The surgical suture market is projected to grow at a CAGR of 3.64% to reach US$5.198 billion by 2026, from US$4.046 billion in 2019.
The market for surgical sutures is witnessing steady growth on account of an increasing number of surgical procedures conducted worldwide. According to the Agency for Healthcare, Research and Quality, there are more than 11,474,800 surgeries held each year, in the United States, which in turn will drive the market growth for surgical sutures in the next few years. The primary reason behind the rising number of surgeries being performed is the increasing geriatric population, globally. According to the World Bank, in 2019, the geriatric population was 703 million persons, nationwide. The number of older persons is projected to double to 1.5 billion in 2050. The growing geriatric population, will in turn fuel the market growth for surgical sutures as the aged people are more likely to require surgeries to cure their ailments. Subsequently, the global population has been on a constant rise, due to which more number surgeries are taking place on a day-to-day basis.
According to the World Bank, the world population was 7.592 billion which increased to 7.674 billion in 2019. The continuous rise in the population will be favorable for the surgical suture market as the number of patients who require surgeries will increase. In addition, the increasing prevalence of chronic and other diseases in the global population is expected to augment the demand for surgical sutures in the market. According to Healthline, in the United States, in 2018, 30.3 million adults were diagnosed with heart diseases, who required surgical procedures for their treatment, which supported the market growth.
Furthermore, the rapid increase in specialized surgeries being performed due to technological advancement will further bolster the market growth. For instance, the Total Joint Replacement (TJR) surgery, is one of the most commonly performed surgical procedures in the United States.
According to a report by the American Academy of Orthopedic Surgeons (AAOS), by 2030, the total hip replacement surgeries are projected to grow by 171% and the total knee replacement surgeries by 189%, for a projected 635,000 and 1.28 million procedures, respectively, which will contribute in the growth of the surgical suture market during the forecast period. Also, the favorable reimbursement scenario for the surgical process and the technological advancement in surgical sutures will further spur market growth.
Market Share Segmentation.
By application, cardiovascular, gynecological, and orthopedic surgeries are all estimated to grow a high CAGR due to the increasing incidence of these diseases in the rapidly growing population, nationwide. By type, the segment of the absorbable suture is expected to hold a significant market owing to its beneficial properties such as high tensile strength, ideal degradation for soft tissue, high flexibility, and ability to pass smoothly through tissues which makes it a preferred choice amongst the patients and surgeons. Geographically, the North American region is estimated to hold the largest share due to the increasing geriatric population, growing prevalence of lifestyle diseases, favorable healthcare reforms, and the rising number of surgical procedures being performed. Asia Pacific region is projected to grow at the highest CAGR owing to the region’s expanding medical tourism industry, increasing prevalence of chronic diseases, and favorable reimbursement policies.
The number of patients suffering from cardiovascular diseases (CVD) across the globe has been on a constant rise. The constant increase in the numbers is likely to increase the demand for surgeries, which in turn, will propel the demand for surgical sutures in the market. According to the American Heart Association, in the United States in 2019, coronary events are expected to occur in about 1,055,000 individuals, including 720,000 new and 335,000 recurrent coronary events. The increasing incidence of cardiovascular diseases in people is driving the growth of the market during the forecast period as it will subsequently proliferate the demand for surgical sutures during the forecast period.
The surge in the number of patients suffering from chronic and cardiovascular diseases has subsequently increased the number of surgeries being performed, worldwide. The subsequent increase in surgeries has in turn augmented the demand for surgical sutures in the market. According to an article published by the British Journal of Anesthesia, in 2021, an annual average of 7.9 million procedures (inclusive category), 5.1 million procedures (intermediate category), and 1.5 million procedures (restrictive category) was performed in hospitals in the United Kingdom, which contributed to the growth of the surgical suture in the country. Hence, the surge in the surgeries being performed, globally will drive the market growth in the years to come.
There are several cheaper alternatives available for wound care management such as topical skin adhesives, hemostatic, sealing agents, stapling devices, ligating clips, wound closure strips, etc. Some of these products have an advantage over surgical sutures as they provide better closure and prognosis especially for elderly patients with frail skin. These alternatives may be more efficient and beneficial over surgical sutures, which may hamper the market growth during the forecast period.
Impact of COVID–19.
The Covid-19 pandemic negatively impacted the Global surgical sutures market, as due to the lockdown and travel and trade restrictions imposed by the governments, worldwide many patients deferred their ongoing treatments and postponed their surgeries to avoid public places which hampered the market growth as the number of elective surgeries being conducted witnessed a decline. According to an Ophthalmology Times article, the number of elective surgeries being performed in the United States reduced from 200 surgeries to only 10 surgeries a week, which limited the market growth. However, the patients who required surgeries on an urgent basis did go forward with it which stabilized the market growth.
The market leaders for the Global surgical suture market consist of Medtronic, PLC, Smith & Nephew, PLC, B. Braun Melsungen AG, DemeTech Corporation, Péters Surgical, Ethicon Inc. (a subsidiary under Johnson and Johnson), Atramat®, W. L. Gore & Associates, Inc., Sutures India Pvt. Ltd., and Surgical Specialties Corporation. The key players in the market implement growth strategies such as product launches, mergers, and acquisitions, etc. to gain a competitive advantage over their competitors. For instance, in June 2021, W. L. Gore & Associates, Inc., collaborated with Ballard Power Systems, to advance the benefits and applications of fuel cell technologies, globally.
|Market size value in 2019||US$4.046 billion|
|Market size value in 2026||US$5.198 billion|
|Growth Rate||CAGR of 3.64% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Application, Type, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Medtronic, PLC, Smith & Nephew, PLC, B. Braun Melsungen AG, DemeTech Corporation, Péters Surgical, Ethicon Inc. (a subsidiary under Johnson and Johnson), Atramat®, W. L. Gore & Associates, Inc., Sutures India Pvt. Ltd., Surgical Specialties Corporation|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What is the size of global surgical suture market?
A1. Surgical Suture Market was valued at US$4.046 billion in 2019.
Q2. What will be the surgical suture market size by 2026?
A2. The surgical suture market is projected to reach a total market size of US$5.198 billion by 2026.
Q3. What are the growth prospects for the surgical suture market?
A3. The global surgical suture market is projected to grow at a CAGR of 3.64% during the forecast period.
Q4. What factors are anticipated to drive the surgical suture market growth?
A4. The surgical sutures market is witnessing steady growth on account of an increasing number of surgical procedures conducted worldwide.
Q5. How is the global surgical suture market segmented?
A5. The global surgical suture market has been segmented based on application, type, and geography.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Surgical Suture Market Analysis, By Application
5.2. Cardiovascular Surgery
5.3. General Surgery
5.4. Orthopedic Surgeries
5.5. Gynecological Surgery
6. Global Surgical Suture Market Analysis, By Type
6.2. Absorbable sutures
6.2.1. Poliglecaprone (MONOCRYL)
6.2.2. Polydioxanone (PDS)
6.2.3. Polyglactin (Vicryl)
6.3. Non-Absorbable sutures
6.3.2. Polypropylene (Prolene)
6.3.3. Polyester (Ethibond)
7. Global Surgical Suture Market Analysis, By Geography
7.2. North America
7.2.1. United States
7.3. South America
7.4.1. United Kingdom
7.5. The Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
8. Competitive Intelligence
8.1. Competitive Benchmarking and Analysis
8.2. Recent Investment and Deals
8.3. Strategies of Key Players
9. Company Profiles
9.1. Medtronic, PLC
9.2. Smith & Nephew, PLC
9.3. B. Braun Melsungen AG
9.4. DemeTech Corporation
9.5. Péters Surgical
9.6. Ethicon Inc. (a subsidiary under Johnson and Johnson)
9.8. W. L. Gore & Associates, Inc.
9.9. Sutures India Pvt. Ltd.
9.10. Surgical Specialties Corporation
Smith & Nephew, PLC
B. Braun Melsungen AG
Ethicon Inc. (a subsidiary under Johnson and Johnson)
W. L. Gore & Associates, Inc.
Sutures India Pvt. Ltd.
Surgical Specialties Corporation
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