Ethicon, Inc. (US) and Medtronic plc (Ireland) are the Key Players in the Surgical Suture Market
The global surgical sutures market is projected to reach USD 4.9 billion by 2026 from USD 3.7 billion in 2021, at a CAGR of 6.0% from 2021 to 2026. The market for surgical sutures is witnessing steady growth primarily due to the increasing number of surgical procedures performed globally. The favorable reimbursement scenario for a number of surgical procedures and the launch of advanced sutures are further contributing to the growth of this market. However, the presence of alternative wound care management products and the growing preference for minimally invasive surgeries are some of the factors expected to limit the growth of this market to a certain extent.
In this report, the global surgical sutures market has been segmented on the basis of product, type, application, end user, and region
The prominent players in the surgical sutures market are B Ethicon, Inc. (US), Medtronic plc (Ireland), B. Braun Melsungen AG (Germany), Smith & Nephew plc (UK), Boston Scientific Corporation (US), Peters Surgical (France), DemeTECH Corporation (US), Internacional Farmacéutica (Mexico), Sutures India (India), EndoEvolution, LLC (US), Apollo Endosurgery, Inc. (US), Surgical Specialties Corporation (US), and Mellon Medical B.V. (Netherlands).
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Ethicon, Inc. (US) is the leading player in the surgical sutures market. The company’s broad portfolio of surgical suture products includes absorbable sutures, non-absorbable sutures, antibacterial coated plus series sutures, knotless tissue control devices, and automated suturing devices. The company adopts both organic and inorganic growth strategies such as product launches, collaborations, and acquisitions to maintain its leading position in the market. Ethicon is an innovation-centric company that focuses on research and development to develop technologically advanced products. For instance, in August 2017, the company launched an automated suturing device, PROXISURE, to expand its offerings in the wound closure segment and increase its customer base. The company also collaborated with DePuy Synthes in 2017 to introduce customized wound closure kits for use in orthopedic surgeries. This focus on product development is expected to enhance the company’s presence in the market during the forecast period.
Medtronic plc (Ireland) held the second position in the global surgical sutures market in 2019. 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 plc acquired Covidien. This acquisition helped bring together the extensive and innovative capabilities of both Medtronic and Covidien. It also opened a new facility in Singapore in 2016 to strengthen and support Medtronic’s operations across 80 locations in the Asia Pacific region. This development helped the company to enhance its presence in the high-growth APAC market.
B. Braun Melsungen AG (Germany) held the third position in the global surgical sutures market in 2019. The company’s strong position can be attributed to its product portfolio and positive brand image in the market. The company offers an exhaustive portfolio of 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 Limited, which helped expand the company’s presence in the African market, and enhanced its sales and revenues.
Related Reports:
Surgical Suture Market by Product (Automated Suturing Device (Disposable, Reuse), Suture Thread (Natural, Prolene, Stainless Steel, Antimicrobial)), Application (Cardiac, Gynae, Cosmetic, Ortho), End User (Hospital, ASC, Clinic) - Global Forecast to 2026
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