The Steerable Needle Market Size is valued at 1.02 Bn in 2022 and is predicted to reach 1.72 Bn by the year 2031 at a 6.1 % CAGR during the forecast period for 2023-2031.
The steerable needle market has been experiencing significant growth and innovation in recent years. Steerable needles are advanced medical devices that enhance precision and control during minimally invasive procedures. They enable physicians to navigate complex anatomical structures and reach target sites more accurately, improving procedural outcomes and patient experiences. Furthermore, the steerable needle market has been growing steadily, propelled by the increasing adoption of minimally invasive procedures and the demand for improved navigational capabilities in medical interventions.
The market is expected to grow as the advantages of steerable needles become more widely recognized and new applications are discovered. Steerable needles are one example of advanced medical equipment that increases control and precision during minimally invasive procedures. Additionally, robotics and image-guiding technology advancements have raised the demand for steerable needles. The market is driven by the enhanced control and mastery of robotic-assisted systems that allow for precise real-time steering of steerable needles.
Some major key players in the Steerable Needle Market:
- Elekta Instrument AB,
- Boston Scientific
- Cook Medical
- Olympus Corporation
- Terumo Corporation
- Merit Medical Systems
- Johnson & Johnson
- Braun Melsungen AG
- Stryker Corporation
- Smith & Nephew
- AngioDynamics Inc.
- Teleflex Incorporated
- Argon Medical Devices Inc.
- BD (Becton, Dickinson and Company)
- Cardinal Health Inc.
- Teleflex Medical OEM
- ConMed Corporation
- Mindray Medical International Limited
- Hologic Inc.
The steerable needle market is segmented based on product, application, and end users. Based on the product, the steerable needle market is segmented into bevel-tip flexible, symmetric-tip, and tendon-actuated needles. By application, the market is segmented into biopsy, tumor ablation, pain management, neurosurgery, cardiac interventions, interventional radiology, and robotic-assisted procedures. By End-Users, the steerable needle market is segmented into hospitals, ambulatory surgery centers and specialty clinics.
Based On The Product, The Symmetric Tip Needles Segment Is A Major Contributor To The Steerable Needle Market
The symmetric tip needles category will hold a major share of the global Steerable Needle market 2022. The use of symmetric tip needles in steerable needle systems can lead to improved patient and physician satisfaction. The increased accuracy and control provided by symmetric tip needles result in more successful procedures and better patient outcomes.
Physicians appreciate the ability to navigate complex anatomical structures more effectively, enhancing procedural confidence and satisfaction. Overall, the rising demand for symmetric tip needles in the steerable needle market is driven by their ability to provide enhanced precision, reduced tissue damage, versatility in applications, and alignment with the growing trend towards minimally invasive procedures.
The Biopsy Segment Witnessed Growth At A Rapid Rate
The biopsy segment is projected to grow rapidly in the global Steerable Needle market. Biopsy procedures play a significant role in the steerable needle market, as steerable needles offer several advantages for accurate and targeted tissue sampling. Steerable needle biopsies often incorporate real-time imaging guidance, such as ultrasound, CT (Computed Tomography), or MRI (Magnetic Resonance Imaging).
The integration of imaging modalities with steerable needles allows physicians to visualize the needle's position in real-time, ensuring accurate targeting of the biopsy site. Real-time imaging guidance enhances the safety and efficacy of steerable needle biopsies.
The North America Steerable Needle Market Holds A Significant Revenue Share In The Region
The North America Steerable Needle market is expected to register the highest market share North America has stringent regulatory frameworks, such as the (FDA) in the United States and Health Canada, ensuring safety and efficacy standards for medical devices. Steerable needle manufacturers must meet these regulatory requirements to enter and sustain the North American market, providing confidence to healthcare providers and patients. In addition, the Europe region is anticipated to grow rapidly in the global Steerable Needle market.
In Europe, the market for steerable needles has been expanding consistently. The area's thriving healthcare industry, which includes hospitals, clinics, and research facilities, fuels the demand for cutting-edge medical gadgets. Due to the tremendously growing popularity of minimally invasive surgery, the industry is anticipated to grow even more.
Steerable Needle Market Report Scope:
Market size value in 2022
USD 1.02 Bn
Revenue forecast in 2031
USD 1.72 Bn
Growth rate CAGR
CAGR of 6.1% from 2023 to 2031
Representation of revenue in US$ Bn and CAGR from 2023 to 2031
2019 to 2022
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends
By Product, By Application, By End-User
North America; Europe; Asia Pacific; Latin America; Middle East & Africa
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia
AprioMed, Elekta Instrument AB, Medtronic, Boston Scientific, Cook Medical, Olympus Corporation, Terumo Corporation, Merit Medical Systems, Vygon, Johnson & Johnson, B. Braun Melsungen AG, Stryker Corporation, Smith & Nephew, AngioDynamics Inc., Teleflex Incorporated, Argon Medical Devices Inc., BD (Becton, Dickinson and Company), Cardinal Health Inc., Teleflex Medical OEM, ConMed Corporation, Mindray Medical International Limited, Hologic Inc.
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