Surgical Suture Market Size, Share, Growth Analysis, By Product (Suture Threads, Automated Suturing Devices), By Type (Multifilament Sutures, Monofilament Sutures), By Application (Cardiovascular Surgery, General Surgery), By End User (Hospitals, Ambulatory Surgical Centers), By Region - Industry Forecast 2024-2031

Global Surgical Sutures Market size was valued at USD 3.5 billion in 2022 and is poised to grow from USD 3.73 billion in 2023 to USD 6.17 billion by 2031, growing at a CAGR of 6.50% during the forecast period (2024-2031).

The global market is experiencing significant expansion due to the increase in surgical operations. An estimated 313 million operations are conducted annually throughout the world, creating a huge demand for surgical sutures in various nations, which could be a growth driver. The rising elderly population is a key driving factor for the global market for surgical sutures. A 2019 study found that although people over 65 make up around 16 percent of the American population, they account for 40 percent of hospital surgery patients and potentially more than half of all surgical procedures. The majority of chronic physical ailments that require surgery to improve affect the elderly. Furthermore, this change in the makeup of the population also contributes to the rise in demand for surgical sutures. A rise in the number of cosmetic operations along with rising disposable income and technological breakthroughs such hybrid fractional lasers and cryolipolysis, which lead to safer operating procedures, are key factors driving the growth of the global surgical suture market. The number of cosmetic surgery procedures performed in 2019 increased by 7.4% compared to 2018.

The surgical suture has a number of substitutes, some of which could serve as market restrictions. The most popular substitute for suturing is undoubtedly wound staples. A wound staple has a number of clear advantages to suturing, including a faster rate of closure and a lower risk of infection. Using a tissue adhesive, also known as tissue glue, to close a child's wound is appealing since it is frequently quicker and less painful than suturing. These alternatives to suturing, which have certain benefits over sutures, could impede the expansion of this sector. Operating procedure statistics are incredibly asymmetrically distributed over the world. Only 6% of the yearly 313 million surgeries take place in the poorest countries, which house about 33% of the world's population. To close the gap in low and middle-income nations, an extra 143 million procedures are required. A substantial chance for a big number of people undergoing surgical procedures in the anticipated period is also presented by an increase in health insurance coverage, which subsequently covers healthcare attention in the form of surgical treatments. Many governments in emerging economies are working to expand insurance coverage so that many citizens have access to essential medical care. Over 500 million people, or 50% of the Indian population, will be covered by social healthcare programmes in 2019, while 60% of Indians would be covered by health insurance alone. These elements offer an increasing number of chances for the Suture market to expand in these economies.

US Surgical Suture Market is poised to grow at a sustainable CAGR for the next forecast year.