Expanding Diagnostic Value of Biopsies in Cancer Propels Technological Advances in Needle Biopsy Market, Valuation to Expand at CAGR of 7% during 2020-2030: TMR
- Advances in imaging modalities have led to increased visibility of biopsy needles, thereby improving the accuracy of diagnosis and marked prevalence of cancer makes North America and Europe notably lucrative markets
- Needle biopsy market to clock CAGR of 7% during 2020-2030, Technological advances help surgeons access array of anatomical structures
ALBANY, N.Y., Nov. 2, 2020 /PRNewswire/ -- Rise in demand for needle biopsy in minimally invasive interventional medical procedures has gained traction in healthcare industry for diagnosing prostate, skin, and breast cancer. All these cancer have a high incidence in men.
In particular, the use of various technologies in needle biopsies has aided in the diagnosis and treatment of breast cancer patients. Recent innovations relate to improving the visibility and accuracy, such as minimizing the needle deflection.
The global needle biopsy market was pegged at ~US$ 630 Mn in 2019 and reach worth of US$ 1.2 Bn by the end of 2030.
Growing global health and economic burden of cancer has propelled technological advances in the needle biopsy market.
Key Findings of Needle Biopsy Market Report
The needle biopsy market is increasingly consolidated
In terms of volume, the market is projected to reach 33,683,957 by 2030-end
Geographically North America held the major share in 2019
The U.S. held the major share in the aforementioned regional market in that year
The above regional market is trailed by Europe
Asia Pacific will portray growth at an impressive rate during 2020 - 2030
Explore 193 pages of top-notch research, incisive insights, and detailed country-level projections on Needle Biopsy Market (Type: Fine-needle Aspiration Biopsy and Core Needle Biopsy; Application: Breast Cancer, Thyroid Cancer, Prostate Cancer, Liver Cancer, and Others; and End User: Hospital, Diagnostics & Imaging Centers, Research Laboratories & Academic Institutes, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030 at https://www.transparencymarketresearch.com/report-toc/79263
Needle Biopsy Market: Key Driving Factors and Promising Avenues
Interventional medical procedures that need needle biopsies have grown in healthcare applications. Several demographic and healthcare trends propel growth, some of which are detailed below:
Rise in geriatric population has fueled the use of needle biopsies to diagnose various diseases particularly cancer. Per a recent projection by the WHO, their population will touch 2 billion by 2050.
Marked health and economic burden of cancer is a key trend that has spurred leaps in technologies in both fine-needle aspiration biopsy and core needle used in biopsies.
Cancer has been projected by the WHO and numerous regional healthcare organizations as one of the leading causes of death.
Per a recent statistics by the National Cancer Institute, the cancer mortality rate is 158.3 per 100,000 men and women per year and its incidence is 442.4 per 100,000 men and women per year. The rise in use of needle biopsies in identifying preoperative lesions is crucial step in reducing the burden, thereby boosting the expansion of the needle biopsies market.
Rise in national expenditure in developed economies notably the U.S. for managing the burden of cancer has spurred manufacturers to aim at offering needle biopsies with high accuracy.
Growing clinical potential of image-guided aspiration is also generation new avenues for stakeholders in the market.
The high cancer mortality in the U.S. has spurred the demand for new technologies in fine-needle aspiration used in biopsies. This is one of the factors propelling North America on a high growth trajectory. In 2019, the regional market held the major share in the global needle biopsy market. The presence of favorable reimbursement policies has spurred the demand.
Europe has also been a promising market, fueled increasingly by the adoption of advanced healthcare equipment used in cancer management.
Asia Pacific market is expected to expand at a promising pace during the forecast period of 2020 – 2030.
Key Impediments to Needle Biopsy Market Stakeholders
The demand in the needle biopsy market has been impeded heavily by the growing traction of lesser invasive methods. A notable case in point is the rising clinical avenue for liquid biopsies. Recent clinical trials have shifted toward testing alternative, minimally invasive technologies.
Nevertheless, manufacturers in the needle biopsy market are leaning on making substantial improvements in physical and functional parameters, which will expand the avenue in coming years.
The Needle Biopsy Market has been segmented as follows:
Needle BiopsyMarket, by Type
Fine-needle Aspiration Biopsy
Core Needle Biopsy
Needle Biopsy Market, by Application
Needle Biopsy Market, by End User
Diagnostics & Imaging Centers
Research Laboratories & Academic Institutes
Needle Biopsy Market, by Region
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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