Transparency Market Research
Rising Road Accidents to Bolster Demand in Global Suture Needles Market
Needles used to close wounds or incisions after operation is known as suture needles. These needles help close the wounds in invisible manner, heal the wound and strengthen the wounded area. It also decreases the risk of bleeding.
The major factors propelling the growth in global suture needles market are supportive reimbursement policies by the governments and advancement in technologies. Besides, there has been a noticeable rise in surgical procedures all over the world. This also has fueled the demand of suture needles market globally. In 2016, 195 children were hospitalized because of road accidents, says International Journal of Contemporary Pediatrics. Such incidences as well drive the market on international level.
North America leads Market Due to Rising R&D Activities
Geographically, North America region led the global suture needles market due to rise in healthcare expenses, supportive reimbursement strategies, and adoption of innovative technologies. Moreover, Europe holds the significant share of global suture needles market. The lucrative government policies for research and development activities and increasing number of surgeries back the growth of this region. Furthermore, technological growth and increasing patient pool in Asia Pacific make it a lucrative ground for the suture needles market growth as well.
The key players such as Roboz Surgical Instrument, u-Friedy Mfg. Co., LLC, and Hill-Rom are investing significantly in the market to come up with more distinct and effective products. Companies are getting into tie-up with several hospitals and medical centers to gain an edge over their competitors. Players are consistently striving for sustain and improving theitr market position in coming years.
Suture needles are used to close wounds. The technique used to close cutaneous wounds is known as suturing. Sutures are used to close skin in an invisible manner, strengthen wounds until they are healed, reduce the risk of bleeding, and make scar aesthetically attractive. Numerous type of suture needles, such as spatula needle, taper point needle, coronar tip needle, triangle needle, and taper cutting, are available in the market. Selection of a suture needle depends on the type of tissue it is to be used on. Taper point needles are preferred for soft tissues, while cutting or taper cut needles are used for hard tissues.
Different stitching styles, such as the vertical mattress, horizontal mattress, layered closure, and running suture during surgical procedures, are used for wound closures. Demand for surgical procedures is rising across the globe, as surgeries have become a standard treatment for various health conditions. Eurostat reported that colonoscopy and cataract surgeries were common surgical procedures performed in Europe in 2015. Additionally, in 2015, it was recorded that the cataract surgery was performed in 1000 patients per 100,000 inhabitants, most prevalent in Sweden, Germany, the Czech Republic, Luxembourg, Malta, Finland, Estonia, Portugal, Austria, and France.
Technological advancements and favorable reimbursement scenario are key factors driving the global suture needles market. For instance, according to the Australian Government Department of Health’s Medicare Benefits Schedule (MBS), the actual fee for colostomy, caecostomy, enterostomy, enterotomy, and gastrostomy sutures of perforated peptic ulcers reduced by 75% to US$ 391.0. The hydatid cyst of the liver with omentoplasty or myeloplasty costs 653.45, which reduced to US$ 490.0 in 2017.
Increase in the number of surgical procedures across the globe is fueling the market. According to a study published in the International Journal of Contemporary Pediatrics in 2016, 195 children were admitted due to road traffic accident in India and around 6.7% went through a surgical procedure for simple injuries and 93.3% for complex injury between 2014 and 2016. However, easy availability of alternatives and increase in incidence of needlestick injuries are likely to hamper the market during the forecast period. According to a report by the WHO, needlestick and sharps injuries are responsible for 16,000 hepatitis C, 1000 HIV infection, and 66,000 hepatitis B cases among health care workers worldwide.
The global suture needles market can be segmented based on type, shape, end-user, and region. In terms of shape, the market can be classified into j shaped needles, straight shaped needles, half curved needles, compound curve shaped needles, and others. In terms of type, the suture needles market can be bifurcated into eyeless needles and eyed needles. Based on end-user, the market can be divided into the hospitals, ambulatory surgical centers (ASC), clinics, and others.
In terms of region, the global suture needles market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominate the suture needles market owing to the high health care expenditure, acceptance of innovative technologies, and favorable reimbursement policies. According to the American Medical Association, Medicare has made various significant amendments to the Ambulatory Surgery Center (ASC) payment system. Europe accounts for a large share of the suture needles market. Government support for research & development and increase in the number of surgeries drive the suture needles market in Europe. The market in Asia Pacific is projected to expand at a considerable pace during the forecast period. Technological developments and presence of a huge patient pool drive the market in Asia Pacific. Middle East and Africa holds a small share of the market owing to the presence of poor and slow developing countries, such as those in Africa.
Major players operating in the global suture needle market include Hu-Friedy Mfg. Co., LLC, Roboz Surgical Instrument, Hill-Rom, Medline Industries, Inc., B. Braun Melsungen AG, Medtronic Plc, and Johnson & Johnson Services, Inc.
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