Sutures are sterile surgical threads that are used to close wounds or join tissues together. Sutures are commonly used for skin closures, minor lacerations, and surgical incisions. There are various types of sutures available in the market which includes absorbable and non-absorbable sutures. Absorbable sutures are made up of materials that dissolve gradually in the body after a certain period of time. On the other hand, non-absorbable sutures are made from materials that do not dissolve in the body and need to be removed after a specific time period. Sutures are widely used in procedures related to orthopedics, gynecology, cardiology, gastroenterology, and others. Technological advancements have enhanced the capability of sutures for wound closure precision.

The global Sutures Market is estimated to be valued at Us$ 3994.65 Mn in 2023 and is expected to exhibit a CAGR Of 9.2% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Improved wound closure techniques are expected to flourish the global Sutures Market over the forecast period. The introduction of advanced suturing techniqes such as barbed sutures have enabled faster wound closure and healing compared to conventional sutures. Barbed sutures have tiny barbs along the length of suture thread which anchors the suture into the tissues and eliminates the need for knots. This reduces trauma to tissues and provides uniform distribution of tension at the wound site. Moreover, the ability to secure wound edges with ease has boosted adoption of barbed sutures among healthcare professionals globally. Barbed sutures also help reduce procedural time during wound closure as knots can be avoided. Such advancements in suturing techniques are estimated to propel market growth over the forecast period. Additionally, increasing number of surgeries worldwide will further generate high demand for wound closure surgical staples and sutures, augmenting market value.

Segment Analysis

The global sutures market is segmented based on product type, material type, application, end-user, and region. Based on product type, the market is segmented into absorbable and non-absorbable sutures. Absorbable sutures segment dominates the market and accounted for around 60% share in 2020 due to their growing use in internal surgery. These sutures get absorbed into the body after healing and do not require removal, which reduces post-surgery complications.

PEST Analysis

Political: The regulations around the use and manufacturing of sutures are stringent. However, favorable government policies supporting healthcare infrastructure development will boost the market growth.

Economic: Rising healthcare spending coupled with increasing surgical procedures being performed drives the demand for sutures. The growing economies offer lucrative opportunities.

Social: Growing aging population suffering from chronic diseases and lifestyle disorders necessitating surgical interventions increases the sutures usage.

Technological: Advancements in sutures material and delivery systems are simplifying surgical procedures. Self-locking sutures and barbed sutures reduce surgery time. Absorbable sutures eliminate need for removal.

Key Takeaways

The global Sutures Market Demand is expected to witness high growth over the forecast period.

North America dominates the market currently due to the increasing number of surgical procedures and developed healthcare infrastructure in the region. The rising healthcare spending and patient pool in Asia Pacific makes it the fastest growing regional market.

Key players operating in the sutures market are Carestream Health Inc., Siemens Healthineers AG, Shimadzu Corporations, MinXray, Koninklijke Philips NV, GE Healthcare, Canon Medical Systems, Envista Holdings Corporation, and FUJIFILM Holdings Corporation, among others. Absorbable sutures segment accounts for the major share due to extensive use in internal surgery procedures. Technological advancements are reducing surgery time and complications, fueling the market growth.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it