Suture Anchors Market Set To Soar To US$ 1 Billion By 2031, With A Noteworthy 5% CAGR| Says Transparency Market Research

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Suture Anchors

Market is driven by rise in prevalence of sports injuries, advent of new technologies, improvement in healthcare facilities, and growth of medical tourism.

WILMINGTON, DELAWARE , UNITED STATES, October 16, 2023 /EINPresswire / -- As per an exhaustive research report from Transparency Market Research titled“Suture Anchors Market”, Forecast Till 2031: Insights by Type, Tying Type, Anchoring System, Material, End User and Region, the industry is expected to achieve a substantial market valuation of US$ 1 billion, demonstrating a robust compound annual growth rate (CAGR) of 5% throughout the forecast period spanning from 2021 to 2031.

The report encompasses a wealth of information regarding emerging trends, factors propelling market growth, opportunities for expansion, as well as factors that may impede industry dynamics. It delivers an extensive examination of market segments, encompassing product categories, application areas, and an analysis of competitors. Furthermore, the report offers an in-depth exploration of key companies, shedding light on the strategies they employ to thrive in this fiercely competitive landscape.

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Suture anchors are created to enable soft tissue to bone healing in situations where inadequate soft tissue accumulation on the bone makes it difficult to achieve a direct soft tissue–to–soft tissue repair. Tissue anchors allow the reattachment of tissue to bone in most parts of the body.

The increasing use of suture anchors for reattaching tissue to bone is driving demand for the global suture anchors market during the forecast period.

Rise in Prevalence of Sports Injuries: Key Driver

.Sports injuries are a major concern during sports or exercise. Sport injuries involve the musculoskeletal system, which includes muscles, tendons, ligaments, fascia, nerves, bones, and tissues.

.Sports injuries are primarily caused due to falls, overexertion, and fracture. The most common sites of injury during sports and recreation activities are lower extremity, upper extremity, and head & neck.

.According to the Johns Hopkins University, in the U.S., about 30 million children and teens participate in some form of organized sports, and over 3.5 million injuries are reported each year. More than 3.5 million children ages 14 and younger get hurt annually playing sports or participating in recreational activities.

.According to the U.S. Centers for Disease Control and Prevention (CDC), participation in organized sports is rising. Over 3.5 million children under the age of 14 receive medical treatment for sports injuries each year.

.Sport injuries, particularly knee and ankle injuries, are more common among women than men

.Incidence rate of tendon-linked injuries such as tennis elbow and rotator cuff tears is increasing. These injuries accounted for nearly 800,000 tendon‐related injury cases in Australia in 2017. In the U.S., 10 million cases of tennis elbow and rotator cuff tears were recorded in 2017.

.Hence, rise in prevalence of sports injuries is expected to drive the global suture anchor market

Research Approach:

The report incorporates primary information collected directly from key stakeholders through quantitative and qualitative analyses utilizing the Porter Five Force model's parameters. The report emphasizes macroeconomic indicators, trends within the parent market, and growth drivers. A comprehensive understanding of the market is achieved through both primary and secondary research. Rigorous checks were performed on the data used in the report to ensure its authenticity and quality. The credibility of evaluations and market segments is established using both bottom-up and top-down methodologies.

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Advent of New Technologies: Major Driver

.A range of suture materials is available for medical purposes. The primary types are absorbable and non-absorbable. Development of classes of suture materials based on their properties and capabilities to improve tissue approximation and wound closure has increased in the past few years.

.Current and emerging trends in the suture technology include knotless barbed sutures, antimicrobial sutures, bio-active sutures such as drug-eluting and stem cells seeded sutures, and smart sutures, including elastic and electronic sutures

.These newer options expand the versatility of sutures from being used as a physical entity approximating opposing tissues to a more biologically active component enabling delivery of drugs and cells to the desired site with significant application potential in both therapeutics and diagnostics

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Prominent players operating in the market are -

Smith & Nephew plc, CONMED Corporation, Johnson and Johnson (DePuy Synthes), Zimmer Biomet Holdings, Inc., Arthrex, Inc., Stryker, Medtronic

Suture Anchors Market – Segmentation

Type

.Absorbable
.Non-absorbable

Tying Type

.Knotted
.Knotless

Anchoring System

.Barbed Anchor
.Screw Fit Anchor
.Others

Material

.Metallic Suture Anchor
.Bio-absorbable Suture Anchor
.PEEK Suture Anchor
.Bio-composite Suture Anchor
.Others

End User

.Hospitals
.Ambulatory Surgery Clinics
.Clinics
.Others

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Nikhil Sawlani
Transparency Market Research Inc.
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