Report Overview
The Global Endoscopic Ultrasound Needles Market Size is expected to be worth around USD 267.7 Million by 2033, from USD 158.2 Million in 2023, growing at a CAGR of 5.4% during the forecast period from 2024 to 2033.
The growing occurrence of gastrointestinal cancer globally is expected to drive the global endoscopic ultrasound needles market during the forecast period. Endoscopic ultrasound needles are widely used for acquiring ultrasonic and visual imagery of abdominal areas. The primary causes of stomach cancer include improper diet, aging, and excessive alcohol consumption. With rapid urbanization and the adoption of modern lifestyles, there has been a surge in the consumption of heavily processed foods, which are often known to contain certain carcinogenic compounds.
The increase in research and development activities in the field of minimally invasive surgeries is also projected to boost the endoscopic ultrasound needles market during the assessment period. Various leading market players are aiming at seeking product approvals to enhance business reach. Furthermore, the surge in popularity of robotic surgeries as well as the technological developments in cancer treatments provides lucrative prospects for the market players since the endoscopic ultrasound needles are used in conjunction with robotic systems to enhance the safety and accuracy of the procedures. These factors are anticipated to create profitable projections for the market in the years to come.
- According to the data published by the Royal College of Surgeons of England, more than 12 million procedures that were robot-assisted, have been conducted in more than 70 nations in the last 30 years. Just in 2022, more than 1.8 million of such procedures were performed.
Key Takeaways
- In 2023, the market for Endoscopic Ultrasound Needles generated a revenue of USD 158.2 million, with a CAGR of 5.4%, and is expected to reach USD 267.7 million by the year 2033.
- The product segment is divided into biopsy needles and aspiration needles, with biopsy needles taking the lead in 2023 with a market share of 54.1%.
- Considering application, the market is divided into enteral EUS Needles and bronchial EUS needles. Among these, bronchial EUS needles held a significant share of 57.2%.
- Furthermore, concerning the end-user segment, the hospitals sector stands out as the dominant segment, holding the largest revenue share of 62.3% in the Endoscopic Ultrasound Needles market.
- North America led the market by securing a market share of 41.1% in 2023.
Product Analysis
The biopsy needles segment led in 2023, claiming a market share of 54.1% owing to its growing adoption in cancer diagnosis and treatment. Biopsy needles are being increasingly used for the endoscopic ultrasound of various non-pancreatic lesions, including lymphoma, submucosal lesions, autoimmune pancreatitis, etc.
According to the data provided by the American Cancer Society in January 2022, around 25% of pancreatic cancers are predicted to be triggered by cigarette smoking, 20% due to being overweight, and genetic syndromes contribute approximately 10% of the total cases. It has been found that people with diabetes are highly prone to pancreatic cancer. The rampant surge in diabetes and obesity is expected to boost the growth of this segment.
Application Analysis
The bronchial EUS needles held a significant share of 57.2% due to their increasing adoption in lung cancer diagnosis and staging. Advances in bronchial EUS technology, such as improved needle design and echogenicity, are enhancing the accuracy and safety of lung tissue sampling.
The rising cases of lung cancer and growing demand for minimally invasive diagnostic procedures are driving the demand for bronchial EUS needles. Additionally, the expanding applications of bronchial EUS in diagnosing mediastinal lesions and lymph nodes are further fueling the growth of this segment.
End-user Analysis
The hospitals segment had a tremendous growth rate, with a revenue share of 62.3% owing to the increasing adoption of endoscopic ultrasound procedures in cancer diagnosis and treatment. This rise in adoption is due to the growing preference for minimally invasive procedures and an increase in the trend of outpatient services.
Other factors that are driving this segment’s growth are investment in the expansion of healthcare infrastructure in developed and developing economies. Moreover, there is a surge in demand for high-volume endoscopic ultrasound needles in hospitals as they are extensively used in these facilities. This, along with the rising awareness among patients and doctors about endoscopic ultrasound procedures boosts the growth of this segment.
Key Market Segments
By Product
- Biopsy Needles
- Aspiration Needles
By Application
- Enteral EUS Needles
- Bronchial EUS Needles
By End-user
- Hospitals
- Ambulatory Surgery Centers
- Specialty Clinics
Drivers
Increasing Prevalence of Cancer
The high incidence rate of cancer, particularly pancreatic and lung cancer, is expected to boost the market during the forecast period. Endoscopic needles are used to collect tissue samples for biopsy and diagnose cancer, leading to high adoption in cancer diagnosis and staging.
An increase in the number of cancer patients implies frequent use of endoscopic ultrasound procedures, which in turn raises the demand for needles. Furthermore, the growing need for minimally invasive procedures to reduce cancer treatment complications also fuels the demand for endoscopic ultrasound needles.
- According to the estimates of the American Cancer Society, around 66,440 people are likely to be diagnosed with pancreatic cancer in 2024. This includes 31,910 women and 34,530 men.
Restraints
High Cost of Endoscopic Ultrasound Needles
The high cost of endoscopic ultrasound needles restrains market growth by limiting their adoption to advanced and expensive healthcare facilities. The expense of these needles can be a significant burden for hospitals and clinics, leading to reduced demand.
Additionally, the high cost of replacement needles can deter healthcare providers from using endoscopic ultrasound technology, opting for alternative diagnostic methods instead. The high cost of needles can also lead to reduced usage in emerging economies, where healthcare budgets are limited.
Opportunities
Growing Inclination toward Minimally-invasive Surgeries
Due to advanced robotic devices, healthcare professionals can perform minimally invasive surgical procedures. Endoscopic operation is gaining popularity owing to its advanced technology of reaching internal organs through small incisions. This results in lesser pain and quicker recovery in comparison to the traditional surgeries.
These factors are projected to fuel the requirement for endoscopic ultrasound needles. With the surge in lung and digestive diseases, endoscopic ultrasound is finding extensive application since it is minimally invasive. According to the recent data from ScienceDirect, resection minimally invasive surgeries performed for colon cancer increased from 34.9% to 72.9%. For rectal cancer, the percentage grew from 28.8% to 72.5%.
Since endoscopic ultrasound needles are extensively used in the biopsy of cancer, this is projected to create lucrative prospects for the market.
Impact of Macroeconomic / Geopolitical Factors
Macroeconomic and geopolitical factors exert a significant influence on the Endoscopic Ultrasound Needles market, shaping its growth trajectory and dynamics. Factors like economic downturns and recessions can negatively impact the market by reducing healthcare expenditure and demand.
Geopolitical tensions can lead to trade conflicts, disrupting the supply chains and affecting the availability of endoscopic ultrasound needles. However, government investments in healthcare infrastructures and attractive reimbursement policies can positively impact the market. Additionally, growing healthcare expenditure in emerging economies is projected to create lucrative prospects for the market.
Trends
Technological Advancements in EUS-guided Fine Needle Biopsy
Technological advancements in endoscopic ultrasound needles have led to improvements in diagnostic accuracy and enhanced patient outcomes. The recent developments in endoscopic ultrasound fine needle biopsy allow for better preservation of tissue architecture, enabling more accurate diagnosis.
Additionally, advancements in needle design such as echogenic tips and improved flexibility have enhanced the precision and safety of the biopsy procedure. These factors are likely to impel the market during the forecast period.
Regional Analysis
North America is leading the Endoscopic Ultrasound Needles Market
North America dominated the market with the highest revenue share of 41.1% owing to the advanced healthcare system, and excellent healthcare infrastructure. Also, there is a high prevalence of cancer in this region which leads to the rising usage of advanced diagnostic procedures in oncology, pulmonology, and gastroenterology in the US as well as Canada.
In addition, there is a strong presence of key players in the region. Based on statistics released by the American Cancer Society in 2022, the estimated number of new instances of digestive system cancer and genital system cancer in the US in 2022 was around 343,040 and 395,600, respectively for both male and female. There is a need for methods to identify and treat these illnesses because of their high occurrence rate.
The Asia Pacific region is expected to experience the highest CAGR during the forecast period
Asia Pacific is expected to grow with the fastest CAGR owing to rising healthcare costs and further advancements in cancer therapy. Demand for endoscopic ultrasound needle is being driven by the population’s increasing prevalence of chronic disorders.
As per the National Institutes of Health, Asia has a remarkably high incidence and death rate of gastric cancer because of factors including high helicobacter pylori infection, certain food habits, smoking habits, and excessive alcohol intake. Therefore, the region’s rising rate of stomach cancer is projected to create lucrative growth opportunities for the market.
Key Regions and Countries
- North America
- US
- Canada
- Europe
- Germany
- France
- The UK
- Spain
- Italy
- Russia
- Netherland
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- New Zealand
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
Key Players Analysis
The major players in the Endoscopic Ultrasound Needles market are actively engaged in the development and introduction of innovative products, as well as implementing strategic initiatives aimed at enhancing their competitive positioning. These companies engage in R&D to develop new needle designs, materials, and technologies. Market players like Olympus and Cook Medical engage in mergers and acquisitions to expand their product portfolio and increase market share.
Top Key Players in the Endoscopic Ultrasound Needles Market
- Olympus Corporation
- Medtronic
- Medi-Globe GmbH
- Cook Group
- CONMED Corporation
- CIVCO Medical Solutions
- Boston Scientific Corporation
- Limaca Medical
- ACE Medical Devices Pvt. Ltd
Recent Developments
- In September 2023, Limaca Medical received the U.S. Food and Drug Administration’s 510(k) clearance for its Endoscopic Ultrasound (EUS) Biopsy Device called Precision GI. It acquires biopsies through EUS needles for conclusive diagnosis of pancreatic cancer and other GI cancers quickly and less traumatically.
- In June 2021, Olympus Corporation, a leading provider of digital and optical precision technology, and Hitachi, Ltd. entered a five-year collaboration to develop endoscopic ultrasound systems. As part of this agreement, Hitachi will continue to provide Olympus with diagnostic ultrasound systems and related components such as EUS needles, among others, for endoscopic ultrasound procedures.
