Steerable Needle Market Size, Trend & Forecast by 2033

The new report published by The Business Research Company, titled ""Steerable Needles Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the steerable needles market size has grown strongly in recent years. It will grow from $1.47 billion in 2023 to $1.61 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The steerable needles market size is expected to see rapid growth in the next few years. It will grow to $2.35 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%.

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Increasing Minimally Invasive Procedures Drive Steerable Needles Market Growth
The increasing adoption of minimally invasive procedures is expected to propel the steerable needles market going forward. A minimally invasive procedure is a medical intervention performed through small incisions or natural body openings, minimizing tissue damage and recovery time. The increasing adoption of minimally invasive procedures is due to reduced recovery times, lower risk of complications, and less postoperative pain for patients. Steerable needles are used in minimally invasive procedures to precisely navigate and target specific tissues, enhancing accuracy and reducing damage to surrounding areas. For instance, in September 2023, according to the American Society of Plastic Surgeons, a US-based non-governmental organization, the number of minimally invasive procedures such as HA fillers increased to 48.83 million in 2022 from 28.78 million in 2020. Additionally, non-invasive fat reduction procedures rose from 38.65 million in 2020 to 68.29 million in 2022. Therefore, the increasing adoption of minimally invasive procedures is driving the growth of the steerable needles market.

Steerable Biopsy Needles Enhancing Precision And Accuracy In Medical Diagnostics
Major companies operating on steerable needles are developing innovative products, such as steerable biopsy needles, to enhance precision in tissue sampling, reduce patient discomfort, and improve the accuracy of diagnoses. Steerable biopsy needles are specialized medical needles designed to obtain tissue samples from specific, often difficult-to-reach areas within the body, allowing controlled, directional changes during insertion. For instance, in September 2022, Serpex Medical, a US-based medical device company, received Food and Drug Administration (FDA) 510K clearance for Compass Steerable Needles, a steerable biopsy needles that enable precise access to lung nodules in the intrapulmonary region. It provides precise three-dimensional positioning for enhanced reach to all 18 lung segments and access to small lesions outside the airways. It offers exceptional maneuverability, allowing for more accurate targeting and access to lesions. It allows for a controlled approach to target locations and the ability to sample multiple aspects of the tumor without unwanted tip deflection.

The steerable needles market covered in this report is segmented -

1) By Type: Bevel-Tip Flexible Needles, Symmetric-Tip Needles, Tendon Actuated Tip Needles
2) By Application: Biopsy, Tumor Ablation, Pain Management, Robotic Assisted Surgery, Other Applications
3) By End User: Hospitals, Ambulatory Surgical Centers, Others End Users

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Major companies operating in the steerable needles market are Johnson & Johnson, Medtronic Plc, Siemens Healthineers AG, Becton Dickinson and Company, Koninklijke Philips, Stryker Corporation, GE HealthCare Technologies, Boston Scientific Corporation, Olympus Corporation, Terumo Corporation, Intuitive Surgical Inc, Smith & Nephew plc, Hologic Inc, Varian Medical Systems Inc, Coloplast A/S, Cook Medical Incorporated, Bio-Rad Laboratories Inc, Teleflex Incorporated, KARL STORZ SE & Co KG, Elekta Instrument AB, Merit Medical Systems Inc, ConMed Corporation, Penumbra Inc, AngioDynamics Inc, AprioMed Inc

Contents of the report:
1. Executive Summary
2. Steerable Needles Market Report Structure
3. Steerable Needles Market Trends And Strategies
4. Steerable Needles Market - Macro Economic Scenario
5. Steerable Needles Market Size And Growth
…..
27. Steerable Needles Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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