Surgical Suture Market by Product (Automated Suturing Device (Disposable, Reuse), Suture Thread (Natural, Nylon, Prolene, Stainless Steel, Silk)), Application (Cardiac, Gynae, Ophthalmic, Orthopedic), End User (Hospital, Clinic) - Global Forecast to 2023
“The surgical sutures market is projected to grow at 5.4% during the forecast period.”
The surgical sutures market is expected to reach USD 5.02 billion by 2023 form USD 3.68 billion by 2018, at a CAGR of 5.4% from 2018 to 2023. The global market for surgical sutures is witnessing steady growth primarily due to the increasing number of surgical procedures conducted, globally. The favorable reimbursement scenario for a number of surgical procedures and the launch of advanced sutures are further contributing to the market growth.
“By application, the cardiovascular surgery segment is expected to grow at the highest CAGR during the forecast period.”
Based on application, the surgical sutures market is segmented into cardiovascular surgery, gynecological surgery, orthopedic surgery, ophthalmic surgery, general surgery, cosmetic surgery, and other applications. The cardiovascular surgery segment is expected to grow at the highest CAGR during the forecast period. The largest share of this application segment can be primarily attributed to the large number of cardiovascular surgeries performed across the world as a result of the high prevalence of cardiovascular diseases (CVDs).
“Asia to witness high growth during the forecast period.”
In 2018, North America is estimated to account for the largest share of the market, followed by Europe. However, Asia is expected to register the highest CAGR during the forecast period. The high growth can be attributed to region’s growing medical tourism industry, rising prevalence of chronic diseases, and favorable reimbursement scenario. Moreover, the key surgical sutures manufacturers are also focusing on gaining a competitive edge in these high-growth markets, which is aiding the growth in Asia.
The primary interviews conducted for this report can be categorized as follows:
By Company Type: Tier 1 - 28%; Tier 2 - 12%; Tier 3 - 60%.
By Designation: C-level- 23%; D-level- 25%; others--52%.
By Region: North America-59%; Europe-14%; Asia -22%; RoW-5%.
List of companies profiled in the report
Ethicon, Inc. (US)
B.Braun Melsungen AG (Germany)
Smith& Nephew plc (UK)
Boston Scientific Corporation (US)
Péters Surgical (France)
DemeTECH Corporation (US)
Internacional Farmacéutica (Mexico)
Sutures India (India)
EndoEvolution, LLC. (US)
Apollo Endosurgery, Inc. (US)
Surgical Specialties Corporation (US)
Mellon Medical B.V. (Netherlands)
The report provides an overview of the surgical sutures market. It aims at estimating the market size and growth potential of this market across different segments such as product, type, application, end user, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in the surgical sutures market with closest approximations of revenues for the overall market and its subsegments. This report will help stakeholders understand the competitive landscape better and gain insights to position their businesses and help companies adopt suitable go-to-market strategies. The report also will help stakeholders understand the pulse of the market and provide them with information regarding key market drivers and opportunities.
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