The endoscopic ultrasound needles are used for both therapeutic and diagnostic purposes. The major growth driver in the global endoscopic ultrasound needles market is the increasing geriatric population and the growing prevalance of gastrointestinal cancers. There has been a rising prevalence of diseases, like pancreatic, liver and hepatobiliary, lung, and gastrointestinal cancers with increasing preference of patients toward minimally invasive surgical procedures, and growing technological advancements made related to endoscopic ultrasound needles are likely to fuel the expansion of the endoscopic ultrasound needles market across the world in the upcoming years.
Additionally, the use of biopsy and aspiration needles for diagnosing pleural effusion and lung cancers is also rising, thus, propelling the market for endoscopic ultrasound needles. However, the lack of professionals with expertise in operating with endoscopic ultrasound needles is restraining the growth of the market.
Key Market Trends
Biopsy Needles is Expected to Dominate the Market
Biopsy needles (EUS-FNB) segment is likely to dominate the market in the upcoming years, due to increased product usage for endoscopic ultrasound of different non-pancreatic lesions, such as submucosal lesions, lymphoma, autoimmune pancreatitis, etc.
Non-Hodgkin lymphoma (NHL) is one of the most common cancers in the United States, accounting for about 4% of all cancers, as per 2019 estimates for non-Hodgkin’s lymphoma by American Cancer Society. Hence lymphoma being a common form of cancer increases the demand for biopsy needles. There are also technological advancements seen in EUS biopsy needles that are estimated to result in strong growth of the biopsy needles segment during the forecast period.
North America is Expected to Dominate the Endoscopic Ultrasound Needles Market
The North American endoscopic ultrasound needles market has dominated globally and this is due to the growing use of advanced diagnostic procedures in pulmonology, oncology, and gastroenterology in Canada and the U.S. and the presence of major market players in the region.
The number of new cases of non-Hodgkin lymphoma was 19.6 per 100,000 men and women per year in United States, as per National Institute of Health 2016 report. The number of deaths was 5.6 per 100,000 men and women per year. The presence of such high incidence rate creates a demand for procedures to diagnose and treat such diseases. This has thus helped the endoscopic ultrasound needles market grow. Moreover, there is a growing use of advanced diagnostic procedures in pulmonology, oncology, and gastroenterology in North American countries of Canada and the United States (US). These countries also enjoy the presence of most of the global players in endoscopic ultrasound needles market.
Majority of the Endoscopic Ultrasound Needles are being manufactured by the global key players. Market leaders with more funds for research and better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing an emergence of some small players due to the rise of awareness. This has also helped the market grow.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support