(MENAFN- GlobeNewsWire - Nasdaq) Wilmington, Delaware, United States, March 17, 2023 (GLOBE NEWSWIRE) -- According to Transparency Market Research,“The global cardiac sutures market size was valued at US$ 1.3 Bn in 2022, and the global industry is anticipated to exceed US$ 2.3 Bn by 2031. The global market share is estimated to expand at a CAGR of 6.8% between 2023 and 2031.”
Increase in number of cardiac operations, rise in incidence of cardiovascular disorders, and innovations in surgical procedures and suture materials are likely to drive the global cardiac sutures market. Rise in geriatric population along with increase in healthcare costs is projected to boost market development.
Additionally, increase in demand for safe and efficient surgical techniques to treat cardiovascular problems is anticipated to bolster market demand. Furthermore, emergence of minimally invasive surgical techniques that use smaller, more specialized sutures is expected to support industry growth. Major players are concentrating on R&D efforts to develop novel products, including cardiac surgery sutures, to expand their product lines. Nevertheless, high cost of cardiac procedures and increase in the number of alternative treatment solutions are estimated to impede market expansion.
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Cardiac Sutures Market Snapshot:
| Market Revenue | USD 1.3 Bn in 2022 |
| Estimated Value | USD 2.3 Bn by 2031 |
| Growth Rate - CAGR | 6.8% | |
| Forecast Period | 2023–2031 |
| No. of Pages | 150 Pages |
| Market Segmentation | By Product Type, Material, Type, and End-user |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America |
| Format | Electronic (PDF) + Excel |
Cardiac sutures refer to medical tools utilized in cardiac operations to repair incisions or wounds created in the heart or its surrounding tissues. They are intended to provide mechanical support and minimize the likelihood of complications such as infection or bleeding, by holding the tissue's edges in place whilst the body heals. Heart sutures are constructed of biocompatible substances such as polyester, nylon, or polypropylene. They are available in a range of sizes and forms to accommodate the particular requirements of each process.
Global Cardiac Sutures Market: Growth Drivers
Rise in prevalence of cardiovascular disorders across the globe is likely to boost the number of cardiac procedures conducted. According to published data, heart disorders continue to be a leading cause of mortality, which is expected to lead to an increase in demand for cardiac procedures during the forecast period. The treatment of severe forms of cardiac disease frequently requires open-heart surgery. Moreover, rise in ageing population is projected to increase the use of cardiac sutures. Thus, there is a clear correlation between the rise in global incidence of heart surgery and the demand for cardiac sutures.
Incidence of cardiovascular disorders, including atrial fibrillation, heart failure, and coronary artery disease, is rising, which is expected to drive the global cardiac sutures market. Globally, cardiovascular disease accounts for the majority of fatalities. Demand for cardiac procedures, such as valve replacement surgery, coronary artery bypass grafting, and open-heart surgery, has increased due to rise in the prevalence of these conditions. Rise in CVD cases is mostly attributable to lifestyle changes including inactivity, poor eating habits, misuse of alcohol and cigarettes. Additionally, aging population also adds to the rising incidences of CVD cases.
Development of more sophisticated and effective cardiac sutures that provide better results for patients is the result of technological breakthroughs in the field. Using biodegradable materials, developing better suturing methods, and creating robotic suture placement devices are some of these developments. This has led to an increase in safety and effectiveness of cardiac sutures, thereby increasing consumer acceptance and demand for these items. These factors are likely to fuel expansion of the global cardiac sutures market.
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Key Findings of Market Report
Based on product type, the absorbable sutures segment is anticipated to dominate the global industry. Sutures that dissolve naturally in the body and are absorbed over time are known as absorbable sutures. There is no need to remove these sutures, and thus the likelihood of infections spurred by suture removal is decreased. Since this does not leave any foreign objects in the body, absorbable sutures can aid in a quicker healing process. Consequently, there may be fewer difficulties and shorter hospital stays for patients, which is anticipated to fuel business growth.
Global Cardiac Sutures Market: Regional Landscape
According to a recent market forecast, North America is expected to dominate the global market due to high incidence of cardiovascular disorders and presence of major companies in the region. There is a strong demand for cardiac procedures due to increase in prevalence of heart-related disorders in the region. The top cause of mortality in the U.S., as reported by the Centers for Disease Control and Prevention (CDC), is heart disease. Market development in North America is driven by rise in number of hospitals and clinics in the region offering advanced cardiac surgery equipment and qualified medical staff. Increase in the range of products available for use in cardiac sutures is anticipated to expand the cardiac sutures market in North America.
Global Cardiac Sutures Market: Key Players
W. L. Gore & Associates, Inc. Boston Scientific Corporation W. L. Gore & Associates, Inc. Apollo Endosurgery, Inc. Smith & Nephew plc. Medtronic plc
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Global Cardiac Sutures Market: Segmentation
Product Type
Absorbable Sutures Non-absorbable Sutures
Material
Type
Monofilament Multifilament
End-user
Hospitals Ambulatory Surgical Centers Clinics
Regions
North America Europe Asia Pacific Middle East & Africa Latin America
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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