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Surgical Suture Market Trend And Opportunity And Top Key Players Are B. Braun Melsungen AG, DemeTECH Corporation And Dolphin Sutures.
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Market Overview
The surgical sutures market is estimated to grow at a significant CAGR in the forecasted period. Key factors influencing the growth is the increasing number of surgical treatments needed in road accidents, aging population which means higher rate of chronic diseases which usually require operations and increasing number of cosmetic and aesthetic procedures over the years. According to the American Society of Plastic Surgeons (ASPS), the number of cosmetic surgeries from 2016-2017 grew by 1% in the United States. A similar growth trend was seen in Europe with 134% increase in Italy, 0.5% in France and 9% in Germany.
Additionally, the growing aging population and according to WHO estimations, 1.3 million people die each year from road accidents. All these factors are influencing the growth in the surgical sutures market. One drawback in this field is new emerging techniques for wound treatments. However, surgical suture is still the highest used technique.
COVID-19 Impact
The recent covid-19 pandemic in 2019 took the world by a storm. Most nations around the world were affected by the pandemic which not only took lives but also took away jobs. The pandemic caused a huge economic burden all around the world with most industries bearing some form of loss. The surgical sutures industry also saw a slowdown during the pandemic as hospitals were loaded with covid-19 patients, patients needing non-emergency treatments were ignored or were too scared to undergo the surgical procedures. A study in a Turkish hospital showed a decrease form 576 patients before the pandemic to just 245 patients after the pandemic for surgical and non-surgical treatments before and after the pandemic. The number of surgical procedures declined from 173 before to 94 after the pandemic, likewise non-surgical procedures declined from 403 to 151 before and after the pandemic, respectively.
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Surgical Suture market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Product, the market is primarily segmented into
• Absorbable Sutures
• Non-Absorbable Sutures
• Multifilament Sutures
• Automated Suturing Devices
The absorbable sutures segment generated revenue of US$ -- billion in 2020 and is expected to grow at a CAGR of --% during the forecast period to reach a market valuation of US$ -- billion by 2027F.
By Application, the market is primarily segmented into
• Cardiovascular Surgeries
• General Surgeries
• Gynecological Surgeries
• Orthopedic Surgeries
• Ophthalmic Surgeries
• Cosmetic & Plastic Surgeries
• Other Applications
Amongst application, the cardiovascular surgeries segment of the Surgical Suture market was valued at US$ -- billion in 2020 and is likely to reach US$ -- billion by 2027 growing at a CAGR of --% from 2021-2027.
By End-User, the market is primarily segmented into
• Hospitals
• Ambulatory Surgical Centers
• Clinics & Physician Offices
Amongst end-user, the hospitals segment of the Surgical Suture market was valued at US$ -- billion in 2020 and is likely to reach US$ -- billion by 2027 growing at a CAGR of --% from 2021-2027.
Surgical Suture Market Geographical Segmentation Includes:
• North America
• Europe
• Asia-Pacific
• Rest of the World
Based on the estimation, the North America region dominated the Surgical Suture market with almost --% revenue share in 2020. North America also saw the highest CAGR of --% in the forecast period due to the growing geriatric population and chronic diseases.
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The major players targeting the market includes
• B. Braun Melsungen AG
• DemeTECH Corporation
• Dolphin Sutures
• EndoEvolution, LLC.
• Ethicon US, LLC.
• INTERNACIONAL FARMACEUTICA, S.A.
• Medtronic
• Peters Surgical
• Sutures India
• W. L. Gore & Associates, Inc.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Surgical Suture market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the Surgical Suture market?
• Which factors are influencing the Surgical Suture market over the forecast period?
• What are the global challenges, threats, and risks in the Surgical Suture market?
• Which factors are propelling and restraining the Surgical Suture market?
• What are the demanding global regions of the Surgical Suture market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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