The global biopsy needle market size US$ 701.1 million in 2021. The global biopsy needle market is forecast to grow to US$ 1,268.1 million by 2030, registering a compound annual growth rate (CAGR) of 6.1% during the forecast period from 2022 to 2030.
Biopsy needles are deployed to diagnose cancer and take a sample of cells or tissues from various regions of the body, such as the kidneys, lungs, and bone marrow. The global biopsy needle market is seeing an increase in demand for a variety of technologies and products, including needle-based biopsy guns and biopsy guiding systems.
Factors Influencing the Market
The increasing prevalence of cancer is the primary factor driving the growth of the global biopsy needle market. In addition, growing healthcare expenditure in emerging economies is expected to benefit the global biopsy needle market.
The growing number of research activities to introduce new diagnostic technologies will benefit the global biopsy needle market during the forecast period. In addition, an increasing number of efficient procedures, such as core needle biopsy, vacuum-assisted biopsy, needle-aspiration biopsy, and image-guided biopsy, will benefit the biopsy needle market as the demand for the product will increase.
However, the shortage of well-trained professionals may limit the growth of the global biopsy needle market. On the contrary, the increasing number of diagnostic centers and consumer awareness regarding early-stage diagnostics will accelerate the market growth in the coming years.
COVID-19 Impact Analysis
The COVID-19 pandemic has had a negative impact on the biopsy needle market as the demand for cancer diagnosis decreased rapidly. People all across the globe avoided visiting healthcare centers as COVID-19 patients were admitted there. In addition, the diagnostic centers also closed their services for a short time period, which impacted the global biopsy needle market. Furthermore, manufacturing activities also closed down due to the pandemic. Thus, the manufacturing of needle-based biopsy guns and biopsy guiding systems halted, which ultimately affected the global biopsy needle market.
Regional Analysis
North-America biopsy needle market is forecast to register the highest growth rate, followed by the Asia Pacific and Europe. The growth of North America is attributed to high healthcare expenditure and increasing public awareness about the early diagnosis of cancer. In addition, the rising cases of cancer in the region will benefit the regional biopsy needle market during the study period.
The governments in Asia-Pacific and Europe are focusing highly on increasing healthcare expenditure, which will contribute to the growth of the biopsy needle market in the coming years.
Competitors in the Market
Market Segmentation
The global biopsy needle market segmentation focuses on Type, Application, Utility, and Region.
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Based On Utility –
Based on Region
