Disposable Coaxial Biopsy Needle Market Size, Share, Growth, and Industry Analysis, By Type (13G, 15G, 17G, 19G, Others), By Application (Hospitals, Clinics, Others), Regional Insights, and Forecast To 2032

Updated On: 15 April 2024

REPORT OVERVIEW

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global disposable coaxial biopsy needle market size was USD 30 million in 2022 and market is projected to touch USD 99.87 million by 2032 at CAGR 38% during the forecast period.

The COVID-19 pandemic has been unprecedented and staggering, disposable coaxial biopsy needle experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

A biopsy involves taking a sample of tissue or cells from the patient's body using a needle for further laboratory analysis. The medical professionals may suggest a biopsy test if they found any aberrant tissues or cells in the patient's body. By providing them an additional look at the abnormal cells or tissues, the biopsy test allows medical professionals to identify the corresponding ailment. By taking a small amount of tissue from the site of the tumor with a tiny needle inserted through the skin, a disposable coaxial biopsy needle eliminates the need for surgery. Further factors driving the market forward include the rising incidence of cancer, increased knowledge of the condition and available treatments, patient desire for minimally invasive procedures, rising healthcare costs, and technological developments in image-guided biopsy systems.

COVID-19 Impact: Placement of Restrictions to Deplete Market Share 

The COVID-19 pandemic, that has left a significant negative impact on the world economy, had a negative impact on many businesses and associations of all sizes. The pandemic's beginning lockdown and the restrictions put in place by the authorities initially affected the disposable coaxial biopsy needle business. In April 2020, the COVID-19 outbreak made an enormous financial effect on the healthcare industry, university radiology programs, and radiology clinics.

LATEST TRENDS 

"Increment in Autoimmune Disorders to Stimulate Market Development  "

By 2032, it is expected that the market regarding autoimmune disorder applications would surpass a predicted percentage. Type 1 diabetes, arthritis with rheumatoid arthritis (RA), arthritis caused by psoriasis, multiple sclerosis (MS), celiac disease, among others are examples of common autoimmune disorders. Over ninety autoimmune diseases are thought to impact the global population. These diseases are becoming more common, and treating them is costing the American economy roughly a billion dollars annually. Therefore, over the course of the forecast period, there should be an increase in demand for biopsy operations and associated equipment.

SEGMENTATION

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By Type

Based on type; the market is divided into 13G, 15G, 17G, 19G, others

13G is the leading part of the type segment.

By Application

Based on the application; the market is divided into hospitals, clinics, others

Hospitals is the leading part of the application segment.

DRIVING FACTORS

"Ambulatory Surgery Facilities to Aid Market Expansion  "

Based on end-use, the market share from ambulatory surgery facilities is anticipated to grow at a substantial rate from 2023 to 2032. Because they are reasonably priced and offer a variety of medical treatments, ambulatory surgery facilities (ASCs) have grown in popularity among physicians and consumers. Additionally, in recent years, the quantity of treatments and services has grown at an average yearly rate.

"Needle-Based Biopsy Guns to Foster Industry Progress "

The market from needle-based biopsy guns reached over a substantial rate or percent during 2022, and during the forecasted timeframe, it is anticipated to rise significantly. Products including needle-based biopsy guns have been made possible by technological developments in biopsy equipment. Needlescopy provides many advantages to surgical biopsy, including the ability to avoid surgery for patients with benign lesions, quick turnaround times, lower costs, and less intrusive procedures. Over the foreseeable term, it is anticipated that these advantages will fuel segmental expansion.

RESTRAINING FACTORS

"Shortage of Qualified Medical Personnel to Stop Market Evolution  "

The distribution and application of disposable coaxial biopsy needle may be impacted by a shortage of qualified medical personnel. In order to use the equipment and understand the data, a biopsy procedure requires strong technical ability. A large number of customers are concerned about accurate diagnosis due to undertrained medical personnel, which may be a barrier towards the disposable coaxial biopsy needle market growth.

REGIONAL INSIGHTS

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"Highly Skilled Medical Personnel to Support Market Advancement "

During the forecasted timeframe the disposable coaxial biopsy needle market in Europe is expected to exceed a substantial rate of revenue. In the region during 2020, there were deaths caused by cancer and additional cancer diagnoses. The highest rates of cancer are found in Ireland, Belgium, the Netherlands, Denmark, and various other European countries. In Europe, Germany controls the disposable coaxial biopsy needle market share. This is brought about by the number of highly skilled medical personnel, the advanced state of the health care system, and the existence of significant market participants. In addition, Europe has a sizable elderly population, which will drive up the requirement for biopsy needles in the years to come.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled 

• BD (U.S.)
• Merit Medical Systems (U.S.)
• Argon Medical Devices (India)
• TSK Laboratory (Japan)
• IZI Medical (U.S.)
• Medax (France)
• AprioMed (Sweden)
• GEOTEK (U.K.)
• Mammotome (U.S.)
• MÖLLER Medical (Germany)
• TUOREN (India)
• Curaway Medical (China)
• INRAD (U.S.)
• Biopsybell (Italy)
• Zamar Care (Croatia)

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization. In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.