Market Trends of Global Endoscopic Ultrasound Needles Industry
This section covers the major market trends shaping the Endoscopic Ultrasound Needles Market according to our research experts:
Biopsy Needles Expected to Hold a Significant Share in the Market Over the Forecast Period
The biopsy needles (EUS-FNB) segment is likely to dominate the market in the upcoming years due to increased product usage for the endoscopic ultrasound of different non-pancreatic lesions, such as submucosal lesions, lymphoma, autoimmune pancreatitis, etc.
Among all the cancer studies and research, pancreatic cancer research has been adaptive due to the increasing incidence of pancreatic cancer cases. As per the American Cancer Society's data review in January 2022, nearly 25% of pancreatic cancers are estimated to be caused by cigarette smoking, 20% due to overweight, and inherited genetic syndromes contributing to 10% of the total pancreatic cancer cases, where people with diabetes are more prone to have pancreatic cancer. Another data from the American Society of Clinical Oncology (ASCO) in 2021 estimated that 60,430 adults (31,950 men and 28,480 women) in the United States were diagnosed with pancreatic cancer. The growing number of cases of pancreatic cancers has been increasing the demand for biopsy needles.
As per the article published by PubMed in November 2021, the recent developments in Endoscopic Ultrasound (EUS)-Guided fine-needle biopsy (FNB) allow to associate with improved diagnostic accuracy based on preserving the tissue architecture, which is necessary to detect the typical histological features of Autoimmune Pancreatitis, which, if kept untreated, can become chronic and cause pancreatic cancer.
Furthermore, product launches by key market players are also enhancing segment growth. For instance, NeoDynamics AB announced that the Company had been granted a United States patent for its biopsy needle design employed in the NeoNavia FlexiPulse probe. The front-loaded, open-tip sampling needle has been designed to enable maximum tissue yield with minimal patient trauma.
Hence, due to factors such as increased product usage for the endoscopic ultrasound of different non-pancreatic lesions, such as submucosal lesions, lymphoma, autoimmune pancreatitis, and product launches by key market players, the segment is expected to experience growth during the forecast period of the study.
North America Expected to Hold a Significant Share in the Endoscopic Ultrasound Needles Market
The North American endoscopic ultrasound needles market has dominated globally. This is due to the growing use of advanced diagnostic procedures in pulmonology, oncology, and gastroenterology in Canada and the United States and the presence of major market players in the region.
According to the data published by the American Cancer Society in 2022, it is estimated that there will be around 343,040 new cases of digestive system cancer in the United States in 2022; it is also estimated that there will be 395,600 new cases of genital system cancer. The presence of such a 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.
Furthermore, according to the data from the Canadian Cancer Society in November 2022, it is estimated that 233,900 people will be diagnosed with cancer in 2022, and this growth in incidence is largely due to Canada's growing and aging population and emphasizes the importance of cancer prevention.
The presence of most of the global players in the endoscopic ultrasound needles market is also contributing to the growth of the studied market in this region with access to a number of products. For instance, in May 2021, Cook Ireland Ltd received marketing authorization from the United States FDA for its EchoTip Ultra Endoscopic Ultrasound Needle, EchoTip ProCore HD Ultrasound Biopsy Needle, according to data provided by the Department of Health and Human Sciences (US FDA).
These factors mentioned above, such as the rising prevalence of cancer, and increasing product launches, are expected to influence the growth of the endoscopic ultrasound needles market in North America.
