Rising Prevalence of Breast and Lung Cancer is projected to drive the Demand for Needle Biopsy Market

As per the data by Breast Cancer Organization, about 1 in 8 U.S women (about 13%), have developed invasive breast cancer during the course of their lifetime. An estimated 281, 550 new invasive breast cancer cases were diagnosed in women in the U.S. Additionally, the high prevalence of breast and lung cancer is estimated to drive the market growth. Moreover, the prevalence of lung cancer women is more due to biological factors and anatomy and the presence of smaller lungs in women than in men. This would further increase needle biopsies' distribution for timely diagnosis and treatment increase in research and development investments funds being granted by public-private organizations and government organizations, thus further delivering positive growth in the market.

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Data Bridge Market Research analyses that the needle biopsy market is expected to grow at a CAGR of 6.8% in the forecast period of 2021 to 2028 and is expected to reach USD 1,535.88 million by 2028. The initiatives conducted by the government would result in the safety of the patient, cost-savings, and less surgical care impact. In addition, the hospitals and healthcare organizations would profit by enforcing protocols by collaborating with government organizations to supply and deliver sterilized needle biopsies. The government has already started funding such work in a small way but believes that a lot more needs to be done. A national plan for rare disease research needs to be developed. Therefore, this feature is expected to supplement the growth for the global needle biopsy market.

Increasing Prevalence of Eating Disorder Is Expected To Drive the Market's Growth Rate

The increasing prevalence of eating disorder will fuel industry growth. Eating disorders have been increasing in developed economies such as the United States, the United Kingdom, Australia, and Germany. In 2015, a report commissioned by Beat projected that the condition had afflicted over 725,000 people in the United Kingdom. In 2015, the South Carolina Department of Mental Health (DMH) reported that around 8 million people in the United States, including seven million women and one million males, had an eating disorder. Overuse of needle biopsy is particularly common among patients with eating disorders. Needle biopsies, available over-the-counter (OTC), have also contributed to excessive use. The needle biopsy market is growing tremendously as a result of this abuse.

Report Scope and Market Segmentation

Segment Analysis:

Global needle biopsy market is categorized into eight notable segments based on the needle type, ergonomics, procedure, sample site, utility, application, end user and distribution channel.

• On the basis of needle type, the global needle biopsy market is segmented into trephine biopsy needles, klima sternal needle, salah needle aspiration needle, jamshidi needle and others. In 2021, the trephine biopsy needles segment is expected to dominate the global needle biopsy market growing with the highest CAGR of 7.6% in the forecast period of 2021 to 2028 due to its overall assessment of morphology and it is used as an alternative to fine needle biopsy.
• On the basis of ergonomics, the global needle biopsy market is segmented into sharp, blunt, quincke, chiba, franseen and others. In 2021 the sharp segment is expected to dominate the global needle biopsy market growing with the highest CAGR of 7.3%

The sharp segment is expected to dominate the global needle biopsy market

In 2021 the sharp segment is expected to dominate the global needle biopsy market growing with the highest CAGR of 7.3% in the forecast period of 2021 to 2028 due to its accurate detection and diagnosis of the cancer tumor.

• On the basis of procedure, the global needle biopsy market is segmented into fine-needle aspiration biopsy, core needle biopsy, vacuum-assisted biopsy, image-guided biopsy. In 2021, the fine-needle aspiration biopsy segment is expected to dominate the global needle biopsy market growing with the highest CAGR of 7.5% in the forecast period of 2021 to 2028 as it is minimally invasive. It provides rapid and effective diagnostic results to determine the status of the suspected tissue, and timely diagnosis and treatment are predicted to dominate the market.
• On the basis of sample site, the global needle biopsy market is segmented into muscles, bones and other organs. The other organs are further sub-segmented into liver, lungs and others. In 2021, the muscle segment is expected to dominate the global needle biopsy market growing with the highest CAGR of 7.3% in the forecast period of 2021 to 2028, since it provides the source of the disease process and a better diagnostic approaches are predicted to dominate the market.
• On the basis of utility, the global needle biopsy market is segmented into disposable and reusable. In 2021, the disposable segment is expected to dominate the global needle biopsy market growing with the highest CAGR of 6.9% in the forecast period of 2021 to 2028 since the needle biopsy can be used once and disposed of carefully, and the chances of infection are less are predicted to dominate the market.
• On the basis of application, the global needle biopsy market is segmented into tumor, infection, inflammation and others. The tumor is sub-segmented into carcinoma, sarcoma, germ cell tumor, blastoma and others. In 2021, the tumor segment is expected to dominate the global needle biopsy market growing with the highest CAGR of 7.1%

The tumor segment is expected to dominate the global needle biopsy market

In 2021, the tumor segment is expected to dominate the global needle biopsy market growing with the highest CAGR of 7.1% in the forecast period of 2021 to 2028 due to increased malignant tumor cases in breast cancer and lung cancer and ease of localization and detection.

• On the basis of end user, the global needle biopsy market is segmented into hospitals, diagnostic centers, biopsy labs, ambulatory surgical centers, academic and research organizations and others. In 2021, the hospitals segment is expected to dominate the global needle biopsy market growing with the highest CAGR of 7.3% in the forecast period of 2021 to 2028 due to the increased need for lymphangioleiomyomatosis and the availability of needle biopsy to dominate the market.
• On the basis of distribution channel, the global needle biopsy market is segmented into direct tender, retail sales. In 2021, direct tender segment is expected to dominate the global needle biopsy market growing with the highest CAGR of 7.7% in the forecast period of 2021 to 2028 due to the rise in access to fine-needle aspiration biopsies, the surge in the number of biopsies daily, and the rise in the number of contacts for the supply of diagnostic medications and needle biopsy are predicted to dominate the market.

Major Players

Data Bridge Market Research recognizes the following companies as the major needle biopsy market players in needle biopsy market are Medax SRL (Italy), Boston Scientific Corporation (U.S.) Cook (U.S.) Hologic, Inc. (U.S.), ST. STONE MEDICAL DEVICES PVT. LTD. (India), AprioMed AB (Sweden), Amecath (Egypt), Zamar Care (Croatia), Cardinal Health (U.S.), INRAD, Inc. (U.S.), BD (U.S.), Möller Medical GmbH (Germany), HAKKO Corporation (Japan), ARGON MEDICAL (U.S.), Merit Medical Systems (U.S.), weLLgo Medical Products GmbH (Germany), Swastik Enterprise (India), Tsunami Medical Srl (Italy), Pajunk (Germany) and B. Braun Melsungen AG (Germany).

Market Development

• In August 2020, Hologic Inc innovated the Brevera Breast Needle Biopsy System with CorLumina Imaging Technology. The CorLumina Imaging Technology, incorporates vacuum-assisted tissue acquisition, real-time imaging verification and advanced post-biopsy handling in one integrated system.
• In February 2020, Moller Möller Medical GmbH launched the diagnostic product application of full-sCore technology for biopsies. The sCore Technology in needle biopsies consists of the well-adjusted crown cut core, which ensures less traumatic puncture and accurate diagnosis and collection of tissue. An echogenic distal tip ensures superb visibility under ultrasound-guided biopsy.
• In March 2021, B. Braun Melsungen AG announced that the company have reconstituted their Supervisory Board with four new shareholders. They resumed their work during the inaugural day session,which enhanced product portfolio of company therebyexpected to increase their revenue for the future market.
• In April 2021, BD announced that the company will be presenting in virtual investor healthcare conferences “The Bank of America Securities 2021 Virtual Healthcare Conference” and ‘The UBS Global Healthcare Virtual Conference”. This helped company in gaining more customers globally, and improved revenue for the future market

Regional Analysis

Geographically, the countries covered in the needle biopsy market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in needle biopsy market during the forecast period

North America dominated the needle biopsy market owing to the presence of major market players and rise in clinical trials within the region. North America will continue to dominate the needle biopsy market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period due to the technological developments in needle biopsy, and an increase in breast cancer diagnoses among women within the region.

Asia-Pacific is estimated to be the fastest-growing region in needle biopsy market

Asia-Pacific is expected to grow during the forecast period due to the increased awareness regarding the treatment for cancer and favorable reimbursement scenario for needle biopsy in this region. In addition, the improvement in healthcare architecture in China and collaborations between healthcare organizations and market players are expected to propel the market's growth rate in this region.

What major opportunities will aid the needle biopsy market growth rate over the forecast period?

Strategic Initiatives by the Market Players: Major market players focus on filling the demands of healthcare professionals and spending a quite noticeable amount for better products like specific biopsy needles characterized for specific tissue site of body. The players are involved in making the strategies and implementing them such as acquisition, product launch. For instance, In March 2021, B. Braun Melsungen AG has announced that the company have reconstituted their Supervisory Board with four new shareholders. They resumed their work during the inaugural day session,which enhanced product portfolio of company therebyexpected to increase their revenue for the future market. Therefore, these strategic initiatives by the market players, including acquisition, conferences, and focused segment product launches, are helping them expand and enhance the company's product portfolio, ultimately leading to more revenue generation. Hence these strategic initiatives by the market players are acting as an opportunity that is helping them to drive the global needle biopsy market.

Surge in Research and Development Activities: Research and development is a prerequisite to modify the products with a more advanced nature. As the demand for diagnostic procedures for cancer is increasing, companies are investing more in research and development to offer the best diagnostic options for convenient patient outcomes. Research laboratories are lately investing more in biopsy products and procedures due to rising cancer cases and its requirement of early diagnosis to save the patient's life. Research and development have enhanced customization in diagnosis since cells and tissues of all human are not same. The increasing tobacco consumption among people and rising growing population has surged cancer cases globally thereby the demand for research and development in pharmaceutical industries for diagnosis of it is also getting hyped. Hence increasing research and development activities are anticipated to be a greater opportunity for global needle biopsy market.

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