Suture Anchors Market: Introduction
- Suture Anchor is a fixation device used in arthroscopic repairs. Suture anchors are used where inadequate soft tissues are present that are unable to repair injuries in those areas.
- Recent developments in suture anchor design and techniques have resulted in its increased usage for fixing musculoskeletal tissues of hips, elbow, hand, knee, foot, and ankle. Suture anchors are made of anchor, eyelet, and suture.
- Anchors are inserted into the bone. These anchors are made of metal or biodegradable materials, while eyelet is a loop in the anchor from which suture passes. Suture can be made using absorbable or non-absorbable material.
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Key Drivers and Restrain of Global Suture Anchors Market
- Orthopedic injuries in geriatric population is expected to drive the suture anchor market during the forecast period. According to the United Nations University (UNU) estimates, the percentage of the world population above the age of 65 years is anticipated to increase from 9% in 2010 to 16% by 2050.
- Surge in the adoption of minimal invasive surgeries and rise in awareness about suture anchor are factors that are projected to propel the global suture anchors market during the forecast period. Suture anchors are widely used in minimal invasive surgeries in orthopedics.
- Demand for minimally invasive surgeries is increasing due to its benefits over open surgeries, such as minimal bleeding, lesser postoperative infection chances, fewer complications, shorter hospital stay, and early recovery
- Varying degree of tissue reaction due to suture anchors could hamper market growth during the forecast period
Development of Advanced Suture Anchors to Offer Attractive Opportunities
- Advancement in suture anchor design and technology will provide advanced and effective tissue reattachment. Various organizations are carrying out research and development for advanced suture anchors with better material offering higher advantage.
- In 2016, Stryker launched the sonic anchor that operates through ultrasonic energy, which liquefy and flow into the cancellous bone
Hospitals End-user and Bio-composite Suture Anchor Material Segments to Witness Significant Growth
- Bio-composite suture anchors are the most preferred material type. The demand for bio-composite suture anchors is expected to propel during the forecast period, as they provide excellent visibility of implants during surgeries. Moreover, these have fast insertion and improved fixation strength throughout the healing period.
- Demand for suture anchor is increasing rapidly due to the rise in the number of hospitals and government support to offer improved health care services, especially in Asia Pacific, Latin America, Africa, and the Middle East
- According to the Central Bureau of Health Intelligence, the number of government hospitals in India increased from 4,571 in 2000 to 11,993 in 2011. Additionally, significant rise in the number of hospitals in Asia Pacific, Africa, the Middle East, and Latin America is likely to boost the suture anchors market.
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North America to Hold Major Share of Global Suture Anchors Market
- In terms of region, the global suture anchor market can be segmented into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America was the leading market for suture anchors in 2018 due to technological advancements, new product launches, and high disposable income of people. Europe was the second largest market for suture anchors in 2018 due to better reimbursement policies and a well-established health care sector in the region.
- The suture anchors market in Asia Pacific is expected to be driven by the increase in health care infrastructure. Furthermore, orthopedic injuries in sports and accidents are anticipated to drive the suture anchors market during the forecast period.
Key Players Operating in Global Market
The global suture anchors market is highly fragmented. Some of the few key players operating in the global suture anchors market are:
- Smith & Nephew
- Zimmer Biomet
- CONMED Corporation
- Arthrex, Inc.
- Johnson and Johnson (DePuy Synthes)
- Wright Medical Group N.V.
Global Suture Anchors Market: Research Scope
Global Suture Anchors Market, by Type
Global Suture Anchors Market, by Material
- Metallic Suture Anchor
- Bio-absorbable Suture Anchor
- PEEK Suture Anchor
- Bio-composite Suture Anchor
- All Sutures
Global Suture Anchors Market, by Typing Type
Global Suture Anchors Market, by End-user
- Ambulatory Surgical Centers
- Specialty Clinics
Global Suture Anchors Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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