The Endoscopic Ultrasound (EUS) Needles Market Will Exhibit Profitable Growth During the Forecast Period
The global market for endoscopic ultrasound needles was worth US$ 289.3 million in 2017 and is expected to reach US$ 440.4 million by 2026. Growing geriatric populations, coupled with the rising prevalence of diseases such as gastrointestinal, lung, liver and hepatobiliary, and pancreatic, worldwide, are majorly driving the market growth. Additionally, technological advances in endoscopic ultrasound needles and increasing patient preference for minimally invasive surgeries are anticipated to display a significant future outlook over the forecast period from 2018 to 2026. According to the World Health Organization (WHO), the elderly population will surge from 841.0 million in 2013 to 962.3 million in 2017 and over 2 billion by 2050 across the globe. According to the United Nations (an intergovernmental organization), by 2050, the elderly population may account for 35.0% of the population in Europe, 28.0% in North America, 25.0% in Latin America and the Caribbean, 24.0% in Asia, 23.0% in Oceania, and 9.0% in Africa.
The older population is more likely to develop gastrointestinal (GI) diseases, lung diseases, liver and hepatobiliary diseases, and pancreatic diseases, among others. As per the data published by World Cancer Research Fund International, worldwide, there were 952,000 new cases diagnosed in 2012. In 2015, the WHO reported that about 754,000 deaths occurred due to stomach cancer, 1.69 million deaths due to lung cancer, and 788,000 deaths due to liver cancer. According to the American Lung Association, in 2018, around 415,000 Americans were diagnosed with lung cancer. In 2016, about 224,390 new cases of lung cancer were diagnosed in the country. On the contrary, the risk of complications associated with EUS, such as infection, bleeding, pancreatitis, and tearing of the intestinal wall or throat, is anticipated to limit the use of EUS during the forecast period.
Market Synopsis
The Aspiration Needles (EUS-FNA) Segment is expected to register relatively higher growth over the forecast period.
Aspiration needles are intended for the diagnosis and staging of various lesions located in and around the gastrointestinal tract and adjacent organs. The EUS-FNA is usually performed at several endoscopic centers, and it has a significant impact on the therapeutic management of patients. The rising adoption of aspiration needles for the treatment of gastrointestinal diseases, lung diseases, liver and hepatobiliary diseases, and pancreatic diseases, among others, is expected to continue the dominant of the aspiration needles segment during the forecast period.
The Gastrointestinal Diseases Segment is expected to dominate the market from 2018 to 2026.
Due to the increasing applications of aspiration and biopsy needles in the diagnosis of inflammatory bowel disease (IBD) and cancers such as gastric/stomach, anal and rectal, and esophageal, gastrointestinal diseases held the largest market share in 2017.Endoscopic ultrasonography is primarily used for the diagnosis and loco-regional staging of gastric cancer, which cannot be reliably imaged by other modalities such as magnetic resonance imaging (MRI), computerized tomography (CT), or diagnosed with conventional biopsies and endoscopy.
The hospital segment is the most important contributor to the overall growth of the endoscopic ultrasound needles market.
According to data from an independent source, there are currently over 145,000 hospitals worldwide. A global surge in the number of hospitals, along with comparatively higher use of endoscopic ultrasound needles for the diagnosis of gastrointestinal, pulmonary, liver, and pancreatic diseases, is assisting in the dominance of the hospital segment. Ambulatory surgery centers' (ASCs') ability to improve quality and customer service while simultaneously reducing costs has triggered a gradual rise in the number of endoscopic ultrasound procedures. The ASC vertical has demonstrated itself to be ahead of the curve in identifying favorable avenues for improving healthcare delivery, which is supporting the fastest market growth over the forecast period.
North America is the market leader, owing to increased demand for advanced diagnostic techniques in gastroenterology, pulmonology, and oncology.
North America spearheaded the market in 2017 owing to higher demand for advanced diagnostic techniques in gastroenterology, pulmonology, and oncology; the presence of major market participants; the availability of advanced products in the U.S. and Canada; and the rising prevalence of cancers such as stomach, pancreatic, metastatic, and lung. Asia Pacific is expected to register a comparatively higher CAGR during the forecast period due to the presence of the target population coupled with the increasing incidence of GI and liver diseases and the growing awareness of endoscopic ultrasound in China, India, and Japan.
The presence of multinational market participants makes market penetration challenging for new entrants.
Major players in this vertical are Medtronic plc, Olympus Corporation, Boston Scientific Corporation, Cook Medical, CONMED Corporation, Medi-Globe GmbH, and ACE Medical Devices Pvt. Ltd. These market players are adopting new product launches, mergers and acquisitions, partnerships, and collaborations as growth strategies to gain a competitive advantage. For instance, in April 2016, Olympus Corporation launched the EZ Shot 3 Plus single-use aspiration needle in Europe and Asia Pacific in order to increase its gastrointestinal product portfolio. Some market participants are raising capital from existing investors to fund the commercial growth of their EUS needle products, while a few players have adopted an inorganic growth strategy such as an acquisition. For instance, in April 2015, Boston Scientific Corporation acquired Xlumena, Inc., a U.S.-based manufacturer of minimally invasive (MI) devices for endoscopic ultrasound-guided transluminal drainage of targeted areas within the gastrointestinal tract (GIT), in order to become a market leader in the EUS segment.
Historical & Forecast Period
2016: historical Year
2017: base Year
2018–2026: Forecast Period
This study report includes an analysis for each Segment from 2016 to 2026, with 2017 as the base year. The compound annual growth rate (CAGR) for each of the respective segments is estimated for the forecast period from 2018 to 2026.
Report Scope by Segments
The endoscopic ultrasound needles market includes both qualitative and quantitative analysis of current market dynamics and report scope. The report interprets comprehensive information on the global endoscopic ultrasound needles market by segmenting the market based on product, disease type, end-user, and geography. This report would guide industry investors, medical device companies, venture capitalists, research and consulting firms, and healthcare professionals in decision-making and strategizing the market position.
Product Segment (2016-2026; millions of dollars)
Aspiration Needles (EUS-FNA)
Biopsy Needles (EUS-FNB)
Segment by Disease Type (2016-2026; US$ Mn)
Diseases of the Gastrointestinal Tract
Lung Diseases
Liver and Hepatobiliary Diseases
Pancreatic Diseases
Others (lymphatic diseases, periampullary cancer, and uterine, cervical, and ovarian cancer)
End-user Segment (2016-2026; in millions of dollars)
Hospitals
Ambulatory Surgical Centers (ASCs)
Specialty Clinics
Geography Segment (2016-2026; millions of dollars)
North America
U.S.
Canada
Europe
U.K.
Germany
Rest of Europe
Asia Pacific
Japan
China
Rest of Asia Pacific
Latin America
Brazil
Mexico
rest of Latin America
Middle East and Africa
GCC
Rest of the Middle East and Africa
The current report also includes a qualitative analysis of market variables such as key market drivers, restraints, opportunities, and market trends, which provides a better understanding of the overall endoscopic ultrasound needles market. Furthermore, the report also encompasses a graphical representation of the competitive landscape based on their market initiatives and strategies, product portfolios, and business strengths. Prominent market players profiled in the study report are Medtronic plc; Olympus Corporation; Boston Scientific Corporation; Cook Medical; CONMED Corporation; Medi-Globe GmbH; and ACE Medical Devices Pvt. Ltd.
Frequently Asked Questions:
The market for Endoscopic Ultrasound (EUS) Needles Market is expected to reach US$ 440.4 Mn by 2026.
The Endoscopic Ultrasound (EUS) Needles Market is expected to see significant CAGR growth over the coming years, at 16.4%.
The report is forecasted from 2018-2026.
The base year of this report is 2017.
Medtronic plc; Olympus Corporation; Boston Scientific Corporation; Cook Medical; CONMED Corporation; Medi-Globe GmbH; and ACE Medical Devices Pvt. Ltd. are some of the major players in the global market.
