Suture Anchors Market: Introduction
According to the report, the global suture anchors market was valued at US$ 0.6 Bn in 2020 and is projected to expand at a CAGR of ~5% from 2024 to 2031. 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. In terms of type, the global suture anchors market has been bifurcated into absorbable and non-absorbable. Based on tying type, the global suture anchors market has been classified into knotted and knotless.
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In terms of anchoring system, the global suture anchors market has been categorized into barbed anchor, screw fit anchor, and others. Based on material, the global suture anchors market has been segregated into metallic suture anchor, bio-absorbable suture anchor, PEEK suture anchor, bio-composite suture anchor, and others. In terms of end user, the global suture anchors market has been divided into hospitals, ambulatory surgery clinics, clinics, and others.
Suture Anchors Market: 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.
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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.
Suture Anchors Market: Key Players
Key players are expanding their footprint to consolidate their positions in the global suture anchors market due to lucrative opportunities to increase their share. Hence, manufacturers engage in new development, collaborations, and distribution to gain market share.
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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.
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