Product Code: GVR-4-68040-163-6
Suture Anchor Devices Market Growth & Trends:
The global suture anchor devices market size is expected to reach USD 1.00 billion by 2030, expanding at a CAGR of 3.51% from 2024 to 2030, according to a new report by Grand View Research, Inc. The rising prevalence of orthopedic conditions such as bone fractures, joint dislocations, and ligament tears often require surgical interventions. Suture anchors play a crucial role in stabilizing and securing soft tissues during these procedures. The increasing demand for minimally invasive surgeries (MIS) is another major factor propelling market growth. MIS techniques offer several advantages over traditional open surgeries, such as reduced incision size, minimized tissue trauma, and faster recovery times.
Industry growth can also be attributed to continuous technological advancements, increasing environmental consciousness, and a steadily rising demand for streamlined surgical procedures. For instance, the development of advanced biomaterials is fueling market expansion. These materials possess enhanced biocompatibility, mechanical strength, and resorption properties, making them suited for suture anchors. Bioabsorbable suture anchors, which gradually dissolve over time, are gaining traction due to their ability to eliminate the need for a second surgery for anchor removal.
Several key players are undertaking various initiatives such as acquisitions, product launches, and partnerships to strengthen their market position. This strategy enables companies to increase their capabilities, improve their competencies, and expand their product portfolios. Thus, companies can drive innovation, stay flexible, and quickly respond to the ever-changing needs of suture anchor devices. For instance, in December 2022, Stryker introduced the Citrefix suture anchor system, incorporating Citregen, an acclaimed bioresorbable material engineered to rival natural bone chemistry and structure. This innovative system aims to boost bone regeneration and aid the body's inherent healing mechanisms.
Suture Anchor Devices Market Report Highlights:
- In 2023, non-absorbable products dominated the market for suture anchor devices, owing to a rising prevalence of major orthopedic conditions, such as bone fractures, joint dislocations, and ligament tears, which usually require surgical intervention
- Metallic suture anchors segment held a larger share in terms of material type in 2023, owing to this material's superior mechanical strength, durability, and biocompatibility, making it ideal for use in orthopedic surgeries
- In 2023, the knotless segment dominated with regards to tying type, as it simplifies surgical procedures by eliminating the knot-tying process, thereby saving time and reducing complexity
- The hospitals segment dominated in terms of end-use in 2023, owing to the rising prevalence of orthopedic conditions globally
- North America accounted for the largest market share in 2023 due to this region's well-developed healthcare infrastructure, and high adoption rate of suture anchor products
- Market players adopt several strategic initiatives to improve their product's reach and increase its availability in diverse geographic regions
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.1.1. Product
- 1.1.2. Material type
- 1.1.3. Tying type
- 1.1.4. End-use
- 1.1.5. Regional scope
- 1.1.6. Estimates and forecast timeline
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.3.1. Purchased database
- 1.3.2. GVR's internal database
- 1.3.3. Secondary sources
- 1.3.4. Primary research
- 1.3.5. Details of primary research
- 1.3.5.1. Data for primary interviews in North America
- 1.3.5.2. Data for primary interviews in Europe
- 1.3.5.3. Data for primary interviews in Asia Pacific
- 1.3.5.4. Data for primary interviews in Latin America
- 1.3.5.5. Data for Primary interviews in MEA
- 1.4. Information or Data Analysis
- 1.4.1. Data analysis models
- 1.5. Market Formulation & Validation
- 1.6. Model Details
- 1.6.1. Commodity flow analysis (Model 1)
- 1.6.2. Approach 1: Commodity flow approach
- 1.6.3. Volume price analysis (Model 2)
- 1.6.4. Approach 2: Volume price analysis
- 1.7. List of Secondary Sources
- 1.8. List of Primary Sources
- 1.9. Objectives
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Product outlook
- 2.2.2. Material type outlook
- 2.2.3. Tying type outlook
- 2.2.4. End-use outlook
- 2.2.5. Regional outlook
- 2.3. Competitive Insights
Chapter 3. Suture Anchor Device Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent market outlook
- 3.1.2. Related/ancillary market outlook
- 3.2. Market Dynamics
- 3.2.1. Market driver analysis
- 3.2.1.1. Rising incidence of sports injuries
- 3.2.1.2. Advancements in surgical techniques and materials
- 3.2.1.3. Rising cases of aging population and orthopedic conditions
- 3.2.2. Market restraint analysis
- 3.2.2.1. High cost associated with suture anchor devices
- 3.2.2.2. Risks of complications
- 3.3. Suture Anchor Devices Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's Five Forces
- 3.3.1.1. Supplier power
- 3.3.1.2. Buyer power
- 3.3.1.3. Substitution threat
- 3.3.1.4. Threat of new entrant
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Technological landscape
- 3.3.2.3. Economic landscape
Chapter 4. Suture Anchor Devices Market: Product Estimates & Trend Analysis
- 4.1. Definitions and Scope
- 4.1.1. Absorbable
- 4.1.2. Non-Absorbable
- 4.2. Product Market Share, 2023 & 2030
- 4.3. Segment Dashboard
- 4.4. Global Suture Anchor Devices Market by Product Outlook
- 4.5. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 4.5.1. Absorbable
- 4.5.1.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.5.2. Non-Absorbable
- 4.5.2.1. Market estimates and forecast 2018 to 2030 (USD Million)
Chapter 5. Suture Anchor Devices Market: Material Type Estimates & Trend Analysis
- 5.1. Definitions and Scope
- 5.1.1. Metallic Suture Anchor
- 5.1.2. Bio-Absorbable Suture Anchor
- 5.1.3. Others
- 5.2. Material Type Market Share, 2023 & 2030
- 5.3. Segment Dashboard
- 5.4. Global Suture Anchor Devices Market by Material Type Outlook
- 5.5. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 5.5.1. Metallic Suture Anchor
- 5.5.1.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 5.5.2. Bio-Absorbable Suture Anchor
- 5.5.2.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 5.5.3. Others
- 5.5.3.1. Market estimates and forecast 2018 to 2030 (USD Million)
Chapter 6. Suture Anchor Devices Market: Tying Type Estimates & Trend Analysis
- 6.1. Definitions and Scope
- 6.1.1. Knotted Suture Anchors
- 6.1.2. Knotless Suture Anchors
- 6.2. Tying Type Market Share, 2023 & 2030
- 6.3. Segment Dashboard
- 6.4. Global Suture Anchor Devices Market by Tying Type Outlook
- 6.5. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 6.5.1. Knotted Suture Anchors
- 6.5.1.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 6.5.2. Knotless Suture Anchors
- 6.5.2.1. Market estimates and forecast 2018 to 2030 (USD Million)
Chapter 7. Suture Anchor Devices Market: End-use Estimates & Trend Analysis
- 7.1. Definitions and Scope
- 7.1.1. Hospitals
- 7.1.2. Ambulatory Surgical Centers
- 7.1.3. Clinics
- 7.2. End-use Market Share, 2023 & 2030
- 7.3. Segment Dashboard
- 7.4. Global Suture Anchor Devices Market by End-use Outlook
- 7.5. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 7.5.1. Hospitals
- 7.5.1.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 7.5.2. Ambulatory Surgical Centers
- 7.5.2.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 7.5.3. Clinics
- 7.5.3.1. Market estimates and forecast 2018 to 2030 (USD Million)
Chapter 8. Suture Anchor Devices Market: Regional Estimates & Trend Analysis
- 8.1. Regional Market Share Analysis, 2023 & 2030
- 8.2. Regional Market Dashboard
- 8.3. Global Regional Market Snapshot
- 8.4. Market Size, & Forecasts Trend Analysis, 2018 to 2030:
- 8.5. North America
- 8.5.1. U.S.
- 8.5.1.1. U.S. market estimates and forecast, 2018 - 2030 (USD Million)
- 8.5.2. Canada
- 8.5.2.1. Canada market estimates and forecast, 2018 - 2030 (USD Million)
- 8.6. Europe
- 8.6.1. UK
- 8.6.1.1. UK market estimates and forecast, 2018 - 2030 (USD Million)
- 8.6.2. Germany
- 8.6.2.1. Germany market estimates and forecast, 2018 - 2030 (USD Million)
- 8.6.3. France
- 8.6.3.1. France market estimates and forecast, 2018 - 2030 (USD Million)
- 8.6.4. Italy
- 8.6.4.1. Italy market estimates and forecast, 2018 - 2030 (USD Million)
- 8.6.5. Spain
- 8.6.5.1. Spain market estimates and forecast, 2018 - 2030 (USD Million)
- 8.6.6. Norway
- 8.6.6.1. Norway market estimates and forecast, 2018 - 2030 (USD Million)
- 8.6.7. Sweden
- 8.6.7.1. Sweden market estimates and forecast, 2018 - 2030 (USD Million)
- 8.6.8. Denmark
- 8.6.8.1. Denmark market estimates and forecast, 2018 - 2030 (USD Million)
- 8.7. Asia Pacific
- 8.7.1. Japan
- 8.7.1.1. Japan market estimates and forecast, 2018 - 2030 (USD Million)
- 8.7.2. China
- 8.7.2.1. China market estimates and forecast, 2018 - 2030 (USD Million)
- 8.7.3. India
- 8.7.3.1. India market estimates and forecast, 2018 - 2030 (USD Million)
- 8.7.4. Australia
- 8.7.4.1. Australia market estimates and forecast, 2018 - 2030 (USD Million)
- 8.7.5. South Korea
- 8.7.5.1. South Korea market estimates and forecast, 2018 - 2030 (USD Million)
- 8.7.6. Thailand
- 8.7.6.1. Thailand market estimates and forecast, 2018 - 2030 (USD Million)
- 8.8. Latin America
- 8.8.1. Brazil
- 8.8.1.1. Brazil market estimates and forecast, 2018 - 2030 (USD Million)
- 8.8.2. Mexico
- 8.8.2.1. Mexico market estimates and forecast, 2018 - 2030 (USD Million)
- 8.8.3. Argentina
- 8.8.3.1. Argentina market estimates and forecast, 2018 - 2030 (USD Million)
- 8.9. MEA
- 8.9.1. South Africa
- 8.9.1.1. South Africa market estimates and forecast, 2018 - 2030 (USD Million)
- 8.9.2. Saudi Arabia
- 8.9.2.1. Saudi Arabia market estimates and forecast, 2018 - 2030 (USD Million)
- 8.9.3. UAE
- 8.9.3.1. UAE market estimates and forecast, 2018 - 2030 (USD Million)
- 8.9.4. Kuwait
- 8.9.4.1. Kuwait market estimates and forecast, 2018 - 2030 (USD Million)
Chapter 9. Competitive Landscape
- 9.1. Recent Developments & Impact Analysis, By Key Market Participants
- 9.2. Company/Competition Categorization
- 9.3. Vendor Landscape
- 9.3.1. List of key distributors and channel partners
- 9.3.2. Key customers
- 9.3.3. Key company market share analysis, 2023
- 9.3.4. Smith & Nephew plc
- 9.3.4.1. Company overview
- 9.3.4.2. Financial performance
- 9.3.4.3. Product benchmarking
- 9.3.4.4. Strategic initiatives
- 9.3.5. Zimmer Biomet Holdings
- 9.3.5.1. Company overview
- 9.3.5.2. Financial performance
- 9.3.5.3. Product benchmarking
- 9.3.5.4. Strategic initiatives
- 9.3.6. CONMED Corporation
- 9.3.6.1. Company overview
- 9.3.6.2. Financial performance
- 9.3.6.3. Product benchmarking
- 9.3.6.4. Strategic initiatives
- 9.3.7. Arthrex, Inc.
- 9.3.7.1. Company overview
- 9.3.7.2. Financial performance
- 9.3.7.3. Product benchmarking
- 9.3.7.4. Strategic initiatives
- 9.3.8. Johnson and Johnson (DePuy Synthes, Inc.)
- 9.3.8.1. Company overview
- 9.3.8.2. Financial performance
- 9.3.8.3. Product benchmarking
- 9.3.8.4. Strategic initiatives
- 9.3.9. Stryker Corporation
- 9.3.9.1. Company overview
- 9.3.9.2. Financial performance
- 9.3.9.3. Product benchmarking
- 9.3.9.4. Strategic initiatives
- 9.3.10. Parcus Medical
- 9.3.10.1. Company overview
- 9.3.10.2. Financial performance
- 9.3.10.3. Product benchmarking
- 9.3.10.4. Strategic initiatives
- 9.3.11. Wright Medical
- 9.3.11.1. Company overview
- 9.3.11.2. Financial performance
- 9.3.11.3. Product benchmarking
- 9.3.11.4. Strategic initiatives
- 9.3.12. Orthomed
- 9.3.12.1. Company overview
- 9.3.12.2. Financial performance
- 9.3.12.3. Product benchmarking
- 9.3.12.4. Strategic initiatives
- 9.3.13. Enovis
- 9.3.13.1. Company overview
- 9.3.13.2. Financial performance
- 9.3.13.3. Product benchmarking
- 9.3.13.4. Strategic initiatives