Biopsy needle industry is predicted to witness 6.6% CAGR between 2023 and 2032 due to technological advancements in biopsy needles and favorable reimbursement scenario
Selbyville, Delaware, Jan. 25, 2023 (GLOBE NEWSWIRE) —
The biopsy needle market value is poised to surpass USD 2.2 billion by 2032, according to a new research report by Global Market Insights Inc.
Increased awareness regarding breast cancer, its diagnosis, and treatment should drive the deployment of biopsy needles. According to the American Cancer Society (ACS), breast cancer is the most common type of cancer among American women. Estimates suggest that woman living in the United States has a 1 in 8 chance of developing breast cancer, or a 12% lifetime risk.
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However, complications such as infection associated with the insertion of biopsy needle can be one of the major factors that may restrict the biopsy needle market growth. Infection/sepsis presenting in the form of symptoms such as pain at the site of biopsy, fever, swelling, excessive bleeding, drainage from biopsy site, etc. are factors impacting product use to some extent.
Wide-ranging benefits of biopsy needles
The biopsy needles segment is anticipated to expand at a 5.4% CAGR through 2023-2032. Core needle biopsy and fine-needle aspiration are two of the commonly used needle biopsy techniques. In comparison to surgical biopsy, needle biopsy has numerous benefits which include rapid operational speed, lower cost, and less intrusive. It also holds the ability to save patients with benign lesions from surgery. Therefore, such benefits are anticipated to drive the segment growth over the forecast period.
Browse key industry insights spread across 275 pages with 313 market data tables & 13 figures & charts from the report, “Biopsy Needle Market Size By Product (Needle Based Biopsy Guns {Vacuum-assisted Biopsy (VAB) Products, Fine Needle Aspiration Biopsy (FNAB) Products, Core Needle Biopsy (CNB) Products}, Biopsy Needles {Disposable, Reusable}), By Application (Cancer/Tumor {Breast, Lung, Prostate, Colon, Stomach, Liver, Rectum, Cervix uteri, Oesophagus, Pancreas, Leukaemia}, Infectious Diseases, Autoimmune Disorder), By End-use (Hospital, Ambulatory Surgical Center), Regional Outlook, Industry Analysis Report, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/biopsy-needle-market
Growing cases of infectious illnesses to accelerate the use of biopsy needles
Biopsy needle market share from the infectious diseases segment to record 7% CAGR during 2023 to 2032. The prevalence of biopsy operations using biopsy needles is rising at an exponential rate in tandem with the burden of infectious diseases. Infectious disease is one of the leading causes of death and morbidity worldwide. The need for novel and improved therapies has grown as a result of the COVID-19 pandemic. The aforementioned factors will foster market expansion over the predicted time frame.
Favourable reimbursement policies to accelerate product deployment across hospitals
Growing use of biopsy needles due to an increase in biopsy procedures combined with favourable reimbursement policies will support product deployment across hospitals. A needle biopsy is typically used to confirm the diagnosis before the treatment has been chosen. This makes it possible to treat the patient with greater consideration and to thoroughly check for potential metastatic disease before performing the actual procedure.
Technological advancements to fuel APAC biopsy needle industry growth
Asia Pacific biopsy needle market is predicted to hit over USD 650 million by 2032. Due to the greater growth potential, the region has become a growing market for industry participants. Furthermore, the presence of a large patient population with chronic illnesses and technical improvements in the biopsy instruments, the APAC biopsy needle industry will register promising growth by 2032.
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Strategic expansion efforts to boost biopsy needle industry expansion
Some of the leading companies in the global biopsy needle market include Becton, Medtronic plc, Boston Scientific Corporation, FUJIFILM Holdings Corporation, Dickinson & Company (BD), Becton, Cardinal Health, Hologic Inc, Olympus Corporation, Argon Medical Devices. Inc, Devicor Medical Products, Inc., B. Braun Melsungen AG, Cook Group Incorporated, Stryker Corporation, and INRAD Inc.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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