The global cardiac sutures market is expected to grow from USD 1.45 billion in 2022 to USD 3.13 billion by 2032, at a CAGR of 8% from 2023-2032. The increasing research and development in the pharmaceuticals and healthcare sector will augment the growth of the global cardiac sutures market.

Market Introduction:

Sutures or stitches are sterile surgical threads used to seal wounds. Moreover, they are routinely employed to seal surgical incisions. Deep cuts or wounds are closed using sutures. A proper suture helps the skin tissue to repair. It also helps in ensuring optimal skin recovery. Sutures cut down on bleeding and also lower the risk of bacterial contamination. Sutures aid in the haemostasis of the skin and restore the wounded bodily part's natural function. They are highly effective in maintaining the appearance of cosmetic effects. There are two different kinds of sutures, namely, absorbable and non-absorbable. The absorbable sutures do not need to be removed by the surgeon or the doctor. The body's tissues include enzymes that naturally digest them. Whereas the non-absorbable ones need to remove by the doctor as they do not dissolve. Sutures made of Several natural or synthetic materials. For instance, nylon is used to make natural monofilament sutures. Other materials include Prolene, polypropylene, Silk, Polyester etc. cardiac sutures are the ones that are used for cardiovascular surgeries or heart treatments.

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Recent Development

January 2023 - Able Medical Devices, a division of M Longyear, has unveiled its stainless-steel Valkyrie Looped Sternotomy Sutures. After open-heart surgery, the Valkyrie Looped Sternotomy Sutures are used to close the patient's chest. In comparison to conventional wire sutures, they provide sternal closure that is more durable and has twice the surface area. The new Valkyrie Looped Sutures perfectly complement the Valkyrie Thoracic Fixation System. The products work together to create a whole closure range. According to Able Medical, this covers surgical techniques requiring sternal repair for patients with normal and weak bone and post-sternotomy sternal fixation. Able Medical works with businesses with growth-based portfolios looking for outsourced services for everything from design and development to full-scale product manufacture.

Market Dynamics:

Drivers

The rising incidence and prevalence of cardiovascular diseases – Cardiovascular diseases are associated with conditions of the heart. The infections can affect the whole heart or a part of it. The disorders can be minimal, or they can be life-threatening. Cardiovascular diseases affect everyone across different age groups, genders or ethnicities. The leading causes of cardiovascular diseases are high cholesterol, high blood sugar, high blood pressure or obesity. The likelihood of cardiovascular diseases also rises with age. Substance abuse, excessive alcohol and tobacco consumption can also lead to cardiovascular diseases. The lifestyle changes of the modern world are associated with a sedentary lifestyle, lack of physical exercise, unhealthy ultra-processed, high-in sugar, sodium and fat diet, and rising stress. The growing global geriatric population also adds to the rising disease burden. The increasing prevalence of obesity, given the modern lifestyle, is also a leading cause of rising cardiovascular cases. Obesity is also leading to rising diabetic incidence and high cholesterol, which contribute to the increasing prevalence of cardiovascular diseases. These heart conditions can be treated orally with proper medications. However, cardiac surgeries are long-term and effective solutions with high patient outcomes. Technological advancement also ensures better patient outcomes instilling confidence in patients. The favourable reimbursement policies improve treatment accessibility which also aids in the market's growth. Therefore, cardiovascular disease's growing incidence and prevalence will drive the global cardiac sutures market's growth.

Restraints:

High costs of cardiac surgeries – The public healthcare system of most nations is insufficient to cater to the population's growing needs. The lack of funds, personnel, equipment, devices and medicines are a few factors plaguing the healthcare sector of several nations. The insufficiency and failure of the public healthcare system have led to a market gap that private players are filling. These are privately run entities with a profit-making aim. They offer consumers the best devices, equipment, diagnostics, medication and treatments. These entities employ the most qualified, trained and skilled professionals.

Furthermore, they offer fast-track, customer-centric services. However, all these are expensive. The cost of cardiac surgeries or surgeries in general in the private market is costly. The majority of the population cannot afford these surgeries. The poor insurance coverage exacerbates the problem and makes these surgeries, often life-saving, inaccessible to a significant portion of the global population. Therefore, the high cost of cardiac surgeries will limit the market's growth.

Opportunities:

The rising public healthcare expenditure and introduction of reimbursement policies – The poor state of the healthcare sector was highlighted during the covid19 pandemic. However, the poor state of the public healthcare sector has been a perennial problem for several nations. A lack of funding, qualified personnel, support staff and logistics are some factors responsible for the global healthcare crisis. The rising population has growing healthcare needs, widening the market gap as the supply side has yet to be ramped up parallel to the demand side in the healthcare industry. The private players have exploited this gap and used the consumers while leaving millions without medication or treatment. The average individual is in debt, given the lack of favourable reimbursement policies under the government's ambit. The consistent efforts by civil society, activists and the general populace have led to a renewed fiscal push for funding and policy interventions in recent years. These initiatives were ramped up after the devasting covid-19 pandemic, which highlighted the incompetence of several governments. The increased fiscal spending is targeted towards ramping up healthcare infrastructure by building more medical colleges to have a formidable human resource in the sector. Hospitals, clinics, diagnostic laboratories, research institutes and other important stakeholders have also received similar attention. The focus on creating awareness, improving accessibility and offering affordable healthcare services through policies like Ayushman Bharat by the government of India will propel the market's growth.

Challenges:

The presence of alternative treatments – Cardiovascular diseases are a group of diseases associated with the heart. The range of diseases is mild to severe or life-threatening. Some conditions can be managed by therapeutics and other drugs. The high cost of cardiac surgeries shifts the preference of several patients towards oral medication or other affordable options. Furthermore, technological advancements have enabled the scientific community to develop precision surgery devices. Their surgical procedures are minimally invasive. They have better results and faster healing and recovery. Given the rising research, development and product innovations, these surgeries have better patient outcomes, leave minimal scars and are affordable. Therefore, the presence of alternative and often better treatment options will challenge the market's growth.

Regional segmentation analysis:

The regions analysed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region emerged as the most prominent global cardiac sutures market, with a 46% market revenue share in 2022. The increasing incidence and prevalence of cardiovascular diseases in the region contribute to its dominance in the global market. The significant geriatric population and the high prevalence of obesity leading to high cardiovascular diseases are increasing the patient pool of the region. The unhealthy lifestyle of people with a processed-sugary diet and no physical exercise has contributed to the rising prevalence of cardiovascular diseases. The increasing demand for cardiac surgeries is segmented by the established healthcare industry with an extensive network of hospitals, clinics and ambulatory surgical centres, along with favourable reimbursement policies of the government.

Furthermore, significant regional market players drive innovation, thereby supporting the regional market's growth. Expedited government approval processes and rising fiscal expenditure in the healthcare sector support the region's product developments. Healthcare is more readily available and reasonably priced for the populace due to the high per capita income and the established insurance market with favourable reimbursement policies.

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Product type segment analysis

The product type segment is divided into absorbable sutures and non-absorbable sutures. The absorbable sutures segment dominated the market with a market share of around 58% in 2022. Sutures that can naturally dissolve and be absorbed by the body when a wound heals are called absorbable sutures. They are also referred to as dissolvable stitches. The benefit of using absorbable suture material is that it offers enough tensile strength for wound closure while gradually dissolving. Furthermore, the gradual dissolving reduces the amount of foreign body matter in a wound, lowering the chance of infection. Absorbable sutures are constructed from substances like the fibres that line an animal's intestines. They are also built from synthetic polymers that readily disintegrate inside the body. Absorbable sutures don't require professional removal. Thereby making them perfect for healing surgical incisions and internal wounds. The numerous benefits of absorbable sutures make them ideal for closing surgical sites, particularly tissue inside the body that is difficult to access following surgery. Therefore, these are increasingly adopted in the healthcare industry, especially for cardiac sutures, explaining the segment's dominance in the global market.

Material type segment analysis

The material type segment is divided into synthetic and natural. The synthetic segment dominated the market by around 59% in 2022. These sutures are manufactured from synthetic materials like polyester, nylon, polypropylene, stainless steel, etc. these materials can be utilized to manufacture both absorbable and non-absorbable sutures. They are less reactive than natural materials, making them ideal for multiple surgical procedures. They disintegrate at more controlled and predictable rates as their tensile strength reduces, eventually absorbed into the body. They also aid in rapidly healing wounds and reduce the chances of infections. Synthetic sutures are easy to handle. They are the preferred option in most treatments to prevent the formation of foreign body reactions and dominate the market.

Type segment analysis

The type is divided into monofilament suture and multifilament suture. The multifilament suture segment dominated the market with a market share of around 54% in 2022. Multifilament sutures are constructed by twisting together several threads. Several threads are twisted or braided together to form multifilament sutures. Vicryl is the most known example of a multifilament suture. They are simpler to work with, thereby their wide adoption in cardiac surgeries. They can maintain their shape for strong knot security. They are flexible, enabling their wide application. These multifilament sutures can easily pass through tissue. They are more resilient than monofilament sutures and do not easily come undone. Moreover, multifilament sutures have a high wear resistance rating. Therefore, the numerous benefits of multifilament sutures explain their dominance in the global cardiac sutures market.

End-user segment analysis

The end user is divided into hospitals, clinics, ambulatory surgical centres and others. The hospital segment dominated the market with a market share of around 44% in 2022. a place where people who are ill or injured can receive nursing care, medical attention, and surgery. A hospital is where patients receive medical care and can access specialized medical staff, support staff, and equipment. Hospitals have a variety of support departments, including labs and intensive care units (ICUs), which enable efficient pre-and post-surgery care for the patients and enable surgeons to treat any unanticipated difficulties. Hospitals are well-equipped to handle the challenges. Hospitals are the optimal location for cardiac surgeries since outpatient procedures put patients with heart illnesses at higher risk. Additionally, because they can take longer to heal, may be more likely to experience surgical complications, and may have stronger reactions to anaesthesia, the elderly population, which makes up a sizeable portion of the cardiovascular patient pool, finds hospitals to be more age-appropriate settings.

Some of the Key Market Players:

• Abbott
• Apollo Endosurgery Inc.
• B. Braun SE
• Boston Scientific Corporation
• CONMED Corporation
• DemeTECH Corporation
• Johnson & Johnson Services Inc.
• Medtronic
• Peters Surgical
• Smith & Nephew

Report Description: