Surgical Suture Size, Driving Demands, And Market Share of Various Stakeholders – Medtronic ,Ethicon LLC, Zimmer Biomet

Surgical Sutures Market was estimated to account for US$ 3,987.4 Mn in 2018. It is anticipated to grow at a CAGR of 5.0% from 2019 to 2030.

The significant growth of the surgical sutures market can be attributed to increasing number of surgical procedures, growing geriatric population, and favorable reimbursement scenario. In U.S., surgeons perform approximately 64 million surgical procedures, ranging from tooth extraction to open heart surgery every year. Furthermore, according to statistics, in 2014, the number of cardiovascular surgeries in North America was 377,763 and are estimated to increase up to 461,046 by 2021. Thus, these factors contribute to the growth of the market.

Major Key Players of the Surgical Suture Market are:

B. Braun Melsungen AG, Medtronic ,Ethicon LLC, Zimmer Biomet, Teleflex Incorporated, Conmed Corporation, Peters Surgical, Internacional Farmacéutica S.A. de C.V. (Atramat), EndoEvolution, LLC, DemeTECH Corporation

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Other factors such as encouraging government regulations and promising reimbursement situation for a number of surgical procedures, intensifying healthcare expenditure, increasing number of hospitals and growing healthcare demand in developing countries are fueling the growth of the surgical suture market. Sutures are a common element of the wound closure performed immediately after a surgical procedure. The American Medical Association (AMA) and Center for Medicare and Medicaid Services (CMS), consider suture removal to be an integral part of any procedure that includes suture placement, and needs no reporting of separate CPT code in most of the surgical procedures.

The factors which are hindering the market growth are presence of alternative wound care management products such as surgical staples, surgical adhesives or glues, surgical zippers; growing preference for minimally invasive surgeries, and risks associated with surgical sutures. Moreover, adoption of minimally invasive surgeries has gained widespread clinical acceptance due to their advantages over open surgeries. This growing adoption of minimally invasive surgeries has been fuelled by factors such as benefits of faster recovery, with less pain and fewer complications. Along with it, surgical suture materials have a slight tendency of tissue reactions or infections, thus affecting the market growth.

Research objectives:-

• To study and analyze the global Surgical Suture consumption (value & volume) by key regions/countries, product type and application, history data.
• To understand the structure of the Surgical Suture market by identifying its various sub-segments.
• Focuses on the key global Surgical Suture manufacturers, to define, describe and analyze the sales olume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
• To analyze the Surgical Suture with respect to individual growth trends, future prospects, and their contribution to the total market.
• To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).