SAN FRANCISCO, Feb. 1, 2022 /PRNewswire/ — The global surgical sutures market size is expected to reach USD 6.5 billion by 2030, based on a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.8% from 2022 to 2030. The market growth can be attributed to a rise in surgical procedures due to an increasing number of cardiac diseases and orthopedic injuries, which occur due to the increasing geriatric population as well as the rising number of accidents. The lifestyle changes, growing healthcare expenditure, favorable reimbursement scenarios, and government support to improve the healthcare infrastructure are also significant factors contributing to the growth of the market.
Key Insights & Findings from the report:
- Based on type, the absorbable segment dominated the market in 2021 owing to the higher adoption due to its ability to degrade naturally
- By filament, the multifilament segment held the largest revenue share in 2021 owing to the advantages it offers such as pliability, flexibility, and high tensile strength
- In terms of application, the cardiovascular surgery segment held the second-largest revenue share in 2021 owing to the high incidence of cardiac diseases, supportive reimbursement scenario, the presence of sufficient experts in the field, and technological advancements in diagnostics
- In 2021, North America held the largest revenue share due to the increasing incidence of cardiac diseases, the presence of local as well as key players in the market, high cost of sutures compared to other regions, supportive reimbursement scenario, rising government programs, and developed healthcare infrastructure
Read 180 page market research report, “Surgical Sutures Market Size, Share & Trends Analysis Report By Type (Absorbable, Non-absorbable), By Filament (Monofilament, Multifilament), By Application (Cardiovascular Surgery, Orthopedic Surgery), By Region, And Segment Forecasts, 2022 – 2030“, published by Grand View Research.
Although the market may have witnessed a certain lag in terms of revenue during the pandemic, it is recovering at a decent pace and is expected to grow considerably during the forecast period. The lockdowns and changes in healthcare priorities have majorly affected the market in terms of demand. While the restrictions also affected the supply chain with limited manufacturing activities, travel restrictions disrupted the supply of raw materials as well as the final product.
However, with the key players focusing on technological aspects to overcome similar challenges in the future, the market is expected to flourish and gain back its pre-COVID growth rate. Moreover, considering that the COVID-19 affected population is at a higher risk of developing diseases, there might be a rise in cardiac diseases among individuals. This may further lead to the surged demand for surgical sutures.
The market was negatively affected during the pandemic due to the postponement of many surgical procedures in response to control the spread of the COVID-19 virus. However, the market has begun to recover and the market leaders and healthcare professionals involved in providing the surgery service are focusing on technological advancement in order to optimize the workflow and carry out a higher number of surgeries as compared to pre-pandemic days.
Market Segmentation:
Grand View Research has segmented the global surgical sutures market based on type, filament, application, and region:
- Surgical Sutures Type Outlook (Revenue, USD Million, 2017 – 2030)
- Absorbable
- Non-absorbable
- Surgical Sutures Filament Outlook (Revenue, USD Million, 2017 – 2030)
- Monofilament
- Multifilament
- Surgical Sutures Application Outlook (Revenue, USD Million, 2017 – 2030)
- Ophthalmic Surgery
- Cardiovascular Surgery
- Orthopedic Surgery
- Neurological Surgery
- Others
- Surgical Sutures Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Asia Pacific
- Japan
- China
- India
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
List of Key Players of Surgical Sutures Market
- Covidien
- Ethicon US, LLC. (Johnson & Johnson Services, Inc.)
- B. Braun Melsungen AG
- Smith & Nephew
- Integra Lifesciences
- Peter Surgical
- Internacional farmaceutica
- CONMED CORPORATION
- Sutures India Pvt. Ltd.
Check out more studies related to surgical equipment, published by Grand View Research:
- Stereotactic Surgery Devices Market – The global stereotactic surgery devices market size was valued at USD 16.2 billion in 2017. It is anticipated to progress at a CAGR of 4.9% over the forecast period. Increasing demand for minimally invasive surgical procedures is one of the key trends stimulating market growth.
- Surgical Equipment Market – The global surgical equipment market size was valued at USD 9.32 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 9.8% from 2021 to 2028. Large unmet surgical needs, growing healthcare costs, rising geriatric population, and increasing surgical volume are the key factor projected to drive the market growth.
- General Surgery Devices Market – The global general surgery devices market size was valued at USD 14.1 billion in 2018 and is expected to register a CAGR of 8.5% from 2019 to 2026. Increasing number of surgical procedures being performed coupled with technological advancements in the field is anticipated to drive the market.
Browse through Grand View Research’s coverage of the Global Medical Devices Industry.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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SOURCE Grand View Research, Inc.
