Surgical Sutures Market Study 2022-2030 Providing Insights on Key Players, Growth Drivers and Industry Challenges – Shanghaiist
Surgical Sutures Market: Description
Any type of surgery requires several different types of components and tools. Typically, these tools are used in cases of abscission to seal a wound.
A surgical suture is also referred to as a stitch or stitches with the use of a medical device that holds tissues and wounds together after injury or surgery. The procedure usually involves the use of a needle and thread. In the event of surgery, the wound generally takes several days to heal; however, doctors are required to seal or stitch up the wound or cut to prevent bleeding and infection. This is possible with the help of surgical tools and equipment.
A surgical suture is one of the medical devices commonly used by surgeons and doctors during surgical operations. The suture helps bind the tissues together after surgery. The procedure involves processing or sewing using a needle and thread.
Description of the market
The global surgical sutures market is currently worth USD 4.4 billion and is expected to expand at a CAGR of 5.8% over the period 2022-2030, amassing a valuation of USD 6.5 billion by the end of the market. evaluation period.
The growth of the market is associated with factors such as growing demand, trade revenue, economic status of that particular region, supply chain, and others.
With advances in medical technology, some devices have undergone incredible changes with designs, shapes, wire sizes, and materials used for sutures. Sutures are also known as the threads commonly used to seal or sew a cut on a body due to surgery or an accident.
The growth of the surgical sutures market is mainly driven by increasing accidents, rising medical expenses, rising awareness in cosmetology, and development of advanced sutures as laminate sutures. Additionally, increased awareness of new surgeries, growing geriatric population, and growth of better healthcare facilities are expected to provide lucrative opportunities for the market.
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In recent years, there has been an increase in the number of cosmetic surgeries and cosmetic procedures associated with an increase in people’s disposable income. Moreover, during the pandemic, the exposure to screen time has also increased due to which the need to look stylish has increased. This gave rise to cosmetology, craniofacial surgery and microsurgery.
For example, according to the American Society of Plastic Surgeons (ASPS) report, the number of cosmetic surgeries increased by 1% in 2016-2017 with 17.9 million surgical and minimally invasive cosmetic surgeries. This trend was followed in Europe with an increase of 134% in Italy, France and Germany.
According to the report submitted by WHO in 2016, globally, more than 4,469 operations per 100,000 people are carried out each year, which includes surgeries due to road accidents, trauma patients and surgeries general. Additionally, the geriatric population is growing and is at higher risk of contracting chronic diseases and conditions and requires frequent surgeries. This reason influenced the market.
Surgical Sutures are segmented into Type and Application
Surgical Sutures Market by Type is further split into:
- Absorbable suture
- Non-absorbable suture
The Surgical Sutures Market by Application is split into:
- Cardiovascular surgeries
- General surgeries
- Gynecological surgeries
- Orthopedic surgeries
- Ophthalmic surgeries
- Other surgeries
- Large grain
- Other raw material
Based on the geographical view, the market occupies regions like North America, Europe, Asia-Pacific, South America, Middle East and Africa. The North American region led the market in 2021 with a 40% share.
Impact of Covid-19 on the market:
The recent contagion that has taken over the world has had devastating effects on the economy and human life. It was an unprecedented challenge for the economy as a whole; in particular, with the healthcare industry. The surgical suture was negatively impacted. Surgical products alone represent 60-70% of the market, which had managed to stagnate in 2020 and in the first and second quarters of 2021.
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Main market players
The main players in any market include investors and intermediaries. Businesses analyze the process that identifies direct competitors to accomplish their mission and vision. Many leading companies undertake acquisitions and development activities to compete. The market is highly competitive and has seen increasing competition among vendors. Some of the key players are registered as Ethicon, B. Braun, Medtronic, Smith & Nephew, Boston Scientific, Peters Surgical, Demetech, Internacional Farmacéutica SA De CV, Healthium Medtech Limited, Apollo Endosurgery
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