Endoscopic Ultrasound Needles Market Growth, Future Prospects, and Competitive Analysis, 2018-2026 the endoscopic ultrasound needles market was valued at US$ 289.3 Mn in 2017 and projected to reach US$ 440.4 Mn by 2026 at a CAGR of 4.8% over the forecast period from 2018 to 2026.
The global endoscopic ultrasound needles market exhibits lucrative growth during the forecast period from 2018 to 2026 attributed to worldwide growing elderly population along with increasing prevalence of diseases such as gastrointestinal, lung, liver & hepatobiliary, and pancreatic; technological developments in endoscopic ultrasound needles; and rising patient preference for minimally invasive surgeries (MISs).
Technological advancements in EUS needles are likely to propel the demand for EUS aspiration & biopsy needles during the forecast period. Boston Scientific Corporation provides Acquire & Expect EUS needles that improve diagnostic yield and specimen adequacy to support medical research. The company provides cobalt-chromium construction-based devices with a slimline handle that offers benefits over stainless steel alloys, including superior needle hardness & tensile properties.
Moreover, few manufacturers offer Nitinol construction-based devices that are highly flexible and facilitate easy passage, even in tortuous positions. Needles are passed through a single delivery system, without removing the delivery system with greater needle flexibility and durability.
EUS-guided fine needle aspiration and EUS-guided fine needle biopsy are the precise techniques to obtain adequate materials for cytological or histological diagnosis of various lesions. Recently developed miniaturized biopsy forceps with an outer diameter of 0.8mm has facilitated EUS-guided through-the-needle forceps biopsy (EUS-TTNFB) was found to be a safe and technically feasible procedure for the cytological diagnosis of cystic pancreatic lesions.
Endoscopic ultrasound is a minimally invasive procedure to assess diseases such as gastrointestinal, lung, liver & hepatobiliary, and pancreatic among others. EUS with fine-needle aspiration and fine-needle biopsy is a minimally invasive alternative to the exploratory surgery.
Shifting preference of patients towards MISs or minimally access surgeries (MASs) as it offers various advantages such as minor incisions, lesser muscle & tissue damage, quick wound healing, and lesser pain & surgical scars as compared to invasive surgeries.
Overall, this leads to minor complications and reduced surgery costs & risk of hospital-acquired infections (HAIs) in patients is expected to nurture the market growth over the forecast period.
Key Market Movements
Globally, the endoscopic ultrasound needles market remains to exhibit a profitable growth with a CAGR of 4.8% for the period from 2018 to 2026
Based on product, the biopsy needles (EUS-FNB) segment expected to witness fastest market growth over the forecast period. This attributed to gradually increasing use of EUS-guided fine needle biopsy during EUS procedures of non-pancreatic lesions including autoimmune pancreatitis, lymphoma, submucosal lesions, and some forms of pancreatic ductal adenocarcinoma (PDAC).
The lung diseases segment is likely to display promising market growth from 2018 to 2026 as the use of aspiration & biopsy needles in the diagnosis of lung cancer and pleural effusion is on rise
North America held maximum market share of the endoscopic ultrasound needles in 2017 due to the presence of key market players and rising applications of advanced diagnostic techniques in gastroenterology, pulmonology, and oncology in the U.S. and Canada
Asia Pacific to register profitable CAGR during the forecast period owing to growing awareness among people about EUS, surging geriatric population & a number of healthcare settings, and increasing spending on healthcare in India, China, and Japan
Major players in this vertical are Medtronic plc; Olympus Corporation; Boston Scientific Corporation; Cook Medical; CONMED Corporation; Medi-Globe GmbH; and ACE Medical Devices Pvt. Ltd.
Key Topics Covered
Chapter 1 Preface 1.1 Report Description 1.2 Market Segmentation 1.3 Research Scope 1.4 Research Methodology
Chapter 2 Executive Summary 2.1 Global Endoscopic Ultrasound Needles Market Portraiture 2.2 Global Endoscopic Ultrasound Needles Market, by Product, 2017 (US$ Mn) 2.3 Global Endoscopic Ultrasound Needles Market, by Disease Type, 2017 (US$ Mn) 2.4 Global Endoscopic Ultrasound Needles Market, by End-user, 2017 (US$ Mn) 2.5 Global Endoscopic Ultrasound Needles Market, by Geography, 2017 (US$ Mn)
Chapter 3 Global Endoscopic Ultrasound Needles Market: Dynamics & Future Outlook 3.1 Market Overview 3.2 Market Dynamics 3.3 Attractive Investment Proposition, by Geography, 2017 3.4 Competitive Landscape, by Key Players, 2017