Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Automated Suturing Devices Market – Insights
An automated suturing device used in suturing procedures. Suturing is a process that holds body tissues together after an injury or surgery. These devices are used during minimally invasive surgery and open surgery. Reusable automated suturing devices are medical devices used to seal tissue after surgery or wound.
The global automated suturing devices market is estimated to account for US$ 867.3 Mn in terms of value and 9,007,400 Units in terms of volume by the end of 2027.
Global Automated Suturing Devices Market: Drivers
Increasing geriatric population is expected to boost growth of the global automated suturing devices market over the forecast period. For instance, according to the World Health Organization, the number of people aged 60 years and older will outnumber children younger than 5 years by 2020 and in 2050, 80% of older people will be living in low- and middle-income countries.
The adoption of bariatric surgeries has increased due to increasing prevalence obesity. Automated suturing devices are used in bariatric surgeries and gastrointestinal surgeries. Therefore, increasing prevalence obesity is expected to propel growth of the market over the forecast period. For instance, prevalence of overweight, obesity, hypertension, and diabetes were 14.6%, 3.4%, 5.2%, and 7.1%, respectively, in India, according to a study published in October 2019 in The International Journal of Environmental Research and Public Health.
North America region held dominant position in the global automated suturing devices market in 2018, accounting for 35.1% share in terms of value, followed by Asia Pacific. Increasing accidents and surgeries expected to fuel the growth of market during the forecast period.
Figure 1. Global Automated Suturing Devices Market Value (US$ Mn), by Region, 2018
Global Automated Suturing Devices Market: Restraints
However, low product availability is expected to hinder growth of the global automated suturing devices market. The stocks of automated suturing devices are limited on online channels. Covidien has listed its products – Endo Stitch and Sils Stitch – on E-bay. However, the stocks are rapidly exhausted.
Use of automated suturing devices requires appropriate training. Therefore, lack of skilled professionals is also expected to hamper the market growth.
Disposable automated suturing devices segment in the global automated suturing devices market was valued at US$ 430.9 Mn in 2018 and is expected to reach US$ 703.2 Mn by 2027 at a CAGR of 5.6% during the forecast period.
Market Trends/Key Takeaways
Increasing use of automated suturing devices in laparoscopic surgeries is a major trend in the global automated suturing devices market. Automated suturing devices increase the dexterity and enable even a novice surgeon or gynecologists to build up surgical competence, which increases their use in laparoscopic hysterectomies, bariatric surgeries, colorectal, general surgery, and coronary heart surgeries. In laparoscopic surgery, automated suturing devices can be used to apply knots within a shorter time frame compared to conventional suturing.
Increasing preference for automated suturing devices over automated staplers is also expected to boost the market growth. This is owing to development of integrated needle and suture. Sutures used in such devices can be absorbable or non-absorbable, whereas staplers are metallic and may lead to bleeding and infection post-surgery.
Global Automated Suturing Devices Market: Competitive Landscape
Major players operating in the global automated suturing devices market include, Medtronic Plc., Boston Scientific, C. R. Bard, Inc., Apollo Endosurgery, EndoEvolution, LLC, LSI Solutions, Inc., Baxter International, Inc., and SuturTek Inc.
Key players in the market are focused on adopting M&A strategies to expand their product portfolio. For instance, in December 2019, Baxter International, Inc. entered into a definitive agreement to acquire Seprafilm Adhesion Barrier and related assets from Sanofi.
Key players in the market are also focused on adopting marketing strategies to enhance their market share. For instance, Apollo Endosurgery, Inc. announced that company management will present at the 12th Annual LD Micro Main Event investor conference.