PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498734
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498734
Automated Suturing Devices Market size was valued at USD 570.10 Million in 2023, expanding at a CAGR of 6.80% from 2024 to 2032.
The instruments that help with suturing during minimally invasive surgery and open surgery are referred to as automated suturing devices. Surgical procedures that need surgery and trauma cases are the usual uses for them. Improvements in wound healing are reported from these surgeries, which also shorten patients' recovery time in the hospital. One of the main factors propelling the global market for automated suturing devices is the rise in the frequency of trauma cases and accidents, which is forcing more people to undergo surgery.
Automated Suturing Devices Market- Market Dynamics
Increase in Surgical Operations to Propel Market Growth
One of the main factors driving the market expansion for automated suturing devices is the rise in surgical operations. The number of surgical procedures has increased in tandem with the rise in the incidence of chronic illnesses. Compared to previous surgical procedures, modern surgical treatments are becoming less unpleasant for patients, allowing them to return to their normal lives more quickly. Modern methods and tools, including automated suturing machines, aid in the effective healing of wounds according to the particular kind of tissue. Additionally, there is a growing need for surgical instruments like automated suturing devices and related instruments like needles because of the increasing popularity of MI procedures like laparoscopic procedures. Therefore, it is anticipated that throughout the projected period, the increase in surgical operations will propel the expansion of the global automated suturing devices market.
Automated Suturing Devices Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.80% over the forecast period (2024-2032)
Based on product segmentation, the reusable category was predicted to show maximum market share in the year 2023
Based on application segmentation, the open surgeries category was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Automated Suturing Devices Market is segmented on the basis of Product, Application, End Use, and Region.
The market is divided into two categories based on product: Reusable and Disposable. The reusable category dominates the market. The reusable product segment is dominating the market because, among other things, these devices minimize tissue damage and resist infection during treatments that are followed by suitable sterilizing measures. Reusable automated suturing devices are also anticipated to drive the segment's growth throughout the projected period because of their lower costs and ease of availability.
The market is divided into the following categories based on end use: Hospitals, Clinics, and Ambulatory Surgical Centers. The hospitals category dominates the market and is likely to maintain its dominance during the forecast period. The segment's demand is rising as a result of an increase in patient hospital admissions. Furthermore, hospitals' simple availability and accessibility compared to other settings, as well as their attractive reimbursement policies, are anticipated to drive market expansion. Close wounds in confined locations with the help of handheld automated suturing equipment to speed up recovery and reduce hospital stays.
Automated Suturing Devices Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Over the course of the forecast period, North America is anticipated to hold the greatest share of the global market for automated suturing devices because automated suturing device manufacture is increasingly utilizing highly sophisticated technologies and processes. The robotic-assisted surgery market in North America is expected to grow rapidly due to technological advancements. The enhanced market expansion in the sector is also significantly influenced by the high prevalence of cutting-edge automated suturing equipment in the industry. The largest anticipated contribution to the growth of the regional market is anticipated to come from the United States. Several agreements that regional players are entering into are expected to help the market in the region throughout the projected period. For instance, Cynosure signed a deal to purchase MyEllevate Surgical Suture System in April 2021. The project is expected to increase the array of minimally invasive facial rejuvenation products offered by the company.
In addition, the automated suturing devices market is anticipated to expand at the fastest rate in the world during the projected period in Asia Pacific. The burden of chronic illnesses is predicted to increase, and consumer awareness is predicted to rise, which will propel market expansion in the area. Local businesses are making strategic efforts to create and market novel therapeutic alternatives for patients. It is anticipated that this will accelerate market expansion.
Key companies such as Medtronic Plc, LSI Solutions, Inc., EndoEvolution, and Smith & Nephew, among others, use strategies like acquisitions and mergers to strengthen their position in the market. Major companies are investing a lot in R&D to produce items using advanced technologies. In order to strengthen their position in the market, significant industry players are also actively putting methods like collaborations, mergers and acquisitions, new product line innovation, and training services into practice. Leading players are spending a lot of money on research and development to provide state-of-the-art technical solutions.
January 2022: The US Food and Drug Administration authorized Endomina, an endoscopic medical suture device created by Endo Tools Therapeutics, for the endoscopic implantation of sutures in the adult gastrointestinal tract. A firm called Surgical Theater, which sells a platform for surgical rehearsal, and Medtronic announced their collaboration.
April 2021: The firms involved in the venture concentrated on combining Medtronic's StealthStation S8 surgical navigation system with SynAR's augmented reality of Surgical Theater. Furthermore, Medtronic's innovative technology will probably enable surgeons to perform at a higher level.
GLOBAL AUTOMATED SUTURING DEVICES MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Medtronic Plc
LSI Solutions, Inc.
EndoEvolution
Smith & Nephew
Sutrue
Boston Scientific
Apollo Endo-surgery
B. Braun SE Source
Others