Knotless Tissue Control Devices Market Trends

Growth Drivers

• Increasing number of surgeries performed are expected to boost the market – During the assessment period, a growing number of surgeries are expected to benefit the industry. In the years ahead, the industry is expected to be driven by an increase in the number of knee replacement surgery, bypass surgeries, hip replacements, and cosmetic procedures. Based on a National Centre for Biotechnology Information report, approximately 30% of elderly people fall due to difficulties moving, which is the leading cause of knee replacement surgical operations.

• High Expenditure in the Healthcare Industry Owing to Increasing Investments – The recent data showed that the global spending on the healthcare industry was approximately USD 9 trillion in the year 2020, an increase from just USD 7 trillion in 2015. 

• Rise in Cosmetic Surgeries with Increasing Disposable Income and Inborn Deformities – The recent statistics reveal that in the United States, approximately USD 10 billion amount of revenue was garnered through surgical cosmetic procedures in 2021. Further, the total amount of revenue generated from surgical and nonsurgical cosmetic procedures stood up at around USD 16 billion in 2021.
• Escalation in the Number of Hospitals with Rising Concern on Healthcare - As per the Organization for Economic Co-operation and Development, the number of hospitals in the United States rose from 5,564 in 2015 to 6,090 in 2019.

Challenges

• High Surgical Site Infection - It is observed that there are possibilities for the occurrence of post-operational complications in the unidirectional knotless sutures. This will enhance the risk of surgical site infection. Also, the results are not the same in all the surgeries but there is no blood loss.

• High Cost of Antibacterial Equipment

• Easy Availability of Other Wound Healing Products