Cardiac Sutures Global Market Report 2023
Major players in the cardiac sutures market are Abbott Laboratories, Medtronic Plc., Johnson And Johnson, B. Braun SE, Teleflex Incorporated, Smith & Nephew plc, Boston Scientific Corporation, CONMED Corporation, Deme TECH Corporation, Apollo Endosurgery Inc.
New York, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cardiac Sutures Global Market Report 2023" - https://www.reportlinker.com/p06486469/?utm_source=GNW
, Cryolife Inc., W. L. Gore & Associates Inc., Peters surgical, Stryker Corporation, and Ethicon Inc.
The global cardiac sutures market is expected to grow from $1.27 billion in 2022 to $1.39 billion in 2023 at a compound annual growth rate (CAGR) of 9.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cardiac suture market is expected to reach $1.94 billion in 2027 at a CAGR of 8.7%.
The cardiac sutures market consists of sales of stainless steel, polypropylene, and polyester sutures and suture anchors.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Cardiac sutures are medical devices that close incisions or wounds in the heart or surrounding tissues during cardiac surgery. The stitches are made using a needle and a thread-like material and are used to close incisions or repair damage to the heart tissue.
North America was the largest region in the cardiac sutures market in 2022. The regions covered in cardiac sutures report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of cardiac sutures are absorbable and non-absorbable.Absorbable sutures refer to sutures that naturally disintegrate and are absorbed by the body as wound repairs.
It uses natural and synthetic materials and is used by various end-users such as hospitals, clinics, ambulatory surgical centers, and others.
The rising prevalence of cardiovascular diseases is expected to propel the growth of the cardiac suture market going forward.Cardiovascular disease refers to conditions that affect the heart or blood vessels.
Cardiac sutures are used to close wounds and provide the mechanical support necessary to sustain closure after cardiovascular surgeries. For instance, in October 2022, according to a report published by the Centers for Disease Control and Prevention, a US-based public health agency, about 20.1 million individuals aged 20 and older have cardiovascular diseases. Furthermore, in January 2023, according to a report published by the American Heart Association, a US-based organization that funds heart disease medical research, cardiovascular disease (CVD) remains the most common cause of death in the US, accounting for 928,741 deaths in 2020. Therefore, the rising prevalence of cardiovascular diseases will drive the cardiac sutures market.
Product innovation is a key trend gaining popularity in the cardiac suture market.Major companies operating in the cardiac suture market are working on new product innovations to sustain their position in the market.
For instance, in January 2023, Able Medical Devices., a US-based medical equipment manufacturer, launched its Valkyrie looped sternotomy sutures, especially for use after open heart surgeries. This innovative product uses stainless steel sutures to close a patient’s chest after open heart surgery. Compared to traditional wire sutures, Valkyrie doubles the surface area of single wires and provides a more robust sternal closure. It is designed to reduce the risk of sternal dehiscence, a severe complication that can occur after sternotomy procedures. It also contains unique features such as a looped design, high tensile strength, minimal invasiveness, ease of use, and helps improve patient outcomes.
In December 2020, Zimmer Biomet Holdings Inc., a US-based corporation, acquired A&E Medical Corporation for $150 million. The acquisition broadens Zimmer’s current portfolio, allowing it to offer a comprehensive suite of sternal closure products, including rigid fixation, with the potential to shift the standard of care and address a variety of unmet patient and surgical needs. A&E Medical Corporation is a US-based designer and manufacturer of high-strength sternum closure devices and a comprehensive range of temporary cardiac pacing wires, extension leads, and stainless steel sutures.
The countries covered in the cardiac sutures market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The cardiac sutures market research report is one of a series of new reports that provides cardiac sutures market statistics, including cardiac sutures industry global market size, regional shares, competitors with a cardiac sutures market share, detailed cardiac sutures market segments, market trends, and opportunities, and any further data you may need to thrive in the cardiac sutures industry. This cardiac sutures market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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