Surgical Sutures Market to grow up to USD 5.6 billion by 2031, at a CAGR of 2.6% during the forecast period

New York, The Global Surgical Sutures Market was valued at USD 4.3 billion in 2021 and it is anticipated to grow up to USD 5.6 billion by 2031, at a CAGR of 2.6% during the forecast period.

Global Surgical Sutures Market report from Global Insight Services is the single authoritative source of intelligence on Surgical Sutures Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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Surgical suture is one of the most common medical devices used by doctors during surgeries. The suture helps in holding body tissues together after a surgery or an injury. The application of a suture essentially involves the use of a needle along with an attached thread. Surgical sutures are used to close wounds such as skin ulcers, neuropathic ulcers, pediatric cardiac surgery, and diabetic ulcers. These sutures cause less reaction and provide better passage of the thread through the tissue.

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Market Trends and Drivers
Increasing number of surgical procedures will augment the market growth. According to the WHO 2016 Report, the estimated mean global surgical rate was 4,469 operations per 100,000 people per year, with road accidents and associated trauma being the major cause of surgical treatment. According to the EC Factsheet 2017, globally, there are around 174 fatalities per million population every year. Furthermore, WHO data estimates that around 1.3 million people die each year on the roads. For every road accident-related death, there are 20 other persons who sustain non-fatal injuries that often require surgical intervention.

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Global Surgical Sutures Market Segmental Overview
The report analyses the global sutures market based on type, filament, application, and region.

Global Surgical Sutures Market by Type

Based on type, it is segmented into the absorbable and non-absorbable. The absorbable segment held the largest revenue share in 2021 owing to its ability to provide temporary support to wounds till it heals and can withstand normal stress. Moreover, the demand for absorbable sutures is continuously rising, which can be attributed to their ability to degrade naturally. Due to this, key players in the market are investing in R&D activities, which is further expected to help the absorbable segment grow in the future.

Global Surgical Sutures Market by Filament

Based on filament, it is segmented into monofilament and multifilament. The multifilament segment dominated the market for surgical sutures with a significant revenue size in 2021. The multifilament segment is also expected to witness the fastest growth during the forecast period. This can be attributed to advantages associated with the multifilament segment such as better pliability, high tensile strength, and flexibility.

Global Surgical Sutures Market by Application

Based on application, it is segmented into ophthalmic surgery, cardiovascular surgery, orthopedic surgery, neurological surgery and others. The cardiovascular surgery segment is likely to dominate the market during the forecast period. This is owing to the high incidence of cardiac diseases, the presence of sufficient experts in the field, supportive reimbursement scenarios, and advancement in diagnostics. This is leading to a significant rise in the number of cardiac surgeries, which in turn, is leading to an increase in the demand for surgical sutures over the forecast period.

Geographical Analysis of Global Surgical Sutures Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North American region is accounted for the majority of market share during the forecast period. This is due to the owing to the presence of local and key players, high cost of sutures as compared to other regions, supportive reimbursement scenario, rising government programs, and developed healthcare infrastructure. Technological advancements and high domestic income are also the key factors that are contributing to the large revenue share of North America.

Major Players in the Global Surgical Sutures Market
The key players in the market are Medtronic Plc (Ireland), Johnson & Johnson (US), Advanced Medical Solutions Group plc (UK), Stryker Corporation (U.S.), B. Braun Melsungen (Germany), Smith & Nephew (UK), Boston Scientific Corporation (US), Peters Surgical (France), DemeTECH Corporation (US) and Surgical Specialties Corporation (US), among others.

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