Fast research and development efforts are being made by market participants to increase the efficacy of sutures, which is anticipated to propel the expansion of the global sutures market over the forecast period. Consider the two new handheld, automated 3D printed suture sewing devices Sutrue Ltd., a U.K.-based medical device business, invented in June 2018 to assist reduce needle injuries. These recently created, highly refined suture devices can be utilised for several types of medical procedures, including dental, cosmetic, and other procedures. The automation technology used in these 3D printed suture stitching devices makes them more affordable and precise. Researchers from Montreal, Canada have created ground-breaking, novel tough gel sheathed (TGS) sutures that are inspired by the human tendon, according to a McGill University article dated April 2021. They have a gel envelope that is slick but resilient, just like a human tendon. These next-generation sutures have advantages over conventional sutures in that they limit the harm, discomfort, and difficulties that can arise after surgery.
The Coherent Market Insights estimates that the worldwide Sutures Market will be worth US$ 3,688.50 million in 2022 and expects it to grow at a CAGR of 8.3% during the forecast period (2022-2030).
Key Competitors in the Sutures Industry:
1. Johnson & Johnson
The corporate headquarters of Johnson & Johnson, which was founded in 1886, are located in New Brunswick, New Jersey. Johnson & Johnson creates consumer packaged goods, prescription medications, and medical technologies. The company announced in November 2021 that it would split into two publicly traded companies, one specialising on consumer items and the other in pharmaceuticals and medical technology. The company claimed that during the first quarter of April 2021, sales of their Covid-19 immunisation totaled $100 million. In November 2022, Johnson & Johnson acquired Abiomed Inc. for $16.6 billion.
2. Medtronic Plc.
Minneapolis, Minnesota serves as the main location for Medtronic, which was founded there in 1949. Medical technology and medications are developed and produced by it. The HeartWare Ventricular Assist System was subject to a commercial decision to recall in February 2021. The business announced in April 2022 that it will partner with GE Healthcare to meet the demands for care at ambulatory surgery centres. The business said in October 2022 that it intends to look into dividing its integrated Patient Monitoring and Respiratory Interventions sections.
3. Advanced Medical Solutions Group plc
AMS Group plc was established in 1991 and Germany serves as the company's main office. Advanced Medical Solutions creates, develops, and produces cutting-edge wound care solutions for other healthcare suppliers. In February 2023, Advanced Medical Solutions disclosed plans to purchase Connexicon Medical Ltd. In November 2020, Advanced Medical Solutions revealed plans to purchase Raleigh Adhesive Coatings, a standalone woundcare and bio-diagnostics coatings company.
4. GMD Group
The company was founded in 1986 and İstanbul, Başakşehir serves as the company's primary location. In accordance with the USP and EP, GMD manufactures a variety of sterilised absorbable and non-absorbable surgical sutures (EP). GMD is involved in the entire process, from design to manufacture, and has developed industrial experience in the technology and related services used in the manufacture of mechanical, electrical, and electronic assemblies, components, and parts.
5. Bentley Healthcare Pvt. Ltd
Bentley Healthcare Pvt. Ltd. was founded in 2008 and the company's headquarters is in Bangalore, Karnataka. Bentley Healthcare Pvt. produces, supplies, markets, and sells a broad range of surgical supplies, including absorbable sutures, non-absorbable sutures, surgical polypropylene mesh, skin staplers, sterile bone wax, surgical tape, surgical kits, and atraumatic needles. In September 2022, Bentley will take over ownership of the Go Back catheter's rights from Upstream Peripheral Technologies (Caesarea, Israel).
6. Lotus Surgical
Lotus Surgical was established in 2005 and has its headquarters in Mumbai, India. Lotus provides a wide selection of surgical instruments, and designs, develops, and produces items using cutting edge technology in cleanroom settings while being supervised by highly qualified and skilled staff.
7. Teleflex Incorporated
The company's headquarters are in Wayne, Pennsylvania, where it was established in 1943. It offers a variety of critical care and surgical procedures with specialised medical devices. Teleflex adds two new FDA-approved catheter devices for use in complex percutaneous coronary interventions (PCI) to its portfolio of interventional cardiology products in February 2023.
8. Riverpoint medical
The company was founded in 2008 and has its headquarters in Portland, Oregon .For the veterinary and healthcare sectors, River point Medical designs, develops, and markets cutting-edge medical equipment. Costa Rica's New Manufacturing Complex Is Opened by River point Medical. The new location will debut in 2023.
Definition: A suture is a stitch used to close up a wound's open areas, particularly one that is applied after a patient has undergone surgery. A junction between the skull's bones in which fibrous tissue securely holds the bones together.
