The global automated suturing devices market anticipates securing US$ 3.2 billion in 2023 and is anticipated to reach US$ 6.5 billion by 2033, registering a steady CAGR of 7.4% from 2023 to 2033, according to a recent market report.
This growth can be attributed to several key factors:
- Rising Prevalence of Chronic Diseases and Growing Preference for Minimally Invasive Surgeries (MIS): Chronic diseases like heart disease and obesity are becoming increasingly common, leading to a higher demand for surgical interventions. Automated suturing devices offer greater precision and efficiency compared to traditional suturing techniques, making them ideal for minimally invasive procedures.
- Expanding Applications in Various Surgical Fields: These devices find application in a wide range of surgical procedures, including orthopedics, gynecology, ophthalmology, and cardiovascular surgery, further propelling market growth.
- Increasing Geriatric Population and Growing Cases of Trauma: The rising geriatric population is more susceptible to age-related health conditions requiring surgery. Additionally, the growing number of trauma cases due to accidents and injuries is expected to fuel market demand.
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Market Growth Supported by Strategic Collaborations and New Product Launches:
The market is witnessing increasing collaborations and agreements between industry players, fostering innovation and expanding the product portfolio. Additionally, the launch of new and advanced devices, like those specifically designed for bariatric surgery, is expected to significantly contribute to market growth.
Challenges and Opportunities in the Automated Suturing Devices Market:
While the market outlook is promising, certain challenges persist, particularly in developing economies. These include:
- Limited Resources and Infrastructure: Lack of proper infrastructure and trained professionals in developing countries can hinder market expansion.
- High Device Costs: The high cost of these devices can pose an affordability challenge for some healthcare institutions.
However, the growing demand for efficient and precise surgical procedures, coupled with ongoing advancements in technology, is expected to create new opportunities and overcome these challenges in the coming years.
Key Takeaways from FMI’s Automated Suturing Devices Market Study:
- The global market is estimated to secure a CAGR of 7.4% with a valuation of US$ 6.5 billion by 2033.
- In the historical period, the global market secured a CAGR of 6.0% between 2018 and 2022.
- The United States is anticipated to dominate the global market by capturing a maximum share of 31.9% by 2033.
- With a share of 4.8%, Germany is significantly driving the global market during the forecast period.
- 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.
“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,” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
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Key Companies Profiled:
- Apollo Endosurgery
- Medtronic Plc.
- Boston Scientific Corporation
- C.R Bard Inc.
- EndoEvolution LLC
- LSI Solutions Inc.
- SuturTek Inc.
Automated Suturing Devices Market Segmentation:
By Product:
- Reusable
- Disposable
By Application:
- Minimally Invasive Surgeries
- Open Surgeries
- Trauma Cases
By End Use:
- Hospitals
- Clinics
- Ambulatory Surgical Centers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa (MEA)
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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