Automated Suturing Devices Market Size & Growth Analysis is Expected to Reach $1,081.7 Million By 2030, At CAGR of 6.3%
The global automated suturing devices market size is expected to reach USD 1,081.7 million by 2030 according to a new study by Polaris Market Research.
The expanding senior population is a major factor driving the market for automated suturing devices forward. The current situation is radically different. Declining birth rates and a significant increase in life expectancy are driving this shift. In the next ten years, the aging population is expected to expand at a steady rate. According to the World Health Organization (WHO), the number of persons aged 60 and more was around 900 million in 2015. It is expected to rise to nearly 2.0 billion by 2050, with most of the growth occurring in developing nations. Between 2015 and 2050, the proportion of the population aged 60 or older will double, from 12% to 22%. 80% of the world’s elderly will reside in low- and middle-income countries by 2050.
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By the end of 2050, China’s population of 65 and more is predicted to reach 330 million, up from 110 million in 2014. Despite this, India’s elderly population is expected to increase to 227 million by 2050, up from 60 million in 2015. People aged 60 and up are at a higher risk of developing ailments like cardiovascular, orthopedic, and neurological problems. As a result, the need for automated suturing devices is predicted to rise as the senior population grows and surgical procedures become more common.
Based on the application, the cardiac segment accounted for the leading share in 2021. The increased prevalence of cardiovascular diseases and an increase in the number of surgical procedures are driving the segment’s rise. Coronary heart disease and ischemic heart disease are the most common causes of death worldwide.
Besides, rising tobacco smoking rates, per capita pure alcohol consumption, hypertensive, and others raise the risk of heart attack, heart problems, and stroke, increasing the Cardiovascular population. The increased prevalence of these risk factors contributes to the rise in Cardiovascular cases. As a result, increased cigarette smoking significantly increases the risk factors, enhancing the industry. In the United States, tobacco smoking was the second greatest cause of disability-adjusted life-years in 2016. In 2019, smoking was responsible for 8.7 million deaths worldwide.
Market players include Medtronic, Boston Scientific, LSI Solutions, Inc., EndoEvolution, Sutrue, Apollo Endosurgery, Smith & Nephew, and BD are some key players operating worldwide. In June 2021, the “ENSEAL X1 Curved Jaw Tissue Sealer” a new advanced bi-directional device that optimizes efficiency and provided greater access to more tissue compared to LigaSure, has been launched by the Ethicon.
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Polaris Market Research has segmented the automated suturing devices market report based on product, application, end-use, and region:
Automated Suturing Devices, Product Outlook (Revenue – USD Million, 2018 – 2030)
Automated Suturing Devices, Application Outlook (Revenue – USD Million, 2018 – 2030)
Automated Suturing Devices, End-Use Outlook (Revenue – USD Million, 2018 – 2030)
- Ambulatory Surgical Centers
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