Global Surgical Sutures Market Size Grows at CAGR of 5.57% to Touch USD 7.8 Billion by 2030

Published | 15 February 2024

Global Surgical Sutures Market is flourishing due to the growing focus on the diagnosis, treatment, and management of increasing prevalence of lifestyle diseases and a spurring demand for sutures in a rising number of surgical procedures.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Global Surgical Sutures Market size at USD 5.33 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Global Surgical Sutures Market size to expand at a CAGR of 5.57% reaching a value of USD 7.79 billion by 2030. The Global Surgical Sutures Market is propelled by the rising healthcare demands from an aging population, a surge in chronic diseases requiring surgical intervention, advancements in suture materials and techniques, and a heightened emphasis on minimally invasive procedures. The surge in lifestyle diseases resulting from the widespread adoption of sedentary lifestyles is another key factor fueling the expansion of the surgical sutures market. Diseases like ischemic heart diseases, cerebrovascular diseases, orthopedic disorders, cancers, and mental illnesses are on the constant rise globally. The escalating prevalence of lifestyle diseases necessitates an increased number of surgical procedures, thereby propelling the market growth of surgical sutures. Also, the increased healthcare expenditure by many nations and enhancements in healthcare infrastructure in emerging economies are poised to elevate market growth. The integration of advanced technologies by key industry players facilitates more precise surgical procedures, elevating the success rate of surgeries and contributing to the growth of the surgical sutures market. The growing incidence of chronic conditions requiring surgical interventions, coupled with ongoing technological advancements and the expansion of healthcare infrastructure across regions, significantly contributes to the upward trajectory of the market.

Opportunity - Advancements in technology

The advancement in surgical technology is significantly enhancing the Global Surgical Sutures Market. Increased awareness of cutting-edge surgical procedures has driven market players to prioritize research and development, resulting in the introduction of innovative products. The market is witnessing a surge in new and automated sutures featuring enhanced capabilities, gaining popularity among surgeons worldwide. For example, in January 2023, Able Medical Devices launched Valkyrie Looped Sternotomy Sutures, aiming to offer a more robust sternal closure. Moreover, ongoing advancements in suture materials and tips have revolutionized the surgical suturing process, with manufacturers utilizing biocompatible materials known for accelerating wound healing, contributing to heightened market demand and adoption.

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Impact of Geopolitical Tensions on Global Surgical Sutures Market

The Global Surgical Sutures Market is impacted by geopolitical tensions in several ways, from the breakdown of hospitals in war-torn regions to critical shortages of medical supplies, creating a dire situation for patient care. Also, the vulnerability of IT systems to cyberattacks further compounds the strain on healthcare delivery. Disruptions in the production and transportation of medical supplies, coupled with raw material shortages, may lead to increased costs and supply chain complexities. As the industry faces these challenges, strategies such as automation and reshoring become crucial for mitigating risks and ensuring long-term resilience.

Global Surgical Sutures Market

Segmental Information

Global Surgical Sutures Market – By Product

Based on product, the Global Surgical Sutures Market is bifurcated into Suture Threads and Automated Suturing Devices segments. The suture threads segment holds a higher share in the Global Surgical Sutures Market by product. Surgical threads are widely preferred for wound closure in various healthcare settings, establishing themselves as the preferred choice due to their cost-effective attributes. This cost efficiency makes these products accessible to the general population, contributing to their widespread adoption in healthcare applications. Also, surgical sutures play a crucial role in gynecological procedures, promoting efficient wound healing.

Global Surgical Sutures Market – By Region

The in-depth research report on the Global Surgical Sutures Market covers the market in a number of major countries across five regions: North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America region holds the highest market share and is expected to maintain its dominance throughout the forecast period. It can be attributed to the robust presence of both local and international companies, fostering the creation of innovative products and establishing extensive distribution networks. Furthermore, the region's comparatively higher suture costs, coupled with favorable reimbursement policies and government healthcare initiatives, provided a conducive atmosphere for continuous market expansion. The well-established healthcare infrastructure in the region played a pivotal role in its dominance, facilitating widespread access to advanced surgical procedures and contributing significantly to its substantial market share in North America.

Competitive Landscape

The Global Surgical Sutures Market is fragmented, with numerous players serving the market. The key players dominating the Global Surgical Sutures Market include CONMED Corporation, B. Braun Melsungen AG, Johnson & Johnson Private Limited, Medtronic, Boston Scientific Corporation, 3M, Smith+Nephew, GE HealthCare, Integra LifeSciences, Medline Industries, Inc., and Zimmer Biomet. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.

Don’t miss the business opportunity of the Global Surgical Sutures Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The report's in-depth analysis provides information about growth potential, upcoming trends, and the Global Surgical Sutures Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Surgical Sutures Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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