Market Definition
Surgical suture is one of the most common medical devices used by doctors during surgeries. The suture helps in holding body tissues together after a surgery or an injury. The application of a suture essentially involves the use of a needle along with an attached thread. Surgical sutures are used to close wounds such as skin ulcers, neuropathic ulcers, pediatric cardiac surgery, and diabetic ulcers. These sutures cause less reaction and provide better passage of the thread through the tissue.
Market Outlook
The global surgical sutures market was valued at USD 4.3 billion in 2021 and it is anticipated to grow up to USD 5.6 billion by 2031, at a CAGR of 2.6% during the forecast period.
Increasing number of surgical procedures will augment the market growth. According to the WHO 2016 Report, the estimated mean global surgical rate was 4,469 operations per 100,000 people per year, with road accidents and associated trauma being the major cause of surgical treatment. According to the EC Factsheet 2017, globally, there are around 174 fatalities per million population every year. Furthermore, WHO data estimates that around 1.3 million people die each year on the roads. For every road accident-related death, there are 20 other persons who sustain non-fatal injuries that often require surgical intervention. The aging population is at a higher risk of chronic diseases and conditions and requires frequent surgeries. Adults aged 65 and above account for a large fraction of surgeries performed in the US. The rapid growth in the aging population and the growing incidence of various chronic diseases are expected to significantly drive the number of surgeries performed globally.
Furthermore, by 2030, non-communicable diseases (NCDs) are projected to account for more than one-half of the disease burden in low-income countries and more than three-fourths in middle-income countries. In the geriatric population, NCDs account for more than 87% of the burden in low, middle, and high-income countries. The high prevalence of chronic diseases, especially among the geriatric population, will considerably boost the number of surgical treatment procedures conducted and thus drive the demand and use of surgical sutures.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Global Surgical Sutures Market Segmentation
Type
- Absorbable
- Non-absorbable
Filament
- Monofilament
- Multifilament
Application
- Ophthalmic Surgery
- Cardiovascular Surgery
- Orthopedic Surgery
- Neurological Surgery
- Others
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Major Players in the Global Surgical Sutures Market
The key players in the market are Medtronic Plc (Ireland), Johnson & Johnson (US), Advanced Medical Solutions Group plc (UK), Stryker Corporation (U.S.), B. Braun Melsungen (Germany), Smith & Nephew (UK), Boston Scientific Corporation (US), Peters Surgical (France), DemeTECH Corporation (US) and Surgical Specialties Corporation (US), among others.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.
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