Endoscopic Ultrasound Needles Market Trends

  • Report ID: 4312
  • Published Date: Mar 24, 2023
  • Report Format: PDF, PPT

Endoscopic Ultrasound Needles Market Trends

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

  • High Cost of Endoscopic Ultrasound Needles – The first and foremost challenge that comes in the way of this market is the high cost of endoscopic ultrasound needles. Not everybody has the monetary funds to afford such high-cost products which are expected to hamper the market share in the following times.
  • Lack of Skilled Professionals
  • Risk of Infections

Endoscopic Ultrasound Needles Market: Key Insights

Base Year

2022

Forecast Year

2023 - 2035

CAGR

~5%

Base Year Market Size(2022)

~USD 18 million

Forecast Year Market Size(2035)

~USD 22 million

Regional Scope

  • North America (U.S. & Canada)
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
  • 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)
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) 
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa)
Get more information on this report: Request Free Sample PDF

Browse Key Market Insights with Data Illustration:


Author Credits:  Radhika Pawar


  • Report ID: 4312
  • Published Date: Mar 24, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

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.

The market is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2023-2035.

The high cost of endoscopic ultrasound needles and the lack of skilled professionals are the few factors likely to hamper the market growth.

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.

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.

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.

The market is segmented by production, application, region, and end user.

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.
Inquiry Before Buying Request Free Sample
logo
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying