The Future of Aspiration & Biopsy Needles Market — Market Research Analysis

On the basis of product, the market is segmented into aspiration and biopsy needles. The biopsy needles segment accounted for the largest share of the fine needle aspiration market in 2019. The large share of this segment can be attributed to the rising prevalence of cancer and increasing preference for minimally invasive diagnostic procedures.

On the basis of site, the aspiration and biopsy needles market is segmented into breast, lung, colorectal, prostate, kidney, and bone marrow. In 2019, the breast cancer segment accounted for the largest share of the market. The large share of this segment is mainly attributed to the rising prevalence of breast cancer, growing awareness about the disease, and increasing research activity pertaining to breast screening and diagnosis.

On the basis of procedure, the aspiration and biopsy needles market is segmented into image-guided procedures (ultrasound-guided biopsy, stereotactic-guided biopsy, MRI-guided biopsy, and other image-guided procedures) and nonimage-guided procedures. Image-guided procedures accounted for the largest share of this market in 2018, primarily due to the provision of accuracy provided by it in locating the mass of cells and liquid hence helping it in accuracy for diagnosis.

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This report covers the aspiration and biopsy needles market across four major geographies — North America, Europe, Asia Pacific, and the Rest of the World. North America commanded the largest share of the fine needle aspiration market in 2019. Factors such as the increasing prevalence of cancer in the US and Canada and cancer awareness initiatives undertaken by local governments and global health organizations in the North America region are the key factors driving the market growth.

The large share of the North American market can mainly be attributed to the increasing number of surgical procedures, technological advancements, rising demand for minimally invasive procedures, favorable reimbursement scenarios, and rising government concerns regarding the health hazards of surgical plumes.

Key Market Players

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 of the major players in the aspiration and biopsy needles market.

Recent Developments Product

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)
• In November 2015, Cook Group (US) Incorporated launched EchoTip ProCore 20 Gage Needle for ultrasound-guided fine needle biopsy (FNB)

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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