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.
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·
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
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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.
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.
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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)
·
Stryker
·
Medtronic
·
Wright Medical Group N.V.
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