Aspiration and Biopsy Needles Market | Ongoing Trends and Recent Developments | Major Key Players like CONMED Corporation (US), Medtronic Plc (Ireland), Olympus (Japan)

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. North America commanded the largest share of the aspiration and biopsy needles market in 2019.

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 2019. The large share of this segment can be attributed to the rising prevalence of cancer and increasing preference for minimally invasive diagnostic procedures.

On the basis of site, the aspiration and biopsy needles market is segmented into breast, lung, colorectal, prostate, kidney, and bone & bone marrow. In 2019, the breast cancer segment accounted for the largest share of the market. 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.

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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 2018, primarily due to the provision of accuracy provided by it in locating the mass of cells and liquid hence helping it in accuracy for diagnosis.

What Drives the Market?

The growth of the global market for Aspiration and Biopsy Needles is primarily influenced by the following factors:

• Rising Prevalence of Cancer
• Cancer Awareness Initiatives Undertaken By Governments and Global Health Organizations
• Increasing Preference for Minimally Invasive Biopsies

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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 and strategies adopted:

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) . These companies adopted strategies like new product launches, acquisitions, collaborations, expansions, and other developments in order to achieve sustained growth and expand their global presence as well.

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