Endoscopic Ultrasound Needles Market is Anticipated to Expand at a Stable CAGR of over 4.5%

Endoscopic Ultrasound Needles Market – Snapshot

Endoscopic ultrasound (EUS) is a minimally invasive procedure that involves visual as well as ultrasonic imaging of the thoracic and abdominal regions. Since its introduction in the 1980s, EUS has gained wide acceptance among surgeons and physicians in the fields of pulmonology and gastroenterology. A conventional endoscope can provide imaging of the inner wall of the gut, while EUS provides ultrasound imaging of the organs beyond the gut wall. The EUS procedure is performed for diagnostic and therapeutic purposes. Selection of the EUS endoscope depends on the application and the organ. EUS-guided needles are used for collection of specimens from organs such as the pancreas, the liver, and the lymph nodes for cytological and histological studies. These specimens are collected for diagnosis of pancreatic cancer, hepatobiliary diseases, and metastatic cancer. In 2016, the global market for endoscopic ultrasound needles was valued at US$ 139.2 Mn and is expected to expand at a CAGR of 4.4% from 2017 to 2025. Other imaging methods are also available; however, specimens collected by using EUS-guided needles facilitate cytological and histological studies of the diseased organ.

EUS needles are widely used for collection of specimens from the pancreas, the liver, and the lymph nodes for diagnosis of cancer and other chronic diseases. Applications such as bronchial endoscopy and endoscopy of organs other than the gastrointestinal organs are likely to offer growth opportunities to the global endoscopic ultrasound needles market in the near future. Thus, further research in the field of endoscopic ultrasound needles for their further utilization is likely to present growth potential to the market in the near future.

The global endoscopic ultrasound needles market can be segmented in terms of product, application, end-user, and geography. In terms of product, the market can be divided into aspiration needles (EUS-FNA) and biopsy needles (EUS-FNB). The aspiration needles segment is likely to account for a leading share of the global EUS needles market during the forecast period, owing to wide usage of these needles in the fields of pulmonology and gastroenterology. Technological advancements in EUS biopsy needles are estimated to result in strong growth of the biopsy needles segment during the forecast period. Based on application, the endoscopic ultrasound needles market can be segmented into bronchial EUS needles and enteral EUS needles. Increasing adoption of EUS needles in gastroenterology is likely to fuel the enteral EUS needles segment in the next few years. Based on end-user, the market can be segmented into hospitals, ambulatory surgical centers, and specialty clinics. The ambulatory surgical centers segment is estimated to register the maximum growth rate during the forecast period, owing to increasing number of ambulatory surgical centers and rising number of endoscopic ultrasound procedures performed in these centers.

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Among regions, the endoscopic ultrasound needles market in Asia Pacific is likely to expand at a high CAGR from 2017 to 2025. Increase in the incidence of cancer and chronic hepatobiliary diseases in Asia Pacific is projected to fuel the market in the region during the forecast period. The market in Asia Pacific is projected to witness strong growth during the forecast period, due to increasing health care expenditure in the region. Moreover, low cost of manufacturing in China and India has resulted in rise in the number of production facilities, attracting large pharmaceutical and biotechnological companies from across the world to Asia Pacific.

Key players covered in this report on the global market for endoscopic ultrasound needles include Olympus Corporation, Medtronic, Cook Medical, CONMED Corporation, Medi-globe, ACE Medical Devices Pvt. Ltd., and Boston Scientific Corporation. The market leaders have established their brand in the market and they enjoy brand loyalty among consumers. These manufacturers have a wide product range to offer and an extensive distribution system across the world. In addition, small players are entering the emerging markets in Asia. However, strict regulatory policies and high quality standards set by the leading players in the market may restrain the entry of new players in the market.

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Transparency Market Research (Tmr) is a U.S.-based provider of syndicated research, customized research, and consulting services.