Global demand for surgical needles market was valued at approximately USD 3157.8 million in 2018 and is expected to generate revenue of around USD 3948.3 million by end of 2025, growing at a CAGR of around 3.3 % between 2019 and 2025.
The report covers forecast and analysis for the surgical needles market on a global and regional level. The study provides historic data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the surgical needles market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the surgical needles market on a global level.
As per the report, the global demand for surgical needles market was valued at approximately USD 3157.8 million in 2018 and is expected to generate revenue of around USD 3948.3 million by end of 2025, growing at a CAGR of around 3.3 % between 2019 and 2025.
Surgical needle market has witnessed significant growth worldwide in recent years. Global demand for surgical needles is expected to be driven by increasing demand for needles from various medical practices especially for suturing. In addition, it is the standard treatment method for various surgeries which is fueling the market owing to the increasing number of the road accidents and other casualties. Conferring to a study issued in the international journal of contemporary pediatrics in 2016, 6.3% went for minor surgery and 93.3% for complex surgery because of road accidents in India. However, growing cases of HIV, Hepatitis C, and Hepatitis B due to use of infected needles is restraining the market growth. The easy availability of alternatives for surgical needles and injuries caused by needle stick is also hampering the market growth of the surgical needles. Increasing adoption of advanced technology in surgeries is expected to bring new growth avenues for surgical needles manufacturers.
Based on shape, the market is segmented into compound curve-shaped needles, J shape needles, half curved, straight shaped needles, and others. Among the shape segment, straight shaped needles held the largest market share in 2018. The characteristic feature of improving safety, easy penetration, and consistency in passing through tissues has attributed to the largest market share of this segment.
Based on type, the market is segmented into eyed and eyeless needles. Eyed held the largest market share in 2018 owing to several factors such as the ability to avoid tissue damage and tissue dragging during surgery. Additionally, it also prevents suture damage during the procedure.
Based on end-user, the market is categorized into ambulatory surgical centers, hospitals and clinics, and others. Hospitals and clinics segment lead the market in terms of revenue in 2018 owing to the availability of a large number of surgeries and treatment facilities.
North America leads the global surgical needles market and accounted for about 40% market share in 2018. North America region is expected to lead the market over the forecast period with development mostly focused in the U.S. market. Presence of major players, upgraded reimbursement scenario, and increasing funding by the government towards advanced technology in surgical methods are major factors that attribute to the largest revenue share. On the other hand, Europe accounted for the subsequent largest market for the surgical needles market in 2018 globally.
Increasing cases of surgeries and government support in research and development facilities are the key factors driving the demand for surgical needle in Europe. Asia Pacific is projected to be growing at the highest CAGR over the forecast period. This increased growth rate is attributable to large patient pool and growing healthcare facilities. Inclination towards R&D is also driving the market growth in the Asia Pacific region.
Some of the key players in surgical needles market include Medline Industries, Inc., Hu-Friedy Mfg. Co LLC., Roboz Surgical Instrument, Hill-Rom, Johnson & Johnson Services, Inc, Medtronic Plc, B. Braun Melsungen AG, and others.