Surgical Sutures Market to Reach $6.11 Bn, Globally, by 2027 at 5.6% CAGR: Allied Market Research

Increase in incidence of chronic diseases, surge in number of surgical procedures worldwide, and demand for minimally invasive surgeries drive the growth of the global surgical sutures market.

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Allied Market Research

Jan 12, 2021, 08:20 ET

PORTLAND, Ore., Jan. 12, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Surgical Sutures Market by Type (Automated Suturing Devices and Sutures), Material (Monofilament and Multifilament), Application (Cardiovascular Surgeries, General Surgeries, Gynecological Surgeries, Orthopedic Surgeries, and Ophthalmic Surgeries): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global surgical sutures industry generated $4.35 billion in 2019, and is expected to garner $6.11 billion by 2027, witnessing a CAGR of 5.6% from 2020 to 2027.

Prime determinants of growth

Increase in incidence of chronic diseases, surge in number of surgical procedures worldwide, and demand for minimally invasive surgeries drive the growth of the global surgical sutures market. However, availability of alternative wound care management products hinder the market growth. Contrarily, advancement in technologies and untapped potential from emerging countries are expected to create new opportunities in the next few years.

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Covid-19 Scenario

Many hospitals have postponed the selected surgeries due to eliminating possibility of cross-contaminations and allocation of resources to Covid-19 wards. Only those surgeries that were extremely necessary were conducted.
Surgical procedures have been reduced significantly as many patients delayed their surgeries after consultation with their doctors. This reduced the demand for surgical sutures.
The demand would rise steadily as the pace of surgeries conducted in hospitals increases and the number of coronavirus-infected patients decreases.

The sutures segment to continue its lead position in terms of revenue by 2027

Based on product, the sutures segment accounted for the highest market share, holding more than four-fifths of the total share of the global surgical sutures market in 2019, and will continue its lead position in terms of revenue during the forecast period. This is due to rise in number of surgeries across the world and emergence of smart suture that offer electronic feedback to patients. However, the automated suturing devices segment is estimated to grow at the highest CAGR of 6.3% from 2020 to 2027, owing to applicability to different surgical methods including open surgical operations, minimally invasive surgery, and female urogenital surgeries.

The multifilament segment to maintain its highest contribution throughout the forecast period

Based on material, the multifilament segment contributed to the highest share in 2019, accounting for more than half of the global surgical sutures market, and is projected to maintain its highest contribution throughout the forecast period. Moreover, this segment is projected to witness the highest CAGR of 6.0% from 2020 to 2027. This is due to its better tensile resistance, flexibility, and pliability than monofilament suture. The report also analyzes the monofilament segment.

North America to maintain its leadership status by 2027

Based on region, North America accounted for the highest market share in 2019, contributing to nearly half of the global surgical sutures market, and will maintain its leadership status by 2027. This is attributed to increase in adoption of advanced absorbable & antibacterial coated sutures, rise in surgical procedures, and the development of the wound management sector in the region. However, Asia-Pacific is expected to manifest the highest CAGR of 7.5% during the forecast period, owing to increase in number of surgical procedures with rise in incidence of chronic diseases and demand for better healthcare services from huge patient base.

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Leading market players

Johnson & Johnsons
B. Braun Melsungen AG
Smith & Nephew
Demetech Corporation
Conmed Corporation
W.L. Gore & Associates
Boston Scientific
Medtronic Inc.
Healthium MedTech
Peters Surgical
Surgical Specialties Corporation

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