as tensile strength and knot security) depending on the need and surgery.

Segment Review

The global surgical sutures market is segmented by product type, application, and region. Based on product type, the market is broadly segmented into automated suturing devices and sutures. The sutures market dominated the market with 85.4% share in 2015 and is estimated to continue its dominance during the forecast period. By type, the global sutures market is bifurcated into absorbable sutures & non-absorbable sutures. Absorbable sutures are widely used in multiple surgeries, especially for surgeries performed on internal organs, as they are biodegradable and get hydrolyzed in the body tissue after a certain period of time. This segment accounts for the largest share of the sutures market in 2015 and is expected to be the fastest-growing market during the forecast period.

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By application, it is classified into cardiovascular, general, gynecological, orthopedic, ophthalmic, and other surgeries. The general surgeries application segment dominated the global surgical sutures market in 2015 and is estimated to continue this dominance during the analysis period. However cardiovascular surgeries segment is estimated to grow at a fastest CGAR of 7.3% during the forecast period. Growth in cardiac diseases patients have led to the rise in number of cardiovascular surgeries, consequently, driving the application of surgical sutures. Moreover, fast moving life and unhealthy food habits are a major reason for increasing cases of cardiovascular diseases, globally.

Geographically, North America had the highest market share in 2015 in global surgical sutures market. This is attributed to the higher adoption of technologically advanced products such as absorbable & antibacterial coated sutures in the region, growth in surgical procedures with increase in prevalence of various chronic diseases, and the development of the wound management sector. However, Asia-Pacific is estimated to be the fastest growing region due to its highest patient population, suffering from diabetes, cardiovascular diseases, coronary thrombosis, cancer, and others. In addition, China, India, South Korea, and other Asia-Pacific countries offer significant growth opportunities for key players due to improved healthcare infrastructure, rise in healthcare awareness, increased disposable income, surge in demand for better healthcare, and developing medical tourism industry.

The key players account for more than three-fourths of the global surgical sutures market share. Some of these include Johnson & Johnson Inc., B. Braun Melsungen AG, Smith & Nephew plc, Demetech Corporation, Conmed Corporation, W.L. Gore & Associates, Boston Scientific Corporation, 3M Healthcare, Medtronic Inc., and Sutures India Pvt Ltd.
Other players (not profiled in the report) in the surgical sutures industry are Paul Hartmann AG, Kinetic Concepts, Inc., Endoevolution LLC, Internacional Farmaceutica S.A. De C.V., Molnlycke Healthcare, ConvaTec Inc., Coloplast Corporation, Hollister Incorporated, BSN Medical, and Urgo Medical.

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SURGICAL SUTURES MARKET KEY BENEFITS:

• In-depth analysis of the surgical sutures industry is conducted based on market estimations of the key segments for the period of 20142022.
• Comprehensive analysis of factors that drive and restrict the growth of the global surgical sutures market is provided in the report.
• Exhaustive analysis by different segments aid to understand the different aspects of surgical sutures market that are currently used along with the variants that would gain prominence in the future.
• Competitive intelligence of leading manufacturers and distributors interpret the competitive scenario across various geographical regions.
• Key market players and their strategies are analyzed, to predict the competitive outlook of the global surgical sutures market.

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