According to FutureWise analysis the market for knotless suture anchors in 2023 is US$ 10.48 billion, and is expected to reach US$ 15.86 billion by 2031 at a CAGR of 5.32%.
The procedure is less invasive and requires a shorter recovery period thanks to knotless suture anchors. Arthroscopy refers to the treatment of joint problems using minimally invasive procedures. This method presents a challenge in that it requires the use of consistent, high-quality arthroscopic stitches. It is also time-consuming. The tail end is made up of the short loop portion of the suture. The use of knotless suture anchors has allowed for greater versatility and reduced time required to complete the procedure. Due to the shift towards high-quality joint surgeries, the market for knotless suture anchors is expected to grow in the future. The minimally invasive treatment for joint damage is called arthroscopy. It is difficult to tie consistent and high-quality arthroscopic stitches. This process can be frustrating and takes time to master. To make the arthroscopic bankart repairs easier, knotless suture anchors were introduced. The tail end is made up of a short loop of suture. They have made the procedure easier and more flexible while reducing the time required. The market for knotless suture anchors is likely to grow in the next decade due to the shift toward high-quality joint procedures. The market for knotless suture anchors will grow due to increased demand for minimally invasive surgery and increased arthroscopic procedures in the elderly population. Healthcare providers will likely increase spending on suture anchors and other advanced medical devices as the population ages. This will help to expand their growth opportunities.
Most manufacturers of knotless suture anchors will be able to find potential revenue streams in developed countries. Due to the general increase in the global geriatric population, the global market for knotless suture anchors will experience steady growth. The demand for absorbable knotless anchors will increase to provide more precise and successful outcomes than the non-absorbable ones. Additionally, the increasing incidence of injuries to joints and shoulders is driving demand for knotless suture anchors. Manufacturers are also implementing the latest technology to create new products that will fuel the growth of the knotless suture anchors industry. The demand for medical supplies has increased to care for infected patients. The most commonly used medical devices in primary care are respirator support devices, such as monitors, oxygen generators, and life-support machines. Due to an increase in COVID-19 cases, there is an increase in demand for medical supplies from both healthcare professionals and the civil population. These products offer manufacturers the opportunity to capitalize on this growing demand for medical supplies to provide an adequate and continuous supply of personal protective equipment.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Knotless Suture Anchors Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Knotless Suture Anchors Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.