Global Surgical Sutures And Staples Market Will Grow At A CAGR Of 5.7% During 2018-2022

LONDON, Oct. 2, 2019 /PRNewswire/ -- TheBusinessResearchCompany.com offers Surgical Sutures And Staples Global Market Report 2019 from its Medical Equipment category. The global surgical sutures and staples market was valued at about $7.3 billion in 2018 and is expected to grow to $9.11 billion at an annual growth rate of 5.7% through 2022. 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.

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Increasing Adoption Of Minimally Invasive Surgeries Will Hinder The Surgical Sutures And Staples Market Growth : 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 is also less painful, provides a shorter hospital stay, and has 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.

Increasing Use Of Disposable Surgical Sutures And Staple Devices: The use of disposable surgical sutures and staple devices is an emerging trend in the global 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 the spread of pathogens and promotes the use of disposable devices.

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Regulatory Bodies Keep A Check On Surgical Device Manufacturers: The Food and Drug Administration 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.

Competitive Landscape Of The Surgical Sutures And Staples Market: Major players in the global surgical sutures and staples market are Ethicon Endo-Surgery, Inc., Stryker Corporation, Smith & Nephew plc, Conmed Corporation, and Medtronic plc. Companies have been investing in merger and acquisition activity to strengthen and expand their businesses. 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.

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