Automated Suturing Device Market worth over $950mn by 2027
Published Date: September 28, 2021 Authors: Sumant Ugalmugale, Rupali Swain
Automated Suturing Device Market size is set to surpass USD 950 million by 2027, according to a new research report by Global Market Insights Inc.
Growing number of accidents and trauma cases worldwide will impel the usage of automated suturing devices in the coming years. According to the WHO, around 1.3 million people die each year due to road traffic crashes. For each road accident-related death, there are few other persons who sustain non-fatal injuries that requires surgical intervention.
High acceptance rate of minimally invasive procedures in treatment of several diseases will stimulate the market growth. The automatic suturing devices provide greater tensile strength and have less risk of injuring the cutaneous circulation. This advantage thereby enables high application in wound care treatment.
Increasing safety concerns during procedures will offer significant growth opportunities
Disposable segment in the automated suturing device market is projected to witness 6.2% growth rate through 2027. The high adoption rate of these automated sutures are primarily owing to its advantage such as elimination of risk of infection. Moreover, growing research to develop advanced disposable devices will pave the way for the segment expansion.
Growing number of minimally invasive surgeries with increasing patient pool will boost the industry growth
Minimally invasive surgery segment accounted for more than USD 200 million in 2020 led by the increasing development of several automated suturing devices in order to improve minimally invasive surgeries. Additionally, several advantages associated with automated suturing in minimally invasive surgeries including speedy recovery will accelerate the segment progression in the forecast period.
Browse key industry insights spread across 150 pages with 179 market data tables & 15 figures & charts from the report, “Automated Suturing Device Market Size, By Type (Reusable, Disposable), By Application (Open Heart Surgery, Minimally Invasive surgery, Trauma Cases), By End-use (Hospitals, Ambulatory Surgical Centers, Clinics), COVID-19 Impact Analysisr, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Infrastructure development to address emergency visits will propel the market expansion
Ambulatory surgery centers segment is expected to expand at a CAGR of 6.3% till 2027. Increasing number of outpatient procedures coupled with shorter hospital stay will drive the market value.
Increasing treatment accessibility with developing infrastructure will create the growth opportunities for the European region
Europe automated suturing device market captured over 27% of revenue share in 2020 on account of the growing cosmetic surgeries. Rising preference for minimally invasive, and non-invasive surgeries, and expanding geriatric population pool are few of the factors contributing to the regional growth. In addition, increasing treatment accessibility with developing healthcare infrastructure and increased healthcare spending will fuel the regional expansion.
New product developments and launches by players will fortify their market footprint
Prominent companies operating in the market include Medtronic, Smith & Nephew, Inc, Apollo Endosurgery, Inc, B. Braun Melsungen AG, Ethicon, Inc. (Johnson & Johnson), Becton, Dickinson and Company. These industry leaders have undertaken numerous strategic initiatives such as collaborations, acquisitions, and new product launches to gain a competitive edge in the market. For instance, in December 2019, Apollo Endosurgery, Inc. received FDA approval for its Polypropylene Suture-Anchor Assembly to use with Stitch Endoscopic Suturing Systems. Hence, such developments are poised to strengthen the business growth.