According to the new market research report “Aspiration and 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 needle market is estimated to grow at a CAGR of 7.3% to reach USD 1,272 Million by 2024 from USD 894 Million in 2019. Factors such as the rising prevalence of cancer, initiatives undertaken by government and global health organizations, and the increasing preference for minimally invasive procedures are the major factors driving the growth of the aspiration and biopsy needle market.
By product, the biopsy needles segment accounted for the largest share of the aspiration and biopsy needles market
On the basis of product, the market is segmented into aspiration and biopsy needles. The biopsy needles segment accounted for the largest share of the fine needle aspiration market in 2019. The large share of this segment can be attributed to the rising prevalence of cancer and increasing preference for minimally invasive diagnostic procedures.
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By site, the breast segment held 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. In 2019, the breast cancer segment accounted for the largest share of the market. The large share of this segment is mainly attributed to the rising prevalence of breast cancer, growing awareness about the disease, and increasing research activity pertaining to breast screening and diagnosis.
Image-guided procedures accounted for the largest share of the aspiration and biopsy needles market, by procedure
On the basis of procedure, the aspiration and biopsy needle market is segmented into image-guided procedures (ultrasound-guided biopsy, stereotactic-guided biopsy, MRI-guided biopsy, and other image-guided procedures) and nonimage-guided procedures. Image-guided procedures accounted for the largest share of this market in 2018, primarily due to the provision of accuracy provided by it in locating the mass of cells and liquid hence helping it in accuracy for diagnosis.
North America accounted for the largest share of the aspiration and biopsy needles market in 2019
This report covers the aspiration and biopsy needle market across four major geographies—North America, Europe, Asia Pacific, and the Rest of the World. North America commanded the largest share of the fine needle aspiration market in 2019.Factors such as the increasing prevalence of cancer in the US and Canada and cancer awareness initiatives undertaken by local governments and global health organizations in the North America region are the key factors driving market growth.
Key Market Players
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) are some of the major players in the aspiration and biopsy needles market.
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Recent Developments Product
Launches and Approvals
- In September 2018, Olympus (Japan) received FDA approval for its EZ Shot Plus 25 G needle
- In April 2016, Olympus (Japan) launched aspiration biopsy needles with Side Port – Reusable (NA-2C-1)
- In November 2015, Cook Group (US) Incorporated launched EchoTip ProCore 20 Gage Needle for ultrasound-guided fine needle biopsy (FNB)
- In January 2019, IZI Medical Products acquired Cook Medical’s soft tissue biopsy and breast localization needle product line.
- In February 2018, Merit Medical Systems, Inc. announced the closure of its purchase of divestment assets from BD (Becton, Dickinson and Company)
Key Questions Addressed in This Reports
- What are the strategies adopted by the top market players in the aspiration and biopsy needles market to penetrate emerging markets?
- Who are the major players offering fine needle aspiration across major geographies?
- Emerging countries offer opportunities for the adoption of aspiration and biopsy needles. Will this scenario continue for the next five years?
- What are the factors impacting the growth of aspiration & biopsy needles market globally?
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