Press release
Surgical Suture Market to Reach USD 7.11 Billion by 2030, Growing at 6.1% CAGR
Surgical Suture Market
The global surgical suture market, valued at USD 4.70 billion in 2023, is projected to grow at a compound annual growth rate (CAGR) of 6.1%, reaching approximately USD 7.11 billion by 2030. This growth is fueled by an increase in surgical procedures, advancements in suture materials, and a rising prevalence of chronic diseases.
► Competitive Landscape:
The Surgical Suture market research provides comprehensive information on significant aspects, including those that are expected to drive the industry's growth and upcoming challenges. The competitive environment of the industry, the products marketed by well-known companies, and the investment potential in the Surgical Suture market will all be thoroughly understood by stakeholders. The study covers both the qualitative and quantitative components of the sector. A comprehensive examination of the competition for the Surgical Suture Market is included in the scope of the MMR report.
The report offers a number of new requirements, each with a thorough justification. The Surgical Suture Market was created by consulting both primary and secondary sources of information, including government documents, websites, annual reports, and the opinions of other professionals and academics.
Ask for Sample to know US Tarrif impacts on Surgical Suture market:https://www.maximizemarketresearch.com/request-sample/16660/
► Surgical Suture Market Regional Insights
United States: Growth and Consolidation:
The United States leads the surgical suture market, attributed to a high volume of surgical procedures, advanced healthcare infrastructure, and significant investments in research and development. The presence of major companies like Johnson & Johnson, Medtronic Plc, and Boston Scientific Corporation further consolidates the market.
Asia-Pacific: Opportunities and Trends:
The Asia-Pacific region is experiencing the fastest growth in the surgical suture market, with a projected CAGR of 8.1%. This surge is driven by an increasing elderly population, rising healthcare investments, and a growing number of surgical procedures. Countries like China, India, and Japan are at the forefront, with India witnessing significant medical tourism and government initiatives to improve healthcare access.
Europe: Trends and Updation:
Europe holds a significant share of the surgical suture market, led by countries such as Germany, the UK, and France. The region benefits from a robust healthcare system and an aging population, leading to increased surgical interventions. Advancements in suture materials, including bioabsorbable and antimicrobial sutures, are contributing to market expansion.
Middle East and Africa: Emerging Opportunities:
The Middle East and Africa are emerging markets for surgical sutures, driven by increasing investments in healthcare infrastructure and a rising demand for surgical interventions. Countries like Saudi Arabia, the UAE, and South Africa are witnessing growth, supported by government initiatives and the expansion of medical tourism.
► Key Recent Developments
In March 2024, Mankind Pharma and ChrysCapital formed a consortium to bid for Healthium Medtech, indicating consolidation in the surgical supplies sector.
In May 2023, MIT engineers developed smart sutures capable of detecting inflammation and delivering drugs, showcasing significant technological advancements in the field.
Future Market Insights
In September 2023, Genesis MedTech received approval in China for its antibacterial absorbable sutures, enhancing infection control measures.
2024, Samyang Holdings Corp. inaugurated a USD 22 million surgical suture plant in Hungary, expanding its presence in the European market.
Ask for Sample to know US Tarrif impacts on Surgical Suture market:https://www.maximizemarketresearch.com/request-sample/16660/
► Surgical Suture Market Segmentation
by Type
Absorbable
Non-absorbable
Because of its ability to withstand normal stress and provide temporary support for wounds while they heal, the absorbable sector had the biggest revenue share in 2023-more than 56%. Additionally, the need for absorbable sutures is always rising, which may be connected to their natural degradability. Leading market participants are therefore investing in R&D, which should help the absorbable industry expand in the future. Non-absorbable sutures have a smaller market share than absorbable sutures since they cannot break down or degrade.
by Filament
Cardiovascular Surgery
General Surgery
Gynecological Surgery
Orthopedic Surgery
Ophthalmic Surgery
Cosmetic & Plastic Surgery
Other
With a revenue share of more than 50% in 2023, the multifilament category dominated the market. The multifilament sector is also anticipated to develop at the fastest rate during the projection period. This is because of the advantages of the multifilament strands, which include increased flexibility, pliability, and tensile strength. Monofilament sutures are challenging to work with because of their endurance, which can lead to unintended and early suture failure during surgery, as well as suture crushing or crimping. Monocryl, nylon, prolene, and polydioxanone are among the materials used to make monofilament sutures. These sutures have poor knot security, but they are less likely to produce infection.
by Application
Cardiovascular Surgery
General Surgery
Gynecological Surgery
Orthopedic Surgery
Ophthalmic Surgery
Cosmetic & Plastic Surgery
Other
In 2023, the other category held a revenue share of more than 41% and dominated the surgical suture market. The segment that generated the second-largest revenue share in 2023 was cardiovascular surgery. This is because cardiac problems are quite common, there is sufficient competence in the sector, reimbursement conditions are good, and diagnostics have advanced. Throughout the projection period, the demand for surgical sutures will rise as a result of the significant increase in cardiac surgeries. In 2023, orthopedic surgery became the third-largest application field, and it is anticipated to expand quickly over the next several years.
by End-User
Hospitals
Ambulatory Surgical Centers (ASCs)
Clinics & Physician Offices
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► Surgical Suture Market Key Players
1. Medtronic plc (US)
2. Johnson & Johnson (US)
3. Sutumed (US)
4. Vital Sutures (US)
5. Unilene (US)
6. Riverpoint Medical (US)
7. CONMED Corporation (US)
8. Boston Scientific Corporation (US)
9. DemeTECH Corporation (US)
10. Stryker Corporation (US)
11. Zimmer Biomet (US)
12. Advanced Medical Solutions Group plc (UK)
13. Smith & Nephew (UK)
14. B. Braun Melsungen (Germany)
15. Peters Surgical (France)
16. Genia SA (France)
17. Mellon Medical (Netherlands)
18. Biosintex (Romania)
19. Dolphin Sutures (India)
20. Healthium MedTech (India)
21. GPC Medical (India)
22. Lotus Surgicals (India)
23. CPT Sutures (Vietnam)
24. ARC Medical Supplies(Beijing) Co., Ltd. (China)
25. Tagumedica SA (Peru)
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