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Cardiac Sutures Market Size, Trends, Growth Report 2024-2033
Cardiac Sutures Market Size
According to The Business Research Company's, The cardiac sutures market size has grown strongly in recent years. It will grow from $1.39 billion in 2023 to $1.53 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to surgical procedure evolution, increasing cardiovascular disease, surge in minimally invasive surgeries, growing aging population, r&d investments.
The cardiac sutures market size is expected to see strong growth in the next few years. It will grow to $2.12 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to global healthcare infrastructure growth, focus on patient outcomes and recovery, surgeons' preference and specialization, regulatory compliance and stringent standards, rising demand for biodegradable sutures. Major trends in the forecast period include integration of nanotechnology, robotic-assisted surgery, sutures for structural heart procedures, biodegradable sutures, enhanced suture coatings.
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Market Drivers and Trends:
The rising prevalence of cardiovascular diseases is expected to propel the growth of the cardiac suture market going forward. Cardiovascular disease refers to conditions that affect the heart or blood vessels. Cardiac sutures are used to close wounds and provide the mechanical support necessary to sustain closure after cardiovascular surgeries. For instance, in October 2022, according to a report published by the Centers for Disease Control and Prevention, a US-based public health agency, about 20.1 million individuals aged 20 and older have cardiovascular diseases. Furthermore, cardiovascular disease (CVD) remains the most common cause of death in the US, accounting for 695,000 deaths in 2021. Therefore, the rising prevalence of cardiovascular diseases will drive the cardiac sutures market.
Product innovation is a key trend gaining popularity in the cardiac suture market. Major companies operating in the cardiac suture market are working on new product innovations to sustain their position in the market. For instance, in January 2023, Able Medical Devices., a US-based medical equipment manufacturer, launched its Valkyrie looped sternotomy sutures, especially for use after open heart surgeries. This innovative product uses stainless steel sutures to close a patient's chest after open heart surgery. Compared to traditional wire sutures, Valkyrie doubles the surface area of single wires and provides a more robust sternal closure. It is designed to reduce the risk of sternal dehiscence, a severe complication that can occur after sternotomy procedures. It also contains unique features such as a looped design, high tensile strength, minimal invasiveness, ease of use, and helps improve patient outcomes.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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Major Key Players of the Market:
Abbott Laboratories; Medtronic plc; Johnson & Johnson; B. Braun SE; Teleflex Incorporated; Smith & Nephew plc; Boston Scientific Corporation; CONMED Corporation; Deme TECH Corporation; Apollo Endosurgery Inc.; Cryolife Inc.; W. L. Gore & Associates Inc.; Peters Surgical; Stryker Corporation; Ethicon Inc.; Internacional Farmacéutica; Sutures India; Mellon Medical B.V.; EndoEvolution LLC; Surgical Specialties Corporation; Arthrex Inc.; Covidien Holding Inc.; Gunze Ltd.; Centennial Surgical Suture Ltd.; Assut Medical Sarl; Healthium Medtech Ltd.; Meril Life Sciences Pvt. Ltd.; Cardiovascular Systems Inc.; Gore Medical Inc.; LivaNova plc
Cardiac Sutures Market 2024 Key Insights:
• The cardiac sutures market will grow to $2.12 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%.
• Surge In Cardiovascular Diseases Drives Growth In Cardiac Suture Market
• Revolutionizing Cardiac Suture Market With Enhanced Sternotomy Closure Innovation
• North America was the largest region in the cardiac sutures market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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