Aspiration & Biopsy Needles Market by Product (Aspiration Needle, CNB, VAB), Application (Breast, Lung, Bone Cancer), Procedure (Image-guided (Ultrasound, MRI, Stereotactic), Non-image-guided), End user (Hospital, ASC, Academia) - Global Forecasts to 2027

Aspiration & Biopsy Needles Market by Product (Aspiration Needle, CNB, VAB), Application (Breast, Lung, Bone Cancer), Procedure (Image-guided (Ultrasound, MRI, Stereotactic), Non-image-guided), End user (Hospital, ASC, Academia) - Global Forecasts to 2027

The global aspiration and biopsy needles market is valued at an estimated USD 879 million in 2021 and is projected to reach USD 1,303 million by 2027, at a CAGR of 6.8%. The adoption of aspiration and biopsy needles is growing across major healthcare markets owing to the increasing incidence of cancer and the rising patient preference for minimally invasive diagnostic procedures.

“The Biopsy Needles segment is expected to witness the highest growth in the aspiration and biopsy needles market during the forecast period.”

On the basis of product, the aspiration and biopsy needles market is segmented into biopsy and aspiration needles. The biopsy needles segment is estimated to grow at the highest CAGR during the forecast period owing to its growing adoption among various healthcare facilities and due to the rising prevalence of cancer.

“The Hospitals segment is expected to witness the highest growth during the forecast period.”

On the basis of end user, the aspiration and biopsy needles market is segmented into hospitals & surgical centers, ambulatory care centers, diagnostic clinics & pathology laboratories, and research & academic institutes. The hospitals & surgical centers segment is estimated to grow at the highest rate during the forecast period due to the rising prevalence of cancer, increasing preference for minimally invasive procedures in hospital settings, and developing healthcare infrastructure in emerging countries.

“On the basis of application, the breast cancer segment is expected to hold the largest share of the market in 2021.”

On the basis of application, the aspiration and biopsy needles market is segmented by tumor/cancer applications (breast, lung, colorectal, prostate, kidney, bone & bone marrow, and other cancers), wound applications, and other applications. The breast cancer segment accounted for the largest share of the aspiration and biopsy needles market in 2020. The large share of this segment is mainly attributed to the rising prevalence of breast cancer as well as growing awareness about the disease and increasing research activity pertaining to breast screening and diagnosis

“Image-guided procedure segment is expected to witness the highest growth during the forecast period.”

On the basis of procedure, the aspiration and biopsy needles market is segmented into image-guided procedures and nonimage-guided procedures. The image-guided procedure segment is projected to grow at the highest CAGR during the forecast period due to the rising preference for minimally invasive biopsy and aspiration procedures.

“Asia Pacific is expected to grow at the highest CAGR in the market, by region, during the forecast period.”

Emerging economies such as India, China, and South Korea are offering high-growth opportunities for market players. The Asia Pacific market is expected to grow at the highest CAGR during the forecast period. Increasing initiatives by government for the cancer diagnostics and screening, rising research activity, and the high incidence of cancer in key APAC countries such as India and China are the major factors driving the growth of this regional market.

Breakdown of supply-side primary interviews:
By Company Type: Tier 1 - 48%, Tier 2 - 36%, and Tier 3 - 16%
By Designation: C-level - 10%, Director-level - 14%, and Others - 76%
By Region: North America - 40%, Europe - 32%, APAC - 20%, and RoW - 8%

The major players operating in the global aspiration and biopsy needles market are

CONMED Corporation (US), Stryker Corporation (US), Medtronic plc (Ireland), Olympus Corporation (Japan), Becton, Dickinson and Company (US), Boston Scientific Corporation (US), Cook Group Incorporated (US), Argon Medical Devices (US), INRAD Inc. (US), Somatex Medical Technologies GmbH (Germany), Cardinal Health (US), Remington Medical (US), Hakko Co., Ltd. (Japan), Merit Medical Systems (US), and Ranfac Corporation (US), among others.

Research Coverage

This report studies the aspiration and biopsy needles market by product, application, procedure, end user, and region. It also covers factors affecting market growth, analyzes various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders. Furthermore, the study analyzes micromarkets with respect to their individual growth trends and forecasts the size of market segments with respect to key regions—North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Reasons to Buy the Report

The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies for strengthening their market presence.

This report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios offered by the top players in the aspiration and biopsy needles market
Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the aspiration and biopsy needles market
Market Development: Comprehensive information on lucrative emerging regions
Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the aspiration and biopsy needles market
Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.