Global Endoscopic Ultrasound Needles Market Size

Endoscopic Ultrasound Needles Market Analysis

The Global Endoscopic Ultrasound Needles Market size is estimated at USD 152.06 million in 2024, and is expected to reach USD 209.23 million by 2029, growing at a CAGR of 6.59% during the forecast period (2024-2029).

The COVID-19 pandemic impacted the market significantly, and the market faced considerable losses during the early pandemic. Long lockdown restrictions and restrictions to control the spread of the virus hampered the market's growth. For instance, according to an article published by the Journal of Clinical Pathology in January 2021, there has been a significant impact on the provision of small biopsy procedures due to the COVID-19 pandemic in Northern Ireland. However, as the pandemic has subsided currently, normal biopsy procedures are being carried out as usual; hence the studied market is expected to have stable growth during the forecast period of the study.

Endoscopic ultrasound needles are used for both therapeutic and diagnostic purposes. The major growth driver in the endoscopic ultrasound needles market is the increasing geriatric population and the growing prevalence of gastrointestinal cancers. There has been a rising prevalence of chronic diseases, like pancreatic, liver, hepatobiliary, lung, and gastrointestinal cancers, with patients increasingly preferring minimally invasive surgical procedures. Growing technological advancements related to endoscopic ultrasound needles are likely to fuel the expansion of the endoscopic ultrasound needles market in the coming years.

According to an article published by PubMed in June 2021, when 800 patients were randomized for 18 months, 771 were analyzed to check the benefit of rapid on-site evaluation (ROSE) on the diagnostic accuracy of endoscopic ultrasound-guided fine-needle biopsy (EUS-FNB). Among the 385 with rapid on-site evaluation (ROSE) analysis, a 96.4% accuracy result was obtained. The remaining 386 without ROSE was 97.4%, with an absolute risk difference of 1.0%. The study concluded that endoscopic ultrasound-guided fine-needle biopsy (EUS-FNB) demonstrated high accuracy in solid pancreatic lesions (SPLs). Solid Pancreatic Lesions primarily include adenocarcinoma, neuroendocrine tumors, cystic pancreatic neoplasms with solid components, solid pseudopapillary tumor, pancreatoblastoma, pancreatic lymphoma, and pancreatic metastasis. Hence, ongoing research and studies leading to new research and developments in the cancer segment inspire key market players to take strategic steps that can propel the growth of the studied market.

The rising prevalence of cancer is a major factor driving the growth of the market. For instance, according to the data published by ICMR-National Centre for Disease Informatics and Research in 2021, Leukemia accounted for nearly half of all childhood cancers in both genders in the 0-14 years age group in India; it had a prevalence of 46.4% in boys and 44.3% in girls in 2021. The other common childhood cancer in boys was found to be lymphoma (16.4%), while in girls, it was a malignant bone tumor (8.9%).

Furthermore, increasing product launches by market players in the region are also expected to enhance market growth. For instance, in October 2021, Micro-Tech Endoscopy launched an enhanced version of the company's endoscopic ultrasound needles named Areus FNA Needle and Trident FNB Needle.

Thus, due to the aforementioned factors, such as the rising prevalence of cancer, growing research studies for cancer diagnosis and treatment, and increasing product launches by key market players, the studied market is expected to experience growth during the forecast period of the study. However, the lack of professionals with expertise in operating with endoscopic ultrasound needles is restraining the market's growth.