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Aspiration and Biopsy Needles Market Size Worth USD 630.7 Million in 2030 | Emergen Research

Aspiration and Biopsy Needles Market

The global aspiration & biopsy needles market size was USD 875.3 Million in 2021 and is expected to register a revenue CAGR of 6.8% during the forecast period, according to the latest analysis by Emergent Research. The increasing prevalence of cancer, implementation of stringent government regulations regarding cancer management, and rise in awareness among the population about early detection of cancer are anticipated to fuel the market growth.

According to the World Health Organization (WHO), over 18 million cases of cancer were reported globally in 2018. This number is projected to increase to 27 million by 2040. Moreover, as per the International Agency for Research on Cancer, cancer is the second most common cause of death worldwide with approximately 9.6 million fatalities in 2018.

The COVID-19 pandemic has hurt the market as elective procedures were postponed due to the outbreak. However, with the gradual reopening of healthcare facilities and the increase in the number of cancer cases, the market is expected to gain traction in the coming years.

Key players in the market are focused on adopting strategies such as product launches and expansions to gain a competitive edge. For instance, in March 2021, Merit Medical Systems, Inc. launched the AspireHD™ needle biopsy system for obtaining optimal tissue samples with less pain for patients.

In May 2019, Becton, Dickinson, and Company announced the expansion of its manufacturing facility in Covington, Georgia to support the increasing demand for needle-based technologies. The company invested USD 1 billion in this expansion project which is expected to be completed by 2022.

Countries with populations having the highest life expectancy rates have been classified as developed countries. The main reasons behind this are the high healthcare expenditure and the availability of expensive treatments in these countries. Similarly, the availability of early diagnosis techniques has resulted in an increased life expectancy rate in these countries. Aspiration needles are mostly used for biopsy in breast cancer patients. In breast cancer, it is essential to have a needle that can aspirate tumor cells from the breast without harming the surrounding tissues.

Some Key Highlights From the Report

  • Image-guided segment is expected to register a steady revenue growth rate during the forecast period due to procedural advances and constant technological innovations. The demand for biopsy needles is increasing, owing to the rising prevalence of chronic diseases such as cancer, which has resulted in the growth of this market segment. In terms of frequency, aspiration needles are more commonly used than biopsy needles across the globe.
  • Biopsy needles segment accounted for the largest revenue share in 2021 due to the high prevalence of various chronic diseases and growing demand for early diagnosis.
  • Aspiration needles segment is projected to register the fastest growth over the forecast period owing to benefits such as minimal tissue injury, less trauma, and fast recovery time.
  • North America held the largest revenue share in 2021 due to high awareness about early disease detection, availability of reimbursement policies, and the presence of leading market players in the region.
  • the Asia Pacific accounted for the largest revenue share in the global aspiration & biopsy needles market in 2021, owing to the large patient population base and a growing number of minimally invasive procedures in the region. The market in the Asia Pacific is projected to expand at a rapid CAGR during the forecast period.
  • Some major companies in the global market report include Argon Medical Devices, Inc., Boston Scientific Corporation, BD (Becton, Dickinson, and Company), Cardinal Health, Conmed Corporation, Dr. Japan Co., Merit Medical Systems, Cook Group, Olympus Corporation, Hakko Co., Ltd., and Inrad Inc.

Emergen Research has segmented the global remote access solutions market based on product, procedures, application, and region:

  • Product Outlook (Revenue, USD Million; 2019-2030)
    • Biopsy needles
      1. Vacuum-Assisted Biopsy (VAB) needles
      2. Core-Needle Biopsy (CNB) needles
    • Aspiration needles
  • Procedures Outlook (Revenue, USD Million; 2019-2030)
    • Ultrasound-guided
    • CT-guided
    • MRI guided
    • Image-guided
    • Stereotactic
    • Others
  • Application Outlook (Revenue, USD Million; 2019-2030)
    • Cancer/Tumor
      1. Lung cancer
      2. Breast cancer
      3. Prostate cancer
      4. Kidney cancer
      5. Bone & bone marrow cancer
      6. Other cancers
    • Wound
    • Others
  • Regional Outlook (Revenue, USD Million; 2019-2030)
    • North America
      1. the U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. France
      3. the U.K.
      4. Italy
      5. Spain
      6. Benelux
      7. Rest of Europe
    • the Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Turkey
      5. Rest of MEA

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