Surgical Suture Market

Ethicon, Inc. (US), Medtronic (Ireland) and B. Braun Melsungen AG (Germany) are leading players in Surgical Sutures Market

The surgical sutures market is projected to reach USD 5.02 billion by 2023 from USD 3.86 billion by 2018, at a CAGR of 5.4% during the forecast period. The global market for surgical sutures is witnessing steady growth primarily due to the increasing number of surgical procedures conducted, globally. The favorable reimbursement scenario for a number of surgical procedures and the launch of advanced sutures are further contributing to the market growth.

Mergers and acquisitions were the key growth strategies adopted by players in the surgical sutures market between 2015 and 2018. Prominent players offering surgical sutures are Ethicon Inc. (US), B. Braun Melsungen AG (Germany), DemeTECH Corporation (US), Medtronic (Ireland), Internacional Farmaceutica, S.A. De C.V. (Mexico), Sutures India Pvt. Ltd., Péters Surgical (France), Smith & Nephew plc (UK), EndoEvolution, LLC (US), and Boston Scientific Corporation (US).

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Ethicon, Inc. (US) is the leading player in the surgical sutures market. With its large product portfolio and wide geographic presence, the company has managed to create its identity in the market. The company’s product portfolio includes absorbable sutures, non-absorbable sutures, antibacterial coated plus series sutures, knotless tissue control devices, and automated suturing devices. Ethicon focuses on both organic and inorganic growth strategies, such as product launches, collaborations, and acquisitions & mergers to maintain its leading position in the market. Additionally, it focuses on R&D to develop advanced products. For instance, in August 2016, Ethicon launched its STRATAFIX spiral PDS plus and STRATAFIX spiral monocryl plus knotless tissue control devices in the US. Furthermore, in August 2017, the company also launched an automated suturing device—PROXISURE. In 2017, the company also collaborated with DePuy Synthes to introduce customized wound closure kits for use in orthopedic surgeries.

Medtronic (Ireland) held the second position in the global surgical sutures market. The company’s leading position can be attributed to its vast portfolio of absorbable sutures, non-absorbable sutures, barbed sutures, and automated suturing devices. The company focuses on inorganic growth strategies to achieve growth. For instance, in January 2015, Medtronic acquired Covidien plc. This acquisition brought together the extensive and innovative capabilities of both Medtronic and Covidien to solve healthcares biggest challenges. Also, in May 2016, the company opened a new facility in Singapore to strengthen and support its operations across 80 locations in the Asia Pacific region.

B. Braun Melsungen AG (Germany) held the third position in the global surgical sutures market. The company’s strong position can be attributed to its product portfolio and brand identity in the surgical sutures market. The company offers surgical sutures under its Aesculap Division. The sutures offered by the company include absorbable sutures and non-absorbable sutures. The company focuses on expansions to achieve market growth. For instance, in November 2017, B. Braun Medical opened a new subsidiary—B. Braun Medical Zambia to expand its product portfolio in the African market and enhance its sales and revenues.

Related Reports:

Surgical Suture Market by Product (Automated Suturing Device (Disposable, Reuse), Suture Thread (Natural, Nylon, Prolene, Stainless Steel, Silk)), Application (Cardiac, Gynae, Ophthalmic, Orthopedic), End User (Hospital, Clinic) - Global Forecast to 2023

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Report Code
MD 5177
Published ON
Oct, 2018
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