Steerable Needle Market Gains Momentum with Growing Adoption in Oncology Neurology and Interventional Radiology

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Steerable Needle Market- (By Product (Bevel-Tip Flexible, Symmetric-Tip, And Tendon-Actuated Needles), By Application, By End-User (Hospitals, Ambulatory Surgery Centers And Speciality Clinics)) Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Steerable Needle Market is valued at US$ 1.07 Bn in 2023 , and it is expected to reach US$ 1.74 Bn by 2031, with a CAGR of 6.37% during a forecast period of 2024-2031.

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Steerable medical devices are advanced instruments engineered to navigate and alter their trajectory within the body, allowing precise targeting of anatomical structures, such as tumors. These devices play a pivotal role in improving the accuracy and effectiveness of therapeutic interventions, particularly in oncology and other complex medical conditions. The increasing demand for minimally invasive surgical procedures-owing to their lower risk profile, reduced postoperative pain, and quicker recovery times compared to traditional open surgeries-is expected to drive significant growth in the global steerable medical device market.

Continuous advancements in steerable needle technology are being supported by extensive research and development efforts aimed at enhancing maneuverability, control precision, and integration with imaging modalities. Innovations in materials science and engineering, including the incorporation of shape memory alloys, robotic navigation systems, and advanced imaging techniques, are further elevating the performance and appeal of these devices, thereby attracting increased attention from healthcare providers.

Moreover, the rising global geriatric population is contributing to a higher incidence of age-related diseases such as cancer, arthritis, and Alzheimer's disease. This demographic shift is anticipated to heighten the demand for steerable devices that facilitate early diagnosis and targeted treatment. Additionally, emerging technologies such as 3D printing are enabling the production of next-generation steerable instruments-such as customized 3D-printed endoscopes-that offer superior performance compared to conventional alternatives. These technological innovations are expected to expand the market potential for steerable medical devices over the forecast period.

Recent Developments:
• In Sept 2022, Serpex Medical announced that the Compass Steerable Needle, which is part of its Steerable Endobronchial Instrument Platform, has been given its second FDA 510(k) clearance. The design of the device allowed for a controlled approach to the target sites and the ability to take samples from different parts of the tumour without the tip deflecting in an unintended way. This made it possible to deal with some of the difficult parts of a lung biopsy.
• In Dec. 2020, Olympus Corporation announced the completion of its acquisition of Veran Medical Technologies, Inc. (VMT), following the signing of a definitive agreement between the two entities. Olympus' subsidiary Olympus Corporation of the Americas (OCA), acquired VMT's global sales network, marketing, manufacturing, R&D, and other functions to expand its respiratory product portfolio.

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List of Prominent Players in the Steerable Needle Market:
• AprioMed
• Elekta Instrument AB,
• Medtronic
• Boston Scientific
• Cook Medical
• Olympus Corporation
• Terumo Corporation
• Merit Medical Systems
• Vygon
• Johnson & Johnson
• B. Braun Melsungen AG
• Stryker Corporation
• Smith & Nephew
• AngioDynamics Inc.
• Teleflex Incorporated
• Argon Medical Devices Inc.
• BD (Becton, Dickinson and Company)
• Cardinal Health Inc.
• Teleflex Medical OEM
• ConMed Corporation
• Mindray Medical International Limited
• Hologic Inc.

Market Dynamics
Drivers:
The market for steerable needles is experiencing strong growth, driven by a growing preference for minimally invasive procedures, advancements in imaging and robotic technologies, and the expanding applicability of steerable needles across various medical specialties. These devices are engineered to enhance control and precision during complex procedures, which contributes to improved clinical outcomes and increased treatment efficacy. The integration of robotic-assisted systems and image-guided technologies has significantly bolstered the demand for steerable needles by enabling real-time, highly accurate manipulation. As a result, the market is witnessing rising adoption among healthcare providers seeking to leverage these tools for superior patient care.

Challenges:
Despite their clinical potential, several factors are hindering the widespread adoption of steerable needles. A key limitation is the lack of extensive clinical trials and comparative studies demonstrating the cost-effectiveness and therapeutic benefits of these devices across different procedures, which is essential for achieving broader reimbursement and market acceptance. Additionally, the high costs associated with the development, production, and maintenance of these specialized devices may limit their utilization, especially in healthcare systems with constrained budgets. Accessibility is further challenged by limited distribution networks. Moreover, the applicability of steerable needles may be confined to specific anatomical areas or medical fields, and in certain cases, alternative tools or conventional techniques may be more appropriate.

Regional Trends:
North America holds a leading position in the steerable needle market, attributed to its advanced healthcare infrastructure, high adoption of minimally invasive techniques, and strong investment in medical technology innovation. The region benefits from a well-established network of hospitals, clinics, and research institutions, along with the presence of key industry players actively engaged in research and development. These factors collectively contribute to the expansion of the North American market.

Europe also represents a significant share of the global steerable needle market. The region is a hub for medical technology innovation, with continuous efforts focused on enhancing the performance and precision of steerable needle systems. Advancements in robotics, image guidance, and material science have further supported the widespread adoption of these devices across European healthcare systems.

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Segmentation of Steerable Needle Market-
By Product-
• Bevel-Tip flexible Needles
• Symmetric-Tip Needles
• Tendon-actuated Needles
By Application-
• Biopsy
• Tumor Ablation
• Pain Management
• Neurosurgery
• Cardiac Interventions
• Interventional Radiology
• Robotic-Assisted Procedures
By End Users
• Hospitals
• Ambulatory Surgery Centers
• Specialty Clinics
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.