Endoscopic Ultrasound Needles Market Growth Analysis | 2023-2028

Market Insights

The endoscopic ultrasound needles market was estimated at USD 150.1 million in 2022 and is likely to grow at a CAGR of 4.6% during 2023-2028 to reach USD 197.15 million in 2028.

Want to know more about the market scope? Register Here

What are endoscopic ultrasound needles?

Endoscopic ultrasound (EUS) is a procedure, which uses sound waves in the form of ultrasound during an endoscopic procedure to examine and look through the walls of the gastrointestinal tract. These needles are fine tips, which are employed to sample targeted gastrointestinal parts through accessory channels of the endoscope. Endoscopic ultrasound needles find usage for both therapeutic and diagnostic purposes.

Covid-19 Impact

The COVID-19 pandemic has moderately affected the endoscopic ultrasound needles industry. The rapid spread of COVID-19 has led to several thousands of hospital admissions. The focus of healthcare professionals has been shifted toward the treatment of COVID-19-infected patients, which affected the treatment of non-emergency medical conditions, amid the pandemic.

Key Players

Some of the key players operating in the global market are-

• Olympus (Japan)
• Medtronic (Ireland)
• Cook Medical (US)
• Boston Scientific (US)
• CONMED (US)
• Medi-Globe (US)
• ACE Medical (US)
• ENDO-FLEX GmbH (Germany)
• Micro-Tech Endoscopy (US)

Market Dynamics

The growth of the endoscopic ultrasound needles market is driven by the increasing prevalence of gastrointestinal cancers, the rising geriatric population, and the growing demand for minimally invasive surgical procedures.

Here are some of the trends and growth opportunities in the endoscopic ultrasound needles market:

• Increasing prevalence of gastrointestinal cancers: The prevalence of gastrointestinal cancers, such as pancreatic cancer, liver cancer, and colon cancer, is increasing globally. This is due to a number of factors, including unhealthy lifestyle choices, such as smoking and excessive alcohol consumption, and the aging population. Endoscopic ultrasound needles are used to biopsy these cancers, which helps to improve the accuracy of diagnosis and treatment.
• Rising geriatric population: The global population is aging, and this is leading to an increase in the prevalence of chronic diseases, such as gastrointestinal cancers. Endoscopic ultrasound needles are used to biopsy these cancers in elderly patients, who are often not suitable for surgery.
• Growing demand for minimally invasive surgical procedures: There is a growing demand for minimally invasive surgical procedures, such as endoscopic ultrasound-guided biopsy. This is due to the fact that these procedures are associated with less pain, shorter hospital stays, and faster recovery times.
• Technological advancements: There are a number of technological advancements that are taking place in the field of endoscopic ultrasound needles. These advancements include the development of new needle designs, improved imaging technology, and the use of robotics. These advancements are expected to further drive the growth of the market.

Some of the challenges that the endoscopic ultrasound needles market faces include:

• High cost of endoscopic ultrasound needles: Endoscopic ultrasound needles are relatively expensive, which can limit their accessibility in some parts of the world.
• Strict regulatory requirements: There are strict regulatory requirements for the manufacturing and sale of endoscopic ultrasound needles. This can make it difficult for new companies to enter the market.
• Lack of skilled operators: There is a lack of skilled operators who are trained to use endoscopic ultrasound needles. This can limit the use of these needles in some parts of the world.

Overall, the endoscopic ultrasound needles market is expected to grow at a healthy pace in the coming years. The growth of the market is being driven by a number of factors, including the increasing prevalence of cancers, the rising geriatric population, and the growing demand for minimally invasive surgical procedures.

Want to have a closer look at this market report? Click Here.

Segment Analysis

By Product Type

The market has been classified into aspiration needles (EUS-FNA) and biopsy needles (EUS-FNB). The biopsy needles (EUS-FNB) segment accounted for the largest market share in 2022 and is expected to remain the most dominant segment in the market during the forecast period.

This is mainly attributed to rising product usage for endoscopic ultrasound of various non-pancreatic lesions, such as lymphoma, submucosal lesions, autoimmune pancreatitis, etc.

Regional Insights

North America accounted for the highest share in 2022 and is expected to grow at a robust CAGR during the review period. The market growth is mainly attributed to the changing lifestyles of the people, growing cancer cases, increasing number of gastrointestinal disorders, the prevalence of better healthcare facilities, rising healthcare spending, and favorable reimbursement & insurance plans, which augments the regional market growth during the forecast timeline.

The Asia Pacific is expected to grow at a healthy CAGR during the review period due to the increasing aging population, high prevalence of cancer and gastrointestinal disorders as well as testing labs for endoscopy in the region. Moreover, a growing case of chronic diseases, as well as a rising life expectancy of populations in numerous emerging economies, further bolsters regional market growth.

Know the high-growth countries in this report. Register Here

Critical Questions Answered in the Report

• What are the key trends in the global market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The endoscopic ultrasound needles market is segmented into the following categories.

By Product Type

• Aspiration Needles (EUS-FNA)
• Biopsy Needles (EUS-FNB)

By End Use Type

• Hospitals
• Ambulatory Surgical Centers
• Specialty Clinics

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

Click Here, to learn the market segmentation details.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Target Audience

The target audience of the market includes-

• Vendors
• Manufacturers
• Distributors
• Organizations
• Government Bodies

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Customization Option

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.