The sutures market is estimated to be valued at USD 4.26 billion in 2024, growing at a CAGR of 8.3% over the forecast period (2024 – 2031). The growing number of surgeries globally as a result of increasing incidences of diseases and accidents is propelling the sutures market growth. Furthermore, the growing preference towards minimal invasive surgeries is also leading to the higher adoption of sutures.
Market Dynamics:
The growth of the sutures market is predominantly driven by the increasing number of surgeries being performed across major markets such as North America and Asia Pacific. Rising disease prevalence of cardiovascular, gastrointestinal, and skin cancers has resulted in a greater number of surgical procedures being performed each year. According to the American Cancer Society, approximately 1.9 million new cancer cases were diagnosed in 2023, which boosted the demand for sutures. Moreover, the increasing rates of accidents and trauma cases are necessitating repair and reconstruction surgeries, thus boosting the uptake of sutures. Advanced suturing products with self-holding and knotless capabilities providing procedural benefits are gaining rise in popularity, thus offering potential growth opportunities to market players. However, the availability of alternative wound closure products, such as hemostats, adhesives, and sealants, may challenge the sutures market growth to some extent over the forecast period.
Increased surgical procedures and wound closure applications is driving the sutures market growth
The global sutures market is expected to witness significant growth over the forecast period owing to the rising number of surgical procedures performed worldwide. According to the American Society of Plastic Surgeons, around 17.5 million surgical and minimally-invasive cosmetic procedures were performed in the U.S. in 2020. The growing prevalence of lifestyle diseases, such as obesity, cardiovascular diseases, and others, have increased the number of surgical interventions required for treatment. Sutures are an integral part of any surgical procedure for wound closure purposes. Thus, the increasing surgical volume directly translates to a higher demand for sutures.
Stringent regulatory framework increases compliance costs for market players
Sutures being medical devices used inside the human body are strictly regulated by authorities like the U.S. Food and Drug Administration in the U.S. and other international regulatory bodies. Players in the sutures market need to adhere to rigorous quality standards and compliance norms throughout the product development and manufacturing process. This increases costs related to R&D, clinical trials, certifications, and compliance for companies. Furthermore, any change made to approved suture products require re-filing and clearances which extends the time-to-market for innovated solutions. Stringent regulations also discourage the entry of new regional or local players in the sutures market due to high entry barriers. This consolidates the competitive landscape and reduces price competition to an extent. The regulatory compliance costs hinder profit margins and return on investment capacities of sutures market participants to some level.
Reimbursement policies affect product adoption in different regions
Variations in public and private healthcare reimbursement policies across countries and regions impacts suture product uptake. In developed markets of Europe and the U.S., favorable reimbursement for hernia repairs, bariatric, plastic, and various other surgical procedures enable higher utilization of premium absorbable and coated suture varieties. However, in price-sensitive developing Asian, Latin American, and African markets, non-absorbable and conventional sutures are more commonly used given their low costs. Differences in affordability also influence the acceptance of advanced suturing technologies. Stricter healthcare budgets in certain regions prompt the increased use of cheaper treatment alternatives or delay surgical interventions. This hinders the consistent adoption of advanced but costly suturing solutions meant for specialized clinical use. Regional reimbursement trends shape the types of suture products seeing maximum demand by each geography.
Advent of minimally-invasive surgeries opens new opportunities
The rapid evolution of minimally invasive surgical techniques such as laparoscopic and robotic surgeries has opened attractive opportunities for suture manufacturers. Minimally invasive procedures require specialized suturing products suitable for internal knotting and suturing through small incisions. This includes sutures configured as clips, rings or mesh and also barbed, fast-absorbing and knotless variants. Companies innovating such minimally invasive suturing solutions stand to gain from the widespread adoption of Minimally Invasive Surgery (MIS) techniques. Furthermore, opportunities exist in developing absorbable sutures based on novel biodegradable polymer technologies. Absorbable sutures eliminate the need for removal post healing and enable improved wound management. They are preferred in sensitive internal procedures and cosmetic surgeries. Innovation in advanced polymer composition can further enhance the applicability of absorbable sutures.
Availability of alternatives restrains full market potential
Adhesives, clips & staples offer viable alternatives to conventional sutures for certain wound closure applications. While sutures continue to dominate internal applications, adhesion techniques gain ground in non-core areas such as skin closure. Adhesives provide benefits of being faster to apply and avoid chances of breakage unlike stitches.cAlso, automated wound closure devices have emerged as substitutes for hand-suturing especially in high-volume surgical specialties. Such competing modalities eat into potential revenues of sutures to an extent by addressing select clinical needs. This availability of attractive alternatives acts as a limiting factor for the sutures market.
Link: https://www.coherentmarketinsights.com/market-insight/sutures-market-5039
Key Development
- On September 12, 2023, Genesis Medtech, a medical device company, announced that the company had received approval from China's National Medical Products Administration (NMPA) for its antibacterial sutures. This authorization grants the company the opportunity to promptly introduce absorbable sutures imbued with antibacterial protection in China. These sutures feature a coating infused with a triclosan antimicrobial agent, known for its efficacy against both gram-positive and gram-negative bacteria.
- In December 2022, Stryker, a prominent medical technology company, has unveiled the introduction of Citrefix, a suture anchor system tailored for foot and ankle surgical interventions. This innovative system incorporates Citregen, a bioresorbable material meticulously engineered to replicate the chemistry and structure of natural bone. Citrefix presents as a disposable suture anchor system, comprising a resorbable biomimetic anchor body, facilitating optimal surgical outcomes in foot and ankle procedures.
- In April 2021, Dolphin Sutures, an India-based manufacturer specializing in surgical sutures, has revealed the debut of non-absorbable polytetrafluoroethylene sutures, marking a pioneering introduction in India and bolstering its dental product range. Polytetrafluoroethylene, a fluoropolymer derived from tetrafluoroethylene, possesses exceptional strength, biologically inert properties, and excellent knotting characteristics.
- In December 2021, Healthium Medtech Limited, a provider of surgical support products, has unveiled a partnership with DKSH Business Unit Healthcare, a prominent partner for healthcare firms in the Asia Pacific region. This collaboration represents an expansion of their existing partnership to include Thailand, Cambodia, and Laos. DKSH will assume responsibility for full-service representation, distribution management, and marketing of Healthium Medtech Limited's surgical product line in these territories.
Key Players: Medtronic Plc, Johnson & Johnson, SMI, Advanced Medical Solutions Group plc, GMD Group (General Medical Disposable), Bentley Healthcare Pvt. Ltd., Lotus Surgicals, Teleflex Incorporated, Sutumed, Lux Sutures, CliniSut, Smith & Nephew Plc, B. Braun Melsungen AG, CONMED Corporation, Unilene, Riverpoint Medical, Unisur Lifecare Pvt. Ltd., Orion Sutures India Pvt Ltd, Dolphin Sutures, Peters Surgical, Meril Life Sciences Pvt. Ltd., and Corza Medical
