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
Buy Now Report ID: 2199 | Published Date: Feb 15, 2023
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.
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~6% |
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Base Year Market Size (2022) |
~ USD 5000 Million |
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Forecast Year Market Size (2033) |
~ USD 8000 Million |
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Regional Scope |
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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
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.
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.
Our in-depth analysis of the global surgical sutures market includes the following segments:
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By Form |
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By Product Type |
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By Application |
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By End-User |
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Johnson & Johnson Services, Inc.
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.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
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
Ans: The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2023 – 2033.
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.
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.
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…..
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.
Ans: The market is segmented by form, product type, application, end user, and by region.
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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