The market for aspiration and biopsy needles is primarily driven by the factors such as the rising prevalence of cancer, increasing preference for minimally invasive surgeries, and rise in cancer awareness initiatives undertaken by governments and global health organizations.
Market Size
The global Aspiration and Biopsy Needles Market is estimated to grow at a CAGR of 7.3% to reach USD 1,272 Million by 2024 from USD 894 Million in 2019.
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“Biopsy needles accounted for the largest share of the aspiration and biopsy needles market, by product, in 2018.”
On the basis of product, the aspiration and biopsy needles market is segmented into aspiration and biopsy needles. The biopsy needles segment accounted for the largest share of the aspiration and biopsy needles market in 2018 due to its widespread adoption in healthcare facilities. This segment is also expected to grow at the highest rate during the forecast period.
“The lung segment is expected to register the highest growth rate in the aspiration and biopsy needles market during the forecast period by site, in 2019”
On the basis of site, the aspiration and biopsy needles market is segmented into breast, lung, colorectal, prostate, kidney, and bone & bone marrow. The lung segment is expected to register the highest growth rate due to the increasing prevalence of lung cancer.
Recent Developments
Launches and Approvals
• In September 2018, Olympus (Japan) received FDA approval for its EZ Shot Plus 25 G needle
• In April 2016, Olympus (Japan) launched aspiration biopsy needles with Side Port - Reusable (NA-2C-1)
Acquisitions
• In January 2019, IZI Medical Products acquired Cook Medical’s soft tissue biopsy and breast localization needle product line.
• In February 2018, Merit Medical Systems, Inc. announced the closure of its purchase of divestment assets from BD (Becton, Dickinson and Company)
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