Dublin, April 04, 2022 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
The global surgical sutures market size is expected to reach USD 6.5 billion by 2030. 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.
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.
Surgical Sutures Market Report Highlights
- 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
Key Topics Covered:
Chapter 1 Research Methodology
Chapter 2 Executive Summary
Chapter 3 Industry Outlook: Market Variables, Trends, & Scope
3.1 Penetration &Growth Prospect Mapping For Contract Manufacturing Service, 2018
3.2 Trend Analysis
3.2.1 Type trend
3.2.2 Filament trend
3.2.3 Application trend
3.2.4 Regional trend
3.3 Surgical Sutures Market: Market Dynamics
3.3.1 Market driver analysis
3.3.1.1 Rise in surgical procedures
3.3.1.2 Technological advancement
3.3.1.3 Improving healthcare infrastructure in emerging economies
3.3.2 Market restraint analysis
3.3.2.1 Strong competition from other wound closure technologies
3.4 Key Opportunity Analysis
3.4.1 Growing partnerships by the key players
3.5 Industry Analysis - Porter's
3.5.1 Supplier Power: Moderate number of suppliers for surgical sutures contributes to the low supplier power
3.5.2 Buyer Power: Moderately consolidated nature of surgical suture market has led to moderate bargaining power of buyers
3.5.3 Substitution Threat: Moderate due to presence of several big medical device companies
3.5.4 New Entrants Threat: Presence of established players coupled with need of adequate capacity results in moderate threat of new entrants
3.5.5 Competitive Rivalry: Moderate due to slghtly consolidated nature of market
3.6 Surgical Sutures-SWOT Analysis, By PEST
3.6.1 Political landscape
3.6.2 Economic landscape
3.6.3 Social landscape
3.6.4 Technology landscape
3.7 Surgical Sutures Market: Company Share Analysis
3.8 Competitive Landscape
3.8.1 Strategy Framework
3.8.2 Company Categorization
3.8.3 New Entrants
3.8.4 Mature Players & Leaders
3.9 Trends In Medical Device Industry
3.10 R&D Landscape Of Medical Devices
Chapter 4 Surgical Sutures Market: Type Estimates & Trend Analysis
4.1 Global Surgical Sutures Market: Type Movement Analysis
4.2 Absorbable
4.2.1 Global absorbable type market, 2017 - 2030 (USD Million)
4.3 Non-absorbable
4.3.1 Global nonabsorbable market, 2017 - 2030 (USD Million)
Chapter 5 Surgical Sutures Market: Filament Estimates & Trend Analysis
5.1 Global Surgical Sutures Market: Filament Movement Analysis
5.2 Surgical suture, by Filament
5.2.1 Global surgical suture market, 2017 - 2030 (USD Million)
5.2.2 Monofilament
5.2.2.1 Global monofilament market, 2017 - 2030 (USD Million)
5.2.3 Multifilament
5.2.3.1 Global multifilament market, 2017 - 2030 (USD Million)
Chapter 6 Surgical Sutures Market: Application Estimates & Trend Analysis
6.1 Global Surgical Sutures Market: Application Movement Analysis
6.2 Ophthalmic Surgery
6.2.1 Global ophthalmic surgery market, 2017 - 2030 (USD Million)
6.3 Cardiovascular Surgery
6.3.1 Global cardiovascular surgery market, 2017 - 2030 (USD Million)
6.4 Orthopedic Surgery
6.4.1 Global orthopedic surgery market, 2017 - 2030 (USD Million)
6.4 Neurological Surgery
6.4.1 Global neurological surgery market, 2017 - 2030 (USD Million)
6.5 Others
6.5.1 Global others market, 2017 - 2030 (USD Million)
Chapter 7 Surgical Sutures Market: Regional Estimates & Trend Analysis, by Service, Source, & Product
Chapter 8 Competitive Landscape
8.1 Company Profiles
8.1.1 Covidien
8.1.1.1 Company overview
8.1.1.2 Financial performance
8.1.1.3 Product benchmarking
8.1.1.4 Strategic initiatives
8.1.2 ETHICON US, LLC (Johnson & Johnson Services, Inc.)
8.1.2.1 Company overview
8.1.2.2 Financial performance
8.1.2.3 Product benchmarking
8.1.2.4 Strategic initiatives
8.1.3 B. BRAUN MESUNGEN AG
8.1.3.1 Company overview
8.1.3.2 Financial performance
8.1.3.3 Product benchmarking
8.1.3.4 Strategic initiatives
8.1.4 SMITH & NEPHEW
8.1.4.1 Company overview
8.1.4.2 Financial performance
8.1.4.3 Product benchmarking
8.1.4.4 Strategic initiatives
8.1.5 INTEGRA LIFESCIENCES
8.1.5.1 Company overview
8.1.5.2 Financial performance
8.1.5.3 Product benchmarking
8.1.5.4 Strategic initiatives
8.1.6 INTERNACIONAL FARMACEUTICA
8.1.6.1 Company overview
8.1.6.3 Product benchmarking
8.1.6.4 Strategic initiatives
8.1.7 SUTURES INDIA PVT. LTD.
8.1.7.1 Company overview
8.1.7.3 Product benchmarking
8.1.7.4 Strategic initiatives
8.1.8 CONMED CORPORATION
8.1.8.1 Company overview
8.1.8.2 Financial performance
8.1.8.3 Product benchmarking
8.1.8.4 Strategic initiatives
For more information about this report visit https://www.researchandmarkets.com/r/m5myau
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