Suture Anchors Market Is Predicted to Reach USD 899.4 Million by 2031, Says Allied Market Research

Rise in sports and physical workout related injuries, introduction of new technologies for joint repair such as arthroscopic technique and increase in number of orthopedic injuries and surgeries drive the growth of the global suture anchors market. By product type, the absorbable segment contributed to the major share in 2021. By region, on the other hand, Asia-Pacific would showcase the fastest CAGR by 2031.

Portland, OR, Jan. 26, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global suture anchors market was estimated at $572.5 Million in 2021 and is expected to hit $899.4 Million by 2031, registering a CAGR of 4.6% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

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Report coverage & details:

Forecast Period 2022–2031
Base Year 2021
Market Size in 2021 $572.5 Million
Market Size in 2031 $899.4 Million
CAGR 4.6%
No. of Pages in Report 368
Segments Covered Product Type, Tying Type, Material, End User and Region.
Drivers Rise in sports and physical workout related injuries, introduction of new technologies and increase in number of orthopedic injuries and surgeries
Restraints Strict regulatory rules and high cost
Opportunities Growth potential of emerging economies

Impact of Covid-19 on Suture Anchors Market-

  • Discovery and development of suture anchors product slowed down and surgeries of orthopedic patients were postponed during the pandemic impacted the global suture anchors market negatively.
  • However, as the global situation has recovered, the market has now got back on track.

The global suture anchors market is analyzed across product type, tying type, material, end user and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.

By product type, the absorbable segment held the largest share in 2021, garnering around three-fourths of the global suture anchors market revenue, and is projected to maintain its dominance by 2031. The same segment would also showcase the fastest CAGR of 4.9% during the forecast period.

By tying type, the knotless segment contributed to nearly three-fourth of the global suture anchors market share in 2021, and is projected to rule the roost by 2031. The same segment would also showcase the fastest CAGR of 4.8% during the forecast period.

By material, the bio-composite suture anchor segment accounted for the highest share in 2021, generating nearly half of the global suture anchors market revenue. Other segment, on the other hand, would showcase the fastest CAGR of 5.3% during the forecast period.

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By end user, the ambulatory surgical centers segment accounted for the highest share in 2021, generating nearly half of the global suture anchors market revenue. The hospitals and clinics segment, on the other hand, would showcase the fastest CAGR of 4.7% during the forecast period.

By region, North America held the major share in 2021, garnering more than one-third of the global Suture Anchors Market revenue. Asia-Pacific, simultaneously, would showcase the fastest CAGR of 5.8% from 2022 to 2031.

The key market players analyzed in the global suture anchors market report include Anika Therapeutics Inc, Arthrex, Inc. CONMED Corporation, Johnson and Johnson, Medtronic plc, Ossio Inc., Paragon 28, Inc, Smith & Nephew plc, Stryker Corporation, and Zimmer Biomet Holdings, Inc. These market players have embraced several strategies including product launch, product approval, and acquisition to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.

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“We have also published few syndicated market studies in the similar area that might be of your interest. Below is the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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