Suture Needles Market: Is set to expand at a healthy CAGR of 4.4% during the forecast period

Pune, India, 2022 /press release/- Market Research Future Published a Half-Cooked Research Report on Suture Needles  Market Research Report.

Market Insights:

Market Research Future (MRFR)’s study reveals that the Suture Needle Market is projected to reach USD 294.6 Million by 2030 at 4.4% CAGR during the forecast period 2022-2030. The developments in the healthcare sector have motivated the medical device manufacturers to develop their product portfolios. 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.

The market looks attractive at present and is likely to flourish over the next couple of years. Some of the factors responsible for catapulting the market on an upward trajectory include rising healthcare expenditure, increasing innovations in the healthcare sector, the large-scale prevalence of chronic diseases, and increasing count of health care service centers, among others.  However, the shift towards surgical staplers for suturing, especially in the super specialty healthcare centers, is a major factor expected to hold the growth of the suture needles market during the assessment period.

Market Segmentation:

By type of needle, the suture needles market has been segmented into round bodied needle, spatula needle, reverse cutting needle, blunt point needle, conventional cutting needle, tapercut needle, and others.

By needle end type, the Americas suture needles market is segmented into eyed and eyeless.

By end-user, the suture needles market has been segmented into hospital, clinics, ambulatory surgical centers and others.

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Suture Needle Market Research Report

Regional Outlook:

By region, the Americas suture needles market has been segmented into North America and South America. North America accounts for a major share of the Americas market and is likely to retain its pole position through the forecast period. The region is estimated to strike a CAGR of 6.5% over the assessment period. The U.S. and Canada are projected to propel the suture needles market proliferation over the next couple of years. Rising demand for outpatient surgeries as well as the increasing count of bariatric and ophthalmic surgeries are prognosticated to influence the growth of the U.S. market in the coming years.

The factors favoring the proliferation of the North America suture needles market include maintenance of an adequate supply of surgical equipment, increasing demand for blunt point needles and taper cut needles technological advancements, the large-scale prevalence of lifestyle diseases like obesity and diabetes, etc. Meanwhile, South America also is expected to thrive significantly over the assessment period. The growth is attributable to the increase in the number of laparoscopic surgeries.

Competitive Dashboard:

Some of the key players profiled in this report are 3M (U.S.), TNI medical AG (Germany), Roboz Surgical Instrument Co. (U.S.), Ethicon US, LLC. (U.S), Hu-Friedy Mfg. Co., LLC (U.S.), Karl Hammacher (Germany), Dealmed Medical Supplies LLC (U.S.), Stryker Corporation (U.S.), H&H Medical Corporation (U.S.), Allen Medical Systems (U.S.), BD (U.S.), and Leica Microsystems Inc. (U.S.).

Industry Developments:

In March 2018, Michigan-based Stryker has launched Cobra, its reusable suture passing technology. It is claimed to be an innovation in the reusable needle technology.

In May 2018, the U.S. based DePuy Synthes has launched a knee arthroscopy device called TRUESPAN Meniscal Repair System. It protects implants and sutures against misfiring or jamming with a depth-stop and rigid needle.