The market for aspiration and biopsy needles is primarily driven by the factors such as the rising prevalence of cancer, increasing preference for minimally invasive surgeries, and rise in cancer awareness initiatives undertaken by governments and global health organizations.
What the Market Looks Like?
Predicted to grow at a CAGR of 7.3% during the forecast period, the global Aspiration and Biopsy Needles market is estimated to reach USD 1,272 million by the end of 2024.
“Biopsy needles accounted for the largest share of the aspiration and biopsy needles market, by product, in 2018.”
On the basis of product, the aspiration and biopsy needles market is segmented into aspiration and biopsy needles. The biopsy needles segment accounted for the largest share of the aspiration and biopsy needles market in 2018 due to its widespread adoption in healthcare facilities. This segment is also expected to grow at the highest rate during the forecast period.
“The lung segment is expected to register the highest growth rate in the aspiration and biopsy needles market during the forecast period by site, 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. The lung segment is expected to register the highest growth rate due to the increasing prevalence of lung cancer.
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Geographical growth scenario of Aspiration and Biopsy Needles Market
The large share of the North American market can mainly be attributed to the increasing number of surgical procedures, technological advancements, rising demand for minimally invasive procedures, favorable reimbursement scenario, and rising government concerns regarding the health hazards of surgical plumes.
Leading market players
The prominent players in the Aspiration and Biopsy Needles market include 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)
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