Automated Suturing Devices Market Analysis, And Regional Outlook By 2028
Automated Suturing Devices Industry Overview
The global automated suturing devices market size was valued at USD 2.7 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.7% from 2021 to 2028.
A rise in the number of surgical procedures, growing prevalence of chronic disorders, preference for Minimally Invasive Surgeries (MIS) over traditional surgical procedures including cardiac, orthopedic, gastrointestinal, and gynecological surgeries, and increasing number of accidents and trauma cases are some of the prominent factors expecting to fuel the market growth in the forecast period. However, high devices cost, low availability of the product, and a dearth of skilled professionals are hindering market growth in some developing countries.
Gather more insights about the market drivers, restrains and growth of the Global Automated Suturing Devices Market
An increase in the number of road accidents is one of the high-impact rendering factors leading to an increase in the demand for automated suturing devices. According to the WHO, the annual number of non-fatal injuries alone contributes to more than 20 million cases worldwide. Hence, an increase in the incidence of wound injury is leading to a rise in the number of wound surgeries, which is expected to positively impact the growth of the market for automated suturing devices in the long run. Other accidents include burn-related injuries, sports injuries, trauma, and fall injuries. According to American Burn Association, burn injuries accounted for around 44% of all hospital admissions. Severe injuries mostly need surgical intervention, thus significantly contributing to the growth of the market.
The growing geriatric population is the leading factor accelerating the growth of the market for automated suturing devices. According to the Department of Economic and Social Affairs Population Division, the percentage of people aged 60 and above has increased from 9.2% in 1990 to 11.7% in 2013, which is expected to further increase to 21.1% by 2050. People aged 60 and above are at a high risk of diseases such as cardiovascular, orthopedic, and neurological diseases. Thus, an increase in the geriatric population and the need for surgical procedures are expected to boost the demand for automated suturing devices. However, there may be a risk of postsurgical complications in elderly people, which may limit the growth to a smaller extent.
A large number of surgical procedures are performed around the world. According to OMICS International Conferences, 2015, around 234 million surgical procedures are performed annually. In addition, as per the Plastic Surgery Statistics Report, 17.5 million cosmetic surgical and minimally invasive procedures were performed in 2017 in the U.S. This showcases that the number of surgeries being performed is expected to increase in the near future. Thus, usage of automated suturing devices is anticipated to grow over the forecast period.
Browse through Grand View Research’s Medical Devices Industry Research Reports.
- Ambulatory Surgery Center Market – The global ambulatory surgery center market size was valued at USD 75.2 billion in 2018 and is estimated to register a CAGR of 6.1% over the forecast period.
- Minimally Invasive Surgical Instruments Market – The global minimally invasive surgical instruments market size was valued at USD 19.96 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 9.8% from 2022 to 2030.
Market Share Insights
- December 2019: Apollo Endo-surgery, Inc., got FDA approval for its innovative Polypropylene Suture-Anchor Assembly, which is used along with the overstitch endoscopic suturing system.
Key Companies profiled:
Some prominent players in the global automated suturing devices market include
- Medtronic Plc
- Boston Scientific
- BD
- EndoEvolution
- LSI Solutions, Inc.
- Smith & Nephew
- Sutrue
- Apollo Endo-surgery
Order a free sample PDF of the Automated Suturing Devices Market Intelligence Study, published by Grand View Research.