Emphasis on Product Type (Biopsy Needles, Aspiration Needles); Procedure (Image-guided Procedures, Non-image-guided Procedures); Application (Tumor/Cancer Applications, Wound Applications, Others); End-Users (Hospitals & Surgical Centers, Diagnostic Clinics & Pathology Laboratories, Ambulatory Care Centers, Research & Academic Institutes); Region and Country
Global Aspiration & biopsy needles Market is anticipated to grow with an elevated CAGR of around 7% over the forecast period (2021-2027). A needle biopsy is a minimally invasive procedure for obtaining a sample of cells from a patient’s body for laboratory testing. Fine-needle aspiration and core needle biopsy are some of the common needle biopsy procedures.
The aspiration and biopsy needles market is growing on account of the surging incidences of cancer coupled with a rapidly growing geriatric population. According to the United Nations, the 60+ aged population was 962 million in 2017 which is more than twice that it was in 1980 at 382 million. The number of the elderly population is expected to double again by 2050 and reach nearly 2.1 billion worldwide. Further, it has been estimated by CDC that the number of cancer cases in the US will increase 49% each year, from 1,534,500 in 2015 to 2,286,300 in 2050, with the largest percentage increase among adults aged ≥75 years. This exponential increase in cancer prevalence globally has created a buzz among various pharmaceutical & biotechnology companies for investing in the development of effective cancer diagnostics and screening solutions. Thereby, boosting the growth of the aspiration & biopsy market.
Furthermore, growing advancements in technology, promulgating strategic alliances among industry players, and recent product launches or approvals are some of the major factors contributing to the growth of the aspiration & needles market. For example, in January 2019, IZI Medical Products acquired Cook Medical’s soft tissue biopsy and breast localization needle product line. Additionally, the increasing preference for minimally invasive procedures and initiatives undertaken by the government are some other factors driving the growth of the market globally.
New Cancer Cases Diagnosed, 2018 & 2020
Becton, Dickinson and Company, Olympus Corporation, Medtronic Plc, Boston Scientific Corporation, Stryker Corporation, Cardinal Health, CONMED Corporation, Merit Medical Systems, Argon Medical Devices Inc., INRAD Inc., are some of the prominent players operating in the aspiration & biopsy needles market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with aspiration & biopsy needles.
Insights Presented in the Report
“Amongst Product Type, biopsy needles segment holds the major share”
Based on product type, the aspiration & biopsy needles market is segmented into biopsy needles and aspiration needles. The biopsy needles segment accounted for the largest market share in 2020 it is estimated that it will exhibit the highest CAGR during the forecast owing to the surging incidences of cancer coupled with the growing demand for minimally invasive diagnostic procedures over excision biopsies. Furthermore, the use of needle biopsies is on the rise due to the increase in the geriatric population for diagnosing various diseases, particularly cancer.
“Amongst Procedure, image-guided procedures segment holds the major share”
Based on procedure, the aspiration & biopsy needles market is segmented into image-guided procedures and non-image-guided procedures. The image-guided procedures segment occupied a substantial share of the aspiration & biopsy needles market in 2020 and it is expected to grow considerably in the upcoming years. The growth of this segment is due to the rising preference of patients for minimally invasive biopsy and aspiration procedures.
“Amongst Application, tumor/cancer applications segment holds the major share”
Based on application, the market is fragmented into tumor/cancer applications, wound applications, and others. In 2020, the tumor/cancer applications segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period as there is the rising prevalence of various types of cancers including breast, colorectal, prostate, and others. Also, the growing awareness regarding various types of cancer and increasing research activity pertaining to cancer screening and diagnosis are some of the factors driving the segment growth.
“Amongst End-Users, hospitals & surgical centers segment holds the major share”
Based on end-users, the market is fragmented into hospitals & surgical centers, diagnostic clinics & pathology laboratories, ambulatory care centers, and research & academic institutes. In 2020, the hospitals & surgical centers segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. The growth of this segment is attributed to the increase in the number of patients opting for biopsy procedures in hospitals. Additionally, well-established healthcare infrastructure and the presence of well-trained oncologists in hospitals and surgical centers are also some other factors driving the growth of this segment.
“Asia-Pacific represents one of the largest markets of aspiration & biopsy needles market”
For a better understanding of the market dynamics of the aspiration & biopsy needles market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. Asia-Pacific constitutes a major market for the aspiration & biopsy needles market industry and generated revenue of USD XX Million in 2020 owing to growing healthcare expenditure and an increase in cancer incidences in the region.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Covid-19 Impact
6. Global Aspiration & Biopsy Needles Market Revenue
7. Market Insights By Product Type
8. Market Insights By Procedure
9. Market Insights By Application
10. Market Insights By End-users
11. Market Insights By Region
12. Aspiration & Biopsy Needles Market Dynamics
13. Aspiration & Biopsy Needles Market Opportunities
14. Aspiration & Biopsy Needles Market Trends & Insights
15. Legal & Regulatory Framework
16. Demand And Supply Side Analysis
17. Value Chain Analysis
18. Competitive Scenario
19. Company Profiled
20. Disclaimer
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global aspiration & biopsy needles market were the three major steps undertaken to create and analyze the adoption of aspiration & biopsy needles in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global aspiration & biopsy needles market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Seek More Details About Research Methodology
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the aspiration & biopsy needles through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the aspiration & biopsy needles market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as product type, procedure, application, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of aspiration & biopsy needles across the globe.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the aspiration & biopsy needles. Further, we conducted factor analysis using dependent and independent variables such as the growing number of cancer incidences globally. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the aspiration & biopsy needles sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the aspiration & biopsy needles market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the aspiration & biopsy needles market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product type, applications, procedure, and end-users of the aspiration & biopsy needles market.
The main objective of the Aspiration & biopsy needles Market Study
The current & future market trends of aspiration & biopsy needles were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
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