According to FMI, the aspiration & biopsy needles market size is estimated to reach USD 1,405.2 million by 2033. Over the forecast period, the market is assessed to trail at a CAGR of 6.1%. In 2023, the market is expected to reach USD 777.29 million.
Proliferation of cancer is expected to favor demand for these needles. Further, growing preference for minimally invasive procedures is expected to catalyze market growth. Factors strengthening the future market growth include cancer awareness programs conducted by governments and global health organizations.
Radiologists and surgeons deploy biopsy needle techniques such as core-needle and fine-needle procedures or biopsy to examine anomalies at a specific spot. Unfortunately, aspiration and biopsy needles are frequently reused, raising the risk of infection during operations. The reuse of needles is discouraged by healthcare authorities and product manufacturers. Still, the practice persists, resulting in the sluggish growth of the market.
| Attributes | Details |
|---|---|
| Aspiration & Biopsy Needles Market Base Year (2022) | USD 729 million |
| Aspiration & Biopsy Needles Market (2023) | USD 777.29 million |
| Aspiration & Biopsy Needles Market CAGR (2017 to 2022) | 5.4% |
| Aspiration & Biopsy Needles Market CAGR (2023 to 2033) | 6.1% |
| Aspiration & Biopsy Needles Market (2033) | USD 1,405.2 million |
| Aspiration & Biopsy Needles Market Attraction | Asia Pacific to gain momentum |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Cancer is most common in more developed locations. However, mortality is greater in less developed nations due to a lack of access to treatment facilities. Adding onto this is the lack of understanding about the benefits of early identification.
Frequency of cancer in key global countries is increasing. As a result, propelling the demand for laparoscopic aspiration needles and accurate cancer detection in the future years. Overall, the aspiration and biopsy needles market is likely to rise throughout the forecast period.
Core-needle, fine-needle, and laparoscopic aspiration needles aid radiologists and surgeons in analyzing anomalies at a specific spot. Patients can, however, become infected during these treatments since they require cuts and incisions for collecting tissue samples.
Aspiration and biopsy needles are reused in certain situations, increasing the risk of infection during these operations. However, healthcare authorities or product makers do not suggest reusing some laparoscopic aspiration needles. But it is a common practice, particularly in underdeveloped nations.
Principal Consultant
Disruptive trends are expected in the business. These range from shifting supply chains to cost savings, automation, and customer emphasis. Companies that recognize industry trends and align their operations with them are expected to earn significant market share.
Emerging economies like India, China, Brazil, and Mexico are projected to offer significant growth opportunities for competitors. This can be attributed several factors like:
These emerging countries' rapid economic development and rising healthcare expenditures have enhanced access to high-quality healthcare, including cancer treatment. As a result, the global market provides fresh growth prospects for established players and new entrants.
The demand for biopsy operations is projected to rise in the future years. This can be attributed to the growing awareness among people regarding various types of malignancies. However, trained surgeons who can undertake minimally invasive biopsy techniques are in short supply.
This aspect is expected to have a greater impact in developing and impoverished areas. For example, in Sub-Saharan Africa, this is one of the biggest challenges in providing care for patients with curable cancers. There is a shortage of medical oncologists, radiation oncologists, and other cancer-related healthcare professionals.
Similarly, India has a scarcity of oncologists, radiotherapists, and surgical oncologists. Although there are 1.8 million cancer patients in the country, there is only one doctor for every 2,000 cancer patients.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
In the historical period, the aspiration & biopsy needles market attained CAGR of 5.4%. By 2023, the market is expected to generate market revenue of USD 777.29 million. Multiple factors collectively thrusted market development:
From 2023 to 2033, the market is expected to see a rise, registering a 6.1% CAGR. By the end of forecast period, the market is anticipated to attain USD 1,405.2 million. Technological upgradations are projected to mark the forecast period growth. Mergers and acquisitions are likely to increase, and so are the innovative solutions.
Needle biopsy procedure is also forecast to observe increase in implementation. However, the looming fear of infection via these needles may hold back market growth. FMI has analyzed some key trends for future.
These aspects are projected to assist market growth over the forecast period.
| Historical CAGR (2017 to 2022) | 5.4% |
|---|---|
| Forecast CAGR (2023 to 2033) | 6.1% |
According to the Institute for Health Metrics and Evaluation (IHME), the incidence of breast cancer is expected to increase. Rising awareness among patients and healthcare professionals has increased the number of cancer cases detected throughout Asia, particularly in China and India.
In North America, the market is flourishing on account of various factors. Surge in cancer cases, research and development for better treatment options, etc., are propelling market growth. High per capita health expenditure also boosts the regional growth. In 2022, North America has acquired 34% share of aspiration and biopsy needles market. Going forward, the region is expected to fare well over the upcoming period.
However, advances in imaging technology such as computed tomography and magnetic resonance imaging are expected to limit the global aspiration & biopsy needles market. Fluid biopsy's emergence may inhibit the market growth.
People are finding it difficult to finance medical costs and choose for less invasive operations in low-income nations. These nations have just 20% of health insurance reimbursements. These are provided for procedure-related expenditures of fine-needle biopsy and core-needle biopsy in the treatment of cell carcinoma.
The occurrence of blood diseases such as leukemia and aplastic anemia in developed and developing nations is increasing. This is driving the global bone marrow aspiration and biopsy needles market forward. Inadequate infrastructure for bone marrow biopsy, on the other hand, is expected to hamper the market in underdeveloped nations in the forecast period.
| Top Segment | Market Share |
|---|---|
| Hospitals | 46% |
| Core Biopsy Needles | 58.6% |
The image-guided procedure is expected to lead the global market in the forecast period. The minimally invasive biopsy and aspiration is gaining more preference in the medical practices. As a result, the demand for the image-guided procedure is also increasing.
Increasing awareness regarding cancer and its treatment is resulting in people going for checkups more frequently. Consequently, pushing the market growth.
There are segments from the product category like biopsy needles, CNB needles, VAB needles, and aspiration needles. However, the biopsy needles segment holds a considerable share. Increasing cases of cancer and the high preference for using minimally invasive diagnostic procedures on excision biopsies are aiding the segment growth.
Cancer/ tumor segment leads in this category. The segment is likely to thrive in the forecast period. The driving factors for this growth include the growing awareness of the disease and increasing cases in the developed regions due to the lethargic lifestyle.
| Region/ Country | 2022 Value Share |
|---|---|
| North America | 34% |
| Europe | 26% |
| The United States | 25.4% |
| Germany | 7.3% |
| Japan | 9.9% |
| Countries | CAGR Value |
|---|---|
| Australia | 7.1% |
| China | 6.9% |
| India | 8.3% |
China and India are building and reconstructing their medical and healthcare space. The related markets are also expected to observe healthy growth in the forecast period with these developments. This can be attributed to the surge in chronic diseases instigated by inactive and idle lifestyle.
Aspiration and biopsy needles have several applications, including drug applications and diagnostics. Increased investments for cancer diagnostics and screening programs, research, and developments are boosting the market growth.
North America acquired 34% market share and Europe acquired 26% market share. New research programs launched by governments, considering the emerging new diseases, are expected to boost market growth. Here, these needles are used by surgeons, diagnostic centers, and hospitals according to the biopsies like bone needle biopsy thyroid biopsy needle size. This is increasing the demand for aspiration & biopsy needles.
Recent Developments in the Aspiration & Biopsy Needles Market
Similar to any other medical and healthcare market, the aspiration and biopsy market also shares the dynamic nature in the global market space. Aspiration & biopsy needles market outlook explains that the competitors in the market create new products according to the USP.
Therefore, the market revolves around segments, regions, and new distribution channels. These companies are Merit Medical Systems, Cook Group Incorporated, Olympus Corporation, Medtronic PLC, Argon Medical Devices Inc., Boston Scientific Corporation, Cardinal Health Inc., Conmed Corporation, and Inrad Inc.
Key Players in the Market
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD million for value and units for volume |
| Key Region Covered | North America; Asia Pacific; Middle East and Africa; Europe; Latin America |
| Key Countries Covered | The United States, Canada, Germany, The United Kingdom, France, Italy, NORDICS, Spain, Russia, Poland, BENELUX, China, Japan, India, ASEAN, Oceania, South Korea, Brazil, Mexico, Argentina, GCC Countries, South Africa, Northern Africa, Türkiye |
| Key Segments Covered | Product Type, Procedure, Application, End User, and Country |
| Key Companies Profiled | Merit Medical Systems; Cook Group Incorporated; Olympus Corporation; Medtronic PLC; Argon Medical Devices Inc.; Boston Scientific Corporation; Cardinal Health Inc.; Conmed Corporation; Inrad Inc. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global sales of such needles are estimated to gather USD 777.29 million in 2023.
The global demand is forecasted to grow at 6.1% through 2033.
The net worth of the global market might reach about USD 1,405.2 million by 2033.
34% of the global sales in 2022 made North America the dominant regional market.
Merit Medical, Cook Group, and Olympus are the key players in the present market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Biopsy Needles 5.2. Aspiration Needles 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Procedure 6.1. Image-guided 6.2. Nonimage-guided 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 7.1. Hospitals & Surgical Centres 7.2. Diagnostic Clinics 7.3. Pathology Laboratories 7.4. Ambulatory Care Centres 7.5. Research & Academic Institutes 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. South Asia 8.5. East Asia 8.6. Oceania 8.7. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Medical Systems 18.2. Cook Group Incorporated 18.3. Olympus Corporation 18.4. Medtronic PLC 18.5. Argon Medical Devices Inc. 18.6. Boston Scientific Corporation 18.7. Cardinal Health Inc. 18.8. Conmed Corporation 18.9. Abbott 18.10. Pfizer, Inc. 19. Assumptions & Acronyms Used 20. Research Methodology
Explore Healthcare Insights
View Reports
Aspiration & Biopsy Needles Market
