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Surgical Sutures Market

Surgical Sutures Market

Surgical Sutures Market Share Analysis, By Product Type (Absorbable Surgical Sutures, Non-Absorbable Surgical Sutures), By Raw Material (Polyglycolic Acid Absorbable Surgical Sutures, Polyglactin Absorbable Surgical Sutures, Others), By Source, By Application, By End-User & By Region Forecast, 2021-2031

Surgical Sutures Market
FACT4065MR
  • Sep-2021
  • List of Tables : 63
  • List of Figures : 137
  • 170 Pages
  • Healthcare

Market Snapshot

The surgical sutures market revenue totalled US$ 3.9 Bn for 2018, according to Fact.MR The global Surgical Sutures Market is expected to reach US$ 4.4 Bn. by 2021 and it is projected to register a CAGR of 5.6% during the forecast period 2021-2031. The demand for absorbable sutures products will accelerate with the top 5 vendors holding 60-75% of the market share. 

Key Points Covered in Surgical Sutures Industry Survey

  • Market Estimates and Forecasts 2016-2031
  • Key drivers and restraints shaping market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Surgical Sutures Market and How to Navigate
  • Recommendation on a Key Winning Strategy.

Surgical sutures market forecast analysis by Fact.MR

Sales Analysis of Surgical Sutures from 2016-2020 Vs Outlook 2021-2031

According to Fact.MR- a market research and competitive intelligence provider, in the 2016-2020 historical period, surgical sutures sales expanded at a CAGR of around 3%, reaching US$ 4.2 Bn. Increasing incidences of surgical procedures for trauma patients has been spurring demand for sutures in the recent past.

During the COVID-19 pandemic, surgical sutures sales witnessed stagnation in the first two quarter of 2020. This is attributed to a decline in surgical procedures for ailments other than SARS. However, in Q1 2021, prospects exhibited a gradual resurgence, as manufacturers realign supply chains towards providing essentials.

Attributed to the latest technological advancements in sutures industry, the global market is expected to reach US$ 6.5 Bn, growing at a CAGR of nearly 4% from 2021 to 2031.

How are Increasing Surgical Procedures Influencing Surgical Sutures Demand?

Proliferation in number of trauma patients and upsurge in surgical procedures has led to further expansion of the global healthcare industry, with growing establishments of hospitals and ambulatory surgical centres, providing momentum to the global market for surgical sutures.

According to the National Centre for Health Statistics, in 2009, nearly 48 million surgical procedures were carried out in the United States. Further, augmented demand for absorbable surgical sutures, along with high Average Selling Price (ASP) could lead to more dynamic growth of this segment in comparison to old-style non-absorbable ones.

Additionally, surgical sutures have become an ideal choice for surgeons, and have gained significant popularity over the years. Constant improvement in products by incorporating advanced technologies along with government support, are estimated to propel the demand for surgical sutures during the forecast period. 

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How will Mushrooming Trade Agreements Widen Growth Scope?

Several international trade agreements concerning exchange of medical devices and equipment are anticipated to bolster surgical sutures sales in the forthcoming decade. A case in point, U.S-based medical device manufacturers opine that multifarious benefits abound for surgical sutures revenue prospects when included in the ambit of trade agreements.

Across North America, as per the North American Free Trade Agreement (NAFTA) as well as the Trans-Pacific Partnership (TPP), the U.S, Canada and Mexico have eliminated customs, trade duties and restrictions on medical devices. This has yielded almost US$ 20.5 trillion in revenue for such products.

Which are Some Key Trends Influencing Future Market Demand?

Surgical sutures manufacturers are gaining considerable momentum, based on 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%.

Technological advancements such as the use of different kinds of synthetic materials with exceptional tissue holding properties and almost zero risk of infection and scar formation have led to the evolution of the market.

The advent of knotless sutures, antimicrobial sutures, bioactive sutures, and electronic sutures ensures detection of any leakage, infections in the wound in the market. The rapid development of drug-eluting and stem cell-seeded surgical sutures has also enabled efficient drug delivery to the surgical site.

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Country-wise Analysis

How is the U.S Fuelling Demand for Surgical Sutures?

The U.S is projected to dominate the North American market with a 38% revenue share and generating nearly US$ 1.3 Bn market worth during forecast period. Deepening penetration of technological advancements and hefty government investment to improve healthcare infrastructure while swelling demand for efficient and minimal invasive surgery will expand market growth.

In North America, under North America Free Trade Agreement (NAFTA) and Trans-Pacific Partnership (TPP), the U.S., Canada, and Mexico have removed custom and trade duties imposed and restrictions on medical devices and according to an estimate, nearly US$ 20.5 trillion of goods and services are generated in the region, boosting the growth of the surgical sutures market. However, increasing usage of alternative methods may hinder the market growth.

How is China Broadening Prospects for Surgical Sutures? 

The Asian market for surgical sutures is anticipated to expand the highest, with countries such as China, India and Japan likely to emerge at the forefront of global market demand.

The Chinese surgical sutures market is expected to grow at 5.3% CAGR and is projected to in the forecast period as it is proved to be better for inner body wound closure as compared to synthetic sources such as polymers.

Growth is further fuelled by an expanding geriatric population, prompting enhanced government spending on healthcare infrastructure development for meeting unmet medical needs in the country.

Category-wise insights

Why are Absorbable Sutures Witnessing High Demand?

According to Fact.MR, absorbable surgical suture will experience high growth, expanding at over 5% CAGR. Advantages include the elimination of a follow-up visit for manual removal of the suture, as well as reduced chances of scarring and infection.

Absorbable sutures are highly suitable for addressing facial lacerations, percutaneous closure of lacerations under casts or splints, closure of tongue or oral mucosa cuts, hand and nail lacerations and nail bed lacerations.

Why are Sutures for Cardiovascular Surgeries Gaining Ground?

Based on application, surgical sutures for cardiovascular surgeries are expected to account for over 30% of the global revenue, according to Fact.MR. This is majorly attributed to the ever increasing number of cardiovascular procedures worldwide.

Numerous manufacturers are active in the cardiovascular surgical sutures domain. For instance, Aurolab a broad range of cardiovascular suture needles manufactured from polypropylene, nylon, polyester and silk among other materials.

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Competitive Landscape

Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.  

  • In February 2019, Johnson & Johnson (NYSE: JNJ), made an announcement regarding Ethicon, Inc., entering into a definitive agreement to acquire Auris Health, Inc. for approximately US$3.4 billion. This acquisition will accelerate Johnson & Johnson's entry into robotics with potential for growth and expansion into other interventional applications.
  • In December 2019, Medtronic plc MDT completed the acquisition of Klue, a software company focused on behavior tracking of people. Notably, in February 2019, PCL received Breakthrough Device designation from the FDA. The acquisition is expected to be neutral to Medtronic’s fiscal 2020 earnings per share.

Report Scope

Attribute

Details

Market size value in 2021

USD 4.4 Billion

Market forecast value in 2031

USD 6.5 Billion

Growth Rate

CAGR of 4% from 2021 to 2031
Forecast Period 2021-2031
Historical Data Available for 2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

Key Countries Covered

  • U.S
  • Canada
  • Brazil
  • Mexico
  • Germany
  • Italy
  • France
  • U.K
  • Spain
  • BENELUX
  • Russia
  • India
  • ASEAN
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • GCC
  • Turkey
  • South Africa

Key Market Segments Covered

  • Product Type
  • Raw Material
  • Source
  • Application
  • End User
  • Region

Key Companies Profiled

  • Peters Surgical
  • Smith & Nephew Plc.
  • Johnson & Johnson
  • B. Braun Melsungen AG
  • Boston Scientific Corporation
  • Medtronic Plc.
  • Arthrex Inc.
  • Sutures India Pvt. Ltd
  • Centenial Surgical Suture Ltd
  • Assut Medical S.r.L

Pricing

Available upon Request

Key Segments Covered

  • Product Type

    • Absorbable Surgical Sutures
    • Non-Absorbable Surgical Sutures
  • Raw Material

    • Polyglycolic Acid Absorbable Surgical Sutures
    • Polyglactin Absorbable Surgical Sutures
    • Catgut Absorbable Surgical Sutures
    • Poliglecaprone Absorbable Surgical Sutures
    • Polydioxanone Absorbable Surgical Sutures
    • Polypropylene Non-Absorbable Surgical Sutures
    • Nylon (Poylamide) Non-Absorbable Surgical Sutures
    • Polyester Non-Absorbable Surgical Sutures
    • Polyvinylidene Fluoride (PVDF)
    • Non-Absorbable Surgical Sutures
    • Silk Non-Absorbable Surgical Sutures
    • Stainless Steel Non-Absorbable Surgical Sutures.
  • Source

    • Natural Surgical Sutures
    • Synthetic Surgical Sutures
    • Coated Surgical Sutures
    • Uncoated Surgical Sutures
  • Application

    • Cardiovascular procedures
    • General Surgery Procedures
    • Ophthalmic Procedures
    • Orthopedic Procedures
    • Dental Procedures
    • Gastroenterology Procedures
    • Gynaecology Procedures
    • Plastic Surgery Procedures
    • Veterinary Procedures
  • End User

    • Hospitals
    • Clinics
    • Ambulatory Surgical Centres
    • Emergency Medical Services
    • Veterinary Hospitals
    • Veterinary Clinics

- FAQs -

As of 2021, sales of Surgical Sutures Market estimated to reach nearly US$ 4.4 Bn

From 2016 to 2020, sales of surgical sutures expanded at approximately 3% CAGR

From 2021 to 2031, surgical sutures industry will follow a 4% CAGR as per Fact.MR

Proliferation in number of trauma patients and upsurge in surgical procedures will drive the demand of surgical sutures.

Fact.MR estimates the U.S market to reach US$ 1.3 Bn with respect to surgical sutures demand by 2031

China is expected to expand at a CAGR of 5.3% from 2021 to 2031

Johnson & Johnson (Ethicon Inc), B. Braun Melsungen AG, Medtronic Plc, Boston Scientific Corp Arthrex Inc., Peters Surgical, Sutures India Pvt Ltd, Centenial Surgical Suture Ltd. are prominent Surgical Sutures manufacturers included in the report.<

Cardiovascular procedures will account for the bulk of all surgical sutures demand, capturing over 30% revenue

Absorbable surgical sutures are likely to register a CAGR of 5% across the 2021-2031 forecast period

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

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