Surging adoption of minimally invasive procedures due to the rising prevalence of cardiovascular disease and rising incidents leading to trauma and open surgeries is augmenting the growth of automated suturing devices market.
According to Future Market Insights, the global automated suturing devices is poised to expand at a CAGR of 7.3% to reach a valuation of approx. US$ 473 million through 2021 and beyond.
Increasing research & development for advanced automated suturing devices due to the rising adoption of minimally invasive procedure is anticipated to accelerate the demand across countries such as U.S., Japan, India, China and UK.
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Use of automated suturing devices in minimal invasive surgeries, open surgical procedures and major trauma cases that require surgery is expected to drive the market across Asia Pacific excluding Japan (APEJ).
Rising preference for automated suturing devices over conventional ones during laparoscopic surgery is a major factor for market growth. Furthermore, the device is also preferred by procurement teams at hospitals as it’s labelled under “green products”, resulting in considerably less impact on the environment as compared to plastic single-use disposable suturing devices. Thereby, improving the market growth.
Competitive Landscape
Medtronic Plc., Boston Scientific, C. R. Bard, Inc., Apollo Endosurgery, EndoEvolution, LLC, LSI Solutions, Inc. and SuturTek Inc. are some prominent players operating in the automated suturing devices market.
Product development and innovation of new devices coupled with strategic mergers and acquisition remains the core strategy for the leading players to maintain a strong foothold in the industry.
In December 2019, for instance, a global leading player, Advanced Medical Solutions Group PLC, manufacturer of tissue adhesives, sutures, hemostats, and internal fixation devices, announced the acquisition of Biomatlante, a developer of synthetic bone graft technologies.
In September 2019, another leading player, Apollo Endosurgery, Inc. received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its Polypropylene Suture-Anchor Assembly for the use with the Over Stitch Endoscopic Suturing Systems.
Furthermore, in June 2018, Apollo Endosurgery, Inc. received Special 510(k) clearance from the U.S. Food and Drug Administration for Over Stitch Sx Endoscopic Suturing System. The endoscopic suturing systems allowed physicians to place full-thickness sutures from a flexible endoscope in endoscopic surgery.
Key Takeaways from FMI’s Automated Suturing Devices Market Study
- By product type, disposable automated suturing devices to emerge as lucrative segment through 2021
- Increasing application in minimally invasive surgeries to stimulate suturing devices sales
- The U.S. is expected to experience noteworthy expansion amid robust presence of regional suture devices manufacturers, experiencing 1.9x growth
- India and China are expected to offer lucrative opportunities across South Asia & East Asia
- Japan is expected to register a stellar growth on the back of rising adoption of minimally invasive procedures
- Growing cases of gastrointestinal diseases to widen automated suturing devices adoption across Germany
“Visibly increasing adoption of minimally invasive procedures is likely to amplify demand of automated suturing devices among prominent automotive manufacturing giants,” says the FMI analyst.
More Insights on the Global Automated Suturing Devices Market
In its latest report, FMI offers an unbiased analysis of the global automated suturing devices market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (disposable and reusable), application type (minimally invasive surgeries, open surgeries, and trauma) across seven major regions (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan and Middle East & Africa)
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About the Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here
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