Surgical Sutures Market to Accumulate Revenue of by US$ 5,955.8 Million by 2032

Posted by Aparna on August 28th, 2023

The global surgical sutures market is anticipated to reach US $ 5,955.8 Mn by the end of 2032 and is likely to grow at a CAGR of 3.1% over the same period, according to Fact.MR, a supplier of market research and competitive information.

Less than 2% of hospital and outpatient surgical centres’ total spending is on surgical sutures. Over the course of the evaluation period, synthetic surgical sutures are expected to command a market share of more than 45% across all product categories.

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Key Companies Profiled in This Report

  • Peters Surgical
  • Smith & Nephew Plc.
  • Johnson & Johnson
  • B. Braun
  • Boston Scientific Corporation
  • Medtronic Plc.
  • Arthrex Inc.
  • Sutures India Pvt. Ltd
  • Centenial Surgical Suture Ltd
  • Assut Medical S.r.L

Major Impression

  • The rising number of surgical procedures, including general surgeries, orthopedic surgeries, cardiovascular surgeries, and cosmetic surgeries, is driving the demand for surgical sutures.
  • The aging population in North America is contributing to the growth of the surgical sutures market. Elderly individuals often require surgical interventions, such as joint replacements, which necessitate the use of sutures for wound closure.
  • The development of advanced sutures with improved characteristics, such as absorbability, reduced tissue reactivity, and enhanced wound healing properties, is driving the market growth. Technological advancements, including the introduction of synthetic and biodegradable sutures, are also fueling the demand.
  • The rising incidence of chronic diseases, such as cardiovascular diseases, obesity-related conditions, and cancer, is leading to an increased number of surgeries, thereby driving the demand for surgical sutures.
  • Minimally invasive surgical techniques are becoming increasingly popular due to their advantages such as smaller incisions, reduced scarring, faster recovery, and lower risk of complications. These procedures often require the use of sutures for wound closure, contributing to market growth.

Vital Indicators Shaping The Future Of The Industry

  • Monitoring the market size and its growth rate is crucial to understanding the overall demand for surgical sutures. This indicator can help assess the market’s potential and identify opportunities for expansion or innovation.
  • Keeping track of technological advancements in surgical sutures is essential. New materials, designs, and manufacturing techniques can improve the efficacy, safety, and patient outcomes associated with sutures. Innovations such as absorbable sutures, antimicrobial sutures, and sutures with enhanced wound healing properties will shape the future of the market.
  • Changes in regulations and standards governing the production, marketing, and use of surgical sutures can significantly impact the market. Monitoring regulatory developments, including guidelines from regulatory authorities, helps anticipate shifts in compliance requirements and adapt to evolving industry standards.
  • The increasing preference for minimally invasive surgical procedures will influence the demand for sutures. As these procedures continue to gain popularity due to their benefits, such as reduced scarring and faster recovery, the market will witness a shift towards sutures designed specifically for these techniques.

Key Market Imperative

  • Intense competition among manufacturers and suppliers of surgical sutures can lead to price competition. Companies may lower their prices or offer discounts to gain a competitive edge and attract customers. Price competition can benefit healthcare providers and patients by making sutures more affordable, but it can also put pressure on profit margins for manufacturers.
    • In February 2021, Corza acquired Surgical Specialities Corp, a supplier that has helped the company to expand its product portfolio.
  • Competition drives companies to invest in research and development to differentiate their products and stay ahead of competitors. Manufacturers strive to introduce innovative surgical sutures with enhanced properties, such as improved tissue reactivity, absorption rates, and wound healing capabilities. The focus on innovation helps drive market growth and meet evolving customer needs.
  • Moreover, the competition encourages companies to expand their product portfolios to offer a wide range of surgical sutures. This allows healthcare providers to choose sutures that best suit their specific requirements. Companies may introduce different types of sutures, including absorbable and non-absorbable variants, to cater to diverse surgical procedures.

Industry Research 

  • By Product Type :
    • Absorbable
    • Non- Absorbable
  • By Source :
    • Natural
    • Synthetic
      • Monofilament
      • Braided
    • Coated
    • Uncoated
  • By Application :
    • Cardiovascular
    • General Surgery
    • Ophthalmic
    • Orthopedic
    • Dental
    • Gastroenterology
    • Gynecology
    • Plastic Surgery
    • Veterinary
  • By End-user :
    • Hospital Laboratories
    • Specialized Clinics
    • Ambulatory Surgical Centers
    • Veterinary Hospitals
    • Veterinary Clinics
  • By Region :
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & ASEAN
    • Oceania
    • MEA

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Joined: April 26th, 2021
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