Surgical Sutures Market

Market Synopsis:

Surgical Sutures Market is valued at USD 3716.76 Million in 2022 and is projected to reach a value of USD 5704.06 Million by 2030 at a CAGR of 5.50% over the forecast period.

A surgical suture is one of the most frequently used medical devices by doctors while performing a surgery that supports the tissues of a body after an injury or surgery by maintaining structural integrity, or binding them together as required. The rapid increase in the elderly population, technological advancements, and the growing number of surgical procedures across the world are some of the major factors driving the growth of the Surgical Sutures market in the forecast period. In addition, the growing attractiveness of cosmetic surgeries, proliferating number of accidents, rising healthcare expenses, and the development of technologically superior sutures such as Antibacterial Triclosan-Coated Polyglactin 910 suture for use over conventional sutures propel the market. The rising accident and the increasing numbers of various serious diseases are creating significant demand for Surgical Sutures across the healthcare sector. A growing number of health insurance coverage, which mostly covers healthcare attention in the form of surgical procedures, also presents an opportunity for a large number of people undergoing surgical procedures in the forecast period. Moreover, investments of governments in the emerging economies to make insurance reach a large number of people in their countries so that they have access to basic healthcare services will drive the market in coming years.

Market Segmentation:

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The Multifilament Sutures Segment Accounted for the Largest Market Share in the Type Segment of the Market

The segment of the multifilament suture accounted for the largest share of the surgical suture market. The large share of this segment is due to the rising number of complex surgeries, the growing elderly population, and favorable reimbursement policies for hospital treatments. In addition, the benefits connected with the multifilament sector, such as superior pliability, high tensile strength, and flexibility, will fuel this segment's growth in the approaching years.

Monofilament sutures are difficult to work with and can result in suture crushing or crimping, as well as premature suture failure during surgery. Monofilament sutures are composed of monocryl, nylon, prolene, and polydioxanone, among other materials. These sutures also have a lower risk of infection and have poor knot security. Hence multifilament sutures are preferred over monofilament sutures.

Based on Application, the Cardiovascular Surgery Segment holds the Largest Market Share

The cardiovascular surgery segment accounted for the largest share of the Surgical Sutures market in 2021. The large share of this segment can be because of factors like a large number of cardiovascular surgeries performed across the world as a result of the high incidence of cardiovascular disease (CVD), the presence of sufficient experts in the field, supportive reimbursement scenarios, and advancement in diagnostics. This is resulting in a large increase in the number of cardiac procedures, which is driving up demand for Surgical Sutures throughout the forecast period.

Orthopedic surgery is also showing a rapid growth in 2021 and is expected to witness significant growth over the forecast period. This is due to an increase in the frequency of traffic accidents, which is leading to an increase in orthopedic injuries.

The Asia Pacific to Acquire the Fastest Growing Share for the Surgical Sutures Market

The Asia-Pacific area is thought to be the fastest-growing of all the regions. The growth of the Asia Pacific (APAC) Surgical Sutures Market is primarily driven by the improved healthcare infrastructure, growing healthcare knowledge, rising disposable income, accelerating demand for healthcare needs, and growth in medical tourism. In addition, factors such as growth in the prevalence of chronic diseases and the rising number of technological advancements such as absorbable sutures further drive the market growth. In addition, with the help of government initiatives and launching various public healthcare programs, a rise in the elderly population, growing healthcare expenditure, increase in the number of complex surgeries, and increasing medical tourism, the APAC surgical market is expected to see significant growth during the forecast period.

The North American region dominated the market for Surgical Sutures due to the presence of local and key players, high cost of sutures as compared to neighboring locations, favorable reimbursement conditions, expanding government initiatives, and a well-developed healthcare infrastructure. Technological developments and a high level of domestic wealth are other important reasons in North America's huge revenue share.

The European Surgical Sutures Market is estimated to grow at a considerable rate. The increase in the patient pool is a major factor for the market to grow in Europe in the coming years. In addition, the factors like the concentration of market key players on manufacturing the surgical suture medical devices and the rise in the number of road accidents, which leads to the increasing usage of the suture devices, are fueling the demand of the market in the forecast period.

Competitive Landscape:

Some of the major key players in the Surgical Sutures Market are Medtronic Plc (Ireland), Johnson & Johnson (US), Advanced Medical Solutions Group plc (UK), Internacional Farmacéutica S.A. de C.V.(Mexico), and B. Braun Melsungen (Germany), Smith & Nephew (UK), Boston Scientific Corporation (US), Peters Surgical (France), DemeTECH Corporation (US) and Surgical Specialties Corporation (US), Dolphin Sutures (India), Derma Sciences (US), Stryker Corporation (US), Healthium MedTech (India), CONMED Corporation (US), Sutcon Sutures(Indonesia), Zimmer Biomet (US), GPC Medical (India), Sutumed, CPT Sutures(India), Lotus Surgicals (India), Vital Sutures(US), Unilene (India), Mellon Medical B.V.(Netherlands), and Riverpoint Medical(US).

Surgical Sutures Market is Segmented as Follows:

Surgical Sutures Market is Tabulated as Follows: