The global suture anchor devices market size is estimated to attain a valuation of USD 1,080.9 million by 2033. Our healthcare analysts opine that suture anchor device manufacturers can expect a CAGR of 4.2% through 2033, with a current valuation of USD 719.6 million in 2023.
| Attributes | Details |
|---|---|
| Suture Anchor Devices Market Size, 2022 | USD 688.0 million |
| Suture Anchor Devices Market Size, 2023 | USD 719.6 million |
| Suture Anchor Devices Market Size, 2033 | USD 1,080.9 million |
| Value CAGR (2023 to 2033) | 4.2% |
Key Market Highlights
Surging Space Exploration Programs Ensure a Continued Demand in Due Course
Suture anchor devices have emerged as indispensable tools in space exploration, where astronauts confront the particular difficulties of zero gravity and restricted access to traditional medical facilities. These tools have been modified for use in dealing with accidents, medical crises, and surgical procedures in the challenging confines of space.
Suture anchor tools are crucial for performing medical procedures and treating injuries during space missions due to their mobility, least intrusive design, and efficiency. The suture anchor devices industry is estimated to remain a crucial part of astronauts' medical supplies as space exploration develops.
Virtual Reality (VR) Surgical Training is Likley to Revolutionize Medical Procedures
Platforms for surgical training based on virtual reality (VR) are transforming how surgeons learn and perform operations utilizing suture anchor devices. With the help of these realistic training facilities, surgeons can refine their abilities in a controlled atmosphere. They can practice suture anchor device insertion in simulated operations, improving their competence and familiarity with these tools.
VR-based training shortens the learning curve, lowers the chance of mistakes during actual operations, and ensures that surgeons are competent in using suture anchor devices. This technologically advanced method of surgical training is changing the face of medical education and fostering industry growth.
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| Attributes | Details |
|---|---|
| Suture Anchor Devices Market Size (2018) | USD 577.7 million |
| Suture Anchor Devices Market Size (2022) | USD 688.0 million |
| Suture Anchor Devices Market (CAGR 2018 to 2022) | 3.6% |
Suture anchor devices have undergone significant technical improvements in recent years. To enhance anchor materials, designs, and delivery systems, manufacturers are investing in research and development. These devices are efficient and dependable at repairing damaged tissues due to their improved biocompatibility, robustness, and durability. These developments have improved patient outcomes and the spectrum of applications for suture anchor devices, leading to the market's expansion.
The use of minimally invasive surgical methods is on the rise. Patients and healthcare professionals are choosing minimally invasive procedures on a growing basis as they provide several benefits, such as less post-operative discomfort and small incisions.
Suture anchor devices are essential to many minimally invasive orthopedic operations to address the rising demand for these less intrusive treatments. As a result, the suture anchor device market has expanded dramatically.
In the coming years, suture anchor devices are likely to follow the trend of customized medicine. Devices will be made in huge amounts to accommodate unique patient requirements and anatomical variances. The accuracy of procedures and patient results will both be improved by this personalization.
Increased healthcare investment and infrastructure development are anticipated in emerging regions, notably in Asia and Latin America. As these regions increase their capacity for orthopedic treatment, this aspect is going to present chances for market expansion.
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Principal Consultant
In 2022, the biocomposite suture anchor emerged as the leading material type, occupying nearly 51.4% of the suture anchor device market share.
| Segment | Biocomposite Suture Anchor (Material Type) |
|---|---|
| Value Share (2022) | 51.4% |
The biodegradability and tissue-friendly characteristics of biocomposite anchors can decrease the necessity for revision procedures to remove permanent anchors. As a result, medical expenses are lowered, patients are satisfied, and surgical risks are decreased.
The use of biocomposite suture anchors in a variety of orthopedic procedures, including those involving ligaments, tendons, and joint structures, demonstrates its adaptability. Because of their adaptability, orthopedic surgeons who want dependable fixation solutions for a variety of anatomical spots frequently use them. Biocomposite suture anchors support current medical trends emphasizing patient-centered care, and minimally invasive, and green medical procedures. Due to this synergy, they are a market-leading segment.
In 2022, the absorbable segment was the leading product type, capturing nearly 77.0% of the suture anchor devices market share.
| Segment | Absorbable (Product Type) |
|---|---|
| Value Share (2022) | 77.0% |
Surgical planning becomes simple because of the absorbable anchors' innate dissolution over time. The surgical process is streamlined, perhaps shortening the duration of the operation because surgeons do not need to include anchor removal operations in their treatment plans.
The likelihood of long-term issues with permanent anchors, such as anchor loosening, corrosion, or tissue irritability, is reduced with absorbable anchors. As a result, they are a desirable option for both patients and surgeons who are concerned about post-operative problems.
The use of absorbable suture anchors in orthopedic and sports medicine procedures such as ligament and tendon repair, rotator cuff repair, and labral repair demonstrates their adaptability. Their adaptability may be used in a wide range of therapeutic situations, which eventually expands the absorbable suture anchor market.
| Countries | Value CAGR (2023 to 2033) |
|---|---|
| The United Kingdom | 2.8% |
| Germany | 6.1% |
| India | 4.2% |
| China | 3.7% |
| Australia | 2.5% |
The suture anchor devices market in the United Kingdom is likely to develop at a 2.8% CAGR through 2033. A combination of an aging population and an increase in sports-related injuries
is contributing to a rise in orthopedic procedures in the United Kingdom.
Suture anchor devices are progressively used to heal damaged tissues as many patients seek orthopedic care. Patients in the United Kingdom are knowledgeable about orthopedic diseases and available therapies. They are more prone to seek surgical procedures for musculoskeletal problems and anticipate high-quality care, which helps the market expand.
The private healthcare industry in the United Kingdom contributes significantly to market growth. Orthopedic operations using suture anchor devices can be performed quickly for patients in private healthcare institutions, which leads to their continued demand.
The suture anchor devices market in Germany is expected to thrive at a 6.1% CAGR through 2033. Germany is home to several world-class, specialized orthopedic centers of excellence that provide a variety of orthopedic operations, such as joint replacement surgeries and sports medicine. To ensure the success of these treatments, these facilities rely extensively on suture anchor devices, which helps the market grow.
In Germany, collaboration between healthcare practitioners, academic institutions, and producers of medical devices promotes innovation and the creation of suture anchor devices that are specifically suited to clinical requirements. This cooperative environment promotes the adoption of innovative devices.
The suture anchor devices market in India is likely to rise at a 4.2% CAGR through 2033. India has become an essential medical equipment producer, particularly of suture anchor devices. This local manufacturing capacity has produced less expensive gadgets and made healthcare providers' accessibility better.
Suture anchor devices tailored to the particular requirements of the population in India have been developed by regional medical device manufacturers. These gadgets are likely to be less expensive and suited to common orthopedic disorders.
India's increased interest in fitness and sports has brought an increase in sports-related injuries. With more orthopedic procedures being conducted to address injuries with suture anchor devices, sports medicine presents great opportunities in India.
The suture anchor devices market in China is expected to increase at a 3.7% CAGR through 2033. Due to China's accelerating urbanization, people are collectively engaging in many activities such as sports and exercise. As a result, orthopedic operations using suture anchor devices are frequently needed to treat musculoskeletal problems.
Public and private organizations have made large investments in the healthcare industry, improving healthcare infrastructure and increasing access to cutting-edge medical tools, including suture anchor devices.
A growing number of age-related musculoskeletal disorders, including osteoarthritis and fractures, are prevalent in China as a result of the country's aging population. To treat these disorders, orthopedic operations with suture anchor devices are required, ensuring a continued demand in the market.
The suture anchor devices market in Australia is predicted to surge at a 2.5% CAGR through 2033. Sports-related injuries are more common in Australia due to the country's active outdoor lifestyle and emphasis on sports and leisure time.
Orthopedic procedures using suture anchor devices are frequently needed to treat these injuries. Rugby, cricket, and tennis are just a few of the sports in which Australia excels. As a result, there continues to be a large demand for orthopedic and sports medicine operations, which is pushing the consumption of suture anchor devices. The opportunities for sports medicine will hasten suture anchor market growth in tandem.
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A blend of well-known international corporations and cutting-edge startups characterizes suture anchor device market competition dynamics. These businesses compete based on product quality, innovation, legal compliance, and business alliances. Stryker Corporation, Smith & Nephew plc, Medtronic plc, Johnson & Johnson, Arthrex, Inc., and CONMED Corporation are a few notable players in the market.
The market is dynamic, and there are constant efforts in research and development to bring in new suture anchor devices that meet the changing demands of orthopedic and sports medicine practitioners. Additionally, these businesses prioritize increasing their worldwide reach through alliances and acquisitions, hence escalating market competitiveness.
Recent Developments
The suture anchor devices market size is valued at USD 719.6 million in 2023.
The suture anchor devices market size is expected to rise at a 4.2% CAGR through 2033.
The suture anchor devices market is estimated to be worth USD 1,080.9 million by 2033.
Absorbable suture anchors are leading products in the suture anchor devices market.
The suture anchor devices market in Germany is likely to rise at a 6.2% CAGR through 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Absorbable 5.2. Non-Absorbable 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 6.1. Metallic Suture Anchor 6.2. Bio-absorbable Suture Anchor 6.3. PEEK Suture Anchor 6.4. Bio-composite Suture Anchor 6.5. All Suture Anchor 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Tying 7.1. Knotless Suture Anchor 7.2. Knotted Suture Anchor 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 8.1. Hospitals 8.2. Emergency Medical Services 8.3. Clinics 8.4. Ambulatory Surgical Centres 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Smith & Nephew plc. 19.2. Zimmer Biomet Holdings, Inc. 19.3. ConMed Corporation 19.4. Arthrex, Inc. 19.5. Johnson and Johnson (DePuy Synthes, Inc.) 19.6. Medtronic plc 19.7. Stryker Corporation 19.8. Parcus Medical, LLC. 19.9. Wright Medical Group N.V. 19.10. Teknimed SA 19.11. MedShape, Inc. 19.12. South America Implants S.A. 19.13. Anstem Medical 19.14. Groupe Lepine S.A. 19.15. In2Bones SAS 19.16. Tulpar Medical Solutions 19.17. Neosys Surgical Solutions LTD 19.18. Biocomposites Ltd 19.19. HNM Medical 20. Assumptions & Acronyms Used 21. Research Methodology
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Suture Anchor Devices Market
