The surgical sutures market revenue totalled US$ 3.9 Bn for 2018, according to Fact.MR. As of 2021, the industry is expected to reach US$ 4.4 Bn. The demand for absorbable sutures product will accelerate with top 5 vendors holding 60-75% of the market share. Absorbable sutures are the largest contributor to the industry, expected to grow at 5.6% CAGR due to its cost efficiency and temporary support to the wound.
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.
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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 use of different kinds of synthetic materials with exceptional tissue holding properties and almost zero risk of infection and scar formation has 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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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.
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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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$3.4 billion. This acquisition will accelerate Johnson & Johnson's entry into robotics with potential for growth and expansion into other interventional applications.
- In December 2019, Medtronic plc MDT completed the acquisition of Klue, a software company focused on behavior tracking of people. Notably, in February 2019, PCL received Breakthrough Device designation from the FDA. The acquisition is expected to be neutral to Medtronic’s fiscal 2020 earnings per share.
Market size value in 2021
|USD 4.4 Billion|
Market forecast value in 2031
|USD 6.5 Billion|
|CAGR of 4% from 2021 to 2031|
|Historical Data Available for||2016-2020|
|US$ Mn for Value & ‘000 Units for Volume|
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Segments Covered
- Absorbable Surgical Sutures
- Non-Absorbable Surgical Sutures
- 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.
- Natural Surgical Sutures
- Synthetic Surgical Sutures
- Coated Surgical Sutures
- Uncoated Surgical Sutures
- Cardiovascular procedures
- General Surgery Procedures
- Ophthalmic Procedures
- Orthopedic Procedures
- Dental Procedures
- Gastroenterology Procedures
- Gynaecology Procedures
- Plastic Surgery Procedures
- Veterinary Procedures
- Ambulatory Surgical Centres
- Emergency Medical Services
- Veterinary Hospitals
- Veterinary Clinics
Surgical Sutures Market-Scope of Report
A recent study by Fact.MR on the surgical sutures market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging associated with the manufacturing of surgical sutures.
The study also provides the dynamics responsible for influencing the future status of the Surgical Sutures market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the surgical sutures market, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers a comprehensive analysis of diverse features, including production capacities, demand, product developments, revenue generation, and sales of the Surgical Sutures Market across the globe.
A comprehensive estimate of the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of the Surgical Sutures Market during the forecast period. Price point comparison by region with the global average price is also considered in the study.
Key Questions Answered in Report
- Which is the most lucrative surgical sutures markets?
- Which factors will impact the growth of the surgical sutures market?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the surgical sutures industry?
- What are the winning strategies of stakeholders in the market?
Analysis on Market Size Evaluation
The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).
Estimates at global and regional levels for the surgical sutures market are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report.
Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global surgical sutures market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which has helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the surgical sutures market during the forecast period.
Country-specific valuation on demand for surgical sutures has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions ad countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries has also been included in the report.
In-depth Analysis on Competition Analysis
The report sheds light on leading manufacturers of surgical sutures, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in developing games have been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permit report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which includes essentials such as product portfolios and key strategies, along with an all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the Surgical Sutures market domain.
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the surgical sutures industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the draw conclusions.
Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.
- 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.
Is a sample of this report available for evaluation?
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