Surgical Suture Market Research Reports, Analysis, Market Trends and Forecast

Overview

Surgical Suture Market Introduction

The Surgical Suture Market is projected to value over USD 5.6 billion by 2027 end and register CAGR of over 5.5% during the forecast period 2020-2027.
The rise in the number of surgical procedures and favourable reimbursement policies are the key factors propelling the surgical suture market. The increasing awareness of patient safety during surgeries coupled with the launch of advanced sutures is expected to bolster the market during the forecast period. Ageing baby boomers are expected to positively influence the market.

Surgical Suture Market Overview
The market is bifurcated into type, filament, application, end-user, and region. In terms of type, the absorbable suture is expected to lead the market growth. Absorbable suture offers temporary support to the wound and provides faster healing. It can undergo normal stress and is not required to be removed post-surgery as it gets absorbed in the body after a certain amount of time. Owing to these factors, there has been a spike in demand for absorbable suture, thus complementing the growth of the market.

In terms of filament, the multifilament suture is expected to dominate the growth of the market. Multivalent sutures are preferred over staples and adhesives as its more precise and gives less pain than staples and adhesive. Multivalent sutures offer more accuracy in closing complicated wounds and it offers more strength, flexibility and pliability than monovalent filament. Owing to these features, this segment is expected to inflate the market.

On the basis of application, cardiovascular surgery is expected to show significant growth owing to technological advancements in surgical tools and diagnostics. The increasing inclination towards minimally invasive medical procedures and the rising number of cardiovascular surgeries is accelerating the growth of the market.

Based on end-user, hospitals are expected to hold a major share of the market owing to the rise in complex surgeries, favourable reimbursement offers and rising geriatric population. The presence of developed healthcare infrastructure in developed nations is also escalating the market.

In terms of regions, North America is the global leader of the market. The easy accessibility, high adoption of advanced diagnostic equipment and rising healthcare expenditure in countries like Canada and the US are stimulating the market in the region. Asia-Pacific region is expected to showcase exponential growth during the forecast period. Rapidly improving healthcare infrastructure alongside rising per capita income in emerging economies like China, Japan and India are bolstering the market in the region. In addition, favorable policies launched by the governments of these countries are expected to boost the market growth in the region.

Major players of the market are Smith & Nephew, Internacional Farmaceutica, Integra LifeSciences, Suture India Pvt.Ltd, Peters Surgical and Medtronic.

Competitive Landscape:
● Prominent players are bolstering their foothold in the market through collaborations and acquisitions
● Integra LifeSciences acquired Derma Science in 2017. The move helped Integra LifeSciences to expand its products

Surgical Suture Market Segmentation:
By Type
● Absorbable
● Nonabsorbable
By Filament
● Monovalent
● Multivalent
By Application
● Cardiovascular Surgery
● Ophthalmic Surgery
● Neurological Surgery
● Orthopedic Surgery
● Others
By End-User
● Hospitals
● Ambulatory Surgical Centers and Clinics

By Region
● North America
● Europe
● Asia Pacific
● Latin America
● Rest of the World

FutureWise Key Takeaways
● Growth Prospects
● SWOT Analysis
● Key Trends
● Key data-points affecting market growth

Objectives of the Study:
• To provide with an exhaustive analysis on the surgical suture market by type, by filament, by application, by end-user, and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• Evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America and the rest of the world
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financial and core competencies