Suture Needles Market is Projected to Grow USD 3,809.4 Million By 2023 at a CAGR of 3.1%

Suturing is a technique used to repair tissue, and facilitate healing. Suture needles are made up of stainless steel that come in different sizes and must have blunt or sharp points. There are basically two needle end types i.e. eyed or eyeless. Needles having a hole at the suture side are eyed needles, whereas those which have suture crimped within the needle are considered as eyeless or swaged. There are more benefits associated with eyeless needles over the eyed needle such as an eyeless needle is for single use which avoids the loss of sharpness.

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 are required for the placement of sutures in tissues. Suture needles must be rigid enough to avoid bending and flexible enough to bend before breaking.

Increasing number of surgical procedures, favorable reimbursement scenario, rising geriatric population, and technological improvements are the key factors driving the suture needles market.

However, easy availability of alternatives and increasing incidence of needlestick injuries may hinder the growth of the market to an extent.

The global suture needles market is expected to grow at a CAGR of 3.1% during the forecast period 2017-2023.

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Key Players in the Suture Needles Market

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.

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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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.

For different wounds or surgical procedures distinct stitching style of sutures have been used such as vertical mattress, layered closure, horizontal mattress, running suture, and many others. The demand for surgical procedures is on the rise across the globe as surgery has become standard treatment for various health conditions. As per the 2015 statistics suggested by the Eurostat, cataract surgery, and colonoscopy were the two most common surgical procedures performed in European region. It is observed that in the year 2015, cataract surgery was performed one thousand times per 100 000 inhabitants specifically in Germany, Sweden, the Czech Republic, Luxembourg, Finland, Malta, Estonia, Austria, Portugal, and France. Other common procedures include bronchoscopies, and transluminal coronary angioplasties

Notably, favorable reimbursement scenario and technological improvements are the key factors driving the suture needles market. On December 1, 2017, the Australian Government Department of Health introduced the latest Medicare Benefits Schedule (MBS). According to the MBS, the actual fee for Caecostomy, Colostomy, Enterotomy, Enterostomy, Gastrostomy, Gastrotomy, Suture of perforated peptic ulcer was USD 521.25, which is now reduced by 75% i.e. USD 390.95. The actual fee for hydatid cyst of liver, with or without suture of biliary radicles, and with omentoplasty or myeloplasty was USD 653.45 which is now reduced by 75% i.e. USD 490.10.

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LIST OF Figure
FIGURE 1 GLOBAL SUTURE NEEDLES MARKET BY SHAPE, 2016 (%) 12
FIGURE 2 GLOBAL SUTURE NEEDLES MARKET, BY TYPE, 2016 (%) 12
FIGURE 3 RESEARCH PROCESS 15
FIGURE 4 GLOBAL SUTURE NEEDLES MARKET BY SHAPES USD MILLION 2016 & 2023 30
FIGURE 5 GLOBAL SUTURE NEEDLES MARKET BY TYPE USD MILLION 2016 & 2023 34
FIGURE 6 GLOBAL SUTURE NEEDLES MARKET BY END USER USD MILLION 2016 & 2023 37
FIGURE 7 GLOBAL SUTURE NEEDLES MARKET BY REGION MARKET SHARE, 2016 (%) 40
FIGURE 8 AMERICAS SUTURE NEEDLES MARKET BY REGIONS MARKET SHARE 2016 (%) 42
FIGURE 9 EUROPE SUTURE NEEDLES MARKET BY REGIONS MARKET SHARE 2016 (%) 50
FIGURE 10 ASIA PACIFIC SUTURE NEEDLES MARKET BY REGIONS MARKET SHARE 2016 (%) 64
FIGURE 11 MIDDLE EAST & AFRICA SUTURE NEEDLES MARKET BY REGIONS MARKET SHARE 2016 (%) 73
FIGURE 12 GLOBAL SURGICAL NEEDLES COMPANY MARKET SHARE, 2016 (%) 83

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