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The global suture needles market is categorized based on end-users, with segmentation into ambulatory surgical centers, hospitals, and other healthcare facilities. Notably, hospitals emerged as the dominant segment in the global suture needles market in 2016, reflecting a substantial market share. This dominance is primarily attributed to the increasing prevalence of surgical procedures worldwide. According to data from the Australian Institute of Health and Welfare, the period from 2015 to 2016 witnessed 10.6 million hospitalizations, with one in every four hospitalizations involving a surgical procedure.
The hospital segment is anticipated to continue its robust growth trajectory, poised to reach a valuation of USD 1,229.4 million by the conclusion of 2023. This growth is expected to unfold at a Compound Annual Growth Rate (CAGR) of 3.5% during the period spanning from 2017 to 2023. The pivotal role of hospitals in driving the demand for suture needles is underscored by the consistently high number of surgical interventions conducted globally.
The dominance of the hospital segment in the suture needles market is a direct result of the critical role hospitals play in the healthcare ecosystem. Hospitals serve as central hubs for a wide range of medical treatments and surgical procedures, making them the primary consumers of essential medical devices such as suture needles. The anticipated growth in the hospital segment aligns with the ongoing trend of increasing hospitalizations and the consequent rise in surgical procedures worldwide.
As medical interventions and surgical procedures become more commonplace, the demand for high-quality suture needles continues to escalate. Hospitals, with their comprehensive medical services and surgical capabilities, emerge as the primary drivers of this demand. The steady growth projected for the hospital segment emphasizes the indispensable nature of suture needles in the realm of modern healthcare, highlighting their pivotal role in ensuring the success of diverse surgical interventions.
The growing hospitalization rates, coupled with the continuous advancements in surgical techniques, contribute to the significance of suture needles in the overall healthcare landscape. These devices play a crucial role in wound closure, contributing to the success and effectiveness of various surgical procedures. The projected growth in the hospital segment not only reflects the increasing demand for suture needles but also underscores their essential role in facilitating optimal patient outcomes.
The suture needles market is witnessing a substantial impact from the hospital segment, which is expected to continue its growth trajectory. As hospitals worldwide grapple with a rising number of surgical interventions, the demand for high-quality suture needles is set to remain strong. The hospital segment's dominance in the suture needles market is a testament to the critical role these devices play in the realm of modern healthcare, ensuring the success and safety of a diverse range of surgical procedures.
Suture wire Market Highlights:
Global Suture Wire Market Overview
Suture Wire Market Size was valued at USD 1.04 Billion in 2023. The Global Suture Wire industry is projected to grow from USD 1.09 Billion in 2024 to USD 1.93 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.77% during the forecast period (2024 - 2032).
Suture wire is a thread which holds the body tissue after surgery or injury. Sutures wires are used in different surgeries like cardiac, renal, dental and many more. They play an important role in the field of medicine. Different types of sutures wires are developed, made up of different materials. Development of absorbable sutures has provided a good platform for the growth and it has found its application in heart and cardiac surgeries.
According to WHO more than 900 million surgeries are performed all over the world of which 300 million are only cardiac surgeries. Suture wire market is driven by increasing number of surgeries and accidents. Besides, the increasing prevalence of a number of chronic diseases, development in the suture wire material and increasing aging population across the globe also contribute to the growth of the suture wire market. Increasing diabetic and obese population across the globe also help to increase the market. However, high cost of the product has hampered the growth of the market.
Study objectives suture wire market
- Detailed information about the factors affecting the growth of the suture wire market.
- Detailed analysis of parent market with respect to all the possible segmentation of the suture wire market.
- Detailed analysis of emerging key players for the suture wire market with their effective strategies.
- Detailed Information about the present and forecasted market and factors that influences the market on global scale.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the suture wire market.
- Analysis of the market of the different factors like- price analysis, supply chain analysis, porters five force analysis etc.
- Detailed information on the possible segments and sub segments of the suture wire market. And regional analysis of the market- America, Europe, Asia Pacific and Middle East and Africa.
- Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Detailed information on trends and the opportunities in various regions.
Key Players for Suture Wire Market
- Boston Scientific Corporation (US)
- Demetech Corporation (US)
- Endoevolution Llc (US)
- Ethicon Inc. (US)
- Apollo Endosurgery Inc. (US)
- B. Braun Melsungen AG (Germany)
- Smith & Nephew Plc. (UK)
- Surgical Specialties Corporation (Germany)
- Sutures India Pvt Ltd (India)
- Internacional Farmacéutica S.A. (US)
- Medtronic PLC (UK)
- Peters Surgical (France)
- Covidien Plc. (UK)
- Jiangxi Longteng Co. Ltd. (China)
- DemeTech (US)
- Teleflex Incorporated (US)
- Lotus Surgicals Pvt Ltd. (India)
Suture Wire Market Segment Insights
Suture wire market is segmented on the basis of type, application and end users.
Suture Wire Type Insights
On the basis of type the suture wire market is segmented into absorbable suture and non-absorbable suture. Absorbable suture is sub segmented into polyglycolic acid, polylactic acid, polydioxanone and monocryl. Non- absorbable sutures are sub segmented into nylon, polyester, polypropylene, and other.
Suture Wire Application Insights
On the basis of application the market is segmented into surgery, veterinary, and other. Surgery is further sub segmented into cardiac, renal, dental and other.
Suture Wire End User Insights
On the basis of end users suture wire market is segmented into hospitals, clinics and other.
Suture Wire Regional Insights
Suture wire market is dominated by America. Suture market in America is driven by increasing number of surgeries and well developed healthcare sector. Beside this, huge number of population suffering from diabetes and other chronic diseases has also supported the growth of this market. Europe has the second largest market which is followed by Asia Pacific. Asia Pacific is expecting the fastest growth for the suture wire market during forecasted period.
Intended Audience
- Suture wire manufacturers
- Suture wire suppliers
- Research and Development (R&D) Companies
- Independent Research Laboratories
- Government and Independent Regulatory Authorities
- Market Research and Consulting Service Providers
- Medical Research Laboratories
- Academic Medical Institutes and Universities
The report for suture wire market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the suture wire market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different markets segments and regions.
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