Needle Biopsy Market – Scope of the Report
TMR’s report on the global needle biopsy market studies the past as well as current growth trends and opportunities to gain valuable insights of these indicators for the market during the forecast period, 2024 to 2030 The report provides the overall Value (US$ Mn) and volume (units) of the global needle biopsy market for the period 2018–2030, considering 2019 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global needle biopsy market for the forecast period.
The report has been prepared after an extensive research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global needle biopsy market.
Secondary research also included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts also employed a combination of the top-down and bottom-up approaches to study various phenomena in the global needle biopsy market.
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High Focus on Improving Visibility of Biopsy Needles to Aid Market Growth
In the past decade, improved awareness and knowledge of cancers coupled with longer life expectancy has played a key role in augmenting the demand for needle biopsies. Advancements in cancer diagnosis and major developments in the medical sector have primarily contributed to the increasing adoption of biopsy needles due to which, the needle biopsy market is projected to witness steady growth during the forecast period. Furthermore, increasing demand for biopsy needles with improved visibility in image guidance procedures, including ultrasound, is expected to propel the demand for biopsy needles.
The demand for biopsy needles is on the rise due to improved visibility and positional accuracy– a factor that is likely to propel the global biopsy needles market during the forecast period. A large number of players involved in the needle biopsy market are increasingly focusing on launching innovative biopsy needles with high visibility. In addition, market players are increasingly focusing on minimizing the deflection of needles in needle biopsy procedures. The increasing demand for interventional medical procedures around the world is anticipated to provide lucrative opportunities for players involved in the current needle biopsy market during the forecast period.
At the back of these factors, along with increasing demand for minimally invasive and accurate biopsies, the global needle biopsy market is projected to cross a market value of US$ 1.2 Bn by the end of 2030.
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Demand to Remain Steady During COVID-19 Pandemic
The COVID-19 pandemic has derailed the growth of several core industries as a result of stringent lockdowns and restrictions on transportation and trade. However, the medical sector is likely to largely remain unaffected due to the COVID-19 crisis, as manufacturing of medical devices, drugs, and medication are classified as ‘essential goods and services’. The demand for needle biopsy procedures has remained steady throughout 2024. Thus, the needle biopsy market is expected to exhibit a steady growth. Although the number of non-critical procedures has witnessed significant decline, the demand for minimally invasive needle biopsy procedures is expected to provide considerable boost to the overall prospects of the needle biopsy market in 2024.
Needle Biopsy Market: Competition Landscape
- This report profiles major players in the global needle biopsy market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
- The global needle biopsy market is highly consolidated, with few players holding majority of market share in global market
- Leading players operating in the global needle biopsy market include
- Becton
- Dickinson and Company
- Merit Medical Systems, Inc.
- Argon Medical and Olympus Corporation
- INRAD, Inc.
- Argon Medical
- CONMED Corporation
- Stryker Corporation
- Medtronic plc
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