Suture Needle: Improvement in Reimbursement Policies is Likely to Boost The Market Growth at a CAGR of 18.80% During The Forecast Period 2023-2032

Pune, India, December 2023 /MRFR Press Release/- Market Research Future has a cooked research report on the suture needle market.

Market Highlights

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 18.80% during the forecast period 2023-2032.

Taste the market data and market information presented through more than 296 market data tables and figures spread over 251 pages of the project report. Avail the in-depth table of content TOC & market synopsis on “suture needles market research report–Global forecast till 2032.” 

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.

Explore In-depth Details: Suture Needle Market Research Report

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.

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.