A minimally invasive surgical technique called endoscopic ultrasonography, or EUS, uses both visual and ultrasonic imaging to examine the abdominal and thoracic regions. The endoscope's accessory channels are utilised to collect targeted gastrointestinal portion samples using endoscopic ultrasonography needles, a type of fine tip needle.
According to SPER market research, ‘Endoscopic Ultrasound Needles Market Size- By Product , By Application , By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Endoscopic Ultrasound Needles Market is predicted to reach USD 0.29 billion by 2033 with a CAGR of 4.62%.
One of the key factors driving the growth and demand of the endoscopic ultrasound needles market is the rising incidence of diseases like pancreatic, liver, and hepatobiliary, lung, and gastrointestinal malignancies. Over the course of the forecast period, the growing elderly population and the rising incidence of gastrointestinal cancers are also driving growth in the global market. Additionally contributing to the market's expansion is the growing usage of biopsy and aspiration needles in the diagnosis of lung cancer and pleural effusion. Similarly, throughout the previously mentioned projected period, the market expansion is also being supported by the increasing use to diagnose tumours and inflammatory lesions in and around the gastrointestinal system. The numerous cutting-edge producers are concentrating on developing sophisticated needle biopsy technology, which, when combined with the endoscopic ultrasound needles industry's rapid technological advancements, will accelerate the market's growth and present substantial growth prospects over the course of the forecast period.
On the other hand, the absence of experts with endoscopic ultrasound needle operating experience could hinder the market's expansion. However, the market's expansion will be constrained by the high expense of endoscopic ultrasound needles and the strict regulations enforced by multiple government agencies. Also, the lack of professionals with experience operating endoscopic ultrasound needles may prevent the market from growing. The high cost of endoscopic ultrasound needles and the stringent laws that are enforced by numerous government agencies, however, will limit the market's growth.
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Impact of COVID-19 on Endoscopic Ultrasound Needles Market
The COVID-19 pandemic had a devastating effect on the market, and it saw large losses during the early epidemic. Lockdown procedures and other attempts to stem the virus's spread hindered the market's growth. Overall market impact was substantial due to the sudden breakout of the COVID-19 pandemic. During the lockdown, endoscopic procedures in the UK fell from pre-COVID levels, which only rebounded to a few quantities ten weeks later. There has been a decline in the rate of endoscopic cancer detection worldwide. The market under investigation is expected to grow steadily over the study's predicted term, however, because biopsy procedures are proceeding as usual now that the pandemic has passed.
Endoscopic Ultrasound Needles Market Key Players:
Geographically, the market for endoscopic ultrasound needles has been dominated by North America. This is because major market players are present in the region and because pulmonology, oncology, and gastroenterology in Canada and the US are using increasingly sophisticated diagnostic procedures. Asia Pacific area is also growing the endoscopic ultrasound needles market as there have been tremendous increase in healthcare facilities in India and Japan. Additionally, some of the market key players are Olympus Corporation, Boston Scientific Corporation, Conmed Corporation, Cook Group-Incorporated, Medi-Globe Corporation, Others.
Endoscopic Ultrasound Needles Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecast for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Product: Based on product, Endoscopic Ultrasound Needles Market is segmented as: Aspiration needles and Biopsy needles.
By Application: Based on application, Endoscopic Ultrasound Needles Market is segmented as: Bronchial EUS Needles and Enteral EUS Needles.
By End User: Based on the End User, Endoscopic Ultrasound Needles Market is segmented as; Hospitals, Ambulatory Surgical Centres and others.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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Endoscopic Ultrasound Needles Market Future Outlook
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