Absorbable Surgical Sutures Market Analysis | 2023-2028

Market Insights

The absorbable surgical sutures market was estimated at USD 3.75 billion in 2022 and is likely to grow at a CAGR of 5.04% during 2023-2028 to reach USD 5.03 billion in 2028.

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Market Dynamics

Introduction

Absorbable surgical sutures are stitches made of materials that the body can absorb naturally over time. They're made of materials like the fibers that line animal intestines or synthetic polymers that dissolve easily in the body.

Market Drivers

Over the years, there has been a growth in health conditions related to skin and peripheral vascular surgery, which has boosted the growth of the market for absorbable surgical sutures. Furthermore, the growing elderly population and increasing prevalence of musculoskeletal diseases are expected to have a significant impact on the market demand, thus fueling the growth of the market over the forecast period.

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Key Players

Some of the key players in the market are:

• 3M Healthcare
• B. Braun Melsungen AG
• Boston Scientific Corporation
• DemeTECH Corporation
• EndoEvolution, LLC
• Ethicon Inc.
• Johnson & Johnson Private Limited
• Medtronic Plc
• Smith & Nephew Plc
• Sutures India Pvt. Ltd.

Note: The above list does not necessarily include all the top players in the market.

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Segments Analysis

By Structure Type

Based on the structure type, the market is segmented into monofilament sutures and multifilament sutures. The multifilament sutures segment is likely to grow at an exponential CAGR during the forecast period, largely owing to the increasing demand for complex surgeries, the rising geriatric population, and favorable hospital treatment policies.

By End-User Type

Based on the end-user type, the market is segmented into hospitals, clinics, ambulatory surgery centers, and others. The hospital segment is expected to lead the market over the forecast period. The segment's growth is owing to the increasing number of complex surgeries performed in hospitals, an increase in the geriatric population, favorable reimbursement policies for treatments in hospitals, and the growing number of new hospitals, particularly in emerging economies.

Regional Insights

In terms of regions, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Among these regions, North America is expected to be the dominant region throughout the forecast period. The market growth in this region is majorly due to advanced medical technologies, a growing healthcare sector, and favorable government policies for various surgical procedures. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects absorbable surgical sutures market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering 12 years of trends and forecasts. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The absorbable surgical sutures market is segmented into the following categories.

By Product Type

• Synthetic Sutures
• Natural Sutures

By Application Type

• General Surgery
• Cardiovascular Surgeries
• Gynecological Surgeries
• Orthopedic Surgeries
• Others

By Structure Type

• Monofilament Sutures
• Multifilament Sutures

By End-User Type

• Hospitals
• Clinics
• Ambulatory Surgery Centers
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation by any one of the product types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].