iCrowdNewswire   Nov 4, 202012:34 AM ET

Surgical Sutures and Staples Market:

WiseGuyReports.com adds “Global Surgical Sutures and Staples Market Research Report 2020 Analysis and Forecast 2030” reports to its database.

Executive Summary

The surgical sutures and staples market consists of sales of surgical sutures and staples and related services. Surgical sutures and staples are medical devices used by surgeons to hold skin, internal organs, blood vessels or any other tissues together after they have been severed during surgery. Sutures and staples hold incised body parts together until they are completely healed. These devices can either be absorbable or non-absorbable. An absorbable suture breaks down in tissue and degrades as a wound or incision heals, while a non-absorbable suture resists the body’s attempt to dissolve it. Non-absorbable sutures must be removed after a surface incision heals.

The global surgical sutures and staples market is expected to decline from $6.2 billion in 2019 to $5.6 billion in 2020 at a compound annual growth rate (CAGR) of -10%. The decline is mainly due to the COVID-19 outbreak and the measures to contain it. Several medical facilities in affected countries have been completely closed or have been only providing minimal treatment for emergency cases. This is because the global public health organizations have recommended the medical facilities to postpone elective procedures, surgeries, and non-urgent visits, and to prioritize urgent and emergency visits and procedures in order to protect staff and preserve personal protective equipment and patient care supplies. This has decreased the demand for surgical equipment. Also, the production of surgical equipment also slowed down due to extended lockdown and closure of factories manufacturing the equipment. The market is then expected to recover and grow at a CAGR of 6.1% from 2021 and reach $7.9 billion in 2023.

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North America was the largest region in the surgical sutures and staples market in 2018. The surgical sutures and staples market in Asia Pacific is forecasted to register the highest CAGR during 2018-2023.

The increase in number of surgical procedures across the globe is an important driver for the surgical sutures and staples market. This is mainly because surgeries are an important treatment procedure used to repair injury, relieve symptoms, restore function, remove diseased organs or replace anatomical parts of the body. Moreover, surgeries are also performed under emergency conditions such as trauma, fracture and acute infection. For instance, according to the US Department of Health & Human Services, there were 22 million surgeries performed in the US in 2014, out of which 52.7% were in outpatient surgeries.

An increasing adoption of minimally invasive surgeries is a major restraint for the surgical sutures and staples market. Minimally invasive surgery is a surgery technique to operate with less damage to the body than the open surgery technique. It also involves with less pain, a shorter hospital stay and fewer complications than an open surgery. This has led to an increasing adoption of these surgeries. For instance, according to a Canada-based market research firm iData Research, more than 693,000 robotic assisted procedures were performed in the USA, in 2017, out of which around 86% were minimally invasive surgeries.

The use of disposable surgical sutures and staple devices is an emerging trend in the surgical sutures and staples market. This is mainly due to heightened concerns regarding communicable infections associated with the use of reusable sutures and staple devices for surgeries. Disposable surgical sutures and staple devices are designed in such a way that they are discarded after one use and cannot be reused. In this regard, the Centers for Disease Control and Prevention (CDC) provides protocols to prevent spread of pathogens and promotes the use of disposable devices.

The FDA have classified surgical staplers as class I medical devices and implantable surgical staples as class II medical devices. Class I medical devices are those which do not require pre-marketing submissions to the FDA whereas Class II category requires pre-marketing submissions. Moreover, the FDA has also stated some measures and protocols for the sterilization of these devices that should be strictly followed to avoid the risk of infections. Hence, the regulatory scenario related to surgical staplers will keep a check on the companies that manufacture these devices.

In October 2018, Stryker acquired HyperBranch Medical Technology, Inc. for $220 million. The deal will help stryker improve its neurotechnology business. HyperBranch Medical Technology, Inc. is a medical devices company that develops and markets its products primarily for the traumatic and surgically induced wound market. It was founded in 2003 and is based in North Carolina, USA.

Major players in the market are Ethicon Endo-Surgery, Inc., Stryker Corporation, Smith & Nephew plc, Conmed Corporation, Medtronic plc.

Continuous…

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NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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