Endoscopic Ultrasound Needles Market To Power Strongly will Reach USD 423.0 Million by 2025 – Zion Market Research
Zion Market Research has published a new report titled “Endoscopic Ultrasound Needles Market by Product (Aspiration Needles (EUS-FNA), and Biopsy Needles (EUS-FNB)), by Application (Bronchial Needles, and Enteral Needles), and by End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2019 – 2025”. According to the report, global demand for endoscopic ultrasound needles market was valued at approximately USD 302.7 million in 2018, and is expected to generate revenue of around USD 423.0 million by end of 2025, growing at a CAGR of around 4.9% between 2019 and 2025.
Endoscopic ultrasound or EUS is a minimally invasive surgical procedure which includes visual and ultrasonic imaging of the abdominal and thoracic region. The endoscopic procedure provides with the image of gut’s inner lining, whereas the endoscopic ultrasound needle provides with the ultrasound images preceding the gut wall. Endoscopic ultrasound procedures are carried out both for diagnostic and therapeutic purposes. The endoscopic ultrasound needle is selected based on the specific organs and its application.
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Healthcare providers due to availability of advanced robotic devices are able to perform minimally invasive and safe surgeries. Endoscopic surgeries are gaining traction as this technology can reach internal organs with the help of small incision resulting in quick recovery and less pain as compared to the traditional surgery methods. These are some of the factors driving the demand for endoscopic ultrasound needles market globally. Besides, manufacturers or market players in the EUS needles market are aiming to provide fine needle biopsy technology which can provide information on large amount of tissue for ancillary testing and tissue architecture thus further propelling market growth.
The global market for endoscopic ultrasound needles is classified on the basis of product, application, end user, and region. Based on product the market is segmented into aspiration needles (EUS-FNA), and biopsy needles (EUS-FNB). The market segment for aspiration needles held major share 2018 due to its wide range of applications in pulmonology and gastroenterology. Moreover, they are also used in the diagnosis of tumors and inflammatory lesions in the gastrointestinal tract. Besides, rising stomach cancer cases is also propelling the market growth of this segment globally.
Based on application the market is segmented into bronchial needles, and enteral needles. The enteral needles segment is likely to grow at high CAGR in the forecast period. Endoscopic surgeries are gaining traction due to technology advancement to reach internal organs with help of small incision resulting in quick recovery and less pain as compared to traditional methods of surgery. Based on end user the market is segmented into ambulatory surgical centers, specialty clinics, hospitals, and others. The hospitals segment held major share of the market owing to increasing digestive and lung diseases in which EUS has found wide application in minimally invasive procedures. Besides, EUS needles have emerged as an alternative to the exploratory surgery procedures in the market.
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Regional segmentation includes the current and forecast demand for Asia Pacific, North America, Latin America, Europe, and Middle East & Africa with its further bifurcation into major countries. Asia Pacific is likely to grow at high CAGR in the forecast period due to rising cases of chronic diseases and cancer. Besides, increasing healthcare expenditure and growing awareness about healthcare are other factors propelling market growth for endoscopic ultrasound needles in this region.
Some of the players included in EUS needles market are Olympus Corporation, Medi-globe, Medtronic, ACE Medical Devices Pvt. Ltd., Boston Scientific Corporation, Cook Medical, and CONMED Corporation.
- CDN Newswire