Surgical Sutures Market Size, Share & COVID-19 Impact Analysis, By Product Type (Absorbable and Non-Absorbable); By Form (Natural and Synthetic); By Application (Gynecology, Cardiology, Orthopedics, General Surgery, and Others); By End-user (Hospitals & ASC’S, and Specialty Clinics), and Regional Forecast, 2021-2028

 Market Overview

Pune, India, 13th September 2021: The global surgical sutures market size was USD 3.33 billion in 2020. The market is projected to grow from USD 3.41 billion in 2021 to USD 5.12 billion in 2028 at a CAGR of 6.0% in the 2021-2028 period. This information is published by Fortune Business Insights™ in its report titled, “Surgical Sutures Market, 2021-2028.”

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Rescheduling of Optional Surgeries amid COVID-19 to Drop Demand for Surgical Sutures

The COVID-19 had a destructive impact on the global market for surgical sutures. Several significant market players observed a drop in the 2020 income in comparison with the prior financial year. The government and healthcare officials took an important decision by suspending optional operations, considering the thought to reserve the healthcare assets for the COVID-19 emergency. For example, as per data provided by THE PUBLISHING PVT LTD., the estimation said that about 81.7% of operations linked to the benign condition, 37.7% of surgical cancer treatment should be postponed owing to the COVID-19 pandemic globally.

Report Coverage

The report presents a systematic study of the surgical sutures market segments and a thorough analysis of the market overview. A thoughtful evaluation of the current market trends as well as the future opportunities are offered in the report. Moreover, it presents an exhaustive analysis of the regional insights and how they help to form the market growth. The COVID-19 impacts have been discussed in the report to assist investors and business owners to better understand the possible threats present in the market. The report further discusses the key manufacturers of sutures and their prominent strategies to stay in the dominating position.

Segmentation

On the basis of product, the market is segregated into absorbable and non-absorbable. Based on form, the market is segmented into natural and synthetic. By end-user, the market is further divided into hospitals & ASCs and specialty clinics. In terms of region, the global market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Drivers and Restraints

Increasing Number of Surgical Procedures to Boost Market Growth

Surging patients signing up for knee and hip replacement, hysterectomy, bypass operation, and cosmetic and beautification surgeries is uplifting the usage of the surgical sutures device to fix the injuries at a rapid pace.

For example, as per a fact report issued by the National Center for Biotechnology Information, annually roughly about 5% of patients, being performed on several surgeries, further in time grow surgical site septicity owing to the existence of germs in the sutures.

Regional Insights

North America held the highest surgical sutures market share and was worth USD 1.34 billion in 2020. This is owing to the increasing occurrence of chronic diseases leading to a huge number of patients being forced to have surgeries, resulting in an upsurge in demand for such sutures.

Competitive Landscape

Introduction of Technologically Advanced Products by Key Players to Spur Market Growth

The global market is conquered by few reputable players such as B. Braun Melsungen AG, Ethicon US LLC, and Medtronic in 2020. Strong emphasis on modernization of novel technology in suturing gadgets to accomplish the intricate surgical process, the extension of production size are some of their tactics to embrace the existing market places. On the contrary, developing players such as DemeTECH Corporation, Apollo Endosurgery, Inc., and others are aiming at emerging novel products in developing as well as developed countries to control the majority of the market shares.

For example, in April 2021, Medtronic introduced a research and development facility in India in order to support 15 Medtronic functioning divisions worldwide.

Industry Development

December 2020: Apollo Endosurgery, Inc., was granted the U.S. FDA sanction of the X-Tack endoscopic HeliX appending system to expand the usage of this novel technology.

 

List of Key Players Covered in this Market Report

  • Braun Melsungen AG (Melsungen, Germany)
  • Johnson & Johnson Services, Inc. (New Brunswick, U.S.)
  • Smith & Nephew (London, U.K.)
  • Medtronic (Dublin, Ireland)
  • Coloplast A/S(Humlebaek, Denmark)
  • Apollo Endosurgery, Inc. (Austin, U.S.)
  • Boston Scientific Corporation (Marlborough, U.S.)
  • DemeTECH Corporation (Miami, U.S.)
  • TEPHA INC. (Lexington, U.S.)
  • Internacional Farmacéutica (Cuahutemóc, Mexico)
  • Kono Seisakusho Co., Ltd. (Ichikawa City, Japan)

 

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