Medical Suture Needle Market
The medical suture needle market was valued US$ 4.2 Bn at the end of 2020 and expected to reach at a value of US$ 6.9 Bn by 2028 with a significant CAGR of 6.3%
Meridian Market Consultants (MMC) has published a new report titled, “Medical Suture Needle Market: Opportunity Analysis and Future Assessment 2020-2028”
Global Medical Suture Needle Market, by Type covers (Eyeless Needles and Eyed Needles), by shape (J-shaped Needles, Straight Shaped Needles, Half Curved Needles, Compound Curve Shaped Needles, and Others), by End-User (Hospitals, Ambulatory Surgical Centers (ASC), Clinics, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
As per the report, the enhanced technological advancements in all kinds of medical procedures, therapies, and equipment as well as in entire healthcare industry is majorly contributing to the global growth of the Medical Suture Needle Market. The positive growth in the number of medical treatments and surgeries owing to unhealthy lifestyles and an aging population are expected to boost the global Medical Suture Needle Market.
Also, adaptable government regulations for surgical therapies and procedures are projected to propel the number of surgeries in the forecasted period and thereby the global Medical Suture Needle market in the coming years. In the past few years, the number of vehicles on road has tremendously increased leading to a huge number of road accidents, conclusively resulting in fast growth in the global Medical Suture Needle Market.
The medical suture needles serve its utility to close serious injuries and wounds and the procedure used to repair and heal wounds is named as suturing in medical terms. Medical suture needles are used to repair and heal wounds and skin in an ethereal and an invisible manner, reduce the risk of bleeding, strengthen wounds until they are healed, and make wound scars aesthetically attractive, and thus, the global Medical Suture Needle Market is observing an accelerated growth and projected to witness the same in the near future.
Notably, growing cases of chronic diseases such as type-2 diabetes, obesity, and cardiovascular disease are also the prime reason for driving the global Medical Suture Needles Market. Furthermore, fewer chances of risk and enhanced safety of various surgeries owing to elevation in technology are also projected to augment the market demand.
Additionally, partnerships and acquisitions, initiated by giant companies for product portfolio development and distribution activities are expected to propel the market further during the forecast years.
However, the easy accessibility of alternatives and growth in the incidence of needlestick injuries are likely to hinder the market during the forecast period.
MMC Study identifies some of the key participating players in Medical Suture Needle Market globally are Hu-Friedy Mfg. Co., LLC, Roboz Surgical Instrument, Hill-Rom, Medline Industries, Inc., B. Braun Melsungen AG, Medtronic Plc, and Johnson & Johnson Services, Inc.
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