The aspiration and biopsy needles market will reach USD 1,717.9 million, advancing at a 7.2% compound annual growth rate, by 2030.
The growth of this industry is ascribed to the mounting healthcare expenses, as well as the increasing occurrence of cancer and consciousness regarding the ailment and treatment possibilities.
Moreover, the growing patient fondness for minimally invasive surgeries, coupled with the advancement of technology in image-guided biopsy systems is also helping the progression of this industry.
In recent years, the core needle category, based on type, was the larger contributor to the industry, owing to the capability of this type of method to seamlessly diagnose benign lesions.
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In the past few years, the hospital's category, based on end users, was the largest contributor to the industry, and it will remain the largest throughout this decade. This can be because hospitals deliver service to a significantly higher count of patients than clinics and diagnostic centers.
North America led the industry in recent years, because of the high healthcare expenses and rising consciousness of early cancer detection. Moreover, numerous new devices are being approved by the U.S. FDA, which is inspiring the industry players to increase their efforts in R&D in this field.
APAC is expected to observe the fastest growth in the years to come. This can be attributed to the increasing number of cancer patients coupled with the rising consciousness regarding the possibilities of diagnosing the ailment in this region.
It is because of the surging prevalence of cancers along with the rising healthcare expenses; the aspiration and biopsy needles industry will continue to progress in the years to come.