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Global Surgical Sutures Market to Grow at a CAGR of 5.7% During 2021-2026, Aided by the Heightened Prevalence of Road Accidents Worldwide

According to a new report by EMR titled, ‘Global Surgical Sutures Market Report and Forecast 2021-2026’, the market reached a value of USD 4.4 billion in 2020. The surgical sutures industry is expected to witness a considerable growth in the forecast period, growing at a CAGR of 5.7% between 2021 and 2026 to attain USD 6.14 billion by 2026.

The global surgical sutures industry is being driven by the increased prevalence of road traffic crashes worldwide. In addition, with the increasing spread of chronic illnesses worldwide, along with the growing geriatric population, governments are increasingly investing in healthcare infrastructure to reduce the mortality risks associated with chronic illnesses. Moreover, the increased utilisation of monofilament sutures in various surgeries due to its excellent tensile strength, pliability, and flexibility is a major factor contributing to the market growth.

The growing focus of the leading healthcare and medical technology companies to enhance their medical surgical portfolio by incorporating advanced technologies and clinical solutions is predicted to positively impact the growth of the surgical sutures industry. For instance, In March 2021, Boston Scientific Corporation (NYSE: BSX) entered a definitive agreement to acquire the global surgical business of Israeli company Lumenis. This is expected to help Boston Scientific to expand its global footprint throughout Europe and Asia. In addition, in June 2021, Medtronic plc (NYSE: MDT), a leading medical technology company, announced the first patient procedure performed in Chile with its Hugo robotic-assisted surgery (RAS) system. The Hugo RAS system involves wristed instruments, 3D visualisation, and a powerful surgical video capture option. These developments are expected to aid the growth of the surgical sutures industry in the forecast period.

Market Breakup by Product, Material, Application, and Region:

  • The market is categorised based on product into automated suturing devices and sutures. Among these, the automated suturing devices can be further bifurcated into disposable automated suturing devices and reusable automated suturing devices. Meanwhile, the sutures segment can be further divided into absorbable sutures and non-absorbable sutures. Out of these, absorbable sutures can be further distributed into natural sutures and synthetic sutures. In contrast, the non-absorbable sutures can be further segregated into nylon sutures, prolene sutures, and stainless steel sutures.
  • On the basis of material, the market can be bifurcated into monofilament and multifilament.
  • Based on application, the industry can be segmented into cardiovascular surgeries, general surgeries, gynaecological surgeries, ophthalmic surgeries, and others.
  • Region-wise, the global market for surgical sutures can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for surgical sutures is being driven by the growing prevalence of road accidents worldwide.
  • The rampant chronic illnesses requiring surgical procedures, along with a growing geriatric population with heightened susceptibility to chronic illness, are also aiding the market growth.
  • The rapid technological advancements have significantly contributed to the market expansion. 
  • The growing investments in the research and development of surgical sutures are expected to further propel the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for surgical sutures for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the products, materials, applications, and major regions of surgical sutures.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global surgical sutures market are Braun Melsungen AG, Boston Scientific Corporation, ConMed Corporation, DemeTECH Corporation, Surgical Specialties Corporation, and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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