Market Size of Global Endoscopic Ultrasound Needles Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 152.06 Million |
Market Size (2029) | USD 209.23 Million |
CAGR (2024 - 2029) | 6.59 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Endoscopic Ultrasound Needles Market Analysis
The Global Endoscopic Ultrasound Needles Market size is estimated at USD 152.06 million in 2024, and is expected to reach USD 209.23 million by 2029, growing at a CAGR of 6.59% during the forecast period (2024-2029).
The COVID-19 pandemic impacted the market significantly, and the market faced considerable losses during the early pandemic. Long lockdown restrictions and restrictions to control the spread of the virus hampered the market's growth. For instance, according to an article published by the Journal of Clinical Pathology in January 2021, there has been a significant impact on the provision of small biopsy procedures due to the COVID-19 pandemic in Northern Ireland. However, as the pandemic has subsided currently, normal biopsy procedures are being carried out as usual; hence the studied market is expected to have stable growth during the forecast period of the study.
Endoscopic ultrasound needles are used for both therapeutic and diagnostic purposes. The major growth driver in the endoscopic ultrasound needles market is the increasing geriatric population and the growing prevalence of gastrointestinal cancers. There has been a rising prevalence of chronic diseases, like pancreatic, liver, hepatobiliary, lung, and gastrointestinal cancers, with patients increasingly preferring minimally invasive surgical procedures. Growing technological advancements related to endoscopic ultrasound needles are likely to fuel the expansion of the endoscopic ultrasound needles market in the coming years.
According to an article published by PubMed in June 2021, when 800 patients were randomized for 18 months, 771 were analyzed to check the benefit of rapid on-site evaluation (ROSE) on the diagnostic accuracy of endoscopic ultrasound-guided fine-needle biopsy (EUS-FNB). Among the 385 with rapid on-site evaluation (ROSE) analysis, a 96.4% accuracy result was obtained. The remaining 386 without ROSE was 97.4%, with an absolute risk difference of 1.0%. The study concluded that endoscopic ultrasound-guided fine-needle biopsy (EUS-FNB) demonstrated high accuracy in solid pancreatic lesions (SPLs). Solid Pancreatic Lesions primarily include adenocarcinoma, neuroendocrine tumors, cystic pancreatic neoplasms with solid components, solid pseudopapillary tumor, pancreatoblastoma, pancreatic lymphoma, and pancreatic metastasis. Hence, ongoing research and studies leading to new research and developments in the cancer segment inspire key market players to take strategic steps that can propel the growth of the studied market.
The rising prevalence of cancer is a major factor driving the growth of the market. For instance, according to the data published by ICMR-National Centre for Disease Informatics and Research in 2021, Leukemia accounted for nearly half of all childhood cancers in both genders in the 0-14 years age group in India; it had a prevalence of 46.4% in boys and 44.3% in girls in 2021. The other common childhood cancer in boys was found to be lymphoma (16.4%), while in girls, it was a malignant bone tumor (8.9%).
Furthermore, increasing product launches by market players in the region are also expected to enhance market growth. For instance, in October 2021, Micro-Tech Endoscopy launched an enhanced version of the company's endoscopic ultrasound needles named Areus FNA Needle and Trident FNB Needle.
Thus, due to the aforementioned factors, such as the rising prevalence of cancer, growing research studies for cancer diagnosis and treatment, and increasing product launches by key market players, the studied market is expected to experience growth during the forecast period of the study. However, the lack of professionals with expertise in operating with endoscopic ultrasound needles is restraining the market's growth.
Endoscopic Ultrasound Needles Industry Segmentation
As per the scope of the report, endoscopic ultrasound, or EUS, is a minimally invasive surgical process that involves ultrasonic and visual imaging of the abdominal and thoracic regions. Generally, an endoscope provides imaging of the gut's inner walls, whereas a EUS needle offers various organs' ultrasound imaging past the gut wall. The endoscopic ultrasound needles market is segmented by Product (Aspiration Needles and Biopsy Needles), Application (Bronchial EUS Needles and Enteral EUS Needles), End User (Hospitals, Ambulatory Surgical Centers, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
By Product | |
Aspiration Needles | |
Biopsy Needles |
By Application | |
Bronchial EUS Needles | |
Enteral EUS Needles |
By End User | |
Hospitals | |
Ambulatory Surgical Centers | |
Other End Users |
Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
| ||||||||
|
Global Endoscopic Ultrasound Needles Market Size Summary
The endoscopic ultrasound needles market is poised for significant growth over the forecast period, driven by the increasing geriatric population and the rising prevalence of gastrointestinal cancers. These needles are essential for both therapeutic and diagnostic purposes, with a growing preference for minimally invasive surgical procedures. Technological advancements in this field are expected to further propel market expansion. The market experienced setbacks due to the COVID-19 pandemic, which disrupted biopsy procedures, but has since rebounded as normal operations resumed. The demand for endoscopic ultrasound needles is also bolstered by ongoing research and developments in cancer diagnosis and treatment, particularly in pancreatic cancer, which has seen a rise in incidence.
North America currently dominates the global endoscopic ultrasound needles market, attributed to the high incidence of cancer and the adoption of advanced diagnostic procedures in the region. The presence of major market players and the introduction of new products further enhance market growth. Despite the market's moderate consolidation, with key players holding significant market shares, the Asia-Pacific region is witnessing the emergence of smaller players due to increased awareness. The market's growth is supported by strategic product launches and innovations, such as automated, rotational cutting needles aimed at improving biopsy accuracy. However, the shortage of skilled professionals in operating these needles remains a challenge to market expansion.
Global Endoscopic Ultrasound Needles Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.2.1 Rising Geriatric Population
-
1.2.2 High Prevalence of Gastrointestinal Tract-related Cancers
-
1.2.3 Increasing Demand for Minimally Invasive Procedures
-
-
1.3 Market Restraints
-
1.3.1 Lack of Expertise in Handling Endoscopic Ultrasound Needles
-
-
1.4 Porter Five Forces
-
1.4.1 Threat of New Entrants
-
1.4.2 Bargaining Power of Buyers/Consumers
-
1.4.3 Bargaining Power of Suppliers
-
1.4.4 Threat of Substitute Products
-
1.4.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION (Market Size by Value - USD million)
-
2.1 By Product
-
2.1.1 Aspiration Needles
-
2.1.2 Biopsy Needles
-
-
2.2 By Application
-
2.2.1 Bronchial EUS Needles
-
2.2.2 Enteral EUS Needles
-
-
2.3 By End User
-
2.3.1 Hospitals
-
2.3.2 Ambulatory Surgical Centers
-
2.3.3 Other End Users
-
-
2.4 Geography
-
2.4.1 North America
-
2.4.1.1 United States
-
2.4.1.2 Canada
-
2.4.1.3 Mexico
-
-
2.4.2 Europe
-
2.4.2.1 United Kingdom
-
2.4.2.2 France
-
2.4.2.3 Germany
-
2.4.2.4 Italy
-
2.4.2.5 Spain
-
2.4.2.6 Rest of Europe
-
-
2.4.3 Asia-Pacific
-
2.4.3.1 India
-
2.4.3.2 China
-
2.4.3.3 Japan
-
2.4.3.4 Australia
-
2.4.3.5 South Korea
-
2.4.3.6 Rest of Asia-Pacific
-
-
2.4.4 Middle East and Africa
-
2.4.4.1 GCC
-
2.4.4.2 South Africa
-
2.4.4.3 Rest of Middle East and Africa
-
-
2.4.5 South America
-
2.4.5.1 Brazil
-
2.4.5.2 Argentina
-
2.4.5.3 Rest of South America
-
-
-
Global Endoscopic Ultrasound Needles Market Size FAQs
How big is the Global Endoscopic Ultrasound Needles Market?
The Global Endoscopic Ultrasound Needles Market size is expected to reach USD 152.06 million in 2024 and grow at a CAGR of 6.59% to reach USD 209.23 million by 2029.
What is the current Global Endoscopic Ultrasound Needles Market size?
In 2024, the Global Endoscopic Ultrasound Needles Market size is expected to reach USD 152.06 million.