The absorbable and non-absorbable suture market is set to proliferate due to multiple factors. The rising incidence of chronic disorders, advancements in healthcare technologies, and robust research and development capabilities will drive market expansion. The increasing number of road accidents globally will also create a heightened demand for sutures. Moreover, countries like India and South Korea, experiencing a surge in medical tourism, will contribute to the market's growth rate.
According to Data Bridge Market Research, the Absorbable and Non-Absorbable Sutures Market accounted USD 3.6 billion in 2022, and is expected to reach USD 5.74 billion by 2030, at a CAGR of 6% during the forecast period 2023 to 2030.
“Growing number of road accidents”
Road traffic accidents have devastating consequences, causing numerous fatalities and injuries globally. The severity of wounds and injuries sustained in these accidents often necessitates using non-absorbable surgical sutures for effective wound closure. Given the staggering number of accidents and resulting injuries each year, there is an anticipated surge in the demand for sutures. This increased demand underscores the critical role sutures play in providing timely and appropriate medical care, ensuring proper wound closure, and facilitating the healing process in accident-related cases.
What restraints the growth of the absorbable and non-absorbable sutures market?
“High cost and maintenance”
The high cost and maintenance expenses of absorbable and non-absorbable sutures pose a significant barrier to market growth. The costs associated with these sutures deter healthcare providers from adopting them, impacting market expansion. Manufacturers also face pricing pressures due to the competitive landscape and increased availability of alternative wound closure materials. The high-cost factor limits the market's growth potential and adoption rates among healthcare facilities.
Segmentation: Absorbable and Non-Absorbable Sutures Market
The absorbable and non-absorbable sutures market is segmented on the basis of product type, surgery type and end users.
- On the basis of product type, the absorbable and non-absorbable sutures market is segmented into Automated Suturing Devices, Sutures.
- On the basis of surgery type, the absorbable and non-absorbable sutures market is segmented into cardiovascular, orthopedic, gynecology, opthalmology, general surgery, others.
- On the basis of end users, the absorbable and non-absorbable sutures market is segmented into hospitals, ambulatory centers, clinics, community healthcare, others.
Regional Insights: North America Dominates the Absorbable and Non-Absorbable Sutures Market
North America's dominance in the absorbable and non-absorbable sutures market can be attributed to its robust healthcare infrastructure, supported by substantial government investments. The region's focus on improving healthcare facilities and promoting advanced surgical procedures contributes to the market's growth.
The Asia-Pacific region is experiencing rapid growth due to the increasing demand for minimally invasive surgeries and advancements in medical technology. The rising prevalence of chronic disorders and trauma surgeries further drives the adoption of sutures in this region, fostering market expansion.
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The Prominent Key Players Operating in the Absorbable and Non-Absorbable Sutures Market Include:
- Thermo Fisher Scientific Inc. (U.S.)
- Siemens Healthcare GmbH (Germany)
- Seegene Inc (South Korea)
- FastSense Diagnostics (India)
- Curetis (Germany)
- SolGent Co., Ltd (South Korea)
- Mologic (U.S.)
- Abbott (U.S.)
- altona Diagnostics GmbH (India)
- F. Hoffmann-La Roche Ltd (Switzerland)
- QIAGEN (Germany)
- BioMaxima (France)
- CTK Biotech, Inc (U.S.)
- VivaChek Biotech (Hangzhou) Co., Ltd. (India)
- Sensing Self, PTE. Ltd (Singapore)
- Hangzhou Biotest Biotech Co., Ltd. (China)
- B. Braun SE (Germany)
- Smith+Nephew (U.K.)
- Integra LifeSciences Corporation (U.S.)
- Boston Scientific Corporation (U.S.)
- Medtronic (Ireland)
- Surgical Specialties Corporation (U.S.)
- Zimmer Biomet (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of absorbable and non-absorbable sutures market companies contact, https://www.databridgemarketresearch.com/ko/contact
Research Methodology: Global Absorbable and Non-Absorbable Sutures Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
