Published On: December 2017
Suture Needles: Market Introduction
The current landscape of pharmaceutical and healthcare operates under the scaffolds of medical devices and instruments, which make the treatment precise and potent.
Suturing is a technique used to close cutaneous wounds. The prime goals of this technique includes closing dead spaces, reducing the risks of bleeding, strengthening wounds until healing, and making skin aesthetically pleasing. Various type of suture needles are available in the market such as taper point needle, spatula needle, coronar tip needle, taper cutting, triangle needle, and others. Sometimes, the principle of choosing a suture needle also depends upon a type of tissue. For instance, taper point needles are usually preferred to suture tissues that are effortless to penetrate whereas taper cut or cutting needles are used for hard tissues.
A number of players are operating in the global suture needle market. Medtronic plc has been recognized as a global leader with a broad range of products serving the medical devices industry. Medtronic plc develops, manufactures and markets their medical devices to clinics & hospitals acriss approx. 160 countries. The company is well-known for their broad range of therapeutic offerings in the medical devices industry. Their position among the key suture manufacturers is due to their considerable global footprint through the distributors and agents.
Johnson & Johnson Services, Inc. is another well-established player in the suture needles market. The company manufactures medical devices for various specialties such as orthopedics, cardiovascular diseases, and many others. J&J Services has acquired and merged with various other companies to expand their portfolio of endoscopic devices. Ethicon, a subsidiary of J & J offers a broad range of suture needle products. The company has a workforce of more than 126,400 employees worldwide till date.
Future Hold for Mergers and Acquisitions Activity
In today's dynamic environment, many businesses are on the hunt for companies in the same industry for horizontal mergers and acquisitions. Integration among companies offer various benefits such as diversification of products and services, selling of products to larger market, reduction in the cost of production, and the amount of external competition.
Hill-Rom, Inc. holds a strong position in the suture needles market. Hill-Rom, Inc. manufactures medical technologies and equipment to the healthcare industry. The company offers hospital beds and long term care beds, support surfaces and mattresses, wound therapy systems, architectural products, stretchers, patient handling/support systems, furniture, surgical equipment, respiratory care products, clinical workflow solutions, safe mobility and handling solutions, non-invasive therapeutic products for various acute and chronic medical conditions, and information technology solutions. The company has profoundly evolved by expanding market globally. Product portfolio of suture needles, and related products includes Needle Triever Device, Sterion Suture Aid Booties, and many others. On January 21, 2016 Intuitive Surgical and Hill-Rom received the FDA clearance for Integrated Table Motion, and on September 8, 2015, Hill-Rom acquired Welch Allyn for USD 2.05 billion.
Medline Industries, Inc. also found to be inclined towards acquisition, and collaboration with other organizations as integration with other organization helps in expanding the present product portfolio. For instance, on December 6, 2017, Medline entered a new distribution partnership with BioDerm, Inc. to expand its urinary management devices portfolio, and also acquired Centurion Medical Products to gain full set of vascular access products in the same year. Medline has also expanded its global presence with the launch of its warehouses in 3 new locations, i.e., New South Wales, Victoria, and Queensland in 2016.
Products Tapping on the New Opportunities in Suture Needles Market
Suturing is an indispensable process during injury, incision or surgery as it helps in wound healing. The demand for surgical procedures is on rise across the globe as surgery has become standard treatment for various health conditions. On considering the efficiency of suture needles, various suture needles and related products have been introduced by marketers. For instance, on August 21, 2017, ETHICON, a subsidiary of J&J, launched PROXISURE™ SUTURING DEVICE to improve precision in minimally invasive surgery. The device features wrist-like maneuverability along with curved needle in an advanced suturing device to improve suturing precision in tight spaces. Medline Industries, Inc. also offers a broad range of suture products such as Black Monosof Sutures, Surgipro-II and Surgilon Sutures, Black Sofsilk Sutures, Undyed Biosyn Suture, and Chromic Gut Suture. On December 6, 2017 Medline entered a new distribution partnership with BioDerm, Inc. to expand its urinary management devices portfolio.
Easy Availability of Alternatives Threat to the Market
In the past few years, various technologically advanced suturing products have been introduced in the market. These newly introduced products have tendency to shift the market trend in their favor in the near future. There is continuous surge in the adoption of technologically advanced suturing products. For instance, BioWeld1 system by IonMed is a cold plasma system designed for surgical incision closure. Ethicon has also introduced various suturing products such as DERMABOND ADVANCED® Topical Skin Adhesive, and others.