Suture Needles Market Applications & Business Strategy Forecast 2028
Suture Needles Industry Overview
The global suture needles market size was valued at USD 469.8 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.2% from 2021 to 2028.
A surge in the number of surgical procedures for cardiovascular diseases and the increasing prevalence of chronic diseases are fueling the market growth. Furthermore, the market for suture needles will benefit from the development of advanced technological solutions.
According to the WHO, in May 2020, there have been more than 42,48,389 COVID-19 reported cases and 2,94,046 deaths globally. The pandemic has severely interrupted global healthcare delivery, including treatments to address chronic illnesses such as heart diseases. In comparison to the previous year, there was a 64% decrease in cardiology diagnostic procedures across all regions. On the other hand, a shortage of personal protective equipment (PPE) and high-filtration masks for medical personnel was also noted in 22% of centers, limiting their capacity to perform treatments. The market for suture needles has suffered as a result of this supply shortage.
Gather more insights about the market drivers, restrains and growth of the Global Suture Needles Market
The rising prevalence of cardiovascular illnesses around the world is predicted to drive up the demand for surgical treatment. According to the WHO, cardiovascular diseases resulted in the deaths of 17.9 million people worldwide in 2019, accounting for 32% of all deaths. Furthermore, heart attacks and strokes may account for a significant portion of these deaths.
Various initiatives such as acquisitions, mergers, and product launches by major market players are anticipated to boost market growth. For instance, in August 2017, The ProxiSure (TM) Suturing Device, an innovative laparoscopic suturing device integrating Ethicon endomechanical, suture, and curved needle technology, has been launched in the United States by Ethicon, which is part of the Johnson & Johnson Medical Devices Companies. ProxiSure (TM) is developed to provide precision suturing in restricted locations and is particularly suited for bariatric, general, colorectal, and gynecological operations, with a highly intuitive tissue healing experience.
A surgeon’s ability to suture a variety of tissue layers, including flat surfaces, is also improved by the device’s curved needle. Hence, the market for suture needles is expected to grow as a result of such new introductions.
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Market Share Insights
- May 2020: Healthium Medtech released Truglyde SN2355, a suture needles combination designed specifically for COMOC MG, a new surgical approach for managing Postpartum Hemorrhage (PPH), which is one of the leading causes of maternal death.
- August 2017: Ethicon, a subsidiary of Johnson & Johnson Medical Devices, launched the ProxiSure Suturing Device in the United States, a sophisticated laparoscopic suturing device that incorporates Ethicon endomechanical, suture, and curved needle technology.
Key Companies profiled:
Some of the prominent players in the global suture needles market include:
- Medtronic
- Futura Surgicare Pvt. Ltd.
- Johnson & Johnson Medical N.V.
- Aurolab
- Natsume Seisakusho Co., Ltd.
- Alfresa Pharma Corporation
- Bear Medic Corporation
- SUTUREX & RENODEX
- Teleflex Incorporated
- Smith & Nephew
- Hu-Friedy Mfg. Co., LLC
- FSSB Chirurgische Nadeln GmbH
- Burtons Medical Equipment Ltd.
- Advin Health Care
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