The Needle Biopsy Market is chiefly driven by product development and the fall in prices of raw materials and components. The increasing cases of cancers and growing usage of biopsy needles is driving the market. Needle Biopsy is expected to reach $ 677 million by the end of 2023, this market is projected to be growing at a CAGR of ~ 5.2 % during 2017-2023.
The development of ultrasensitive imaging technologies such as Magnetic Resonance Imaging (MRI), Computed Tomography (CT) etc. are the market constraints. However, the emergence of liquid biopsy is the single largest threat to the future of needle biopsy.
In our estimates vacuum assisted needle biopsy will be the fastest growing segment. The increasing screening rates for cancers through the world will stimulate the market. Among the various cancers, breast cancer is expected to generate the largest use of needle biopsy. Needle Based Biopsy Guns is another lucrative strategy that is being pursued by many players. Core needle biopsy has a higher efficiency and detectability rate than fine needle aspiration biopsy. There is increasing bias to use core needle biopsy in combination with needle aspiration biopsy to achieve highest sensitivity and detectability. Thus, the two tests are complementary, and the effectiveness rate is highest with both tests are done together.
The growing stringent regulation and standards for medical devices, and the increasing uncertainty about reimbursement in the US are threatening the growth of the market.
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Global Needle Biopsy Market – Key Players
Key players profiled in the report are
- Boston Scientific Corporation
- Cook Medical
- CareFusion Corporation
- Hologic, Inc.
- Cardinal Health, Inc.
- Medax
- C. R. Bard, Inc.
- Möller Medical GmbH
- Becton, Dickinson and Company
- Hakko co. ltd.
- Kompass
- Argon Medical Devices, Inc.
Global Needle Biopsy Market – Segmentation
The global needle biopsy market is segmented on the basis of type and applications. Based on type, the market has been segmented as fine-needle aspiration biopsy, core needle biopsy, vacuum-assisted biopsy and image-guided biopsy. Based on the utility, the market has been segmented as disposable and reusable. Based on the applications, the market has been segmented as tumor, infection, inflammation and others.
Global Needle Biopsy Market – Regional analysis
US accounts for the maximum market share due to favorable reimbursement scenarios and greater expenditure on healthcare. The faster market uptake of new technology in the US is also an important driver of the market for global needle biopsy. Europe is the second largest market due to large disposable income and rising awareness.
Asia Pacific region is the fastest growing region because of large unmet needs which is led by China and India. The Middle East & Africa market is led by the gulf nations particularly Saudi Arabia and UAE. The poor regions of Africa are expected to be a laggard due to poor economic and political conditions and poor healthcare penetration.
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