Progressing at a CAGR of 4.4%, the global endoscopic ultrasound needles market is projected to increase from a valuation of USD 180.2 Million in 2022 to USD 223.5 Million by the end of 2027.
| Attribute | Details |
|---|---|
| Endoscopic Ultrasound Needles Market Size (2022) | USD 180.2 Million |
| Sales Forecast (2027) | USD 223.5 Million |
| Global Market Growth Rate (2022 to 2027) | 4.4% CAGR |
| Share of Top 5 Market Players | 50% |
Sales of endoscopic ultrasound needles accounted for 1.5% share of the global special purpose needles market in 2021.
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| Particulars | Details |
|---|---|
| H1, 2021 | 4.64% |
| H1, 2022 Projected | 4.59% |
| H1, 2022 Outlook | 4.19% |
| BPS Change - H1, 2022 (O) – H1, 2022 (P) | (-) 40 ↓ |
| BPS Change – H1, 2022 (O) – H1, 2021 | (-) 45 ↓ |
The comparative analysis and market growth rate of global endoscopic ultrasound needles market as studied by Future Market Insights, will show a negative BPS growth in H1-2022 outlook as compared to H1-2022 projected period by 40 BPS, and, a negative BPS growth is expected in H1-2022 over H1- 2021 duration with 45 Basis Point Share (BPS).
The market observed a decline in the growth of the BPS values owed to the adverse events reported with endoscopic ultrasound needles, primarily for pain, infection, acute pancreatitis, and bleeding. This factor relates to the lowered product utilization rates, thus lowering the BPS values.
Conversely, with the introduction of the endoscopic ultrasound-guided fine-needle aspiration technique, the market for endoscopic ultrasound needles is set to witness a positive growth outlook over the forecast period. This technique is useful for the screening of diseases, and pathological diagnosis, which is an essential component of healthcare, especially after the recent advent of the global coronavirus pandemic.
The market is subject to changes as per the disease epidemiology, product adoption rate, and device regulatory dynamics, in accordance to the macro and industry factors.
Rising Advancements in Endoscopic Ultrasound Needle Technology to Accelerate Market Growth
Demand for endoscopic ultrasound needles rose at a CAGR of 4.4% from 2013 to 2021.
Endoscopic ultrasound (EUS) is a minimally invasive treatment that uses both visual and ultrasonic imaging to examine the thoracic and abdominal areas. The rising prevalence of gastrointestinal and stomach cancer around the world is expected to have a significant impact on the market. The market is predicted to see significant expansion due to the growing elderly population.
Physicians are focusing on using high-definition endoscopic ultrasound needle technology and endoscopic ultrasound biopsyneedles using better technology to get more accurate images of the gastrointestinal tract as compared to ultrasound and offer minimally invasive access to areas that are difficult to reach.
Manufacturers in the endoscopic ultrasound needles market are focusing on providing fine needle biopsy (FNB) technology to provide information on tissue architecture and a large amount of tissue for another ancillary testing.
Recently FNB devices have become commercially available and studies have also shown FNB needles to be more appropriate with greater accuracy than FNA needles. This is likely to drive demand for FNB needles in the endoscopic ultrasound needles market.
The market for endoscopic ultrasound needles is anticipated to rise at a CAGR of 4.4% over the forecast period of 2022 to 2027.
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Rising Preference for Minimally-Invasive Surgeries to Boost Market Expansion
Owing to advanced robotic devices, healthcare providers are able to perform minimally invasive and safe surgical procedures. Endoscopic surgery is gaining traction as it uses advanced technology to reach internal organs with help of small incisions resulting in less pain, and quick recovery as compared to the traditional methods of surgery.
These factors are likely to drive the demand for endoscopic ultrasound needles in minimally invasive surgeries.
With the rise in digestive and lung diseases, endoscopic ultrasound is finding wide application as it is a minimally invasive procedure. Moreover, endoscopic ultrasound needles, including FNA, have emerged as a minimally-invasive alternative to exploratory surgery.
High Cost of Endoscopic Ultrasound Needles Restraining Market Growth
Market expansion is being hampered by lack of skilled professionals with expertise in operating with endoscopic ultrasound needles.
The market for endoscopic ultrasound needles will be hindered by high costs, the risk of infection, and stringent rules and regulations imposed by numerous government organizations.
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Asia Pacific is expected to emerge as the lucrative region in the endoscopic ultrasound needles market, offering profit-making opportunities for key stakeholders in the endoscopic ultrasound needles market.
Increasing incidences of chronic diseases in the region is a key factor fueling the demand for bronchial EUS needles. Rising awareness about healthcare and increasing healthcare expenditure are likely to propel market growth in the region.
High Adoption of EUS Techniques for Gastrointestinal Disease Treatments
The market in the USA is developing due to the increasing use of advanced diagnostic methods in pulmonology, cancer, and gastroenterology, as well as the presence of keymarket players.
The USA leads the endoscopic ultrasound needles market owing to a rise in the number of diagnostic centers, the better healthcare infrastructure, growing adoption of EUS techniques for the treatment of gastrointestinal disorders.
Rising Investments by Government Organizations for Healthcare Development
Pharmaceutical and Biotechnology companies are focusing on establishing new production facilities in China due to the low cost of manufacturing. Moreover, the rise in investment by government organizations in the healthcare sector is also accelerating endoscopic ultrasound needles market growth.
The market in China is projected to rise attributed to the widespread adoption of endoscopy, growing awareness about early cancer diagnosis, and the rising demand for minimally invasive procedures.
High Prevalence of Gastrointestinal Tract-Related Cancers to Propel Demand for Aspiration Needles (EUS-FNA)
Aspiration needles (EUS-FNA) are expected to account for 53.7% share of the endoscopic ultrasound needles market in 2022. Endoscopic ultrasound-guided fine-needle aspiration (EUS-FNA) is widely used to diagnose both tumor and inflammatory lesions located in and adjacent to the gastrointestinal tract.
Aspiration needles (EUS-FNA) have become an integral part of the diagnosis. The rise in stomach cancer cases is driving the demand in the endoscopic ultrasound needles market including fine needle aspiration as the leading method to diagnosegastrointestinalcancer.
Growing usage of these needles in pulmonology & gastroenterology and continuous technological advancements are driving the demand for aspiration needles (EUS-FNA).
Ambulatory Surgical Centers Gaining Traction Owing to Safe Endoscopic Ultrasound Procedures & Expert Healthcare Teams
The market can be divided into three types of end users such as hospitals, ambulatory surgical centers, and specialty clinics. Ambulatory surgical centers are projected to expand at the quickest rate because of the rising number of these centers and the increasing number of endoscopic ultrasound procedures conducted inambulatory surgical centers.
Ambulatory surgery centers are gaining pace in the market due to the minimally invasive and non-surgical treatment that may be performed through the colon or upper GI tract.
Leading manufacturers of endoscopic ultrasound needles are investing in advanced technologies and research & development activities for new product launches. Geographical expansion by collaborating with regional players is also a key focus area of endoscopic ultrasound needle suppliers.
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| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2027 |
| Historical Data Available for | 2013 to 2021 |
| Market Analysis | Value in USD Million, Volume in Units |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; Middle East & Africa (MEA) |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Mexico, Argentina, Germany, Italy, France, UK, Nordic, Spain, Japan, China, India, Malaysia, Thailand, Australia, GCC Countries, South Africa, Turkey |
| Key Market Segments Covered | Product, Application, End User, Region |
| Key Companies Profiled | ACE Medical Devices Pvt. Ltd.; Boston Scientific Corporation; CONMED Corporation; Cook Group Incorporated; Medi-Globe Corporation; Medtronic Plc; Micro-Tech Endoscopy; Olympus Corporation; Medline Industries, Inc.; CIVCO Medical Solutions; Protek Medical Products Inc.; Spectra Medical Devices, Inc.; Limaca-medical |
| Pricing | Available upon Request |
The global endoscopic ultrasound needles market is expected to reach a valuation of USD 223.5 Million by 2027.
ACE Medical Devices Pvt. Ltd., Boston Scientific Corporation, CONMED Corporation, Cook Group Incorporated, and Medi-Globe Corporation are key manufacturers of endoscopic ultrasound needles.
The endoscopic ultrasound needles market is estimated to exhibit a CAGR of 4.4% during the forecast period (2022 to 2027).
Aspiration needles account for 53.7% share of the endoscopic ultrasound needles market.
Growing prevalence of cancer cases, rising geriatric population, and overwhelming increase in diseases requiring endoscopic ultrasound procedures are key trends driving market growth.
1. Preface 2. Assumptions and Research Methodology 3. Executive Summary 4. Market Overview 5. Global Market Analysis, by Product 5.1. Aspiration needles (EUS-FNA) 5.2. Biopsy needles (EUS-FNB) 6. Global Market Analysis and Forecast, by Application 6.1. Bronchial needles 6.2. Enteral needles 7. Global Market Analysis, by End-user 7.1. Hospitals 7.2. Ambulatory surgical centers 7.3. Specialty clinics 8. Global Market Analysis, by Region 8.1. North America 8.2. Europe 8.3. Asia Pacific 8.4. Japan 8.5. Latin America 8.6. Middle East & Africa 9. North America Market Analysis 10. Europe Market Analysis 11. Asia Pacific Market Analysis 12. Japan Market Analysis 13. Latin America Market Analysis 14. Middle East & Africa Market Analysis 15. Competition Landscape 15.1. Olympus Corporation 15.2. Medtronic Plc 15.3. Cook Group Incorporated 15.4. Boston Scientific Corporation 15.5. CONMED Corporation 15.6. Medi-Globe Corporation 15.7. ACE Medical Devices Pvt. Ltd.
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Endoscopic Ultrasound Needles Market
