The global surgical suture market was $3,360 million in 2015 and is expected to reach $5,255 million by 2022, registering a CAGR of 6.4% from 2016 to 2022. Surgical sutures market is experiencing growth due to the expansion and emergence of wound care management sector.
Surgical sutures market, also called stitches, are surgical threads used to repair lacerations in the skin and to close surgical incisions. In addition, these sterile threads are used to stich skin, internal organs, blood vessels, and other tissues after the surgical procedure.
In addition, increase in number of surgeries, coupled with rising geriatric population and related increase in incidence of chronic diseases and technological innovations fuels the market growth. However, lack of proper sterilization systems for disinfecting suturing tool may hinder the market growth.
The global surgical sutures market has been segmented based on product type, applications, and geography. Based on product type, the market is segmented into automated suturing devices and sutures.
The sutures segment accounts for the largest share of this market. Sutures market by type, are further sub-divided into absorbable sutures and non-absorbable sutures.
Based on material, it is segmented into monofilament sutures and multifilament sutures. The multifilament segment accounted for the largest share of the sutures market in 2015.
Based on application, the global surgical sutures market is classified into cardiovascular surgeries, general surgeries, gynecological surgeries, orthopedic surgeries, ophthalmic surgeries, and others. The general surgeries application segment held the major share of the surgical sutures market in 2015 owing to rise in demand for surgical sutures in many types of abdominal and other surgeries.
Geographically, the surgical sutures market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market with largest share in 2015.
However, Asia-Pacific is anticipated to be the fastest growing region with the CAGR of 8.6% during the forecast period due to rise in number of surgical procedures, and the demand for better healthcare services from the patient population.
The key strategies adopted by the leading players are product launch, collaboration, and merger & acquisition. However, the market has registered substantial growth in the recent years, owing to the launch of various technologically innovative sutures such as biocompatible surgical sutures with antimicrobial coatings and their rise in demand among the end-users.
KEY BENEFITS FOR STAKEHOLDERS
- In-depth analysis of the global surgical sutures market is conducted based on market estimations of the key segments for the period of 2014‐2022
- Comprehensive analysis of market dynamics such as drivers, restraints, and opportunities impacting the market growth is discussed in the report
- Exhaustive analysis of the market by different segments helps to understand the different aspects of surgical sutures that are currently used along with the variants that would gain prominence in the future
- Competitive intelligence of leading manufacturers and distributors of surgical sutures market interprets the competitive scenario across various geographies
- Key market players within the market are profiled in the report and their strategies are analyzed thoroughly, which predict competitive outlook of the global market
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