Endoscopic ultrasound (EUS) is a minimally invasive procedure that uses sound waves to create images of the gastrointestinal tract and surrounding organs. EUS needles are fine, hollow tubes that are used to collect tissue samples or fluids from these organs.
The global Endoscopic Ultrasound Needles Market Growth, 2023-2028 is expected to grow at a CAGR of 4.6% from 2022 to 2028. This growth is being driven by a number of factors, including the rising prevalence of cancer, the increasing number of diseases that require EUS procedures, and the growing geriatric population.
Market Drivers
• Rising Prevalence of Cancer: Cancer is one of the leading causes of death worldwide. EUS needles are used to collect tissue samples from organs that are at risk for cancer, such as the pancreas, the liver, and the lymph nodes. This helps to improve the accuracy of cancer diagnosis and staging.
• Increasing Number of Diseases that Require EUS Procedures: EUS needles are also used to treat a number of diseases, including pancreatitis, liver disease, and gastrointestinal bleeding. As the number of people who are diagnosed with these diseases increases, the demand for EUS needles is also expected to increase.
• Growing Geriatric Population: The global population is aging, and this is leading to an increase in the number of people who are at risk for EUS procedures. EUS needles are used to diagnose and treat a number of diseases that are more common in older adults, such as cancer, pancreatitis, and liver disease.
Market Opportunities
• Development of Novel EUS Needles: There are a number of companies that are developing novel EUS needles. These needles are designed to improve the accuracy of cancer diagnosis and staging, and to make EUS procedures more comfortable for patients.
• Growing Demand for EUS Needles in Emerging Markets: The demand for EUS needles is growing in emerging markets. This growth is being driven by the increasing prevalence of cancer and gastrointestinal disorders in these markets.
Endoscopic Ultrasound Needles Market: Regional Insights
• The global endoscopic ultrasound needles market is expected to grow at a CAGR of 4.6% from 2022 to 2028. The market is segmented by region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
• North America is the largest market for endoscopic ultrasound needles, accounting for a share of over 35% in 2022. This is due to the high prevalence of cancer and gastrointestinal disorders in the region, as well as the availability of advanced healthcare facilities. The United States is the leading country in the North American market, followed by Canada.
• Europe is the second-largest market for endoscopic ultrasound needles, accounting for a share of over 25% in 2022. This is due to the aging population in the region, as well as the increasing incidence of cancer and gastrointestinal disorders. Germany, France, and Italy are the leading countries in the European market.