Suture Needle Market Booming at 3.1% of CAGR with International Top Players like Medtronic Plc., B. Braun Melsungen AG, Johnson & Johnson Services, Inc., Ethicon US, LLC till 2023

Suture Needles Market - Segmentation

The Global Suture Needles Market is segmented on the basis of shape, type, and end-users.

On the basis of the shape, the market is classified into straight shaped needles, j shape needles, compound curve shaped needles, half curved, and others. On the basis of the type, the market is segmented into eyed, and eyeless needles. On the basis of the end -users, the market is segmented into ambulatory surgical centers, hospital, and clinics, and others.

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Suture Needles Market - Key Players

Some of key the players in the market are Roboz Surgical Instrument, Hu-Friedy Mfg. Co., LLC, Hill-Rom, Medline Industries, Inc., Medtronic Plc, B. Braun Melsungen AG, Johnson & Johnson Services, Inc., and others.

Suture Needles Market - Competitive Analysis

The suture needles market is a fairly grown market however, going through not so great phase of its development. Through extensive research it is found out that the market players have adopted the strategy of making acquisition and agreements by acquiring various market shares and rights and involving them in agreements with other organization for the branding of the product. Update and launches was the second most widely adopted strategy which was adopted by the key market players.

There are currently few top companies that operate in the market such as Medtronic plc, Johnson & Johnson, and B. Braun Melsungen AG. Apart from that there are number of companies that are involved in the development of various products and are catering to a global or regional customers. These companies have had some key developments in recent years that have helped in the growth of the suture needle market.

On August 21, 2017, ETHICON, a subsidiary of J&J, launched PROXISURE™ Suturing Device to improve precision in minimally invasive surgery.

On March 7, 2017, Ethicon acquired NeuWave Medical, Inc.

In August 2016, Ethicon US, LLC had announced the strategic collaboration with Touch Surgery that will help patient with free mobile app that can reach medical help in even remote regions.

In August 2016, Ethicon US, LLC announced the launch of unmatched knotless suture portfolio with launch of stratafix spiral plus devices. With this addition of this new suture technology the company has established the most comprehensive and unmatched knotless suture offering available to surgeons in the U.S.

In June 2016, B. Braun Melsungen AG announced that it has acquired 51% of DIALY SER S.A.S., Colombia

In Jan 2016, Surgical Specialties Corporation announced that it has acquired all the shares of leading German needle and suture manufacturer; FSSB Chirurgische Nadein GMBH (FSSB). This acquisition will create the company one of the leaders in manufacturing surgical suture in the world.

In June 2015, Medtronic plc. acquired Covidien plc. to broaden their product portfolio. It was a USD 42.9 billion merger.

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Suture Needles Market – Overview

The Global Suture Needles Market is expected to grow at a CAGR of 3.1% during the forecast period 2017-2023.

Suture needles are required for the placement of sutures in tissues. Suturing is a technique used to repair tissue, and facilitate healing. The main aspects of this technique include closing dead spaces, reducing the risks of bleeding, strengthening wounds until healing, and making skin aesthetically pleasing Suture needles must be rigid enough to avoid bending and flexible enough to bend before breaking.

According to a recent study report published by the Market Research Future analysts, the global suture needles market is growing at a very steady pace. Some of the factors that are contributing in the growth of this market are increasing number of surgical procedures, favourable reimbursement scenario, rising geriatric population, and technological advancements in the surgical technologies.

On the other hand, factors such as easy availability of alternatives and increasing incidence of needle stick injuries may hinder the growth of the market to an extent.

Suture Needles Market - Regional Analysis

The Americas dominate the suture needles market owing to the well-developed technology, high healthcare expenditure, improvement in reimbursement scenario, and the presence of the leading players. According to the American Medical Association, Medicare has made various significant amendments in Ambulatory Surgery Center payment system (ASC). It is observed that for incision and drainage postoperative wound infection Medicare was providing reimbursement of USD 790.85, which is now exceeded to USD 1,030.52 in ASC. Whereas hospital outpatient payment has been exceeded to USD 2,148.00 from USD 1,414.28 this year.

Europe holds the second position in the suture needles market. It is expected that the support provided by the government bodies for research & development, and increasing number of surgeries drives the market in the European region.

Asia Pacific region is projected to be the fastest growing region during the forecast period. Rapidly improving technology, and the presence of huge patient pool drive the growth of this market in Asia Pacific region.

The Middle East and Africa hold the least share of the market owing to the presence of poor and slow developing countries, especially, in the African region.

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Major Table of Content

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope of the Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

Continued….

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