Americas Suture Needles Market Flourishes Relentlessly; Asserts MRFR Unleashing Industry Forecast Up To 2023

Americas Suture Needles Market - overview

The Americas Suture Needles Market is growing with a rapid pace. According to a recent study report published by the Market Research Future, the Americas Suture Needles Market is booming and expected to gain prominence over the forecast period and is projected to grow a sound pace. The market is projected to demonstrate a sound growth by 2023, surpassing its previous growth records in terms of value with a sound CAGR during the anticipated period (2017-2023).

Suturing is a technique used to close cutaneous wounds. The prime goals of this technique includes closing dead spaces, reducing the risks of bleeding, strengthening wounds until healing, and making skin aesthetically pleasing. Various type of suture needles are available in the market such as, taper point needle, spatula needle, coronar tip needle, taper cutting, triangle needle, and others. Sometimes, the principle of choosing a suture needle also depends upon the type of tissue. For instance, taper point needles are usually preferred to suture tissues that are effortless to penetrate whereas tapercut or cutting needles are used for hard tissues. Rising number of surgical procedures and favourable reimbursement scenario for a number of surgical procedures are promoting the growth of suture needles market globally. Road accidents have found to be responsible for rising surgical procedures and occurrence of wounds due to injuries. For instance, according to a study published in the Journal of Injury and Violence Research in 2017, it is found that low and middle-income countries bear the major burden of road traffic incidents worldwide. However, increasing incidence of needle stick injuries and easy availability of alternatives may hinder the growth of market.

Americas Suture Needles Market - Competitive Analysis

3M (U.S.), Roboz Surgical Instrument Co. (U.S.), Hu-Friedy Mfg. Co., LLC (U.S.), TNI medical AG (Germany), Ethicon US, LLC. (U.S), Dealmed Medical Supplies LLC (U.S.), Karl Hammacher (Germany), H&H Medical Corporation (U.S.), Stryker Corporation (U.S.), BD (U.S.), Allen Medical Systems (U.S.), and Leica Microsystems Inc.(U.S.) and others are some of the prominent players at the forefront of competition in the Americas Suture Needles Market and are profiled in MRFR Analysis. 

Characterized by the presence of several well-established and small players, the Americas Suture Needles Market appears to be highly competitive and fragmented. International players are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, product portfolios, quality, and pricing.  The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers.

Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.

In September, 2017- Stryker Corporation completed the acquisition of NOVADAQ Technologies Inc.  NOVADAQ is a leading developer of fluorescence imaging technology that provides surgeons with visualization of blood flow in vessels, and related tissue perfusion in cardiac, cardiovascular, gastrointestinal, plastic, microsurgical, and reconstructive procedures.

In September, 2016- 3M announced that it has acquired Semfinder, a Switzerland-based medical coding technology company. Semfinder is a leading developer of precise semantic coding of medical services. The acquisition of Semfinder provided important new coding technology that enabled 3M to accelerate the availability of its 3M 360 Encompass System in countries adopting electronic medical records.

In March, 2017- Ethicon announced the completion of Torax Medical, Inc., a privately held medical device company that manufactures the LINX Reflux Management System for the surgical treatment of Gastroesophageal Reflux Disease (GERD). This acquisition was aligned with Ethicon’s strategy of expanding its portfolio of minimally invasive options for patients suffering from prevalent and serious medical conditions.

Americas Suture Needles Market - regional analysis

On the basis of region, the Americas suture needles market is divided into North America and South America. North America consists of the U.S and Canada. Increasing demand for outpatient surgeries and the increasing number of bariatric and ophthalmic surgeries are the major drivers for market growth within the region. North America holds a major share of the market owing to increasing prevalence of lifestyle diseases like obesity and diabetes. On the other hand, South America is fastest growing region due to increasing healthcare expenditures and presence of huge opportunities for market growth.

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