Global Aspiration and Biopsy Needles Market Size, Share and Future Scope

Global Aspiration and Biopsy Needles Market Set to Generate Over $1,500.0 Million Revenue by 2030.
By: P&S Intelligence
 
 
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Aspiration Needles Market

Industry:
Health

Location:
New York City - New York - US

Subject:
Reports

NEW YORK - Sept. 17, 2020 - PRLog -- One of the most important factors leading to the rising demand for aspiration and biopsy needles is the increasing prevalence of cancer across the world. According to the World Health Organization (WHO), the number of people who died from cancer stood at 9.6 million in 2018. Furthermore, the number of people suffering from malignant tumors will increase from 12.7 million in 2008 to 21.4 million in 2030, which will considerably boost the demand for aspiration and biopsy needles, on account of the fact that biopsy and aspiration procedures are extensively used for studying the nature of tumors.

The other major factors contributing to the surge in the demand for aspiration and biopsy needles are the rising popularity of minimally invasive surgeries, soaring healthcare expenditure in several countries, and rapid technological innovations in the devices used for disease diagnosis. Due to these factors, the global aspiration and biopsy needles market size is predicted to increase from $801.5 million in 2019 to $1,717.9 million in 2030. The market is expected to progress at a CAGR of 7.2% during the forecast period (2020–2030).

There are two types of needles widely used in aspiration and biopsy procedures, namely core needles and fine needles. Of these, core needles are expected to register higher usage during the forecast period. This is mainly attributed to the fact that the biopsies conducted with the help of core needles are more successful in distinguishing between invasive and in situ breast tumors and in identifying benign lesions. These needles are also predicted to record the faster growth in usage than fine needles, in the coming years.

Therefore, owing to the rising incidence of cancer, increasing healthcare expenditure, and surging awareness amongst the people throughout the world about the various cancer diagnosis processes, the demand for aspiration and biopsy needles will observe significant growth in future.

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