The major reasons the aspiration and biopsy needles market is blossoming are the rising incidence of cancer, growing demand for minimally invasive diagnostic procedures, increasing healthcare spending, and surging awareness about cancer and its prevention and treatment. Hence, the industry is predicted to expand at a 7.2% CAGR between 2020 and 2030 (forecast period), to reach $1,717.9 million by 2030 from $801.5 million in 2019. In a biopsy, a piece of a solid tissue is taken out of the body for examination, while aspiration involves the sampling of bodily fluids.
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Fine-needle and core-needle are the bifurcations of the aspiration and biopsy needles market on the basis of type, of which the core-needle bifurcation dominated the industry during 2014–2019 (forecast period). Benign lesions can be easily diagnosed via core-needle biopsies, which can also be used to differentiate between invasive malignant and in situ tumors in the breast. Due to the increasing cases of breast cancer, the volume of core-needle biopsies is rising, which would be instrumental in propelling this bifurcation at the higher CAGR during the forecast period.
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During the last few years, the aspiration and biopsy needles market was dominated by North America, on account of the high healthcare spending and the increased public awareness about the benefits of early cancer detection in the region. Furthermore, the U.S. Food and Drug Administration (USFDA) is rapidly approving many new devices and systems. This is encouraging several market players to launch extensive research and development (R&D) projects in this domain.
This study covers
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
- Major players operating in the market and their service offerings