Aspiration and Biopsy Needles Industry Growth and Forecast Report 2030

The aspiration and biopsy needles market will reach a value of USD 1,717.9 million by 2030, at a rate of 7.2% by the end of this decade.

The key factors driving the industry are the growing occurrence of cancer and consciousness around the ailment and treatment possibilities, patient preference for minimally invasive surgeries, increasing healthcare outlay, and tech enhancements in image guided biopsy systems.

Core needle will grow at a higher rate in the market in the years to come. This is due to the fact that through core-needle biopsies, invasive and breast tumors can be notable and benign lesions identified. In the past, image-guided was the larger bifurcation, based on procedure, as image-guided biopsies bring about minimal chances of analysis errors.

Hospitals were the largest users in the past, and this will be the scenario in the years to come as well. This is for the reason that as opposed to diagnostic centers and clinics, hospitals offer service to a significantly higher count of patients.

North America aspiration and biopsy needles market was the largest, as a result of the growing consciousness about early cancer diagnosis, high healthcare expenditure, and receiving of USFDA approval by an increasing count of devices. In the years to come, the fastest growth was in the APAC region, owing to the increasing pool of cancer patients and surging consciousness pertaining to the ways of diagnosing the disease.

The key development in the market is the regulatory and safety approval received by the products. For example, in 2018, EZ Shot 3 Plus 25 G EUS single-use needle, advanced by Olympus Corporation for fine-needle biopsy and aspiration, attained the FDA approval.

The needle can be put to use for the purpose of studying submucosal and extramural lesions, which are found in more than a few sections of the gastrointestinal tract.

In the recent past, market players have acquired other companies, for expanding their portfolio and beat all the competition, that is there.

For example, in December 2017, C.R. Bard Inc. was acquired for USD 16 billion by BD. BD is leveraging the wide-ranging innovation pipeline and product collection of C.R. Bard to grow in non-U.S. markets and fast-growing clinical areas. The key market players are Boston Scientific Corporation, Olympus Corporation, Stryker Corporation, Medtronic plc, Becton, Dickinson and Company, W CONMED Corporation, Argon Medical Devices Inc., Cook Medical LLC, Merit Medical Systems Inc., Sterylab s.r.l., and Cardinal Health Inc.

It is because of the increasing prevalence of cancers all over the world, the demand for aspiration and biopsy needles is on the rise, and this will be the scenario in the years to come as well.