Rising prevalence of cancer, increasing preference for minimally invasive procedures, and cancer awareness initiatives by governments and global health organizations are the major factors driving the growth of the aspiration and biopsy needles market.
Market Size
The global Aspiration and Biopsy Needles market size is projected to reach USD 1,272 million by 2024 from USD 894 million in 2019 at a CAGR of 7.3%.
CONMED Corporation (US), Medtronic Plc (Ireland), Olympus (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), HAKKO CO.,LTD (Japan), and Merit Medical Systems (US) are some key players in this market. These companies are focusing on increasing their presence in the high-growth markets through both organic as well as inorganic growth strategies such as product launches, acquisitions, and expansions.
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“Becton, Dickinson and Company (US) is a leading player in the aspiration and biopsy needles market”
The company offers a wide range of biopsy products, including breast biopsy, bone marrow biopsy, and soft tissue biopsy forceps and needles. With a strong presence in North America, Europe, and APAC, the company focuses on expanding its geographic presence in emerging countries with expanding healthcare systems in Eastern Europe, the Middle East, Africa, Latin America, and certain countries within APAC. For instance, in April 2017, the company acquired C. R. Bard, Inc. (US) for USD 24 billion. It also acquired CareFusion Corporation (US) in March 2015 and positioned itself as a major player in the aspiration and biopsy needle market. These acquisitions are expected to boost the company’s presence in the market.
“Cook Group Incorporated (US) is one of the leading players of the aspiration and biopsy needles market”
The company has a strong portfolio for a wide variety of biopsy products along with the aspiration and biopsy needles used for applications in reproductive health, gastroenterology, urology, bone biopsy, and interventional cardiology. With a strong geographic presence and sales network in 135 countries, Cook is anticipated to witness growth in this market, during the forecast period. For instance, in November 2015 it introduced the EchoTip ProCore 20 Gage Needle to its EchoTip ProCore product portfolio. Such strategic initiatives have helped the company to strengthen its presence in regional markets, strengthen its revenue base, and offer its customers advanced products.
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