Suture Needles Market – Overview
Market Research Future (MRFR)’s study reveals that the Suture Needles Market is set to expand at a healthy CAGR of 3.1% during the forecast period. The developments in the healthcare sector have motivated the medical device manufacturers to develop their product portfolios. Global Suture Needles Market has witnessed the widening of the range of product offerings such as a blunt needle, round-bodied needle, etc. for keeping up with the medical advancements. This, in turn, has propelled the growth of the market and is likely to continue impacting the suture needles market expansion positively.
The shift towards minimally invasive technology has paved the way for the adoption of the round-bodied needle as it pierces and spreads the tissues with minimal cutting. It is forecasted to augment the suture needles market in the foreseeable future. Additionally, an upsurge in the number of surgeries is predicted, which is projected to expedite the expansion of the suture needles market over the assessment period.
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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.
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.
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 Suture Needles 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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