New York, NY -- (SBWIRE) -- 08/27/2020 -- According to a report by P&S Intelligence, the 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).

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.

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The biggest rage presently being witnessed in the aspiration and biopsy needles market is the rising approvals for aspiration and biopsy needles. For instance, the EZ Shot 3 Plus 25 G EUS, which is a single-use needle developed by Olympus Corporation for fine-needle biopsy and aspiration procedures, received approval from the U.S. Food and Drug Administration (USFDA) in September 2018. This needle can be used to analyze and study the extramural and submucosal lesions found in different sections of the gastrointestinal tract.

The objective of this research includes;

- Major factors driving the aspiration and biopsy needles market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the aspiration and biopsy needles market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
- Major players operating in the aspiration and biopsy needles market and their service offerings

Geographically, the highest usage of aspiration and biopsy needles was observed in North America in 2019, mainly due to the rising awareness in the region about the early cancer diagnosis processes, soaring healthcare spending, and surging number of devices being granted approval by the USFDA. The fastest growth in the adoption of aspiration and biopsy needles is expected to be witnessed in the Asia-Pacific (APAC) region during the forecast period. This is primarily ascribed to the increasing pool of cancer patients and rising awareness regarding the various cancer diagnosis methods available in the region.

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Boston Scientific Corporation, Olympus Corporation, Stryker Corporation, Medtronic plc, Argon Medical Devices Inc., Becton, Dickinson and Company, Merit Medical Systems Inc., CONMED Corporation, Cook Medical LLC, Sterylab s.r.l., and Cardinal Health Inc. are some of the biggest aspiration and biopsy needles market players.

The research includes detailed analysis of;

Based On Type
- Core Needle
- Fine Needle

Based on Procedure
- Image-Guided
o Stereotactic-guided
o Ultrasound-guided
o Magnetic resonance imaging (MRI)-guided
o Others
- Non-Image-Guided

Based On Application
- Breast Biopsy
- Lung Biopsy
- Prostate Biopsy
- Bone and Bone Marrow Biopsy

Based On End User
- Hospitals
o Outpatient settings
o Inpatient settings
- Diagnostic Centers
- Clinics
- Research and Academic Institutes

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