Endoscopic Ultrasound Needles Market Analysis by Product {Aspiration Needles (EUS-FNA), Biopsy Needles (EUS-FNB)}; By Application (Bronchial EUS Needles, Enteral EUS Needles); and by End-User (Hospitals, Ambulatory Surgical Centers, Speciality Clinics) - Global Supply & Demand Analysis & Opportunity Outlook 2023 – 2035
Buy Now Report ID: 4312 | Published Date: Mar 24, 2023
The global endoscopic ultrasound needles market is estimated to garner a revenue of~ USD 22 Million by the end of 2035 by growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 18 Million in the year 2022. The growth of the market can be attributed to the rise in the incidence of chronic diseases across the world. About 6 in 10 U.S. people have a chronic disease as of 2022. Furthermore, the growing prevalence of diseases such as liver, pancreatic, hepatobiliary, and gastrointestinal cancers is another most important factor driving the growth of the global endoscopic ultrasound needle market. Additionally, increase awareness of healthcare and rising healthcare expenditure. The National Healthcare Expenditure of the U.S. during 2020 raised to 9.7% i.e., USD 4.1 trillion.
The increasing use of aspiration and biopsy needles for the detection of pleural effusion and lung cancer is also improving the growth of this market. Also, the increasing need to diagnose tumors and inflammatory lesions situated in and around the gastrointestinal tract is expected to fuel the growth of the global endoscopic ultrasound needle market in the forecast period.
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Base Year |
2022 |
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Forecast Year |
2023 - 2035 |
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CAGR |
~5% |
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Base Year Market Size(2022) |
~USD 18 million |
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Forecast Year Market Size(2035) |
~USD 22 million |
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Regional Size |
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Growth Drivers
Rise in Prevalence of Gastrointestinal and Stomach Cancer– Gastric cancer cases increase on account of food habits that change people. Also, increase consumption of spicy foods and more use of medicines for any disease condition. All of these lead to an increase in the prevalence of gastrointestinal and stomach cancer. About 1 in 4 cancer instances worldwide are of the gastrointestinal type, and 1 in 3 of these cases result in death.
Increase in Geriatric Population–Pancreatic cancer, liver cancer, and hepatobiliary diseases are health issues that are mostly seen in the geriatric population. The global elderly population raised by 4 times from 4.1% in 1900 to 16% in 2019.
High Use by Physicians – Endoscopic ultrasound needles are highly used by physicians and professionals in the field of gastroenterology and pulmonology, as a result of which physicians are highly driving the growth of this market. Every year more than 6 million upper gastrointestinal endoscopies take place in the U.S.
Increase Focus of Manufacturers on Fine Needle Biopsy Technology–The import value of biopsy needles in 2021 was ~USD 33,299,752.
Rise in Preference for Minimal Invasive Surgeries–The total number of minimally invasive surgeries increased from 133 to 280 i.e., a 111% rise from 2003 to 2019.
Challenges
The global endoscopic ultrasound needles market is segmented and analyzed for demand and supply by end-user in hospitals, ambulatory surgical centers, and specialty clinics. Out of these, the hospital segment is anticipated to hold the largest market size by the end of 2035. This is attributed owing to the rise in digestive and lung diseases. The total number of people diagnosed with digestive issues was 14.8 million in the U.S. in 2019. Several people are suffering from these deadly diseases, and as a matter of concern, they visit the hospital for diagnosis. This in the long run is driving the hospital segment in the endoscopic ultrasound needle market.
The global endoscopic ultrasound needles market is segmented and analyzed for demand and supply by-products into aspiration needles and biopsy needles. Out of these, the biopsy needles segment is anticipated to have the largest market share in the forecast period. Owing to growing product utilization for an endoscopic ultrasound for different pancreatic lesions, such as lymphoma, autoimmune pancreatitis, or submucosal lesions. The government of various regions and key market players are offering investment and funds in the research and development process to provide advanced technology to the population is also a driving factor of this segment.
Our in-depth analysis of the global endoscopic ultrasound needles market includes the following segments:
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By Product |
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By Application |
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By End User |
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The market in the North American region is projected to hold the largest market share by the end of 2035. This can be attributed to the account of rising government organizations’ investments in the development of healthcare. For instance, in Angola, the government raised the healthcare budget to about USD 400 million for health and education contributing 16 million to children in 2019. The growing use of advanced diagnostic procedures in the field of gastroenterology, pulmonology, and oncology in Canada and the United States is expected to drive the growth of the endoscopic ultrasound needles market in this region.
The Asia Pacific endoscopic market, amongst the market in all the other regions, is projected to hold the second largest during the forecast period. The growing incidence of cancer and chronic hepatobiliary diseases among the population in the Asia Pacific region is anticipated to drive the growth of the endoscopic ultrasound needle market in this region. Additionally, the market in the Asia Pacific region is projected to show significant growth owing to a large amount of healthcare expenditure in the region. Additionally, the low cost of production and raw materials in China and India have attracted many pharmaceuticals and biotechnological industries from around the globe to open businesses in this region which is also expected to fuel the market growth in the region.
Cook Medical device Zenith, thoraco+endovascular system received the designation of Breakthrough Device from U.S. Food and Drug Administration. This designation is offered to devices that have the potential to provide more effective treatment.
Micro-Tech Endoscopy introduced an improved version of the company”s EUS Needles – Areus FNA, and Trident FNB in association with gastroenterologist Joel Judah. He had practiced advanced endoscopy and gastroenterology in Macon, Georgia at Atrium Health Navicent Care.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
Ans: The rise in the prevalence of gastrointestinal and stomach cancer and high use by physicians are the major factors driving the growth of the endoscopic ultrasound needles market.
Ans: The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2023 – 2035.
Ans: The high cost of endoscopic ultrasound needles and the lack of skilled professionals are the few factors likely to hamper the market growth.
Ans: The market in North America is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are Medtronic Plc, Micro-Tech Endoscopy, Olympus Corporation, Medline Industries LP, Civco Medical Solutions, Protek Medical Products Inc., Spectra Medical Devices LLC, ACE Medical Devices Pvt Ltd, and many more.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by production, application, region, and end user.
Ans: The hospital sub-segment from the end-user segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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