DUBLIN--(BUSINESS WIRE)--The "Global Aspiration & Biopsy Needles Market by Product (Aspiration Needle, CNB, VAB), Application (Breast, Lung, Bone Cancer), Procedure (Image-guided (Ultrasound, MRI, Stereotactic), Non-image-guided), End user (Hospital, ASC, Academia) - Forecasts to 2027" report has been added to ResearchAndMarkets.com's offering.
The global aspiration and biopsy needles market is valued at an estimated USD 879 million in 2021 and is projected to reach USD 1,303 million by 2027, at a CAGR of 6.8%. 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 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 & surgical centres, ambulatory care centres, diagnostic clinics & pathology laboratories, and research & academic institutes. The hospitals & surgical centres 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 application, the breast cancer segment is expected to hold the largest share of the market in 2021
On the basis of application, the aspiration and biopsy needles market is segmented by tumour/cancer applications (breast, lung, colorectal, prostate, kidney, bone & bone marrow, and other cancers), wound applications, and other applications. The breast cancer segment accounted for the largest share of the aspiration and biopsy needles market in 2020. 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.
Industry Dynamics
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Drivers
- Rising Prevalence of Cancer
- Cancer Awareness Initiatives Undertaken by Governments and Global Health Organizations
- Increasing Preference for Minimally Invasive Biopsies
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Restraints
- Risk of Infections Associated with the Use of Aspiration and Biopsy Needles
- Product Recalls
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Opportunities
- Emerging Economies
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Challenges
- Underdeveloped Healthcare Infrastructure and Dearth of Well-Trained Radiologists and Oncologists
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Industry Trends
- Emergence of Liquid Biopsy
Regulatory Analysis
- North America
- Europe
- Asia-Pacific
Research Coverage
This report studies the aspiration and biopsy needles market by product, application, 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, Latin America, and Middle East & Africa.
Companies Profiled
- Argon Medical Devices, Inc.
- Becton, Dickinson and Company (BD)
- Boston Scientific Corporation
- Cardinal Health, Inc.
- Conmed Corporation
- Cook Group Incorporated
- Creganna
- Dr. Japan Co. Ltd.
- DTR Medical
- Hakko Co. Ltd.
- Inrad Inc.
- Iscon Surgicals Ltd.
- Johnson & Johnson Medical Devices
- Medax Medical Devices
- Meditech Devices
- Medtronic, plc
- Merit Medical Systems
- Olympus Corporation
- Ranfac Corporation
- Remington Medical Inc.
- Shanghai SA Medical & Plastic Instruments
- Somatex Medical Technologies
- Sterylab Srl
- Stryker Corporation
- Wellgo Medical Products GmbH
For more information about this report visit https://www.researchandmarkets.com/r/6uysbr
