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The automated suturing devices market share is expected to increase by USD 242.44 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.65%.
This automated suturing devices market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automated suturing devices market segmentation by product (reusable and disposable) and geography (North America, Europe, Asia, and Rest of World (ROW)). The automated suturing devices market report also offers information on several market vendors, including Apollo Endosurgery Inc., B Braun Melsungen AG, Becton Dickinson and Co., Boston Scientific Corp., Centenial Surgical Suture Ltd., Coloplast Corp., DemeTECH Corp., Johnson and Johnson, LSI Solutions Inc., Medtronic Plc, Mellon Medical BV, Peters Surgical, Smith and Nephew plc, and Suture Ltd. among others.
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The increased number of surgical procedures is notably driving the automated suturing devices market growth, although factors such as the high cost of automated suturing devices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automated suturing devices industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automated Suturing Devices Market Driver
The increased number of surgical procedures is one of the key drivers supporting the automated suturing devices market growth. With the increase in the prevalence of chronic conditions, there has been a rise in the number of surgical procedures. Nowadays, surgical procedures are becoming less painful for patients, which allows them to get back to normal life fast compared with the traditional surgical procedures. Advanced techniques and devices such as automated suturing devices help in the efficient healing of wounds in accordance with the specific type of tissue. Moreover, the growing adoption of MI surgeries, such as laparoscopic surgeries, has created a demand for surgical devices such as automated suturing devices and associated devices such as needles. Thus, the rise in the number of surgical procedures is expected to drive the growth of the global automated suturing devices market during the forecast period.
Key Automated Suturing Devices Market Trend
Technological advances is one of the key automated suturing devices market trends that is contributing to the market growth. For instance, Mellon Medical offers Switch, its first device that can perform automated suturing in vascular surgeries. The device is also used in transplant, cardiothoracic, and other surgeries. Suturing can be done at a fast rate by using such advanced devices when compared with the traditional suturing technique. Moreover, such devices significantly reduce the risks of complications, which will reduce the overall healthcare cost. Similarly, Ethicon offers PROXISURE, which enables precise suturing in tight spaces. The device enables reduced operation time and cost. It has a curved needle, which improves a surgeon's ability to suture various types of tissue, including flat surfaces, with less tissue manipulation. This results in less tissue trauma. Such technological advances will fuel the growth of the global automated suturing devices market during the forecast period.
Key Automated Suturing Devices Market Challenge
The high cost of automated suturing devices is one of the factors hindering the automated suturing devices market growth. Automated suturing devices are used in surgical procedures to close surgical incisions. The use of these devices helps physicians ensure surgical accuracy and precision. However, the high cost of automated suturing devices compared with traditional sutures is adversely affecting the market. Moreover, the governments of many developing and underdeveloped countries, such as India, China, and several African countries, do not provide reimbursement for these devices. For instance, the average cost of a reusable automated suturing device is $6,200-$7,200. Thus, the high cost of automated suturing devices is expected to limit the growth of the market during the forecast period.
This automated suturing devices market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global automated suturing devices market as a part of the global healthcare equipment market. The parent, global healthcare equipment market covers products and companies engaged in research and development (R and D) of a variety of product categories, including capital equipment, instruments, implants, accessories, and consumables that are used for the diagnosis, monitoring, and treatment of various diseases.
Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automated suturing devices market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the automated suturing devices market encompasses successful business strategies deployed by the key vendors. The automated suturing devices market is concentrated and the vendors are deploying growth strategies such as M and A activities to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automated suturing devices market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the automated suturing devices market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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36% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for automated suturing devices market in North America. Market growth in this region will be faster than the growth of the market in ROW.
The launch of technologically advanced products will facilitate the automated suturing devices market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In early 2020, the outbreak of COVID-19 in the region led to a halt in the operations of units manufacturing healthcare equipment. However, the market is expected to grow positively after the pandemic is brought under control with the advent of vaccines. The outbreak prompted vendors to come up with new business strategies, such as online promotional activities and training for doctors, to raise the demand for surgical instruments. This will help the regional market to grow during the forecast period.
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The automated suturing devices market share growth by the reusable segment will be significant during the forecast period. Reusable automated suturing devices are medical devices that are used to seal the tissue after the surgery. It can be used during every surgical procedure. Owing to their reusability, these devices are used in various types of surgeries and do not need to be disposed of as medical waste after the completion of one surgical procedure. Owing to these advantages, the demand for reusable automated suturing devices is expected to rise during the forecast period, which will propel the growth of the global automated suturing devices market.
This report provides an accurate prediction of the contribution of all the segments to the growth of the automated suturing devices market size and actionable market insights on post COVID-19 impact on each segment.
Automated Suturing Devices Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.65% |
Market growth 2022-2026 |
$ 242.44 million |
Market structure |
Concentrated |
YoY growth (%) |
6.08 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 36% |
Key consumer countries |
US, Canada, Germany, France, and China |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Apollo Endosurgery Inc., B Braun Melsungen AG, Becton Dickinson and Co., Boston Scientific Corp., Centenial Surgical Suture Ltd., Coloplast Corp., DemeTECH Corp., Johnson and Johnson, LSI Solutions Inc., Medtronic Plc, Mellon Medical BV, Peters Surgical, Smith and Nephew plc, and Suture Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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