The global aspiration & biopsy needles industry demand is on an upward trajectory, as per the latest insights from Future Market Insights (FMI). The market, estimated at US$ 777.29 million in 2023, is anticipated to expand significantly and hit a valuation of US$ 1,405.2 million by 2033, exhibiting a Compound Annual Growth Rate (CAGR) of 6.1% over the forecast period.
The increasing demand for minimally invasive procedures, coupled with technological advancements in healthcare, is driving the growth of the aspiration and biopsy needles market. These needles play a crucial role in diagnostic and therapeutic procedures, contributing to their rising adoption across various medical fields.
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“The forecasted market expansion indicates a burgeoning need for advanced medical devices and a growing preference for less invasive diagnostic procedures,” stated a spokesperson from Future Market Insights.
Aspiration and biopsy needles find extensive application in oncology, interventional radiology, and other specialties, aiding in precise tissue sampling and diagnosis. The market growth is further fueled by the escalating prevalence of cancer and chronic diseases worldwide, emphasizing the importance of early and accurate diagnosis for improved patient outcomes.
FMI’s comprehensive analysis highlights the evolving landscape of the aspiration and biopsy needles market, indicating opportunities for manufacturers, healthcare providers, and investors to capitalize on this growth trend.
Top Highlights from the FMI’s Analysis of the Aspiration & Biopsy Needles Market:
- North America represented 34% market share in 2022. The regional market is projected to lead the market over the upcoming years. This can be attributed to the strong presence of market participants in the region. The introduction of new product lines and higher accessibility to treatment facilities in North America is pushing the market growth.
- Europe demonstrated a 26% overall market share. The industry growth has been catalyzed by many research and development activities and studies.
- Hospitals are expected to capture a significant portion of the market. In 2022, the segment acquired 46% of the market. Building upon the prior growth, the future market scope of the segment looks bright.
- The core biopsy needles segment attained a 58.60% market share in 2022. The demand graph of this product segment is projected to show an upward trend.
- India is expected to grow at lightning-bolt speed in the coming years. FMI has predicted an 8.3% CAGR for India from 2023 to 2033.
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- Micro-Tech Endoscopy strives to develop high-quality products for endoscopic diagnosis. In October 2021, the company released an improved version of EUS needles, such as Trident FNB and Areus FNA.
- NeoDynamics AB is a MedTech company, which is devoted to enhancing breast cancer treatment and diagnosis. The company’s patent for a biopsy needle got approved in the United States, in August 2021, to be used in NeoNavia FlexiPulse probe.
- In January 2019, IZI Medical Products procured the needle product line of soft tissue biopsy and breast localization of Cook Medical.
Key Players in the Market:
- Merit Medical Systems
- Cook Group Incorporated
- Olympus Corporation
- Medtronic PLC
- Argon Medical Devices Inc.
- Boston Scientific Corporation
- Cardinal Health Inc.
- Conmed Corporation
- Inrad Inc.
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Key Segments:
By Product Type:
- Biopsy Needles
- Aspiration Needles
By Application:
- Tumor/Cancer Applications
- Wound Applications
- Other Applications
By Procedure:
- Image-guided Procedures
- Non-image-guided Procedures
By End User:
- Hospitals & Surgical Centers
- Diagnostic Clinics & Pathology Laboratories
- Ambulatory Care Centers
- Research & Academic Institutes
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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