Suture Anchors Market (By Type: Absorbable and Non-absorbable; Tying Type: Knotted and Knotless; By Anchoring System: Barbed Anchor, Screw Fit Anchor, and Others; By Material; By End Users) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2021-2030

Published Date : Jul 2021 | No. of Pages : 150+ Pages | Category : Healthcare

The global suture anchors market value reached at US$ 0.5 Bn in 2020 and predicted to reach US$ 1 billion by 2030, expanding at a noteworthy CAGR of 5.1% from 2021 to 2030.

Suture anchors are designed to heal the soft tissue of the bone. Suture anchor fixation is one of the most important innovations in arthroscopic surgeries. The original suture anchor was reported to be developed over three decades ago. There is mention of suture anchors made from flax, hemp, and hair by Sushruta, the ancient Indian plastic surgeon.

Major Driver

Sports injuries are a major concern during sports or exercise. Sport injuries involve the musculoskeletal system, which includes muscles, tendons, ligaments, fascia, nerves, bones, and tissues.

Sports injuries are primarily caused due to falls, overexertion, and fracture. The most common sites of injury during sports and recreation activities are lower extremity, upper extremity, and head & neck.

A range of suture materials is available for medical purposes. The primary types are absorbable and non-absorbable. Development of classes of suture materials based on their properties and capabilities to improve tissue approximation and wound closure has increased in the past few years.

Current and emerging trends in the suture technology include knotless barbed sutures, antimicrobial sutures, bio-active sutures such as drug-eluting and stem cells seeded sutures, and smart sutures, including elastic and electronic sutures.

These newer options expand the versatility of sutures from being used as a physical entity approximating opposing tissues to a more biologically active component enabling delivery of drugs and cells to the desired site with significant application potential in both therapeutics and diagnostics.

Several Orthopedic Procedures Postponed Amid COVID-19 Crisis

With the ongoing spread of the COVID-19 pandemic, businesses across the world are increasingly flattening their recessionary curve by leveraging the technology. Many companies will experience response, recovery, and restoration phases. Building market resilience and allowing agility will aid businesses to move forward in their journey out of the coronavirus crisis toward the post-crisis times. The pandemic has been posing an immeasurable influence on the global economy, and, in turn, on the global suture anchors market. Furthermore, lockdown, quarantines, restricted supply chain, and social distancing activities on a broad large scale force an abrupt slump in business and consumer spending until the end of 2021.

Before the COVID-19 pandemic, the United States recorded around 500 thousand rotator cuff surgeries annually. However, the COVID-19 pandemic has had a two-fold consequence on orthopedic procedure volumes. Lockdowns and regulatory restrictions on sports events and outdoor exercises have decreased the frequency of sports-related injuries. The number of elective orthopedic procedures declined by COVID-19 restrictions, as many procedures were postponed to prevent the spread of the virus. While the decline in sports medicine associated procedures was notable in 2020, procedure volumes are projected to return to pre-COVID-19 levels post-crisis. Moreover, with the rapid progress in vaccine distribution and advancement in medical facilities, restrictions are expected to restore soon, and rise in the demand for the suture anchors market is predicted soon after the crisis ends.

Surgeons Worldwide Require Peculiar Suture Anchors for Different Procedures

Suture anchors are growing in demand for their different types and procedures for different tissues. Presently, there are many types of suture anchors available for surgeons to choose from depending on the situation. Most of the suture anchors are barbed, a screw, or a rivet type of bone fastener. Current suture anchors have had an advanced edge, which can be either injected into a pre-drilled hole or directly screwed into the bone. These bone anchors also have a fixed to or entirely mobile suture mount (suture eyelet) inside the anchor system itself. Barbed suture anchors have fins orientated longitudinally. They are elastically distorted on compression and plastically distorted on distraction, and thus, hold on to the bone well once inserted.

Screw fit anchors are similar to a standard screw, but instead of a head, there is an eyelet to adjust the suture strands. However, screw anchors have a higher load to failure value than non-screw designs. The biodegradable anchors have a lower load to failure compared with metal anchors. Under cyclic-loading circumstances, anchor fixation strength is reduced compared to single-pullout tests. The suture anchor interface is understood to be the weakest link. Mostly, the suture can wear at the opening and hence, the use of larger suture elements with larger anchors can provide a better strength before failure. Suture damage at the knot is the popular failure mode for biodegradable anchors injected into cortical bone.

The knotless tissue anchor has been upgraded to cater to the enhanced volume of arthroscopic procedures. Surgeons can find knot tying challenging, and knots are known to be the vulnerable point in tissue repairs. Although knotless anchors have a similar pullout force to knot-tying anchors, they have an increased gap formation if there is an instant loading. Nevertheless, each type of suture anchors is proving useful in different procedures in different circumstances. Thus, the global suture anchors market is expected to grow during the forecast period.

Prominent Regions

North America held a major share of the global suture anchors market in 2020. Presence of key players and growth strategies adopted by these players are the major factors driving the suture anchors market in the region. Europe accounted for the second largest share of the global suture anchors market in 2020. The growth of the market in the region can be attributed to a well-developed healthcare sector. The suture anchors market in Asia Pacific is likely to grow at a rapid pace during the forecast period. Technological developments in suture anchors are likely to propel the market in the region.

Key Players

Leading players operating in the global suture anchors market include Smith & Nephew plc, CONMED Corporation, Johnson and Johnson (DePuy Synthes), Zimmer Biomet Holdings, Inc., Arthrex, Inc., Stryker, Medtronic, Wright Medical Group N.V., Cook Group Incorporated, Aju Pharm Co., Ltd., ALEDA, BMT, Groupe Lépine, In2Bones, MedShape, Inc., Tulpar Medical Solutions and VIMS.

Market Segmentation

By Product Type

  • Absorbable
  • Non-absorbable

Suture Anchors Market, by Tying Type

  • Knotted
  • Knotless

By Anchoring System

  • Barbed Anchor
  • Screw Fit Anchor
  • Others

By Material

  • Metallic Suture Anchor
  • Bio-absorbable Suture Anchor
  • PEEK Suture Anchor
  • Bio-composite Suture Anchor
  • Others

By End User

  • Hospitals
  • Ambulatory Surgery Clinics
  • Clinics
  • Others

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of the Europe
  • Asia Pacific     
    • Malaysia
    • Thailand
    • Indonesia
    • Vietnam
    • China
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Report Scope

 

The Suture anchors market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Suture anchors market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Suture anchors market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Suture anchors market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Suture anchors market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Suture anchors capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Suture anchors by regions (countries) and application.

In this study, the years considered to estimate the market size of Suture anchors are as follows:

  • History Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2030

Major Key Points Covered in Report:

Executive Summary: It includes key trends of the Suture anchors market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the Suture anchors market based on production and revenue.

Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.

Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Suture anchors market.

Market Segments: This part of the report discusses about product, application and other segments of the Suture anchors market based on market share, CAGR, market size, and various other factors.

Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

 


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