DUBLIN--(BUSINESS WIRE)--The "Steerable Needles Market Size, Share & Trends Analysis Report By Type (Bevel-tip Flexible, Symmetric-tip), By Application (Biopsy, Tumor Ablation, Robotic Assisted Surgery), By End-use, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global steerable needles market size is expected to reach USD 1.91 billion by 2030, registering a CAGR of 6.38% from 2023 to 2030
This growth can be attributed to the increasing demand for technologically advanced steerable needles among different healthcare settings to perform robotic surgery.
According to the National Center for Biotechnology Information (NCBI), around 876,000 robotic-assisted surgery (RAS) procedures were performed in 2020. Thus, an increasing number of robotic-assisted surgery (RAS) cases are anticipated to boost demand for steerable needles during the forecast period.
Significant technological advancements have been made in the development of steerable needles in recent years. These advancements have led to the development of more precise and accurate steerable needles and steerable needles that are compatible with a wide range of imaging modalities.
For instance, in October 2022, Strasbourg University's Lennart Rubbert and EPFL's Charles Baur developed a needle with a steerable tip known as the ARC needle. Currently, this ARC needle technology is being commercialized by the French Company Conectus.
Thus, the successful completion of clinical trials and subsequent approval of products is projected to fuel the market growth over the forecast period. Moreover, several global market players are undertaking various initiatives such as joint ventures to strengthen their market positions. This strategy enables companies to increase their capabilities, improve their competencies, and expand their product portfolios.
For instance, in April 2023, Serpex Medical and Body Vision Medical jointly announced the completion of the first lung nodule biopsy using Sepex's compass steerable needle navigated by Body Vision's LungVision real-time, intraoperative CT imaging system carried out by Dr. Michael Machuzak at Cleveland Clinic. This initiative will strengthen the adoption of newly launched steerable needles worldwide, thereby driving the market growth.
Steerable Needles Market Report Highlights
- In 2022, the bevel-tip flexible needle dominated the type segment, owing to its growing usage in different healthcare settings such as hospitals, dental clinics, and others
- In 2022, the biopsy segment dominated the application segment, owing to the increased awareness about the importance of steerable needles over traditional needles in medical surgical centers to perform safe and effective biopsies
- In 2022, the hospitals segment dominated the end-use segment, due to the increased number of hospital admissions related to chronic diseases such as cancer, cardiovascular disease, and neurological disease
- The North America region held the largest share of the market in 2022, owing to the technological advancements and high investment by the government to support the adoption of advanced steerable needles
- Market players adopt several strategic initiatives to increase the product reach and improve availability in diverse geographic areas
Company Profiles
- AprioMed, Inc.
- Merit Medical Systems.
- DEAM
- Johnson & Johnson Services, Inc.
- Boston Scientific Corporation
- Serpex Medical.
- Olympus Corporation
- SKYTRON.
- Medtronic.
- APT Medical Inc.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 130 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $1.2 Billion |
| Forecasted Market Value (USD) by 2030 | $1.91 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Type outlook
2.2.2. Application outlook
2.2.3. End-use outlook
2.2.4. Regional outlook
2.3. Competitive Insights
Chapter 3. Steerable Needles Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Market Dynamics
3.2.1. Market driver analysis
3.2.1.1. Rising preference for minimally invasive surgical procedures
3.2.1.2. Increasing prevalence of chronic diseases
3.2.1.3. Technological advancements
3.2.2. Market restraint analysis
3.2.2.1. High cost of steerable needles
3.2.2.2. Lack of awareness about steerable needles in low-middle-income countries
3.3. Steerable Needles Market Analysis Tools
3.3.1. Industry Analysis - Porter's
3.3.2. PESTEL Analysis
3.3.3. Covid-19 Impact Analysis
Chapter 4. Steerable Needles Market: Type Estimates & Trend Analysis
4.1. Type Market Share, 2018 & 2030
4.2. Segment Dashboard
4.3. Global Steerable Needles Market by Type Outlook
4.4. Market Size & Forecasts and Trend Analyses, 2023 to 2030 for the following
4.4.1. Bevel-Tip Flexible Needles
4.4.2. Symmetric-Tip Needles
4.4.3. Tendonactuated Tips
Chapter 5. Steerable Needles Market: Application Estimates & Trend Analysis
5.1. Application Market Share, 2018 & 2030
5.2. Segment Dashboard
5.3. Global Steerable Needles Market by Application Outlook
5.4. Market Size & Forecasts and Trend Analyses, 2023 to 2030 for the following
5.4.1. Biopsy
5.4.2. Tumor Ablation
5.4.3. Pain Management
5.4.4. Robotic Assisted Surgery
Chapter 6. Steerable Needles Market: End-use Estimates & Trend Analysis
6.1. End-use Market Share, 2018 & 2030
6.2. Segment Dashboard
6.3. Global Steerable Needles Market by End-use Outlook
6.4. Market Size & Forecasts and Trend Analyses, 2023 to 2030 for the following
6.4.1. Hospitals
6.4.2. Ambulatory Surgical Centers
Chapter 7. Steerable Needles Market: Regional Estimates & Trend Analysis
7.1. Regional Market Share Analysis, 2018 & 2030
7.2. Regional Market Dashboard
7.3. Global Regional Market Snapshot
7.4. Market Size, & Forecasts Trend Analysis, 2023 to 2030
Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Company/Competition Categorization
8.2.1. Innovators
8.3. Vendor Landscape
8.3.1. List of key distributors and channel partners
8.3.2. Key customers
8.3.3. Key company market share analysis, 2022
For more information about this report visit https://www.researchandmarkets.com/r/10ydn2
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