Press release
Global Surgical Sutures Market 2018 Top Vendors are Ethicon, Inc., Medtronic, Smith & Nephew, B. Braun Group, DemeTech Corporation, Conmed Corporation, W. L. Gore & Associates, Zimmer Biomet, Miltex, Inc, Teleflex Incorporated, Boston Scientific, Medline
Global Surgical Sutures Market – Industry Trends and Forecast to 2024
Global Surgical Sutures Market By Product Type (Sutures Thread (Absorbable Sutures (Synthetic Material (Vicryl, Monocryl, Polydiaoxanone, Polyglycolic) Natural Material), Non-Absorbable Sutures (Silk, Stainless Steel, Prolene, Nylon), Automated Suturing Devices (Disposable Device, Reusable Device)), By Surgery Type (General Surgery, Cardiovascular, Gynaecology, Orthopaedic, Ophthalmology), By End User (Hospitals, Ambulatory Centres, Clinics, Community Healthcare), By Geography (North America, Europe, Asia-Pacific, South America, Middle East And Africa) – Industry Trends and Forecast to 2024
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Global Surgical Sutures Market is expected to reach USD 4,957.29 million by 2024 from USD 3,540.00 million in 2016, at a CAGR of 4.4% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
The major factors driving the growth of this market are rising need to manage blood loss in patients, growing number of surgical procedure, technological advancements in surgical suture products, rise in aging population & increase in chronic diseases and easy adoption due to the FDA and CE marking approval of the market. On the other hand, lack of proper sterilization system in healthcare organizations and unfavourable taxation policies may hinder the growth of the market.
Market Segmentation:
• The global surgical sutures market is segmented on the basis of product type, surgery type and application. The report provides data for 2015 to 2024, 2016 being the current year while 2017 to 2024 is the forecast period for the report.
• The global surgical sutures market is segmented based on product type into sutures thread and automated suturing devices The surgical sutures market is dominated by sutures thread with 88.7% market share in 2017, growing with a CAGR of 4.2% in the forecast period. Suture threads are sub segmented into absorbable sutures and non-absorbable sutures. Absorbable sutures are further sub segmented into synthetic material and natural material. Synthetic material is further sub segmented into vicryl, monocryl, polydiaoxanone and polyglycolic. Non-absorbable sutures are further sub segmented into stainless steel, prolene and nylon.
• Automated suturing devices are sub segmented into disposable device and reusable device.
• The global surgical sutures market is segmented based on surgery type into general surgery, cardiovascular, gynaecology, orthopaedic, ophthalmology, and others. Cardiovascular is expected to dominate the market with 27.3% market share.
• The global surgical sutures market is segmented based on end user into five notable segments; hospitals, ambulatory centres, clinics, community healthcare, and others. Hospitals are expected to dominate the market with 45.6% market share.
• Based on geography, the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and Middle East and Africa.
Key Drivers:
The major factors driving the growth of this market are rising need to manage blood loss in patients, growing number of surgical procedure, technological advancements in surgical suture products, rise in aging population & increase in chronic diseases and easy adoption due to the FDA and CE marking approval of the market. On the other hand, lack of proper sterilization system in healthcare organizations and unfavourable taxation policies may hinder the growth of the market.
Key Points:
The Ethicon U.S., LLC.is going to dominate the global surgical sutures followed by Medtronic, Smith & Nephew and other players operating in this market are include B. Braun Melsungen AG, Demetech Corporation, Conmed Corporation, W.L. Gore & Associates, Zimmer Biomet, Miltex (A Integra LifeSciences Corporation Company), Teleflex Incorporated, Boston Scientific Corporation, MEDLINE INDUSTRIES, INC.among others.
The global surgical sutures market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The Ethicon U.S. LLC dominated the surgical sutures market accounting for a highest market share in 2016, followed by Medtronic and Smith & Nephew. Other players in this market include B. Braun Melsungen AG, Demetech Corporation, Conmed Corporation, W.L. Gore & Associates, Zimmer Biomet, Miltex (A Integra LifeSciences Corporation Company), Teleflex Incorporated, Boston Scientific Corporation, MEDLINE INDUSTRIES, INC. among others.
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Ethicon U.S. LLC. (JOHNSON & JOHNSON SERVICES, INC):
Founded in 1886 and headquartered at New Brunswick, New Jersey, U.S., Ethicon US, LLC., subsidiary of Johnson& Johnson Services, Inc. is engaged in the development and marketing of healthcare products. The company operates through three business segments, namely, Consumer, Pharmaceutical, and Medical Devices. The pharmaceutical segment offers a wide range of products for five major therapeutic applications—immunology, infectious diseases, neuroscience, oncology, and cardiovascular & metabolic diseases. The consumer segment of the company offers various products pertaining to baby care, oral care, skin care, women’s health, and wound care. The medical devices segment of the company offers various devices to be used in therapeutic areas such as orthopedic, surgical care, specialty surgery, cardiovascular care, diagnostics, diabetes care, and vision care.
Recent Developments:
• In August 2017, Ethicon US, LLC., launched the ProxiSureTM Suturing Device, an advanced laparoscopic suturing device. The device is featured with wrist-like maneuverability and curved needle in an advanced suturing device that improves suturing precision in tight spaces.
Key Insights in the report:
• Historical and current market size and projection up to 2025
• Market trends impacting the growth of the global taste modulators market
• Analyze and forecast the taste modulators market on the basis of, application and type.
• Trends of key regional and country-level markets for processes, derivative, and application
• Company profiling of key players which includes business operations, product and services, geographic presence, recent developments and key financial analysis
Customization Options
• All segmentation provided above in this report is represented at country level and can be customized according to needs.
• All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization).
Medtronic:
Founded in 1949 and headquartered in Minneapolis, U.S. Medtronic is a global healthcare solutions company and it is the world’s largest standalone medical technology development company. The company operates in cardiac and vascular group, minimally invasive therapies group, restorative therapies group, and diabetes group. It offers absorbable and non-absorbable sutures through its subsidiaries brand name Covidien products.
Smith & Nephew:
Founded in 1856 and headquartered London, UK. Smith & Nephew is the manufacturer of numerous medical devices, personal care products and advanced and latest along with the traditional wound care treatments. The company operates its business across the globe using these nine product categories such as knee implants, sports medicine joint repair, hip implants, arthroscopic enabling technologies, trauma & extremities, other surgical businesses, advanced wound care, advanced wound bioactives, and advanced wound devices. The product offered by the company comes under the trauma and extremities product category. The soft tissue category offers arthroscopy, carpel tunnel release, ligament repair, and TFCC repair.
Recent Development:
• In February 2015, Smith & Nephew launched its SUTUREFIX Ultra soft suture anchor which is used in hip and shoulder labral repair allowing surgeons to repairs by adding additional anchors and fixation points.
• In March 2015, Smith & Nephew launched its Q-FIX All-Suture Anchor, which is used in procedures such as rotator cuff repair and labrum repair in which anatomic space is very limited, where its small size allows surgeons to access tight spaces in the hip and the radially expanding anchor provides exceptionally reliable performance.
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