The global automated suturing devices industry anticipates registering a valuation of US$ 3.2 billion in 2023 and securing a valuation of US$ 6.5 billion by 2033. The global market is projected to capture a CAGR of 7.4% during the forecast period.
Medical practises are being revolutionised by technological breakthroughs in the constantly changing world of modern healthcare. Automated Suturing Devices Market is one such innovation that has shown tremendous growth. These innovative instruments have several advantages, from speeding up surgery and increasing accuracy to bettering patient outcomes. This blog examines the market for automated suturing devices, which is expanding quickly, and its possible effects on the medical sector.
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Traditional suturing methods demand sustained concentration and deft handwork. However, surgeons’ dexterity and control can be enhanced with automated suturing equipment. These devices have cutting-edge features including tension adjustment, precise needle positioning, and automatic knotting that allow for quicker and more effective wound closure. This effectiveness not only shortens the length of the procedure but also lowers the danger of infection and expedites the patients’ recovery.
Automated suturing devices use cutting-edge technologies to stitch with unmatched precision during operations, such as robotic assistance and computer-guided stitching. Controlled stitching improves patient outcomes and decreases the need for follow-up treatments by considerably lowering the likelihood of complications and wound dehiscence.
In recent years, the market for automated suturing devices has grown rapidly. The adoption of these cutting-edge equipment in various healthcare settings has been spurred by the increased demand for less invasive procedures and the rising number of surgeries. Additionally, the emphasis manufacturers place on ergonomic designs and new product innovations helps the industry grow.
Key Takeaways from FMI’s Automated Suturing Devices Market Study:
- The global market is estimated to secure a CAGR of 7.4% with a valuation of US$ 6.5 billion by 2033.
- In the historical period, the global market secured a CAGR of 6.0% between 2018 and 2022.
- The United States is anticipated to dominate the global market by capturing a maximum share of 31.9% by 2033.
- With a share of 4.8%, Germany is significantly driving the global market during the forecast period.
- The automated suturing devices market in the U.S. will witness positive growth owing to rising prevalence of cardiovascular diseases and requirement for invasive procedures in the country.
- France will find lucrative opportunities during the forecast period as according to the Organization of Economic Cooperation and Development, approximately 148075 minimal invasive surgeries took place in France in 2018. The country also has presence of several manufacturers such as Guerbet, Sanofi, and others.
- Disposable automated suturing devices are expected to lead the product segment as they are cost-effective. Rising demand for laparoscopy and minimally invasive procedures are also encouraging demand for the same.
- Hospitals will exhibit high demand for automated suturing devices since they receive a higher footfall of patients on a daily basis.
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“Several leading players are aiming for clearance from the United States Food and Drug Administration to launch advanced automated suturing devices. With focus on technological improvements on cards, the market is expected to gain momentum in the coming years,” says a FMI analyst.
Who is Winning?
Key players in the global automated suturing devices market are focusing on adopting inorganic strategies such as alliance, collaboration, partnerships, and merger and acquisitions to strengthen their position in the supply chain channels.
They are also emphasizing on launching new products and expanding their product portfolio. Key players operating in the global automated suturing devices market are Medtronic Plc., Boston Scientific, C. R. Bard, Inc., Apollo Endosurgery, EndoEvolution, LLC, LSI Solutions, Inc., and SuturTek Inc.
On March 3rd 2020, Origami Surgical launched StitchKit, a patented suture delivery and retrieval system. The U.S. Food and Drug Administration (FDA) approved 510k clearance for three novel types of sutures for the company’s StitchKit robotic surgery platform.
On November 2020, Healthium Medtech, one of India’s largest medical devices company, launched Trubarb, its latest innovation. This innovation is a knotless tissue closure device that reforms the suturing experience.
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On June 1st 2021, Anchora Medical, a Alon Medtech Venture’s company, announced closing of $4.5million financing led by HOYA Corporation and Tal Capital. The funds will be utilized for completing Anchora’s single use laparoscopic suturing devices.
Key Segments:
Product
- Reusable Automated Suturing Devices
- Disposable Automated Suturing Devices
Applications
- Minimally Invasive Surgeries
- Open Surgeries
- Trauma Cases
End Use
- Hospitals
- Clinics
- Ambulatory Surgical Centers
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