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Biopsy Needle Market Size
- Report ID: GMI5411
- Published Date: Dec 2022
- Report Format: PDF
Biopsy Needle Market Size
Biopsy Needle Market size was worth more than USD 1.1 billion in 2022 and is projected to witness a 6.6% CAGR from 2023-2032. The rising incidence of cancer and new technological advancements in biopsy needles will facilitate market growth. Changes in lifestyle habits and environmental factors are some of the key contributors to at least 50% of cancer cases. Other risk factors for cancer include exposure to toxic or polluted environments and harmful chemicals such as plastics, polychlorinated biphenyls among others.
The International Association of Research on Cancer estimates that the four most common types of cancer that account for approximately 40% of all cancer diagnoses include breast cancer (about 11.7%), lung cancer (approximately 11.4%), colorectal cancer (around 10%), and prostate cancer (nearly 7.3%) of all cancer diagnosis occurring globally.
Technological advancements have enabled the availability of advanced technologies for tissue scanning as well as the detection of small cancerous tumors. Companies specializing in biopsy needles are offering innovative technologies as there is minimum to no demand for traditional technologies. For instance, in June 2021, Saga Surgical, a Sweden company, launched its new needle for biopsy called the Forsvall Needle which can minimize the chance of contracting sepsis or infection following a biopsy. According to estimates, the utilization of this needle could save over USD 230 million annually, in case of detection of prostate cancer alone in emergency cases.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Biopsy Needle Market Size in 2022: | USD 1.11 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 6.6% |
| 2032 Value Projection: | USD 2.23 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 275 |
| Tables, Charts & Figures: | 326 |
| Segments covered: | Product, Application, End-use, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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A lack of skilled healthcare professionals may impact the deployment and use of biopsy needles. Strong technical proficiency is necessary for a biopsy process in terms of using the equipment and interpreting the data. Due to under-trained health workers, the majority of customers are concerned about proper diagnosis, which may be an obstacle to the growth of the biopsy needle market. For instance, as per estimates, in EU28, the lack of skilled healthcare workforce is projected to reach around 4.1 million in 2030.
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Biopsy Needle Market Scope
