Suture Needles Market by Application and Geography - Forecast and Analysis 2020-2024

The suture needles market size has the potential to grow by USD 73.50 million during 2019-2024, and the market's growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by application (cardiovascular procedures, general surgery and GI procedures, orthopedic procedures, gynecological procedures, and others) and geography (North America, Europe, APAC, and ROW). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including B. Braun Melsungen AG, Cantel Medical Corp., Futura Surgicare Pvt. Ltd., Hillrom, Johnson & Johnson, Mani Inc., Medtronic Plc, Teleflex Inc., Thermo Fisher Scientific Inc., and Unimed SA.

Market Overview

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Market Competitive Analysis

The market is fragmented. Market players are expanding their manufacturing facilities and R&D teams to launch new products and improve their existing product portfolios. B. Braun Melsungen AG, Cantel Medical Corp., and Futura Surgicare Pvt. Ltd. are some of the major market participants. Although the increasing number of surgeries will offer immense growth opportunities, the risks and complications associated with suture needles will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this suture needles market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this suture needles market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• B. Braun Melsungen AG
• Cantel Medical Corp.
• Futura Surgicare Pvt. Ltd.
• Hillrom
• Johnson & Johnson
• Mani Inc.
• Medtronic Plc
• Teleflex Inc.
• Thermo Fisher Scientific Inc.
• Unimed SA

Suture Needles Market: Segmentation by Geography

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North America was the largest suture needles market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increasing incidence of chronic diseases and rising geriatric population will significantly drive suture needle market growth in this region over the forecast period.

36% of the market's growth will originate from North America during the forecast period. The US is the key market for suture needles in North America. Market growth in this region will be slower than the growth of the market in APAC and ROW.

Suture Needles Market: Segmentation by Application

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The increase in the prevalence of heart diseases, including coronary heart disease, heart attack, cardiomyopathy, heart failure, and stroke, is expected to positively drive the growth of the cardiovascular procedures segment. Therefore, the market growth in this segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the suture needles market size.

Suture Needles Market: Key Drivers and Trends

The growing aging population and rising prevalence of chronic diseases will propel the suture needles market growth in the next five years. The need for surgical intervention is high among the aging population as they are prone to several chronic diseases such as diabetes, high blood pressure, obesity, and others. Also, they have a weak immune system and are at a higher risk of acquiring infectious diseases. Urological diseases, orthopedic deformities, GI diseases, spinal abnormalities, and cancer are some of the most common disorders observed among the geriatric population. This need for surgical intervention has been driving the need for medical devices such as suture needles.

The increasing healthcare expenditure will drive the suture needles market growth in the coming years. The suture needles market is expected to grow at a CAGR of about 4% during the forecast period. Factors such as technological advancements, increase in disposable incomes, and improvement in healthcare systems are encouraging the aging population to increase their healthcare expenditure.

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Suture Needles Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive suture needles market growth during the next five years
• Precise estimation of the suture needles market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the suture needles industry across North America, Europe, APAC, and ROW
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of suture needles market vendors

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