The global biopsy needle market size was valued at USD 662.4 million in 2020, which is expected to reach USD 1,124.61 million by 2027, registering a CAGR of 6.64% during the forecast period (2021-2027). Biopsy needles are medical instruments used to detect cancer and extract a sample of cells or tissues from different parts of the body such as kidneys, lungs, bone marrow, and others. The trend for various types of technologies and products, such as needle-based biopsy guns and biopsy guiding systems, is increasing in the global biopsy needle market.
Factors Affecting the Biopsy Needle Industry over the Forecast Period:
- Factors such as the high prevalence of cancer and growing healthcare expenditure in emerging nations are anticipated to drive the global growth of the biopsy needle market.
- The development of new diagnostic technologies and procedures such as core needle biopsy, needle-aspiration biopsy, vacuum-assisted biopsy, and image-guided biopsy has significantly impacted the sales of biopsy needle in the healthcare and pharmaceutical sector across the globe.
- However, the dearth of well-trained and skilled healthcare professionals and stringent regulations for medical devices may restrain the growth of biopsy needles in the global market over the forecast period.
Impact of COVID-19 on Biopsy Needle Market:
The COVID-19 pandemic is expected to have a modest impact on the growth of the biopsy needle market in 2020. The demand for biopsy needles has been stagnant across applications in extraction samples for infections, cancer, and others. Therefore, the demand for biopsy needles will foresee a slight decline in the global market in 2020.
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Scope of the Report
The report outlines the global biopsy needle market study based on type, application, and utility.
The biopsy needle market has been segmented based on type –
- Fine Needle-Aspiration Biopsy
- Core Needle Biopsy
- Vacuum-Assisted Biopsy
- Image-Guided Biopsy
The biopsy needle market has been segmented based on application –
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The biopsy needle market has been segmented based on utility –
Biopsy Needle Market: Regional Outlook
Based on the region, the global biopsy needle market has been segmented into five geographical regions, namely, North America, Asia Pacific, Europe, South America, and the Middle East and Africa. In 2020, North America held the largest share in the biopsy needle market, followed by the Asia Pacific and Europe due to growing healthcare expenditure and technology advancement in the region. Moreover, Asia Pacific is expected to project the highest CAGR globally over the forecast period, owing to rapidly developing medical infrastructure and increasing spending on healthcare in the region.
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Key Global Biopsy Needle Market Competitors Includes –
The biopsy needle market is fragmented, with the presence of a large number of small players across the globe. The key biopsy needle market manufacturers operating in the global market are –
- Argon Medical Devices
- Becton Dickinson and Company
- Boston Scientific Corportion
- Cardinal Health, Inc.
- CareFusion Corporation
- Cook Group Incorporated
- Creganna Medica
- Hologic, Inc.
- Medax Medical Devices
- Medtronic plc
- Moller Medical GmbH
- Stryker Corporation.
The biopsy needle market report provides a thorough analysis of macro-economic factors and every segment's market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players' presence in the respective segment and region/country. The information concluded in the report includes the inputs.
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