Automated Suturing Devices Market
Number of pages: 100 | Report Format: PDF | Published date: February 27, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 2.8 billion |
|
Revenue Forecast in 2030 |
US$ 4.81 billion |
|
CAGR |
6.2% |
|
Base Year for Estimation |
2021 |
|
Forecast period |
2022-2030 |
|
Historical Year |
2020 |
|
Segments Covered |
Type, Application, End User and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global automated suturing devices market was valued at US$ 2.8 billion in 2021 and is expected to register a revenue CAGR of 6.2% to reach US$ 4.81 billion by 2030.
Automated Suturing Devices Market Fundamentals
Automated suturing devices are becoming the preferred method of surgical suturing in the medical field. These automated suturing devices offer several advantages over manual suturing, such as increased precision and accuracy, reduced time and effort, and improved safety. Furthermore, they can be used in a variety of surgical procedures, including ligation, wound closure, and skin grafting. The use of automated suturing devices can also reduce the risk of infection and other complications associated with traditional suturing techniques.
Automated suturing devices are becoming increasingly popular in the medical field and are likely to become the standard for surgical suturing in the next few years. There are different types of automated suturing devices, including those based on robotics and those based on mechanical technology. Robotic suturing devices are programmed with a set of instructions that direct the machine to perform the task of suturing. These devices are often used in laparoscopic surgeries, where the surgeon needs to perform intricate tasks, such as suturing. Robotic suturing systems are more commonly used in home healthcare settings, where the suturing process needs to be completed quickly and accurately. Mechanical suturing devices are operated manually and require the user to manually move the needle through the tissue. These devices are generally less precise than robotic suturing devices; however, they can still be used to effectively suture wounds. Manual suturing devices are generally used in hospitals and medical facilities, as they provide the most control over the suturing process. Each type of automated suturing device has its own set of advantages and disadvantages. Therefore, it is important to understand the different types before deciding on the best type of automated suturing device for specific surgical needs.
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Automated Suturing Devices Market Dynamics
The key drivers leading to the growth of the global automated suturing devices market in the forecast period are the rise in the number of surgeries and the cases of accidents and trauma globally. There is a growing need for skilled healthcare workers to perform these surgeries as the number of surgeries performed rises. Due to its effectiveness and time-saving features, automatic suturing is occasionally favored. One of the high-impact contributing variables that have a direct impact on the need for automated suturing equipment is the rise in traffic accidents. The World Health Organization, or WHO, estimates that more than 20 million cases are caused annually by non-fatal injuries alone. Thus, an increase in the cases of wound injuries is driving up the demand for wound surgeries, which is eventually likely to help the market for automated suturing devices grow. Burn-related injuries, sports-related injuries, trauma, and fall injuries are examples of other mishaps. According to the American Burn Association, about 44% of all hospital admissions are due to burn injuries. The majority of severe injuries require surgical intervention, which greatly contributes to the revenue growth of the global automated suturing devices market.
Another factor driving the growth of the global automated suturing devices market is the aging population. The WHO predicts that there will be twice as many people in the globe who are 60 years of age or older (2.1 billion) by 2050. Cardiovascular, orthopedic, and neurological disorders are all common in people 60 and older. Therefore, a rise in the elderly population is expected to drive the demand for surgery, which is anticipated to boost revenue growth in the global automated suturing devices market.
However, the global automated suturing devices market is likely to experience challenges due to factors, such as the shortage of experienced specialists, limited product availability, and high equipment costs. Also, the possibility of postoperative problems in elderly patients restrains the global automated suturing devices market revenue growth to some extent.
Automated Suturing Devices Market Ecosystem
The global automated suturing devices market has been analyzed from four perspectives: type, application, end user, and region.
Automated Suturing Devices Market by Type
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Based on type, the global automated suturing devices market has been segmented into reusable and disposable.
The reusable segment accounts for the largest revenue share of the global automated suturing devices market. This segmental dominance is attributed to the ability of these devices to resist infection throughout treatments. Moreover, they are sterilized properly, which causes the least amount of tissue damage. Reusable automated suturing devices are also less expensive and more readily available in the market, which is projected to drive the segment's growth over the course of the projection period.
Automated Suturing Devices Market by Application
Based on application, the global automated suturing devices market has been segmented into gastrointestinal, cardiology, gynecology, orthopedic, and others.
The cardiology segment accounts for the largest revenue share in the global automated suturing devices market. The key factors influencing segment growth are the rising prevalence of cardiovascular diseases and the increasing number of surgical procedures. The two main conditions that are decimating people globally are coronary heart disease and ischemic heart disease. According to estimates by the American Heart Association, about 23.6 million more in-patient cardiac arrest cases are expected to be reported by the year 2030, which is projected to drive the global automated suturing devices market revenue growth.
Automated Suturing Devices Market by End User
Based on end user, the global automated suturing devices market has been segmented into hospitals, ambulatory surgical centers, and specialty clinics.
The hospital segment captures the highest revenue share in the global automated suturing devices market. The demand for the segment is rising due to the rise in number of patient admissions in hospitals. In addition, advantageous reimbursement policies, easy access to hospitals compared to other settings, and the presence of advanced medical devices are anticipated to boost the revenue growth of the hospitals segment.
Automated Suturing Devices Market by Region
Based on region, the global automated suturing devices market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America accounted for the largest revenue share in the automated suturing devices market, due to the rising elderly population and the increasing number of surgical operations. The need for automated suturing devices is anticipated to be driven by both a strong preference for minimally invasive operations supported by robots and developments in automated suturing technology. During the forecast period, a rise in the number of accidents and injuries in the United States is expected to propel revenue growth in the region. Additionally, a significant proportion of the population in the United States suffers from chronic conditions, the majority of which need surgery as the primary form of treatment. One of the top 10 most common causes of mortality in the United States is cancer. The high number of people suffering from chronic diseases and a rise in the demand for automated suturing devices to make surgical treatment of these diseases easier are anticipated to drive the revenue growth of the North America automated suturing devices market.
Automated Suturing Devices Market Competitive Landscape
The prominent players operating in the global automated suturing devices market are:
Automated Suturing Devices Market Strategic Developments
The global automated suturing devices market is expected to register growth at a revenue CAGR of 6.2% during the forecast period.
Medtronic Plc, Ethicon Inc., Anchora Medical, Apollo Endosurgery, Inc., and Boston Scientific Corporation are among the key players in the global automated suturing devices market.
The reusable automated suturing devices segment dominates the global automated suturing devices market.
Asia Pacific is expected to observe the highest revenue growth in the global automated suturing devices market during the forecast period.
The global automated suturing devices market was valued at US$ 2.8 billion in 2021.
*Insights on financial performance are subject to the availability of information in the public domain