Endoscopic Ultrasound Needles Market : Global Size, Share, Trends, Growth and Forecast Year ( 2023 – 2032 )
The endoscopic ultrasound needles market is anticipated to flourish at a CAGR of 4.7% over the forecast period i.e. 2020-2025. Further, the market for endoscopic ultrasound needles was valued at USD XXX.X Million in 2019.
Growth Drivers – Endoscopic Ultrasound Needles Market
Increasing Prevalence of Gastrointestinal Tract Cancer
Rise in the penetration rate of stomach cancer is anticipated to aid to the growth of global endoscopic ultrasound needles market. Endoscopic ultrasound needles are used to diagnose tumor and inflammatory lesions located in and adjacent to gastrointestinal tract. According to World Cancer Research Fund, stomach cancer is fourth commonly occurring cancer in men and seventh most commonly occurring in women. Further, more than 1 million cases of stomach cancer were recorded in 2019. Moreover, rate of stomach cancer prevalence is anticipated to increase on the account increasing grey population across the globe. This factor is believed to drive the growth of global endoscopic ultrasound needles market.
Innovation and Technological Advancements
Various leading and innovative manufacturers are focusing on development of advanced needle biopsy technology. Moreover, physicians are also using high-definition endoscopic ultrasound needle technologies to obtain more informative images of gastrointestinal tract. This factor is likely to drive demand for endoscopic ultrasound needles in the years ahead.
Barriers – Endoscopic Ultrasound Needles Market
High Cost of Endoscopic Ultrasound Needles
Stringent rules and regulation by various government agencies is one of the factor which is negatively impacting the growth of global endoscopic ultrasound needles market.
The endoscopic ultrasound needles market by product is segmented into aspiration needles (EUS-FNA) and biopsy needles (EUS-FNB). The market for aspiration needles captured highest percentage in 2019. This can be attributed to wide scale usage of aspiration needles in pulmonology and gastroenterology. Moreover, it is anticipated to continue its dominance during the forecast period.
Further, global endoscopic ultrasound needles market is also segmented by end users into hospitals, ambulatory surgical centers, and specialty clinics. Ambulatory surgical centers segment is anticipated to witness highest year-on-year growth during the forecast period. Factors such as increasing number of ambulatory surgical centers and growth in number of procedures performed in ASC is anticipated to intensify the growth of global endoscopic ultrasound needle market during the forecast period.
Geographically, the report offers analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In endoscopic ultrasound needles market, North America captured highest percentage of market share in global endoscopic ultrasound needles market. Factors such as early and high adoption rate of advanced technologies and increasing utilization in geriatric care is anticipated to drive the demand for endoscopic ultrasound needles in North America region. Moreover, Asia Pacific endoscopic ultrasound needles market is expected to witness robust growth during the forecast period. Factors such as rising demand for high-healthcare delivery and increasing homecare settings in the region is paving the way for the growth of endoscopic ultrasound needles market in Asia Pacific.
The report profiles various major market players such as;
- Olympus Corporation
- Medtronic Plc
- Cook Group Incorporated
- Boston Scientific Corporation
- CONMED Corporation
- Medi-Globe Corporation
- ACE Medical Devices Pvt. Ltd.
- Other Key & Niche Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
The study also provides company’s positioning and market share in endoscopic ultrasound needles market.
Timeline Considered for Analysis:
- 2019: Base Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global endoscopic ultrasound needles market by the following segments:
- End User
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Endoscopic Ultrasound Needles Industry Report
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?