The global Aspiration & Biopsy Needles market size was estimated at USD 883 million in 2021 and is expected to surpass around USD 2.1 Billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 8.8% during the forecast period 2022 to 2030. Factors such as the rising prevalence of cancer, initiatives undertaken by government and global health organizations, and the increasing preference for minimally invasive procedures are the major factors driving the growth of the aspiration and biopsy needle market.
COVID-19 Impact on the global aspiration and biopsy needles market
The COVID-19 pandemic has resulted in significant reductions in cancer screening, cancer management visits, and cancer biopsy procedures across the globe. As a result of lockdowns, cancer screening services were disrupted to some extent, which ultimately lowered the demand for biopsy needles. The repercussions of delayed cancer detection owing to COVID-19 were investigated in a study undertaken in the UK and published in Lancet Oncology in March 2021. The study covered data from over 100,000 people with breast, colorectal, esophageal, or lung cancer. It found that 1- and 5-year cancer survival rates will be severely reduced because of the outbreak of COVID-19, owing to the reduction in diagnostic biopsies and lack of availability of screening services. However, numerous physician reports from the US have observed a growing number of screening appointments during the last quarter of 2020, which is expected to rise continually.
COVID-19 led to a significant drop in imaging procedures since March 2020 (for all modalities). A late resurgence of imaging throughput was observed in the second half of 2020; however, the overall throughput remained at a level of roughly 80% of the baseline volume for the entire year. In April 2020, the US FDA issued a guidance to provide a policy to help expand the availability and capability of medical X-ray, ultrasound, MRI systems, and image analysis software used to perform needle biopsy while mitigating the circumstances that could lead to the exposure of patients, healthcare providers, and healthcare technology management (HTM) to COVID-19.
Report Scope of the Aspiration & Biopsy Needles Market
Aspiration and Biopsy needles Market Dynamics
Drivers- Rising prevalence of cancer
Globally, there has been a significant increase in the number of people suffering from cancer. This can be attributed to a number of factors, such as lifestyle changes, unhealthy diets, and increasing tobacco consumption. According to estimates from the International Agency for Research on Cancer (IARC), in 2018, there were 17.0 million new cancer cases and 9.5 million cancer deaths worldwide. By 2040, the global burden is expected to grow to 27.5 million new cancer cases and 16.3 million cancer deaths, primarily due to the growth and aging of the population.
The incidence of cancer is the highest in more-developed regions, but mortality is relatively higher in less-developed countries due to a lack of access to treatment facilities and a lack of awareness regarding the benefits of early detection. According to the American Cancer Society, about 9.6 million people die from cancer every year, and 70% of cancer deaths occur in low-to-middle income countries such as China and India; these proportions are expected to increase further by 2025. With the rising prevalence of cancer in major regions across the globe, the demand for effective cancer diagnosis is expected to increase in the coming years. This, in turn, is expected to support the growth of the aspiration and biopsy needles market during the forecast period.
Restraint: Risk of infection associated with the use of aspiration and biopsy needles
Biopsy needle procedures, such as core-needle and fine-needle procedures, assist radiologists and surgeons in examining abnormalities at a particular site. However, patients can contract infections during these procedures as they involve cuts and incisions for removing tissue samples. Also, in several cases, aspiration and biopsy needles are reused, which further increases the risk of infection during these procedures. Even though the reuse of some needles is not recommended by healthcare authorities as well as product manufacturers, this practice is still prevalent, especially in developing countries.
Opportunity: Emerging economies
Emerging markets (such as India, China, Brazil, and Mexico) are expected to offer significant growth opportunities for players operating in the aspiration and biopsy needles market. This can be attributed to improvements in the standard of living, presence of a huge target population base (as a result of the rising prevalence of cancer), improvements and expansions in healthcare infrastructure, growing healthcare expenditure, and the modernization of healthcare research facilities in these countries. Also, the rapid economic development and increasing healthcare expenditure in these emerging countries have improved access to quality healthcare, including quality cancer care.
Challenge: Underdeveloped healthcare infrastructure and dearth of well-trained radiologists and oncologists.
With the growing awareness about different types of cancers, the demand for biopsy procedures is expected to increase in the coming years. However, there is a dearth of skilled surgeons to perform minimally invasive biopsy procedures. For instance, a shortage of more than 2,300 medical oncologists is expected in the US by 2025 (Source: Journal of Global Oncology). The effect of this factor will be more pronounced in developing and underdeveloped regions. For instance, one of the major obstacles in the delivery of care for patients with curable cancers in the Sub-Saharan African region is the dearth of medical oncologists, radiation oncologists, and other healthcare workers required for cancer care. Similarly, India is facing an acute shortage of oncologists, radiotherapists, and surgical oncologists. With 1.8 million cancer patients in the country, there is only one oncologist to treat every 2,000 patients.
By product, the biopsy needles segment accounted for the largest share of the aspiration and biopsy needles market
On the basis of product, the 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 2020. This can be attributed to the rising prevalence of cancer and the increasing preference for minimally invasive diagnostic procedures (over excision biopsies).
By application, the tumor/cancer segment held the largest share of the market in 2020.
On the basis of application, the aspiration and biopsy needles market is segmented by tumor/cancer applications (breast, lung, colorectal, prostate, kidney, bone & bone marrow, and other cancers), wound applications, and other applications. In 2020, the breast cancer segment accounted for the largest share of the market. This segment is also estimated to grow at the highest CAGR during the forecast period. The large share of this segment is mainly attributed to the rising prevalence of breast cancer, growing awareness about the disease, and increasing research activity pertaining to breast screening and diagnosis.
Image-guided procedures accounted for the largest share of the aspiration and biopsy needles market, by procedure
On the basis of procedure, the aspiration and biopsy needles market is segmented into image-guided procedures (ultrasound-guided biopsy, stereotactic-guided biopsy, MRI-guided biopsy, and other image-guided procedures) and nonimage-guided procedures. Image-guided procedures accounted for the largest share of this market in 2020, primarily due to the rising preference for minimally invasive biopsy and aspiration procedures.
Asia Pacific accounted for the largest share of the aspiration and biopsy needles market in 2020
This report covers the aspiration and biopsy needles market across five major geographies-North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific commanded the largest share of the aspiration and biopsy needles market in 2021. Increasing initiatives by government for the cancer diagnostics and screening, rising research activity, and the high incidence of cancer in key APAC countries such as India and China are the major factors driving the growth of this regional market.
Some of the prominent players in the Aspiration & Biopsy Needles Market include: CONMED Corporation (US), Medtronic Plc (Ireland), Olympus Corporation (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), Ranfac Corporation (US), HAKKO CO., LTD (Japan), and Merit Medical Systems (US)
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Aspiration & Biopsy Needles market
Aspiration and biopsy needles market, by Product Type
- Biopsy Needles
- Aspiration Needles
Aspiration and biopsy needles market, by Application
- Tumor/ Cancer Applications
- Breast Cancer
- Lung Cancer
- Colorectal Cancer
- Prostate Cancer
- Kidney Cancer
- Bone & Bone Marrow Cancer
- Other Cancers
- Wound Applications
- Other Applications
Aspiration and biopsy needles market, by Procedure
- Image-guided Procedures
- Ultrasound-guided Procedures
- Stereotactic Procedures
- CT-guided Procedures
- MRI-guided Procedures
- Other Image-guided Procedures
- Nonimage-guided Procedures
Aspiration and biopsy needles market, by End User
- Hospitals & surgical centers
- Diagnostic Clinics & pathology laboratories
- Ambulatory care centers
- Research & Academic Institutes
By Geography
North America
Europe
- Germany
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
Key Points Covered in Aspiration & Biopsy Needles Market Study:
- Growth of Aspiration & Biopsy Needles in 2022
- Market Estimates and Forecasts (2017-2030)
- Brand Share and Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for Aspiration & Biopsy Needles and How to Navigate
- Key Product Innovations and Regulatory Climate
- Aspiration & Biopsy Needles Consumption Analysis
- Aspiration & Biopsy Needles Production Analysis
- Aspiration & Biopsy Needles and Management
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