Suture wire Market Size

Suture wire Market Growth Projections and Opportunities

Suturing stands as a fundamental technique in the medical field, employed to close cutaneous wounds with specific objectives such as closing dead spaces, minimizing bleeding risks, fortifying wounds during the healing process, and ensuring aesthetically pleasing skin closure. The market offers diverse types of suture needles, including taper point needles, spatula needles, coronar tip needles, taper cutting needles, triangle needles, and others. The choice of a suture needle often hinges on the type of tissue it is intended to suture. For example, taper point needles are typically preferred for tissues that are easy to penetrate, while tapercut or cutting needles find application in hard tissues.
The global suture needles market is witnessing growth propelled by an increasing number of surgical procedures and a favorable reimbursement scenario for various surgical interventions. Surgical procedures often result from incidents like road accidents, contributing to the demand for wound closure techniques. A study published in the Journal of Injury and Violence Research in 2017 highlighted that low and middle-income countries bear a significant burden of road traffic incidents, further emphasizing the global impact of such injuries.

Despite the positive drivers, the suture needles market faces challenges, including a growing incidence of needle stick injuries and the ready availability of alternative wound closure methods, which could potentially hinder market growth.

Geographically, the Americas region holds the largest market share, driven by improvements in reimbursement policies and increased healthcare expenditure. Key amendments in Ambulatory Surgery Center payment systems by Medicare, as reported by the American Medical Association, have contributed to the robust market presence in the Americas.

The global suture needles market is projected to reach USD 3,809.4 million by 2023, rising from USD 3,076.5 million in 2016. The market is expected to maintain a stable compound annual growth rate (CAGR) of 3.1% during the forecast period from 2017 to 2023.

In terms of shape, the market categorizes suture needles into straight, J shape, compound curve, half curved, and others. The straight needles segment dominated the market in 2016, commanding a significant share of 25.4%, while the half curved needle segment is anticipated to exhibit the fastest growth with a CAGR of 3.5% during the forecast period.

Regarding type, the global suture needles market differentiates between eyed and eyeless needles. In 2016, eyeless needles commanded a substantial market share of 55.7%, and this segment is expected to maintain a rapid growth pace with a CAGR of 3.4% during the forecast period from 2017 to 2023.