Surgical Suture Market Valuation of USD 5.6 Billion by 2031 | Stryker Corporation (U.S.), B. Braun Melsungen (Germany), Smith & Nephew

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.

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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.

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. The aging population is at a higher risk of chronic diseases and conditions and requires frequent surgeries. Adults aged 65 and above account for a large fraction of surgeries performed in the US. The rapid growth in the aging population and the growing incidence of various chronic diseases are expected to significantly drive the number of surgeries performed globally.

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Furthermore, by 2030, non-communicable diseases (NCDs) are projected to account for more than one-half of the disease burden in low-income countries and more than three-fourths in middle-income countries. In the geriatric population, NCDs account for more than 87% of the burden in low, middle, and high-income countries. The high prevalence of chronic diseases, especially among the geriatric population, will considerably boost the number of surgical treatment procedures conducted and thus drive the demand and use of surgical sutures.

Global Surgical Sutures Market Segmentation

Type

Absorbable
Non-absorbable

Filament

Monofilament
Multifilament

Application

Ophthalmic Surgery
Cardiovascular Surgery
Orthopedic Surgery
Neurological Surgery
Others
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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COVID-19 Impact

The COVID-19 outbreak, the medical devices market accounts for 60-75 percent of the market overall and includes products like imaging devices, dental care devices, and surgical products, to stagnate or experience a sharp decline in growth rate in 2020 and the first and second quarters of 2021. By 2021, the market for medical devices, which includes critical care medical equipment, will expand by USD 5-7 billion. Contrarily, compared to other medical equipment including those utilised in ICUs, CCUs, and emergency departments of hospitals, surgical consumables such as surgical sutures that are viewed as a part of that industry do not exhibit a significant revenue shift in 2020 and 2021. This is due to suture products are not in high demand during surgical procedures. Owing to the pandemic situation, surgical procedures have decreased and are only predicted to increase in the first quarter of 2021. This is anticipated to have a limited impact on the growth of the surgical suture market. The leading players in the surgical suture market have been compelled by the shift in demand toward medical devices to plan their manufacturing capacities, concentrate on new product development, and offer the best supply chain strategies targeted at COVID-19 necessities.

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This release was published on openPR.