January 28, 2022
According to the research report titled ‘Automated Suturing Devices Market Size, By Type (Reusable, Disposable), By Application (Open Heart Surgery, Minimally Invasive surgery, Trauma Cases), By End-use (Hospitals, Ambulatory Surgical Centers, Clinics), COVID-19 Impact Analysisr, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, automated suturing devices market is likely to expand significantly during 2021-2027.
Rising frequency of chronic diseases that require surgical interventions is the major growth determinant for automated suturing devices market.
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For the unversed, suturing device automation has improved the efficacy and precision of minimally invasive surgical operations by lowering the risk of human mistake. High accuracy, enhanced speed, better access to hard-to-reach locations, and fewer needle stick injuries for medical practitioners are the major advantages that boosting the product demand.
Major technology advancements focusing on product refinement have also fueled market growth in the recent years. Notably, leading companies are implementing lucrative business tactics to capitalize on current trends, which has shifted market dynamics in their advantage.
On the basis of product type, the reusable sub-segment held market share of 33% in 2020, and it is expected to increase steadily during the analysis period, owing low costs and easy availability of reusable automated suturing equipment.
In terms of application ambit of automated suturing devices market, the minimally invasive surgeries segment had an industry share of 32% in 2020 and is predicted to grow significantly through 2027, owing to an increase in the number of minimally invasive procedures performed.
Based on end-use, the hospitals segment share is expected to grow at a CAGR of 5.9% over the projection period, due to rising number of surgeries conducted in hospitals, and the increasing presence of competent personnel in these settings.
Considering the regional landscape, North America market was valued at USD 200 million in 2020, and it is expected to grow rapidly between 2021 and 2027. The expansion is attributed to the rising awareness of minimally invasive procedures, an increase in the number of product launches, and high spending on sophisticated medical technology in the region.
The key players in the automated suturing devices market are Surgical Specialties Corporation, Medtronic plc, DemeTech Corporation, Mellon Medical B.V., Ethicon, Inc., Apollo Endosurgery, Inc., Smith & Nephew plc, Becton, Dickinson and Company, and B. Braun Melsungen AG.