Aspiration and Biopsy Needles Market 2020 – 2030 Analysis With Top 10 key Players
The global aspiration & biopsy needles market size was USD 875.3 Million in 2021 and is expected to register a revenue CAGR of 6.8% during the forecast period, according to latest analysis by Emergen Research. Rising prevalence of cancer cases owing to various lifestyle changes, rapid urbanization and rising pollution levels, and changing consumption habits and increasing cancer awareness programs and screening and tests by governments and various global health organizations are some of the key factors driving global aspiration and biopsy needles market revenue growth. According to World Cancer Research Fund International, around 18,094,716 million cases of cancer were diagnosed in 2020.
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Countries with populations having the highest life expectancy, high standard of living, and education level have higher cancer rates as per International Agency for Research on Cancer. However, for certain cancer such as cervical cancer, the incidence rate is highest in countries with low life expectancy. Growing pollution and tobacco smoking are some of the factors contributing to the increase in cancer rates as well. According to the National Cancer Institute (NCI), which is a principal agency for cancer research of the U.S. government, the most common cancers are breast cancer, lung cancer, thyroid cancer, prostate cancer, colon and rectum cancer, liver cancer, kidney cancer, leukemia, pancreatic cancer, and bladder cancer. Prostate, colorectal, and lung cancers account for around 43% of all cancer cases in men while breast, colorectal, and lung cancers has been expected to register around 50% of all new cancer cases diagnosed in women in 2020.
Growing preference for minimal invasive surgeries than open and closed surgical biopsies is a major factor expected to drive market growth. Provision of faster and more accurate and reliable diagnosis of tumors in a resource-restrained setting with minimal requirement of instruments is boosting demand for aspiration & biopsy needles, especially in highly populated and emerging countries. Cost-effectiveness and accessibility of aspiration and biopsy needles are contributing significantly to revenue growth of the market. Ease of detection of cysts, enlarged lymph nodes, and nodules in addition to lower risk of complications are increasing demand for Fine-Needle Aspiration (FNA) in various healthcare settings and diagnostic centers. Furthermore, rapid technological advancements and high value healthcare funding are increasing testing for cancer with needle-based biopsy instruments, which is expected to significantly boost revenue growth of the segment during the forecast period.
However, risk of infections and needlestick, and lack of availability of well-trained radiologists and surgeons are some of the key factors expected to drive reluctance among potential patients to some extent over the forecast period.
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Some Key Highlights From the Report
Biopsy needles segment accounted for largest revenue share in 2021. High accuracy and less invasive in obtaining tissue samples for diagnosis are major factors expected to continue to drive revenue growth of this segment over the forecast period. Growing preference for minimally invasive diagnostic procedures over conventional methods attributes to the rapid adoption of segment. Biopsy needles enable accurate examination of tissue and identification of other conditions such as inflammatory, infections, and autoimmune disorders. Provision of performing procedures in outpatient settings with minimal requirements of preparation is a major factor driving demand for biopsy needles, especially in resource-restrained countries.
Image-guided segment is expected to register a steady revenue growth rate during the forecast period. Ease of detection as image-guided needle biopsy enables doctors to inspect suspicious areas that cannot be felt through the skin or are easily visible. This is a key factor driving high demand for image-guided biopsy needle procedures. Rising preference for minimally invasive biopsy is a major factor supporting growth of this segment.
Cancer/tumor segment is expected to account for a significantly large revenue share over the forecast period. Rapid urbanization and industrial development, and rising pollution levels and emissions are contributing to increasing number of health disorders and prevalence of cancers thereby increasing the demand for treatments. Rising awareness regarding various cancers is another factor driving revenue growth of this segment, especially since the pandemic increased need for screening and testing. Rising cases of suspicious lesions is also increasing need for faster pathological confirmation of malignancy for proper treatment. According to World Health Organization (WHO), in 2020, around 2.3 million women were diagnosed with breast cancer, and 685,000 death were recorded globally.
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Asia Pacific accounted for largest revenue share in the global aspiration & biopsy needles market in 2021, owing to increasing healthcare investments and on infrastructure modernization, and cancer awareness initiatives by various governments.
Increasing cancer diagnostics and screening initiatives by government and insurance organizations coupled with increasing research activities are factors boosting growth of the market. Increasing per capita income and rapid industrialization in emerging economies such as China, India, and South Korea are likely to open-up high-growth prospective for companies operating in the Asia Pacific aspiration & biopsy needles market.
Some major companies in the global market report include Argon Medical Devices, Inc., Boston Scientific Corporation, BD (Becton, Dickinson and Company), Cardinal Health, Conmed Corporation, Dr. Japan Co., Merit Medical Systems, Cook Group, Olympus Corporation, Hakko Co., Ltd., and Inrad Inc.
Emergen Research has segmented the global remote access solutions market on the basis of product, procedures, application, and region:
Product Outlook (Revenue, USD Million; 2019-2030) Biopsy needles Vacuum-Assisted Biopsy (VAB) needles Core-Needle Biopsy (CNB) needles Aspiration needles
Procedures Outlook (Revenue, USD Million; 2019-2030) Ultrasound-guided CT-guided MRI guided Image-guided Stereotactic Others
Application Outlook (Revenue, USD Million; 2019-2030) Cancer/Tumor Lung cancer Breast cancer Prostate cancer Kidney cancer Bone & bone marrow cancer Other cancers Wound Others
Regional Outlook (Revenue, USD Million; 2019-2030) North America U.S. Canada Mexico Europe Germany France U.K. Italy Spain Benelux Rest of Europe Asia Pacific China India Japan South Korea Rest of APAC Latin America Brazil Rest of LATAM Middle East & Africa Saudi Arabia UAE South Africa Turkey Rest of MEA
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Questions addressed in the report: What is the estimated market growth rate throughout the forecast period? Which end-use industry is expected to witness the highest demand for Aspiration and Biopsy Needles in the near future? What is the regulatory framework governing the application of Aspiration and Biopsy Needles in the food industry? Which manufacturing processes are utilized for the production of Aspiration and Biopsy Needles?
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