[300 Pages Report] Aspiration and Biopsy Needles Market is expected to grow at a high CAGR of 6.8% during the forecasting period (2023-2030).
Aspiration and Biopsy Needles Market - Strategic Insights
By Product Type, By Application, By Procedure, By End user and By Region
Report Insights Covered
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.
Fastest Growing Region
Largest Market Share
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Fine needle aspiration is a type of procedure for biopsy. A thin needle is inserted into the area of abnormal-appearing tissue or body fluid during fine needle aspiration. As with other types of biopsies, the sample collected from body fluid or abnormal tissue during the fine needle aspiration can help diagnose or rule out cancer conditions. Fine needle aspiration is usually considered a safe procedure. Standard needle biopsy procedures include fine-needle aspiration and core needle biopsy.
Needle biopsy has a small risk of bleeding and infection at the site where the needle was inserted. Some mild pain can be expected after a needle biopsy, though it is usually controlled with over-the-counter pain relievers.
The growth in global aspiration and biopsy needles market is driven by the growing incidence of various cancer cases, initiative programs undertaking by the government to improve clinical awareness among the common people are among the key factors growing the market growth.
Increasing prevalence of various cancers, is expected to drive the growth in the forecast period
The growing incidence of cancer is the most crucial factor driving the growth of the aspiration and biopsy needles market. According to the World Health Organization (WHO), in 2030, 21.4 million new patients will be diagnosed with malignant tumors, compared to 12.7 million in 2008. Also, cancer accounted for 9.6 million deaths across the globe in 2018. Looking at the growth in the cancer cases reported every year, the government and health ministries are stepping forward to invest more in medical equipment.
Initiative programs undertaking by the government to improve clinical awareness among the common people
By Indian Cancer Society: Cancer Awareness Campaign 2019: The campaign is called "Raho cancer se do Kadam aage,"aims to create cancer awareness amongst the population of India. It is essential to destroy the myths that people wrongly believe, inform them about the signs and symptoms and the importance of screening for early detection. It is also essential to follow a healthy lifestyle, and sharing survivor stories give hope and confidence.
National Comprehensive Cancer Control Program: More than 98,000 people have been involved in cancer coalitions, and Sixty-nine cancer plans have been created and updated.
National Breast and Cervical Cancer Early Detection Program (NBCCEDP): Through the NBCCEDP, CDC helping low-income, uninsured, and underinsured women to gain access to frequent breast and cervical cancer screening, diagnostic, and treatment services. . During 2016–2017, about 5.3% of U.S. women were eligible for this program, breast cancer screening services, and the program served 15.0% of qualified women.
High cost of treatment in low- income countries is likely to hinder the market growth
With low-income countries providing only 20% of health insurance reimbursements, it is becoming difficult for people to afford the bills and opt for minimally invasive surgeries. For instance, As per the National Library of Medicine, the Procedure-related costs were $368.5 and $981.0 for fine-needle aspiration biopsy and core-needle biopsy in the treatment of cell carcinoma.
Due to the covid-19 pandemic outbreak, the market was down due to the barriers in production and sale segments. Since the outbreak led to all manufacturing firms' shutdown except for masks, sanitizers and ventilators, the products were manufactured less compared to the previous year.
Based on the Product Type, the global aspiration and biopsy needle market is segmented into core-needle biopsy and fine-needle biopsy.
Based on the type of products, there are two types of needles used for biopsy purpose. One being core needles and other being fine needles. Core needles are expected to experience a higher CAGR in the market for aspiration and biopsy needles during the forecast period. More tissue can be extracted by a core needle biopsy than by a fine needle biopsy. As per the National Library of Medicine, in determining the exact diagnosis, fine-needle aspiration had a 33.3% accuracy, and core biopsy had a 45.6% accuracy. Concerning eventual treatment, fine-needle aspiration was 38.6% accurate, and core biopsy was 49.1% accurate. In soft tissue mass diagnosis, core biopsy is more precise than fine-needle aspiration. As a result, more information about the cells and tissue extracted can be given.
Based on application, the global aspiration and biopsy needle market is segmented into breast biopsy, lung biopsy, prostate biopsy, bone marrow biopsy.
The highest revenue-generating segment on the market for aspiration and biopsy needles, based on application, will be breast biopsy before 2030. According to the Institute for Health Measurements and Evaluation (IHME), due to the increasing prevalence of breast cancer, 2017 killed 611,625 women, compared to 600,762 in 2016.
Based on procedure, the global aspiration and biopsy needle market is segmented into image-guided procedures and non-image guided procedures.
Based on Procedure, the global Aspiration and Biopsy Needles market is segmented into image-guided procedures (Ultrasound-guided, Stereotactic-guided, Magnetic Resonance Imaging MRI-guided, and Other image-guided procedures) and Non-image-guided procedures. Image Guided procedure is highly preferred by surgeons, reason being that image guided procedure has minimum chances of diagnosis errors by accurately locating the mass of cells and liquid.
Based on end user, the global aspiration and biopsy needle market is segmented into hospitals, diagnostic and imaging centers, research institutes.
As an end-user, hospitals held the largest market share during the historical period (2014-2019), and the situation in the coming years is projected to be the same. This is because hospitals serve a far larger number of patients relative to diagnostic centers and clinics and developing healthcare infrastructure in emerging nations.
Asia - Pacific region holds the largest market share in global aspiration and biopsy needles market
Asia- Pacific holds the largest share in the market. The reason can be attributed to the fact that the leading Olympus company which is a Japanese based company holds around 70% of the endoscope market. It is reported by CDC that, Australia is leading country with 468 cases of cancer per 100,000 population. Followed by New Zealand and Ireland. The reason can be attributed to fast growing industrialization and growing consumption of alcohol and drugs.
North America also expected to fast-growing market in the forecasting period owing to the increasing prevalence of cancer patients and its awareness programs undertaken by the local government and global health organisation in the region are the key factors of the market growth.
The global aspiration and biopsy needles market is highly competitive with key layers like Olympus Corporation, Boston Scientific Corporation, Medtronic plc, Becton, Stryker Corporation, Dickinson and Company, Argon Medical Devices, CONMED Corporation, Merit Medical Devices, Inc., Sterylab s.r.l. These companies adopted the strategy of product launch, acquisition and investments in major sectors and partnerships. For instance, Boston Scientific Corporation acquired 44 companies with Preventive Solutions being its recent acquisition.
In February 2018, the US-based Merit Medical Systems, Inc. announced the closure of its purchase of divestment assets from BD (Becton, Dickinson and Company).
Company Overview: Olympus Corporation is a maker of optics and reprography products in Japan. On 12 October 1919, Olympus was founded, initially specializing in microscopes and thermometers. Olympus owns approximately 70 percent of the global endoscope market, which is estimated to be worth around US$2.5 billion.
Product Portfolio: The Company’s portfolio comprised of manufactured products like TBNA Needles,
Reusable- Aspiration Biopsy Needles with side ports (NA-2C-1)
The needle is made of stainless-steel sheath which protects the biopsy channel during insertion and enables accurate positioning while side port allows larger cell collection.
On Sep 2018, Olympus announced clearance from FDA for its new innovation, EZ Shot 3 Plus 25 G EUS Needle with enhanced manoeuvrability. This product has predictability feature which can predict trajectory and echogenicity of EZ Shot 3 Plus line, offering an expanded indication for FNA and FBA.
What is the Aspiration and Biopsy Needles Market growth?
The market is growing at a CAGR of 6.8%.
What is Aspiration and Biopsy Needles Market size in 2023?
The Aspiration and Biopsy Needles Market size was valued at USD YY million in 2023.
Who are the key players in Aspiration and Biopsy Needles Market?
Olympus Corporation, Boston Scientific Corporation, Medtronic plc, Becton, Stryker Corporation, Dickinson and Company.
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