Needle Biopsy Market Size to Grow Exponentially during the Forecast Period

Needle Biopsy Market: Introduction

According to the report, the global needle biopsy market was valued at ~US$ 630 Mn in 2019. It is projected to expand at a moderate CAGR during the forecast period. In terms of volume, there were around 19,351,640 biopsy needles used in 2019, and the number is projected to reach 33,683,957 by the end of 2030. Needle biopsy is a clinical diagnostic procedure performed to acquire suspected sample of tissues from the body for the diagnosis and/or exclusion of different types of diseases. Tissue samples collected from biopsy devices are sent to diagnostic laboratories for analysis and diagnosis of different types of diseases. These tissue samples are analyzed to categorize or determine the staging of diseases and rule out the presence of specific diseases.

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Types of Needle Biopsy

Two basic types of needle biopsies are core needle biopsy and fine aspiration needle biopsy. Core needle biopsy is a hollow needle of size ranging from 11 to 18 gauge, and is used to acquire the tissue sample from breast, liver, prostate, and other organs. A local anesthesia is used to make the area numb prior to obtaining the tissue sample. Fine needle aspiration usually requires a small-sized hollow needle ranging from 22 to 27 gauge needle to obtain only a small portion of the lesion. Fine needle biopsy is most commonly used to acquire samples from thyroid.

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Needle Biopsy Market: Key Driver

The global needle biopsy market is driven by the rise in prevalence of human and animal cancer across the globe, increase in global geriatric population, and government initiatives to spread awareness about cancer. North America dominated the global needle biopsy market in 2019, followed by Europe, and the trend is anticipated to continue during the forecast period. The region’s dominance can be ascribed to high prevalence and rise in incidence rate of breast and prostate cancer, a well-established healthcare industry, and awareness about cancer in the region.

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Needle Biopsy Market: Prominent Regions

In terms of region, the global needle biopsy market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global needle biopsy market in 2019, followed by Europe. The U.S. dominated the needle biopsy market in North America in 2019, due to the presence of key players, technological advancements, adoption of needle biopsy, and adequate reimbursement policies. This, in turn, is estimated to boost the market in the region. The needle biopsy market in Asia Pacific is likely to expand at a notable CAGR from 2020 to 2030. The expansion of the market in the region can be attributed to the adoption of new technologies such as fine-needle aspiration biopsy and core needle biopsy, high awareness, significant healthcare spending, early availability of advanced technologies, and high penetration of research activities across the region.

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