The suture anchor devices market size is estimated to be USD 692.3 million in 2022 and is expected to witness a CAGR of 7.81% during the forecast period 2023-2033. The aging population, increasing usage of minimally invasive surgeries, technological developments and research in the area of suture anchor devices, and expanding awareness level of suture anchor devices are factors contributing to the market growth. However, lack of knowledge regarding devices and escalating use of substitutes is expected to hinder growth.

Segmentation

By Product Type

On the basis product type, the market is divided into absorbable and non-absorbable. In 2022, the absorbable segment is expected to be the largest segment due to the fact that absorbable sutures have advanced technically and surgeons are using them more frequently.

By Tying Type

On the basis of tying type, the market is segregated into knotless, knotted. In 2022, the knotted segment is expected to be the largest segment due to its minimum adverse effects and it also facilitates soft tissue repair to bone using a suture anchor.

By Material Type

In terms of type, the market is categorized into peek suture anchor, bio-absorbable suture anchor, metallic suture anchor, bio-composite suture anchor, and all suture. In 2022, the bio-composite suture anchor segment is expected to be the largest segment owing to the increasing demands for bio-composites suture anchors, benefits of using bio-composites suture anchors during surgery, which include enhanced suture visibility, rapid insertion and removal.

By End Users

Based on end users, the market is segmented into ambulatory surgical centers, hospitals, and others. In 2022, the ambulatory surgical centers segment is expected to be the largest segment owing to the rising awareness of suture anchors, expanding the application of minimally invasive techniques, strengthening the healthcare system, and surging public awareness about current medical technologies.

Regional Markets

In 2022, North America region accounted for the highest revenue in the suture anchor devices market and is expected to maintain its dominance during the forecast period. This is attributed to the increase in healthcare facilities and the rise in the frequency of orthopaedic operations. However, the Asia Pacific region is predicted to grow at the fastest rate during the projection period owing to the expanding awareness of advanced medical technology in the region, and improved healthcare infrastructure.

Competitor Insights

Some of the key players operating in the suture anchor devices market are Johnson and Johnson (DePuy Synthes, Inc. (US), ConMed Corporation (US), Stryker Corporation (US), Smith & Nephew plc (UK), Parcus Medical, LLC. (US), Arthrex, Inc.  (US), Medtronic plc. (Ireland), Zimmer Biomet Holdings, Inc.  (US), and Wright Medical (US).

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including product type, tying type, material type, and end user from 2023 to 2033.

Report Scope:

Segmentation: Suture Anchor Devices Market Report 2022 – 2033

Product Type (Revenue, USD Million), 2022 – 2033

• Absorbable
• Non-absorbable

Tying Type (Revenue, USD Million), 2022 – 2033

• Knotless
• Knotted

Material Type (Revenue, USD Million), 2022 – 2033

• Peek Suture Anchor
• Bio-Absorbable Suture Anchor
• Metallic Suture Anchor
• Bio-Composite Suture Anchor
• All Suture

End User (Revenue, USD Million), 2022 – 2033

• Ambulatory surgical centers
• Hospitals
• Others

By Region (Revenue, USD Million), 2022 – 2033

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA