According to Vision Research Reports, the global needle biopsy market size is projected to surpass around US$ 1.3 billion by 2027.
Needle biopsy is a clinical diagnostic procedure performed to acquire suspected sample of tissues from the body for the diagnosis and/or exclusion of different types of diseases. Tissue samples collected from biopsy devices are sent to diagnostic laboratories for analysis and diagnosis of different types of diseases. These tissue samples are analyzed to categorize or determine the staging of diseases and rule out the presence of specific diseases.
The global needle biopsy market is driven by the rise in prevalence of human and animal cancer across the globe, increase in global geriatric population, and government initiatives to spread awareness about cancer. North America dominated the global needle biopsy market in 2019, followed by Europe, and the trend is anticipated to continue during the forecast period. The region’s dominance can be ascribed to high prevalence and rise in incidence rate of breast and prostate cancer, a well-established healthcare industry, and awareness about cancer in the region.
Types of Needle Biopsy
Two basic types of needle biopsies are core needle biopsy and fine aspiration needle biopsy. Core needle biopsy is a hollow needle of size ranging from 11 to 18 gauge, and is used to acquire the tissue sample from breast, liver, prostate, and other organs. A local anesthesia is used to make the area numb prior to obtaining the tissue sample. Fine needle aspiration usually requires a small-sized hollow needle ranging from 22 to 27 gauge needle to obtain only a small portion of the lesion. Fine needle biopsy is most commonly used to acquire samples from thyroid.
Surge in Number of Cancer Cases Worldwide to Drive Market
The needle biopsy procedure is primarily deployed to diagnose prostate, skin, and breast cancer. Over the past couple of decades, the exponential rise in the number of cancer patients around the world is one of the primary factors due to which, the demand for needle biopsy has witnessed impressive growth. Moreover, the increasing demand for minimally invasive needle biopsy procedures is another major factor anticipated to augment the demand for needle biopsy during the forecast period. A notable surge in the number of breast cancer patients is expected to provide a massive boost to the adoption of needle biopsy procedures. This is another factor that is likely to provide considerable boost to the overall growth of the needle biopsy market during the forecast period.
Furthermore, the growing need to detect early signs of a preventable disease to improve survival rates of patients is another factor due to which, the demand for needle biopsy is on the rise.
Demand to Remain Steady During COVID-19 Pandemic
The COVID-19 pandemic has derailed the growth of several core industries as a result of stringent lockdowns and restrictions on transportation and trade. However, the medical sector is likely to largely remain unaffected due to the COVID-19 crisis, as manufacturing of medical devices, drugs, and medication are classified as ‘essential goods and services’. The demand for needle biopsy procedures has remained steady throughout 2020. Thus, the needle biopsy market is expected to exhibit a steady growth. Although the number of non-critical procedures has witnessed significant decline, the demand for minimally invasive needle biopsy procedures is expected to provide considerable boost to the overall prospects of the needle biopsy market in 2020.
In terms of region, the global needle biopsy market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global needle biopsy market in 2019, followed by Europe. The U.S. dominated the needle biopsy market in North America in 2019, due to the presence of key players, technological advancements, adoption of needle biopsy, and adequate reimbursement policies. This, in turn, is estimated to boost the market in the region. The needle biopsy market in Asia Pacific is likely to expand at a notable CAGR from 2020 to 2030. The expansion of the market in the region can be attributed to the adoption of new technologies such as fine-needle aspiration biopsy and core needle biopsy, high awareness, significant healthcare spending, early availability of advanced technologies, and high penetration of research activities across the region.
Global Needle Biopsy Market: Segmentation
Needle Biopsy Market, 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
Scope of the Report
VRR’s report on the global needle biopsy market studies the past as well as current growth trends and opportunities to gain valuable insights of these indicators for the market during the forecast period, 2020 to 2030 The report provides the overall Value (US$ Mn) and volume (units) of the global needle biopsy market for the period 2018–2030, considering 2020 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global needle biopsy market for the forecast period.
The report has been prepared after an extensive research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global needle biopsy market.
Secondary research also included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts also employed a combination of the top-down and bottom-up approaches to study various phenomena in the global needle biopsy market.
The report comprises an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study. Additionally, the report sheds light on changing competitive dynamics in the global needle biopsy market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the global needle biopsy market. The next section of the global needle biopsy market report highlights the USPs, which include breast cancer epidemiology, prostate cancer epidemiology, regulations related to premarket approval for new medical devices, regulations related to CE mark approval for new medical devices, overview of image guided needle biopsy, and impact of COVID-19 on the global needle biopsy market.
The report delves into the competition landscape of the global needle biopsy market. Key players operating in the global needle biopsy market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players profiled in the global needle biopsy market report.
Key Questions Answered in Needle Biopsy Market Report
Research Objectives and Research Approach
The comprehensive report on the global needle biopsy market begins with an overview of the market, followed by scope and objectives of the study. Following this, the report provides detailed explanation of the objectives of the study and healthcare compliances laid down by accredited agencies in the purview of research in the global needle biopsy market. It is followed by market introduction, market dynamics, and an overview of the global needle biopsy market, which include VRR analysis of market drivers, restraints, and trends affecting the growth of the market. Furthermore, Y-o-Y analysis with elaborate insights has been provided to understand the Y-o-Y trends of the needle biopsy market. The next section of the global needle biopsy market report highlights the USPs, which include epidemiology of breast cancer epidemiology, prostate cancer epidemiology, regulations related to premarket approval for new medical devices, regulations related to CE mark approval for new medical devices, overview of image guided needle biopsy, and impact of COVID-19 on the global needle biopsy market.
For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section further divided into smaller sections. The entire report comprises an exhaustive collection of graphs and tables that are appropriately interspersed in the entire compilation. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.
Revenue generated by key biopsy needle manufacturers has been mapped to ascertain the size of the global needle biopsy market in terms of value. The forecast presented here assesses the total revenue generated in the needle biopsy market. In order to provide an accurate forecast, we initiated by sizing up the current needle biopsy market with the help of the parent market. Prices of different biopsy needles and number of biopsy procedures across different regions have been taken into consideration to drive the volume of biopsy needles during the forecast period.
The report analyzes the global needle biopsy market in terms of type, application, end user, and region. Key segments under each criteria have been studied at length, and the market share for each of these at the end of 2030 has been provided. These valuable insights would help market stakeholders in making informed business decisions for investments in the global needle biopsy market.
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