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CHEMICALS AND ADVANCED MATERIALS

Endoscopic Ultrasound Needles Market Analysis by Product {Aspiration Needles (EUS-FNA), and Biopsy Needles (EUS-FNB)}; by Application (Bronchial EUS Needles, Enteral EUS Needles); and by End-User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Mar 31, 2022: Cook Medical device Zenith, thoraco+endovascular system received the designation of Breakthrough Device from the U.S Food and Drug Administration.
  • Oct 21, 2021: Micro-Tech Endoscopyintroduced an improved version of the company's EUS needles -Areus FNA, and Trident FNB in association with gastroenterologist Joel Judah.

Global Endoscopic Ultrasound Needles Market Highlights Over 2023 - 2033

Base Year 2022
Forecast Year 2023-2033                     
CAGR                                                                          ~5%                                             
Base Year Market Size (2022) ~USD 18 Million
Forecast Year Market Size (2033) ~USD 22 Million

 

The global endoscopic ultrasound needles market is estimated to garner a revenue of USD 22 Million by the end of 2033 by growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 18 Million in the year 2022. The rise in the incidence of chronic diseases across the world. About 6 in 10 U.S people have the chronic disease as of 2022.

Endoscopic-Ultrasound-Needles-Market-Analysis-Overview

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Additionally, increase awarenessof healthcare and rising healthcare expenditure. The National Healthcare Expenditure of the U.S during 2020 raised to 9.7% i.e., 4.1 trillion.

Global Endoscopic Ultrasound Needles Market: Growth Drivers and Challenges

Growth Drivers

  • Rise in Prevalence of Gastrointestinal and Stomach Cancer–Gastric cancer cases increase on account of food habit changes of 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.Gastrointestinal cancers account for about 1 in 4 cancer cases across the world with 1 in 3 death cases.
  • Increase in Geriatric Population–The old people population raised by 4 times from 4.1% in 1900 to 16% in 2019.
  • High Use by Physicians –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 minimal invasive surgeries increased from 133 to 280 i.e., 111% of rise from 2003 to 2018.

Challenges

  • High Cost of Endoscopic Ultrasound Needles
  • Lack of Skilled Professionals
  • Risk of Infections

The global endoscopic ultrasound needles market is segmented and analyzed for demand and supplyby end-user into 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 2033 owing tothe rise in digestive and lung diseases. The total number of people diagnosed with digestive disorders was 14.8 million in the U.S in 2018.

Major Macro-Economic Indicators Impacting the Market Growth

Major-Macro-Economic-Indicators-Impacting-the-Market-Growth.

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in the future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, which accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. The easy availability of low-cost raw materials & labor, as well as government subsidies and relaxed environmental norms, have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for investment in businesses in Asia Pacific countries in the upcoming years.

Global Endoscopic Ultrasound Needles Market Regional Synopsis

Regionally, the global endoscopic ultrasound needles market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America region is projected to hold the largest market share by the end of 2033on the account of rising government organizations’ investments inthe 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 2018.

Endoscopic-Ultrasound-Needles-Market-Analysis-Share

The global endoscopic ultrasound needles market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global endoscopic ultrasound needles market includes the following segments:

 

By Product

  • Aspiration Needles
  • Biopsy Needles

 

By Application

  • Bronchial EUS Needles
  • Enteral EUS Needles

 

By End-User

  • Hospitals
  • Ambulatory Surgical Centers
  • Specialty Clinics

Top Featured Companies Dominating the Global Endoscopic Ultrasound Needles Market

  • Cook Group Incorporated
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Medi-Globe GmbH
  • 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.

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