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Surgical Sutures Market by Product Type (Automated Suturing Device, Suture Thread) By Application Type (Cardiac, Gynae, Ophthalmic, Orthopedic) by Region, And Segment Forecast, 2020 – 2028

Report ID: RMI2334520 | No. of Pages : 180 | Category : Medical Devices

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The Surgical Sutures Market is expected to reach USD 6.26 Billion by 2028 from USD 3.91 Billion in 2019, at a CAGR of 5.39% from 2020 to 2028.

Scope and Dynamics of the Surgical Sutures Market

Global Surgical Sutures Market is foreseeing positive outlook since last decade. The market appears to be one of the biggest markets within Healthcare Industry. The global Surgical Sutures market is not only playing a major role in developed market but also shaping in emerging geographies due to growing demand from cardiovascular industry. Presence of various companies investing in these sectors to expand their business will stimulate industry growth in coming years. Growing aging population and increasing prevalence of chronic diseases are the major factors drive the growth of the surgical sutures market.

Regionally, North America contributes highest share in global Surgical Sutures market and holds a dominant lead. With continued increase in the demand for Surgical Sutures from multiple applications and the presence of key players in this region, the North America Surgical Sutures market is expected to continue to lead the global market in the coming years. Europe, among other regional Surgical Sutures market is also projected to report a fast-paced growth over the next couple of years.

Covid-19 IMPACT

The coronavirus outbreak has caused concern and economic hardship for businesses, consumers, and even for the government worldwide. According to the International Monetary Fund (IMF), the global economy is expected to shrink by over 3% in 2020. This is expected to lead to recession and increase the unemployment rates globally. In the US, Covid-19-related disruptions have led to millions filing for unemployment benefits. In April alone, the figures were at 20.5 million, and are expected to rise as the impact of the pandemic on the US labor market worsens. As per a Reuters report, since March 21, more than 36 million have filed for unemployment benefits, which is almost a quarter of the working-age population. The world trade has also seen decline. According to WTO, the drop is expected to be 13% -32% in 2020.

This situation due to COVID -19 has led to the uncertainty around its impact on various industries. The majorly affected sectors include airlines, automotive, manufacturing sector, construction sites, pharmaceuticals, medical, and tourism. The medical device industry was standstill for some period of time which has caused some losses to these companies and thus, have affected the healthcare sector. The demand towards addressing Covid-19 situation was more than surgeries and treatments in hospitals. This has reduced the demand for surgical sutures and other operations resulting in decreased demand. Medical devices industry has also witnessed huge losses owing to the suspended manufacturing process, low demand from end users. The labor issue has impacted these companies largely.

The surgical sutures market has been less affected. Various governments are pumping money into the economy, for instance US Fed have taken an initiative to pump $1.5 trillion into the financial system similar initiatives have been taken by various governments, which is expected to reduce the negative impact on the economy. Such initiatives may help to decrease the severity of the impact on these industries. The outbreak of COVID-19 has brought massive slowing of the supply chain; uncertainty in the stock market; falling business confidence, and growing panic among the population. Despite the growing uncertainty and panic, technology suppliers must continue to focus on their long-term investments, maintain engagement with partners and prospects, and look to specific markets for stability. Emerging technologies like Industry 4.0, the Internet of Things and innovation in the high-performance material will be fundamental to an overall recovery by the healthcare sector.

Global Surgical Sutures Market Segmentation
By Product Type

  • Automated Suturing Device
  • Suture Thread

By Application Type

  • Cardiac
  • Gynae
  • Ophthalmic
  • Orthopedic

By Key Market Players

  • Ethicon, Inc
  • Medtronic plc (Ireland)
  • B. Braun Melsungen AG (Germany)
  • Smith& Nephew plc (UK)
  • Boston Scientific Corporation (US)
  • Péters Surgical (France)
  • DemeTECH Corporation (US)
  • Internacional Farmacéutica (Mexico)
  • Sutures India (India)
  • EndoEvolution, LLC. (US)
  • Apollo Endosurgery, Inc. (US)
  • Surgical Specialties Corporation (US)
  • Mellon Medical B.V. (Netherlands)

Market Overview
Technological Advancements Accelerating Adoption of Surgical Sutures

Surgical In the last few years, some of the major technological advancements have taken place in the global surgical suture market. Such industrial activity has led to increased product adoption of surgical sutures and demand. In comparison with other wound closure products available in the market, the usage of surgical sutures has increased fairly well. Some of the technical advancements that have been incorporated in these sutures include the use of different kinds of synthetic materials with exceptional tissue holding properties and almost zero risk of infection and scar formation.

Additionally, there have been ongoing developments to improve suture coatings, braiding technologies, and antibacterial coatings. Currently in the market, only one product named Triclosan-coated polyglactin 910 or Vicryl Plus Antibacterial developed by Ethicon is available, which has been found to reduce surgical site infection rate by 30 per cent. Besides, handling and tension force of these sutures was found to be comparable to standard surgical suture products.

Rise In the Number of Surgical Procedures

Enhanced Over the years, increase in the number of surgical procedures has led to further expansion of the healthcare industry, with establishments such as hospitals and ambulatory surgical centers growing. It has also resulted in increased end-user demand for surgical devices including surgical sutures. Furthermore, growing number of veterinary and specialized clinics is also driving the growth of the market of surgical sutures. Growing number of trauma patients as well as upsurge in hospitals and other healthcare centres is also anticipated to increase the demand for surgical sutures in the forecast period.

Market Restraints
Usage of Alternative Methods

It is anticipated that the increasing usage of alternative methods of wound closure would downgrade the global market growth of surgical sutures. Other wound closure products such as skin adhesives, hemostats, staples, and tissue sealants are expected to hinder the growth of the global surgical sutures market. For instance, Intuitive Surgical Inc. in September 2018 declared that the company received the US FDA approval for its Sure Form 60, a minimally invasive surgical stapling device. Moreover, companies in the global surgical sutures market face stiff competition across their product lines and compete with companies both at local and global level.

Lately, there has been increased growth in laparoscopic procedures that can affect the growth of the surgical sutures market. Compared to other open surgeries, laparoscopic procedures require few units of surgical sutures. Smaller incisions and use of more precise devices on patients would cause less bleeding and lesser chances of developing post-surgical complications. As more and more specialties are increasingly adapting to minimally invasive procedures, the expansion of surgical sutures and suturing devices becomes limited.

Additionally, low product availability and high cost of the devices and lack of skilled professionals’ constraints the market growth

Stringent Government Regulations and High Competition

The main challenges in the Surgical Sutures Market are increasing competition and strict regulations among key players are the main obstacles to controlling market expansion and, in many cases, needle-related infections have hampered the growth of the surgical market, primarily during the forecast period.

The lack of a proper sterilization system and unfavorable taxation in medical institution hinder the market growth in the region.

Market Opportunities
Healthcare Sector in Emerging Nations

Many Asian countries have evolved to exhibit steady regional growth with improvement in healthcare infrastructure. Countries such as India and China, with their favorable government support are expanding their National Health Insurance to cover more treatment procedures including those incorporating surgical sutures. Besides, relaxation in custom duties will also boost the surgical sutures market growth in untapped markets of emerging regions.

In emerging nations, the absorbable sutures segment is anticipated to expand rapidly and could be the main driver behind the growth of the surgical sutures market in countries such as India, China, and Brazil. Increased demand for absorbable surgical sutures, along with high Average Selling Price (ASP) could lead to more dynamic growth of this segment in comparison to traditional non-absorbable ones.

Market Challenges
Reduction of non-emergency procedures amid COVID-19

The effect of the COVID-19 on particular medical device segment is projected to be more impactful owing to the slowdown in non-emergency procedures and healthcare services. The hospitals in the U.S. saw a 40-60% reduction in hospital visits after the WHO labelled coronavirus outbreak aa pandemic. Additionally, in the U.K., the government has cancelled more than 2 million non-emergency procedures to prepare healthcare resources to compact against the pandemic. Such a decrease in selective surgeries could have a negative impact on the market. However, the market is estimated to bounce back after the resumption of healthcare services and elective surgeries.

Huge competition

The Healthcare industry is considered as highly competitive and a lot of players are in the competition trying to capture the market share by introducing new devices and techniques or reducing the costs to make it cut throat. As the demand is increasing in the larger economies a lot of the surgery instruments manufacturer companies are engaging in competition.

Regional Insights

The market size for the North America was USD 1.38 Billion in 2019. The North American market is witnessing strong growth owing to rise in adoption of advanced absorbable & antibacterial coated sutures, increase in incidence of various chronic diseases, and the development of the wound management sector. The U.S. surgical sutures market is anticipated to account for the major share of the market, due to rise in demand for innovative surgical procedures & surgical products such as biocompatible surgical sutures with antimicrobial coatings. Moreover, high healthcare investment for R&D in the U.S. and Canada is expected to increase the market during the forecast period.

The market is analyzed across globe. The North America region holds the 35% of market share with the CAGR of 5.70%. Rising demand from major countries such as US, China, and India, where the population is growing at a higher pace. This is due to the presence of established manufactures across developed region and with continued increase in the demand for Surgical Sutures from end-use applications and inclination towards adoption of latest technology in wound care option.

The Asia Pacific Surgical Sutures market is expected to continue to grow fastest in coming years. Asia Pacific especially China has witnessed a major shift in the last 20 years making the China, an attractive market place both at manufacturing and at an executional level. The Chinese Market was valued at USD 296.1 Million in 2019. With the global Surgical Sutures market witnessing major transition in terms of technological advancements, enhancements, and the growing investments in healthcare industry, the market poses a lucrative option in the coming years. Increasing awareness about surgeries, surge in geriatric population, and rise in demand for better healthcare facilities are expected to provide lucrative opportunities for the surgical sutures market growth during the forecast period in Asia Pacific region.

North America
  • U.S.
  • Canada
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Sweden
  • Netherland
  • Turkey
  • Switzerland
  • Belgium
  • Rest of Europe
  • South Korea
  • Japan
  • China
  • India
  • Australia
  • Philippines
  • Singapore
  • Malaysia
  • Thailand
  • Indonesia
  • Rest Of APAC
Latin America
  • Mexico
  • Colombia
  • Brazil
  • Argentina
  • Peru
  • Rest of South America
Middle East and Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest Of MEA

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