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Surgical Stitching Products Market Size & Share to Surpass $6.13 Billion by 2028 | Vantage Market Research
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WASHINGTON, April 10, 2023 (GLOBE NEWSWIRE) — The Global Surgical Stitching Products Market is valued at USD 3.82 Billion in 2021 and is projected to reach a value of USD 6.13 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 6.1% over the forecast period 2022-2028.
Market Overview
The growth of the market is attributed to the increasing number of surgical procedures, rising prevalence of chronic diseases, and growing demand for minimally invasive surgeries.
The market is segmented on the basis of product, application, material, end-user, and region. Based on product, the market is segmented into suture threads and automated suturing devices. The suture threads segment is expected to account for the largest share of the market during the forecast period. This is attributed to the increasing use of suture threads in various surgical procedures, such as general surgery, cardiovascular surgery, ophthalmic surgery, and orthopedic surgery.
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Market Dynamics
- Increasing number of surgical procedures: The number of surgical procedures performed worldwide is increasing due to the increasing prevalence of chronic diseases, such as cardiovascular diseases, cancer, and diabetes. These diseases require surgical intervention for treatment.
- Rising prevalence of chronic diseases: The prevalence of chronic diseases is increasing worldwide due to the changing lifestyle of people. These diseases require surgical intervention for treatment.
- Growing demand for minimally invasive surgeries: Minimally invasive surgeries are becoming increasingly popular due to their advantages over traditional surgeries, such as less pain, shorter recovery time, and smaller scars.
- Technological advancements: Technological advancements in surgical stitching products are leading to the development of new and innovative products that are more effective and safer.
Challenges
- High cost of surgical stitching products: Surgical stitching products are expensive, which can limit their adoption in low- and middle-income countries.
- Stringent regulatory requirements: The manufacturing and sale of surgical stitching products are subject to stringent regulatory requirements. This can delay the introduction of new products and increase the cost of doing business.
- Side effects of surgical stitching products: Surgical stitching products can cause side effects, such as infection, inflammation, and allergic reactions. This can limit their adoption.
Opportunities and Recommendations
- Growing demand from emerging markets: The demand for surgical stitching products is growing in emerging markets due to the increasing number of surgical procedures performed in these markets.
- Development of new and innovative products: The development of new and innovative surgical stitching products can offer opportunities for growth in the market.
- Expansion into new markets: The expansion into new markets, such as veterinary medicine, can offer opportunities for growth in the market.
The following recommendations can be made for companies operating in the Surgical Stitching Products Market:
- Focus on developing new and innovative products: Companies should focus on developing new and innovative surgical stitching products that offer better performance and safety.
- Expand into new markets: Companies should expand into new markets, such as veterinary medicine, to increase their market share.
- Reduce the cost of surgical stitching products: Companies should reduce the cost of surgical stitching products to make them more affordable for people in low- and middle-income countries.
- Comply with regulatory requirements: Companies should comply with the stringent regulatory requirements for the manufacturing and sale of surgical stitching products.
Top Players in the Global Surgical Stitching Products Market
- Sutures India Pvt. Ltd.
- Internacional Farmacéutica.
- Péters Surgical
- Integra LifeSciences
- Medtronic
- Smith & Nephew
- Ethicon
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Top Report Findings
- Based on application, the market is segmented into general surgery, cardiovascular surgery, ophthalmic surgery, orthopedic surgery, and others. The general surgery segment is expected to account for the largest share of the market during the forecast period. This is attributed to the increasing number of general surgeries performed worldwide.
- Based on material, the market is segmented into natural sutures, synthetic sutures, and absorbable sutures. The natural sutures segment is expected to account for the largest share of the market during the forecast period. This is attributed to the increasing preference for natural sutures over synthetic sutures due to their biocompatibility and biodegradability.
- Based on end-user, the market is segmented into hospitals, clinics, ambulatory surgical centers, and others. The hospitals segment is expected to account for the largest share of the market during the forecast period. This is attributed to the increasing number of hospitals worldwide and the increasing number of surgical procedures performed in hospitals.
- Based on region, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to account for the largest share of the market during the forecast period. This is attributed to the increasing number of surgical procedures performed in North America, the rising prevalence of chronic diseases, and the growing demand for minimally invasive surgeries.
Top Trends in Global Surgical Stitching Products Market
- Increasing demand for minimally invasive surgeries – Minimally invasive surgeries are becoming increasingly popular due to their advantages over traditional surgeries, such as less pain, shorter recovery time, and smaller scars. This is driving the demand for surgical stitching products that are used in minimally invasive surgeries.
- Technological advancements – Technological advancements in surgical stitching products are leading to the development of new and innovative products that are more effective and safer. For example, the development of absorbable sutures has reduced the need for suture removal and the risk of infection.
- Rising prevalence of chronic diseases – The prevalence of chronic diseases, such as cardiovascular diseases, cancer, and diabetes, is increasing worldwide. These diseases require surgical intervention for treatment, which is driving the demand for surgical stitching products.
- Growing demand from emerging markets – The demand for surgical stitching products is growing in emerging markets due to the increasing number of surgical procedures performed in these markets. This is attributed to the rising disposable income, increasing awareness about healthcare, and improving healthcare infrastructure in emerging markets.
- Expansion into new markets – The expansion into new markets, such as veterinary medicine, can offer opportunities for growth in the market. For example, the use of surgical stitching products in veterinary medicine is growing due to the increasing number of pet owners and the rising awareness about pet healthcare.
- Focus on developing new and innovative products – Companies should focus on developing new and innovative surgical stitching products that offer better performance and safety. For example, companies are developing sutures that are made from biodegradable materials that can be absorbed by the body, which reduces the need for suture removal.
- Expand into new markets – Companies should expand into new markets, such as veterinary medicine, to increase their market share. For example, the use of surgical stitching products in veterinary medicine is growing due to the increasing number of pet owners and the rising awareness about pet healthcare.
- Reduce the cost of surgical stitching products – Companies should reduce the cost of surgical stitching products to make them more affordable for people in low- and middle-income countries. For example, companies are developing sutures that are made from less expensive materials, such as nylon and polyester.
- Comply with regulatory requirements – Companies should comply with the stringent regulatory requirements for the manufacturing and sale of surgical stitching products. For example, the US Food and Drug Administration (FDA) regulates the manufacturing and sale of surgical stitching products in the United States.
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Recent Developments in the Global Surgical Stitching Products Market
- In January 2021, Ethicon (a subsidiary of Johnson & Johnson) launched the PROXI™ Knotless Tissue Control Device in the United States. The PROXI™ device is a single-use, needle-free device that uses a proprietary technology to deliver a controlled, atraumatic tissue bite.
- In February 2021, B. Braun Melsungen AG announced the launch of the INTRALOCK™ Suture System in the United States. The INTRALOCK™ system is a barbed suture system that is designed to provide secure hemostasis and tissue approximation.
- In March 2021, Covidien (a subsidiary of Medtronic) announced the launch of the MONOCRYL™ Plus Suture in the United States. The MONOCRYL™ Plus suture is a monofilament, absorbable suture that is designed to provide long-term tensile strength and tissue ingrowth.
The Global Surgical Stitching Products Market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
- North America is expected to account for the largest share of the market during the forecast period. This is attributed to the increasing number of surgical procedures performed in North America, the rising prevalence of chronic diseases, and the growing demand for minimally invasive surgeries.
- Europe is expected to be the second-largest market for surgical stitching products during the forecast period. This is attributed to the increasing healthcare expenditure in Europe, the rising prevalence of chronic diseases, and the growing demand for minimally invasive surgeries.
- Asia Pacific is expected to be the fastest-growing market for surgical stitching products during the forecast period. This is attributed to the increasing population in Asia Pacific, the rising disposable income, and the improving healthcare infrastructure in the region.
- The Rest of the World is expected to be a relatively small market for surgical stitching products during the forecast period. However, the market is expected to grow at a higher CAGR than the other regions due to the increasing healthcare expenditure in the region and the rising demand for minimally invasive surgeries.
Segmentation of the Global Surgical Stitching Products Market
By Product Type
The Surgical Stitching Products Market can be segmented into automated suturing devices and sutures. Automated suturing devices are used to close wounds by automatically applying sutures. Sutures are used to close wounds by manually tying knots.
The automated suturing devices segment is expected to grow at a higher CAGR during the forecast period. This is attributed to the increasing demand for minimally invasive surgeries, which require the use of automated suturing devices.
By Material
The Surgical Stitching Products Market can be segmented into monofilament and multifilament sutures. Monofilament sutures are made from a single strand of material, while multifilament sutures are made from multiple strands of material.
The monofilament sutures segment is expected to grow at a higher CAGR during the forecast period. This is attributed to the increasing preference for monofilament sutures over multifilament sutures due to their better performance and safety.
By Application
The Surgical Stitching Products Market can be segmented into cardiovascular surgeries, general surgeries, gynecological surgeries, orthopedic surgeries, ophthalmic surgeries, and other surgeries. Cardiovascular surgeries are the most common type of surgery, followed by general surgeries.
The cardiovascular surgeries segment is expected to grow at a higher CAGR during the forecast period. This is attributed to the increasing prevalence of cardiovascular diseases, such as heart attack and stroke.
By End User
The Surgical Stitching Products Market can be segmented into hospitals, clinics, ambulatory surgical centers, and others. Hospitals are the largest end user of surgical stitching products, followed by clinics and ambulatory surgical centers.
The hospitals segment is expected to grow at a higher CAGR during the forecast period. This is attributed to the increasing number of surgical procedures performed in hospitals.
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 3.82 Billion |
| Revenue Forecast by 2028 | USD 6.13 Billion |
| CAGR | 6.1% from 2022 to 2028 |
| Base Year | 2022 |
| Forecast Year | 2022 to 2028 |
| Key Players | Sutures India Pvt. Ltd., Internacional Farmacéutica., Péters Surgical, Integra LifeSciences, Medtronic, Smith & Nephew, Ethicon. |
| Customization Request | If our report does not include the information you are searching for, you may contact us to have a report tailored to your specific business needs https://www.vantagemarketresearch.com/surgical-stitching-products-market-0526/request-sample |
Key Questions Answered in the Surgical Stitching Products Market Report are:
- What is the size of the Global Surgical Stitching Products Market?
- What are the factors driving the growth of the Global Surgical Stitching Products Market?
- What are the challenges to the growth of the Global Surgical Stitching Products Market?
- Who are the key players in the Global Surgical Stitching Products Market?
- What are the strategies adopted by the key players in the Global Surgical Stitching Products Market?
- What are the latest trends in the Global Surgical Stitching Products Market?
- What are the opportunities and threats faced by the vendors in the Global Surgical Stitching Products Market?
- What are the trends and developments that are expected to influence the growth of the Global Surgical Stitching Products Market during the forecast period?
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