Surgical Suture Market is projected to reach USD 4.9 billion by 2026

[Gauri Deshpande]

The global surgical sutures market is projected to reach USD 4.9 billion by 2026 from USD 3.7 billion in 2021, at a CAGR of 6.0% from 2021 to 2026. The market for surgical sutures is witnessing steady growth primarily due to the increasing number of surgical procedures performed globally. The favorable reimbursement scenario for a number of surgical procedures and the launch of advanced sutures are further contributing to the growth of this market. However, the presence of alternative wound care management products and the growing preference for minimally invasive surgeries are some of the factors expected to limit the growth of this market to a certain extent.

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“The Suture Threads segment accounted for the largest market share in 2020.”

Based on product, the surgical sutures market has been segmented into suture threads and automated suturing devices. In 2020, the suture threads segment accounted for the largest market share of 82.6%. The large share of this segment can be attributed to the greater preference for suture threads for wound closure and their lower cost as compared to automated suturing devices.

“The Multifilament sutures segment accounted for the largest market share in 2020.”

Based on type, the surgical suture threads market is segmented into monofilament and multifilament sutures. In 2020, the multifilament sutures segment accounted for the largest share of 67.5% of the surgical suture threads market. The large share of this segment is attributed to the increasing number of complex surgeries, rising geriatric population, and favorable reimbursement policies for hospital treatments.

“The cardiovascular surgery segment accounted for the largest market share in 2020.”

Based on application, the surgical sutures market is segmented into cardiovascular surgery, gynecological surgery, orthopedic surgery, ophthalmic surgery, general surgery, cosmetic and plastic surgery, and other applications. The cardiovascular surgery segment accounted for the largest share of 30.4% of the surgical sutures market in 2020. The large share of this segment can be attributed to a large number of cardiovascular surgeries performed across the globe as a result of the high incidence of cardiovascular disease (CVD).

“The hospitals segment accounted for the largest market share in 2020.”

Based on end users, the surgical sutures market is segmented into hospitals, ambulatory surgical centers, and clinics and physicians’ offices. Among these, the hospitals segment accounted for the largest market share of 74.7% in 2020. The large share of this segment is attributed to the increasing number of complex surgeries performed in hospitals, rising geriatric population, favorable reimbursement policies for hospital treatments, and the growing number of new hospitals, especially in emerging countries

“North America was the largest regional market for surgical sutures market in 2020“

The surgical sutures market is segmented into five major regions—north America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of 47.4% of the global surgical sutures market. The large share of this region is attributed to the growing geriatric population, rising prevalence of lifestyle diseases, favorable healthcare reforms, and the growing number of surgical procedures performed.

The Asia Pacific region is projected to grow at the highest CAGR of 8.8% during the forecast period, owing to the region’s growing medical tourism industry, rising prevalence of chronic diseases, and favorable reimbursement scenario. Moreover, key surgical suture manufacturers are also focusing on gaining a competitive edge in these high-growth markets, which is aiding the market growth in the Asia Pacific.

The break-down of primary participants is as mentioned below:

By Company Type – Tier 1: 40%, Tier 2: 35%, and Tier 3: 25%
By Designation – C-level: 25%, Director-level: 55%, and Others: 20%
By Region – North America: 40%, Europe: 25%, Asia Pacific: 20%, Latin America: 10%, and the Middle East & Africa: 5%
Research Coverage:

The report analyzes the surgical sutures market and aims at estimating the market size and future growth potential of various market segments, basis of product, type, application, end user, and region

The report also provides a competitive analysis of the key players operating in this market, along with their company profiles, product offerings, recent developments, and key market strategies.

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This report provides insights on:

Market Penetration: Comprehensive information on the product portfolios of the top players in the surgical sutures market. The report analyzes this market by product, type, application, end user and region.
Market Development: Comprehensive information on the lucrative emerging markets, by product, type, application, end user and region.
Market Diversification: Exhaustive information about the product portfolios, growing geographies, recent developments, and investments in the surgical sutures market
Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, and capabilities of the leading players in the surgical sutures market.
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