It is predicted that the Automated Suturing Devices Market will generate US$ 3.02 billion in 2022 and US$ 6.2 billion by 2032. The market for automated suturing devices is anticipated to grow at a CAGR of 7.46% between 2022 and 2032. The increase of the market can be ascribed to the rise in chronic disease prevalence and the preference for minimally invasive surgeries (MIS) over traditional surgical techniques.
ESOMAR-certified consulting firm Future Market Insight (FMI) presents incisive global automated suturing devices market survey for the forecast period of 2021-2031. According to the report, the market is expected to expand, rising at a CAGR of 7.3 % during the forecast period.
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Surgical suture devices find application in laparoscopy, orthopedic surgery, cardiovascular surgery, gynecology, orthopedic, and ophthalmology as they are majorly used for treating wounds and injuries.
Rising cases of surgeries due to increasing accidents and trauma cases are boosting demand for automated suturing devices in the global market. According to the Ministry of Road Transport and Highways, India, in 2018, the nation was leading in road accident deaths followed by United States and China.
According to the World Health Organization’s (WHO’s), Global Report on Road Safety 2018, India accounted for 11% accident related deaths in the world. A total of 4,67,044 road accidents, 51,417 deaths, and 4,69,418 injuries. The rise in number of accidents and the increasing need for surgeries will propel the need for automated suturing devices, thereby augmenting the growth of the market.
Automated suturing devices are preferred over conventional suturing as they aid in delivering better wound healing and lowers post-surgery duration of hospital stay. That’s why it is extensively used for open and minimally invasive surgeries.
Key Takeaways from FMI’s Automated Suturing Devices Market Study
- The automated suturing devices market in the U.S. will witness positive growth owing to rising prevalence of cardiovascular diseases and requirement for invasive procedures in the country.
- France will find lucrative opportunities during the forecast period as according to the Organization of Economic Cooperation and Development, approximately 148075 minimal invasive surgeries took place in France in 2018. The country also has presence of several manufacturers such as Guerbet, Sanofi, and others.
- Disposable automated suturing devices are expected to lead the product segment as they are cost-effective. Rising demand for laparoscopy and minimally invasive procedures are also encouraging demand for the same.
- Hospitals will exhibit high demand for automated suturing devices since they receive a higher footfall of patients on a daily basis.
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“Several leading players are aiming for clearance from the United States Food and Drug Administration to launch advanced automated suturing devices. With focus on technological improvements on cards, the market is expected to gain momentum in the coming years,” says a FMI analyst.
Who is Winning?
Key players in the global automated suturing devices market are focusing on adopting inorganic strategies such as alliance, collaboration, partnerships, and merger and acquisitions to strengthen their position in the supply chain channels.
They are also emphasizing on launching new products and expanding their product portfolio. Key players operating in the global automated suturing devices market are Medtronic Plc., Boston Scientific, C. R. Bard, Inc., Apollo Endosurgery, EndoEvolution, LLC, LSI Solutions, Inc., and SuturTek Inc.
On March 3rd 2020, Origami Surgical launched StitchKit, a patented suture delivery and retrieval system. The U.S. Food and Drug Administration (FDA) approved 510k clearance for three novel types of sutures for the company’s StitchKit robotic surgery platform.
On November 2020, Healthium Medtech, one of India’s largest medical devices company, launched Trubarb, its latest innovation. This innovation is a knotless tissue closure device that reforms the suturing experience.
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On June 1st 2021, Anchora Medical, a Alon Medtech Venture’s company, announced closing of $4.5million financing led by HOYA Corporation and Tal Capital. The funds will be utilized for completing Anchora’s single use laparoscopic suturing devices.
Key Segments:
Product
- Reusable Automated Suturing Devices
- Disposable Automated Suturing Devices
Applications
- Minimally Invasive Surgeries
- Open Surgeries
- Trauma Cases
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End Use
- Hospitals
- Clinics
- Ambulatory Surgical Centers
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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