Healthcare & Pharmaceutical

Surgical Sutures Market Analysis by Form (Natural, and Synthetic); by Product Type (Absorbable, and Non-Absorbable); by Application (Cardiology, Orthopedics, General Surgery, and Others) and by End User (Hospitals, Specialty Clinics, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  • Apollo Endosurgery, Inc. announces the successesful results of X-Tack Endoscopic HeliX Tacking System. The system enables to give highest quality and safest gastrointestinal surgery and it also curbs the cost associated with this.

  • Origami Surgical Inc. announced the Food and Drug Administration (FDA) approval for StitchKit Park Technology. It is a unique technology designed to assist and enhance robotic-assisted surgery by enabling surgeons to have a clear view of suture use and disposal needle.


Global Surgical Sutures Market Definition

One of the most frequent medical devices used by surgeons during surgeries is a surgical suture. Suture aids in binding bodily tissues together following surgery or injury. A suture is essentially applied with the use of a needle and a connected thread. Doctors nowadays have access to a broad range of surgical sutures in a variety of sizes, shapes, and thread materials. Most people misunderstand the terms suture and stitches. A suture, in contrast hand, is only the name of the medical device used by the doctor to repair the wound, whereas stitching is simply the technique employed by the doctor to close the wound.


Global Surgical Sutures Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

~6%

Base Year Market Size (2022)

~ USD 5000 Million

Forecast Year Market Size (2033)

~ USD 8000 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)


Global Surgical Sutures Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global surgical sutures market is estimated to garner a revenue of around USD 8000 Million by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of about USD 5000 Million in the year 2022. Market growth is primarily driven by growing incidences of brain-related injury and disorders. For instance, each year, approximately 69 million people worldwide suffer traumatic brain injuries. Furthermore, growing incidences of accidents along with the increasing count of various kind of cosmetic surgeries are some more factors that are driving the growth of the market over the forecast period.

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Currently, orthopedic disorders are becoming prevalent, therefore, the rising orthopedic problems among the population is expected to boost the growth of the surgical sutures market growth. There are 33 million skeletal injuries in the US each year, of which 50% are tendon and ligament injuries, according to the National Library of Medicine. Moreover, in 2019, 178 million new fractures were reported worldwide. Furthermore, the market growth is also expected by growing number of neuropathic ulcers, and diabetic ulcers which needs surgical care.


surgical sutures market overview image
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Global Surgical Sutures Market: Growth Drivers and Challenges

Growth Drivers

  • Higher Cases of Broken Bones and Muscle Tear - Bone and muscles injury are very common, old people, sports players and industry worker are easy target to catch it. Therefore, rise in bone, muscle and ligament ailments is to fuel the market growth. According to the Centers for Disease Control and Prevention, around 70 million US person ages 18 and older are anticipated to develop arthritis by 2040.

  • Increasing Need of Surgical Treatment - Over 2 million surgical procedures were carried out in 2018, according to the WHO. Additionally, during the next five years, it is expected the surgical burden cases to increase by 30% approximately.

  • Swelling Accidental Injury Cases across the World - The global economy loses around USD 8 trillion each year due to the nearly 3,700 fatalities and non-fatal injuries caused by automobile accidents.

  • Growth in Healthcare Expenditure - The World Bank has forecast that global healthcare spending likely to account for about 9.83% of global GDP in 2019. Additionally, in around 17 OECD nations, healthcare spending increased by 6% on average in 2021.

  • Surge in Instances of Neurological Disorder - Around 750,000 Americans is to have an initial brain tumor diagnosis in 2022. Additionally, more than 64,000 deaths in the US in 2020 were attributable to brain injuries.

Challenges

  • Rising Adoption of Minimal Invasive Surgery - Minimal invasive surgery is associated with less pain, less intrusive, quicker process and faster recovery. Therefore, higher share of global population is opting minimal intrusive surgery which is expected to impede the market growth.

  • Higher Cost of Anti-Bacterial Devices

  • Lack of Proper Reimbursement Policy in Various Nation

The surgical sutures market is segmented and analyzed for demand and supply by application into cardiology, orthopedics, general surgery, and others. The cardiology segment is expected to hold the largest market size. The segment growth is expected on the account of higher cases of cardiovascular issues in both young and old adults. Nearly 80% of persons 65 and older have at least one chronic illness, and 68 percent have two or more, according to the National Council on Aging. Moreover, every sixth adult, and one in ten have more than one chronic condition, according to the Centers for Disease Control and Prevention.


Global Surgical Sutures Market Regional Synopsis

The North America surgical sutures market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The market growth in the North America attributes to progressive healthcare expenditure followed by increased cases of road accidents. For instance, spending on health care in the United States increased by 9.7% in 2020 to USD 4.1 trillion, or USD 12,530 per person. The amount spent on health represented 19.7% of the country's GDP. In 2019, nearly 13 million people in the United States were involved in vehicle crashes. Moreover, proliferating technological advancements, along with the radically increasing geriatric population are some further major factors that are fueling up the growth of the surgical sutures market in the region over the forecast period.


Market Segmentation

Our in-depth analysis of the global surgical sutures market includes the following segments:

        By Form

  • Natural
  • Synthetic

       By Product Type

  • Absorbable
  • Non-Absorbable

        By Application

  • Cardiology
  • Orthopedics
  • General Surgery
  • Others

       By End-User

  • Hospitals
  • Specialty Clinics
  • Others

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Top Featured Companies Dominating the Global Surgical Sutures Market

    • Johnson & Johnson Services, Inc.

      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • B.Braun SE
    • Kono Seisaskusho Co., Ltd.
    • Smith & Nephew
    • TEPHA Inc.
    • Medtronic
    • DemeTECH Corporation
    • Origami Surgical Inc.
    • Boston Scientific Corporation
    • Apollo Endosurgery, Inc.

     


Key Questions Answered in the Report

1) What are the major factors driving the growth of the surgical sutures market?

Ans: Growing cases of orthopedic injury, accidents and neurological disorder, rise in medical spending and higher surgical treatments are the few factors likely to propel the market growth

2) What would be the CAGR of surgical sutures market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the surgical sutures market growth?

Ans: Increased popularity of minimal intrusive surgery, insufficient insurance policy and higher cost of antibacterial devices are the few factors is to hamper the market growth.

4) Which region will provide more business opportunities for growth of surgical sutures market in future?

Ans: The market in North America is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the surgical sutures market?

Ans: The major players in the market are B.Braun SE, Kono Seisaskusho Co., Ltd., Smith & Nephew, TEPHA Inc., Medtronic, DemeTECH Corporation, Origami Surgical Inc., Boston Scientific Corporation, Apollo Endosurgery, Inc., and so on…..

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the surgical sutures market?

Ans: The market is segmented by form, product type, application, end user, and by region.

8) Which segment captures the largest market size in application in the surgical sutures market?

Ans: The cardiology segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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