Suture Anchors Market By Product Type (Absorbable, Non-Absorbable), By Tying Type (Knotless, Knotted), By Material (Bio-composite Suture Anchor, PEEK Suture Anchor, Others), By End User (Hospitals and Clinics, Ambulatory Surgical Centers): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global Suture anchors market accounted for $572.5 million in 2021, and is expected to reach $899.4 million by 2031, registering a CAGR of 4.6% from 2022 to 2031.
Suture anchors are widely used for securing soft tissue (such as tendons, ligaments, and menisci) to the bone and have become crucial tools in arthroscopic surgery and sports medicine. Suture anchors are evolving constantly to become safer and more effective. In addition, the invention of suture anchors has revolutionized orthopedic surgery as it enables quick and simple fixation of soft tissue (such as tendons and ligaments) to the bone in both open and arthroscopic surgery around the shoulder, elbow, wrist, and lower limb joints. The methods employed in shoulder surgery, specifically the open repair of the rotator cuff & labrum with screws, washers, transosseous sutures, & staples and the arthroscopic repair with suture anchors, have undergone a major modification.
The suture anchors market is expected to experience significant market growth during the forecast period owing to the increasing geriatric population suffering from orthopedic illness, advancement in the technology, s, boost in healthcare expenditure, and higher government support. In addition, surge in investment by players on R&D, presence of robust pipeline candidates, and rise in expenditure on the development of healthcare infrastructure further facilitate the growth of the market. However, strict and extended product approval processes are expected to impede the market growth. In contrast, upsurge in healthcare investments in public as well as private sectors are anticipated to provide significant growth opportunities for the suture anchors market.
The suture anchors market is segmented on the basis of product type, tying type, material, end user, and region. Depending on product type, the market is classified into absorbable and non-absorbable. On basis of tying type, the market is bifurcated into knotless and knotted. Depending on material, the market is segregated into bio-composite suture anchor, peek suture anchor/ biostable, and others. By end user, the market is classified into hospitals & clinics and ambulatory surgery centers.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The report provides a comprehensive analysis of the key players that operate in the global Suture anchors market. The key companies profiled in the report include Anika Therapeutics Inc, Arthrex, Inc. CONMED Corporation, Johnson and Johnson, Medtronic plc, Ossio Inc., Paragon 28, Inc, Smith & Nephew plc, Stryker Corporation, and Zimmer Biomet Holdings, Inc.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the suture anchors market analysis from 2021 to 2031 to identify the prevailing suture anchors market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the suture anchors market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global suture anchors market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
Absorbable
Non-Absorbable
By Tying Type
Knotless
Knotted
By Material
Bio-composite Suture Anchor
PEEK Suture Anchor
Others
By End User
Hospitals and Clinics
Ambulatory Surgical Centers
By Region
North America
U..S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Johnson and Johnson
Anika Therapeutics Inc.
Paragon 28, Inc
Stryker Corporation
Zimmer Biomet Holdings, Inc.
Arthrex, Inc.
Ossio Inc.
Medtronic plc
Smith & Nephew plc
CONMED Corporation
Please Note: It will take 7-10 business days to complete the report upon order confirmation.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook