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.
The Market survey of Surgical Sutures offers a comprehensive analysis of diverse features, including production capacities analysis of Surgical Sutures, demand, product developments, revenue generation, and Size of Surgical Sutures Market across the globe.
The Demand analysis of Surgical Sutures Market offers a comprehensive analysis of diverse features, demand, product developments, revenue generation, and sales of Surgical Sutures Market across the globe.
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Key Segments Covered
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Product Type
- Absorbable Surgical Sutures
- Non-Absorbable Surgical Sutures
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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.
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Source
- Natural Surgical Sutures
- Synthetic Surgical Sutures
- Coated Surgical Sutures
- Uncoated Surgical Sutures
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Application
- Cardiovascular procedures
- General Surgery Procedures
- Ophthalmic Procedures
- Orthopedic Procedures
- Dental Procedures
- Gastroenterology Procedures
- Gynaecology Procedures
- Plastic Surgery Procedures
- Veterinary Procedures
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End User
- Hospitals
- Clinics
- Ambulatory Surgical Centres
- Emergency Medical Services
- Veterinary Hospitals
- Veterinary Clinics
Key Takeaways from the Market Study
- The global surgical sutures market is anticipated to add 1.5x value by 2031 compared to 2021
- Absorbable surgical sutures to expand at a CAGR of 5.6% from 2021 to 2031
- By application, surgical sutures for cardiovascular surgeries to account for 30% revenue
- Sales across the U.S likely to be valued at US$ 1.3 Bn in value terms until 2031
- China to emerge as an opportunistic market, expanding at 5.3% CAGR
“Establishments of new hospitals & ambulatory centres will the project continue to surge in the market, in terms of value, fuelled by latest advances in the manufacturing process of Surgical Sutures.” comments a Fact.MR analyst
Competitive Landscape
Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advances for cancer screening, mergers, and acquisitions.
- In February 2019, Johnson & Johnson, made an announcement regarding Ethicon, Inc., entering into a definitive agreement to acquire Auris Health, Inc. for approximately US$3.4 billion in cash. 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.