Aspiration & Biopsy Needles Market Report Latest Trends and Future Opportunities Analysis

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Aspiration & Biopsy Needles Market- (By Product (Biopsy Needle (Core Biopsy Needles, Vacuum-Assisted Biopsy Needles), Aspiration Needle), By Application (Tumor/Cancer Application (Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Kidney Cancer, Bone & Bone Marrow Cancer, Other Cancers), Wound Applications, Other Applications), By Procedure (Image-Guided (Ultrasound-Guided Procedures, Stereotactic Procedures, CT-Guided Procedures, MRI -Guided Procedures, Other Image-Guided Procedures), Non-image-guided), By End-User (Hospitals & Surgical Centers, Ambulatory Care Centers, Diagnostic Clinics & Pathology Laboratories, Research & Academic Institutes)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Aspiration & Biopsy Needles Market Size is valued at USD 990.65 Mn in 2023 and is predicted to reach USD 1775.98 Mn by the year 2031 at a 7.62% CAGR during the forecast period for 2024-2031.

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The growth of the aspiration and biopsy needles market is primarily driven by several key factors, including the rising global incidence of cancer, increased patient preference for minimally invasive diagnostic procedures, and heightened awareness initiatives led by governments and international health organizations.

According to the National Cancer Institute (NCI)-the leading federal agency for cancer research in the United States-the most prevalent forms of cancer include breast, lung, prostate, colorectal, kidney, leukemia, thyroid, pancreatic, liver, and bladder cancers. In 2020, it was estimated that breast, colorectal, and lung cancers would comprise approximately 50% of all new cancer diagnoses among women, while prostate, colorectal, and lung cancers would represent about 43% of all new cases among men. Notably, cancer incidence rates tend to be significantly higher in densely populated countries with higher living standards and longer life expectancies.

List of Prominent Players in the Aspiration & Biopsy Needles Market:
• 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)
• Rantac Corporation (US)
• HAKKO CO., LTD (Japan)
• Merit Medical Systems (US)

Market Dynamics:
Drivers-
The global increase in cancer incidence is a major driver of the aspiration and biopsy needles market. This surge is attributed to several factors, including lifestyle changes, unhealthy dietary habits, and rising tobacco consumption. According to data from the International Agency for Research on Cancer (IARC), there were approximately 17.0 million new cancer cases and 9.5 million cancer-related deaths globally in 2018.

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Challenges:
Despite the diagnostic value of core and fine-needle biopsy techniques, these procedures present certain risks. Because tissue extraction involves incisions, there is a potential for infection. The risk is further exacerbated by the reuse of biopsy needles-an issue particularly prevalent in developing regions-despite recommendations by healthcare professionals and manufacturers against such practices.

Regional Trends:
The Asia Pacific region is anticipated to register the highest compound annual growth rate (CAGR) in the aspiration and biopsy needles market. This growth is driven by significant investments in healthcare infrastructure, as well as government-led initiatives to improve cancer awareness and early diagnosis.

Additionally, increasing involvement from government bodies and insurance organizations in cancer screening programs and rising research activities are fostering market expansion. Rapid urbanization and population growth in emerging economies such as China, India, and South Korea are also contributing to the escalating prevalence of cancer, positioning these countries as promising high-growth markets.

Recent Developments:
• In July 2023, Endoscopy clinical division of Cook Medical announces the launch of the EchoTip ProCore® 20 gauge needle with ReCoil StyletTM, the newest addition to the EchoTip ProCore® product portfolio. The flexible design of this needle enables physicians to acquire histological samples from challenging anatomical locations1.
• In Jan 2021, SOMATEX Medical Technologies GmbH was acquired by Hologic, Inc. for about $64 Mn, according to the company's announcement. SOMATEX provided Hologic with additional knowledge and skills to continue expanding its breast health portfolio by specialising in the development and production of minimally invasive devices in the fields of cancer diagnosis, biopsy, and interventional specialty.

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Segmentation of Aspiration & Biopsy Needles Market-
By Product-
• Biopsy Needle
o Core Biopsy Needles
o Vacuum-Assisted Biopsy Needles
• Aspiration Needle
By Application-
• Tumor/Cancer Application
o Breast Cancer
o Lung Cancer
o Colorectal Cancer
o Prostate Cancer
o Kidney Cancer
o Bone & Bone Marrow Cancer
o Other Cancers
• Wound Applications
• Other Applications
By Procedure-
• Image-Guided
o Ultrasound-Guided Procedures
o Stereotactic Procedures
o CT-Guided Procedures
o MRI -Guided Procedures
o Other Image-Guided Procedures
• Non-image-guided
By End-User-
• Hospitals & Surgical Centers
• Ambulatory Care Centers
• Diagnostic Clinics & Pathology Laboratories
• Research & Academic Institutes
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 the Middle East and Africa

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