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Biopsy Needle Market Analysis
- Report ID: GMI5411
- Published Date: Dec 2022
- Report Format: PDF
Biopsy Needle Market Analysis
Biopsy needle market share from needle-based biopsy guns was over USD 850 million in 2022 and is expected to witness substantial growth through 2023-2032. Technological advancements in biopsy equipment have supported the introduction of products such as needle-based biopsy guns. In comparison to surgical biopsy, needle biopsy has numerous benefits such as rapid operational speed, less expensive, and less intrusive, as well as the ability to save patients with benign lesions from surgery. These benefits are anticipated to drive segmental growth over the forecast period.
The biopsy needle market share from autoimmune disorder application is anticipated to exceed over USD 320 million by 2032. Some common autoimmune disorders include type 1 diabetes, rheumatoid arthritis (RA), psoriatic arthritis, multiple sclerosis, celiac disease, and others. Around 4% of the world's population is believed to be affected by more than 90 autoimmune diseases, according to estimates from the American National Institutes for Health (NIH). While the American Autoimmune Related Illnesses Association (AARDA) states that more than 50 million Americans have one or more autoimmune diseases. The prevalence of these diseases is increasing, with associated costs to the U.S. economy of about USD 86 billion yearly. As a result, the demand for biopsy procedures and related equipment should increase over the forecast period.
Based on end-use, biopsy needle market share from ambulatory surgery centers is estimated to witness over 7.8% CAGR during the forecast years 2023 to 2032. Ambulatory Surgery Centers (ASCs) are becoming well-liked among doctors and patients because they are affordable and provide a wide range of medical treatments. According to the Centers for Medicare & Medicaid Services, the number of ASCs increases by 1.7% annually on average. Furthermore, the number of procedures/ services has increased by an average rate of 2.7% annually in recent years.
Europe biopsy needle market is anticipated to reach over USD 490 million by 2032. In 2020, there were more than 2.7 million new cancer diagnoses and over 1.3 million cancer-related deaths in the region. Ireland, the Netherlands, Belgium, Denmark, and other European nations have the highest incidence of cancer. Germany dominates the market for biopsy devices in Europe. This is due to the abundance of highly trained medical professionals, the high level of development in healthcare infrastructure, and the presence of key market players. Europe is also home to a vast number of older people, which will increase the demand for biopsy needles in the coming years.
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Biopsy Needle Market Scope
