Aspiration & Biopsy Needles Market by Product (Fine-needle Aspiration, Biopsy (Core & Vacuum Assisted)), Site, Procedure (Image-guided (Ultrasound, MRI, Stereotactic), Nonimage-guided), Enduser (Hospital, Academia) - Global Forecast to 2024
“The aspiration and biopsy needles market is projected to grow at a CAGR of 7.3%.”
The aspiration and biopsy needles market is projected to reach USD 1,272 million by 2024 from USD 894 million in 2019, at a CAGR of 7.3%. The adoption of aspiration and biopsy needles is growing across major healthcare markets owing to the increasing incidence of cancer and the rising patient preference for minimally invasive diagnostic procedures.
“The Biopsy Needles segment is expected to witness the highest growth in the aspiration and biopsy needles market during the forecast period.”
On the basis of product, the aspiration and biopsy needles market is segmented into biopsy and aspiration needles. The biopsy needles segment is estimated to grow at the highest CAGR during the forecast period owing to its growing adoption among various healthcare facilities and due to the rising prevalence of cancer.
“The Hospitals segment is expected to witness the highest growth during the forecast period.”
On the basis of end user, the aspiration and biopsy needles market is segmented into hospitals, research laboratories & academic institutes, and diagnostic & imaging centers. The hospitals segment is estimated to grow at the highest rate during the forecast period due to the rising prevalence of cancer, increasing preference for minimally invasive procedures in hospital settings, and developing healthcare infrastructure in emerging countries.
“On the basis of site, the breast segment is expected to hold the largest share of the market in 2019.”
On the basis of site, the aspiration and biopsy needles market is segmented into breast, lung, colorectal, prostate, kidney, and bone & bone marrow. The breast segment accounted for the largest share of the aspiration and biopsy needles market in 2019. The large share of this segment is mainly attributed to the rising prevalence of breast cancer as well as growing awareness about the disease and increasing research activity pertaining to breast screening and diagnosis
“Image-guided procedure segment is expected to witness the highest growth during the forecast period.”
On the basis of procedure, the aspiration and biopsy needles market is segmented into image-guided procedures and nonimage-guided procedures. The image-guided procedure segment is projected to grow at the highest CAGR during the forecast period due to the rising preference for minimally invasive biopsy and aspiration procedures.
“Asia Pacific is expected to grow at the highest CAGR in the market, by region, during the forecast period.”
Emerging economies such as India, China, and South Korea are offering high-growth opportunities for market players. The Asia Pacific market is expected to grow at the highest CAGR during the forecast period. Increasing initiatives by government for the cancer diagnostics and screening, rising research activity, and the high incidence of cancer in key APAC countries such as India and China are the major factors driving the growth of this regional market.
Breakdown of supply-side primary interviews:
By Company Type: Tier 1 - 45%, Tier 2 - 34%, and Tier 3 - 21%
By Designation: C-level - 28%, Director-level - 19%, and Others - 53%
By Region: North America - 35%, Europe - 32%, APAC - 25%, and RoW - 8%
The major players operating in the global aspiration and biopsy needles market are
CONMED Corporation(US), Medtronic Plc(Ireland), Olympus -Japan, Becton, Dickinson and Company(US), Boston Scientific Corporation(US), Cook Group Incorporated(US), Argon Medical Devices, Inc(US), INRAD Inc.(US), Somatex Medical Technologies(Germany), Stryker Corporation(US), Cardinal Health(US), Remington Medical(US), HAKKO CO.,LTD(Japan), and Merit Medical Systems(US).
This report studies the aspiration and biopsy needles market by product, site, procedure, end user, and region. It also covers factors affecting market growth, analyzes various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders. Furthermore, the study analyzes micromarkets with respect to their individual growth trends and forecasts the size of market segments with respect to key regions—North America, Europe, Asia Pacific, and the Rest of the World.
Reasons to Buy the Report:
From an insights perspective, this research report focuses on various levels of analysis—market ranking the analysis of the top players and their company profiles, which together comprise and discuss basic views on the competitive landscape; emerging segments of the aspiration and biopsy needles market; and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, will help firms garner greater market shares.
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