The Suture Needle Market is expected to grow at a CAGR of 3.1% approximately in the forecast period. Suturing is a technique used to close cutaneous wounds. The prime goals of this technique include closing dead spaces, reducing the risks of bleeding, strengthening wounds until healing, and making skin aesthetically pleasing. Various type of suture needles is available in the market such as taper point needle, spatula needle, coronar tip needle, taper cutting, triangle needle, and others. The current landscape of pharmaceutical and healthcare operates under the scaffolds of medical devices and instruments, which make the treatment precise and potent.
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.
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The segmentation of the suture needles market is carried out on the basis of shape, type, region, and end-users. Based on the shape, the suture needles market is segmented into j shape needles, straight shaped needles, compound curve half curved, shaped needles, and others. The segmentation of the suture needle market based on type comprises of eyeless and eyed needles. Based on the end users, the suture needles market is segmented into hospital, ambulatory surgical centers, and clinics, and others. On the basis of regions, the suture needle market is segmented into the Americas, Africa, The Middle East, Europe, and the Asia Pacific.
The Suture Needles Market is currently dominated by various major players. Medtronic plc is one of them, by holding the first position globally with a share of 26.2% as of 2016. Medtronic is the global leader in the medical technology services. It develops, manufactures, and markets its medical devices to clinics & hospitals across approx. 160 countries. The company has a huge brand image, broad product portfolio, and strong distribution network around the globe. The company has adopted the strategy of collaboration with other leading organization to sustain their position in the market. For instance, in June 2015, Medtronic plc acquired Covidien plc to broaden their product portfolio. It was a USD 42.9 billion merger.
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Johnson & Johnson Services, Inc. held the second-largest share of 19.7% in the suture needles market in 2016. In recent years, the major strategies adopted by the company are a collaboration with other organizations, receiving approval from government regulatory bodies, strong R& D investment, and cost reduction initiatives to expand profitability.
ETHICON, a subsidiary of J&J, launched PROXISURE™ SUTURING DEVICE to improve precision in minimally invasive surgery. Ethicon acquired NeuWave Medical, Inc. Furthermore, the company has also invested heavily in various research and development activities to bring innovative products to the market and to cater to the unmet market needs.
The eminent contenders in the Suture Needle Market are
- Hu-Friedy Mfg. Co., LLC
- Medtronic Plc
- Braun Melsungen AG
- Roboz Surgical Instrument
- Medline Industries, Inc.
- Johnson & Johnson Services, Inc.
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