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Steerable Needle Market

Steerable Needle Market Size, Share & Trends Analysis Report By Product (Bevel-Tip Flexible, Symmetric-Tip, And Tendon-Actuated Needles), By Application, By End-User (Hospitals, Ambulatory Surgery Centers And Speciality Clinics), By Region, And By Segment Forecasts, 2023-2031

Report ID : 1983 | Published : 2023-08-21 | Pages: 180 | Format: PDF/EXCEL

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.

Steerable Needle Market

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. 

Competitive Landscape:

Some major key players in the Steerable Needle Market:

  • AprioMed
  • Elekta Instrument AB,
  • Medtronic
  • Boston Scientific
  • Cook Medical
  • Olympus Corporation
  • Terumo Corporation
  • Merit Medical Systems
  • Vygon
  • 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. 

Market Segmentation: 

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:

Report Attribute

Specifications

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

Quantitative units

Representation of revenue in US$ Bn and CAGR from 2023 to 2031

Historic Year

2019 to 2022

Forecast Year

2023-2031

Report coverage

The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends

Segments covered

By Product, By Application, By End-User

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

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

Competitive Landscape

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.

Customization scope

Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape.

Pricing and available payment methods

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Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Steerable Needle Market Snapshot

Chapter 4. Global Steerable Needle Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis of Metaverse Industry
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. COVID-19 Impact on Metaverse Industry

Chapter 5. Market Segmentation 1: By Product Estimates & Trend Analysis
5.1. By Product & Market Share, 2019-2031
5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2022 to 2031 for the following By Product:

5.2.1. Bevel-Tip Flexible Needles
5.2.2. Symmetric-Tip Needles
5.2.3. Tendonactuated Tips

Chapter 6. Market Segmentation 2: By Application Estimates & Trend Analysis
6.1. By Product & Market Share, 2019-2031
6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2022 to 2031 for the following By Application:

6.2.1. Biopsy
6.2.2. Tumor Ablation
6.2.3. Pain Management
6.2.4. Neurosurgery
6.2.5. Cardiac Interventions
6.2.6. Interventional Radiology
6.2.7. Robotic-Assisted Procedures

Chapter 7. Market Segmentation 3: By End User Estimates & Trend Analysis
7.1. By Product & Market Share, 2019-2031
7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2022 to 2031 for the following By End User:

7.2.1.1. Hospitals
7.2.1.2. Ambulatory Surgical Centers
7.2.1.3. Specialty Clinics

Chapter 8. Steerable Needle Market Segmentation 4: Regional Estimates & Trend Analysis

8.1. North America

8.1.1. North America Steerable Needle Market revenue (US$ Million) estimates and forecasts By Product, 2019-2031
8.1.2. North America Steerable Needle Market revenue (US$ Million) estimates and forecasts By Application, 2019-2031
8.1.3. North America Steerable Needle Market revenue (US$ Million) estimates and forecasts By End User, 2019-2031
8.1.4. North America Steerable Needle Market revenue (US$ Million) estimates and forecasts by country, 2019-2031

8.1.4.1. U.S.
8.1.4.2. Canada

8.2. Europe

8.2.1. Europe Steerable Needle Market revenue (US$ Million) by By Product, 2019-2031
8.2.2. Europe Steerable Needle Market revenue (US$ Million) estimates and forecasts By Application, 2019-2031
8.2.3. Europe Steerable Needle Market revenue (US$ Million) estimates and forecasts By End User, 2019-2031
8.2.4. Europe Steerable Needle Market revenue (US$ Million) by country, 2019-2031

8.2.4.1. Germany
8.2.4.2. Poland
8.2.4.3. France
8.2.4.4. Italy
8.2.4.5. Spain
8.2.4.6. UK
8.2.4.7. Rest of Europe

8.3. Asia Pacific

8.3.1. Asia Pacific Steerable Needle Market revenue (US$ Million) by By Product, 2019-2031
8.3.2. Asia Pacific Steerable Needle Market revenue (US$ Million) estimates and forecasts By Application, 2019-2031
8.3.3. Asia Pacific Steerable Needle Market revenue (US$ Million) estimates and forecasts By End User, 2019-2031
8.3.4. Asia Pacific Steerable Needle Market revenue (US$ Million) by country, 2019-2031

8.3.4.1. China
8.3.4.2. India
8.3.4.3. Japan
8.3.4.4. Australia
8.3.4.5. Rest of Asia Pacific


8.4. Latin America

8.4.1. Latin America Steerable Needle Market revenue (US$ Million) by By Product, 2019-2031
8.4.2. Latin America Steerable Needle Market revenue (US$ Million) estimates and forecasts By Application, 2019-2031
8.4.3. Latin America Steerable Needle Market revenue (US$ Million) estimates and forecasts By End User, 2019-2031
8.4.4. Latin America Steerable Needle Market revenue (US$ Million) by country, (US$ Million) 2019-2031

8.4.4.1. Brazil
8.4.4.2. Rest of Latin America

8.5. Middle East & Africa

8.5.1. Middle East & Africa Steerable Needle Market revenue (US$ Million) by By Product, (US$ Million)
8.5.2. Middle East & Africa Steerable Needle Market revenue (US$ Million) estimates and forecasts By Application , 2019-2031
8.5.3. Middle East & Africa Steerable Needle Market revenue (US$ Million) estimates and forecasts By End User, 2019-2031
8.5.4. Middle East & Africa Steerable Needle Market revenue (US$ Million) by country, (US$ Million) 2019-2031

8.5.4.1. South Africa
8.5.4.2. GCC Countries
8.5.4.3. Rest of MEA

Chapter 9. Competitive Landscape

9.1. Major Mergers and Acquisitions/Strategic Alliances

9.2. Company Profiles


9.2.1. AprioMed
9.2.2. Elekta Instrument AB,
9.2.3. Medtronic
9.2.4. Boston Scientific
9.2.5. Cook Medical
9.2.6. Olympus Corporation
9.2.7. Terumo Corporation
9.2.8. Merit Medical Systems
9.2.9. Vygon
9.2.10. Johnson & Johnson
9.2.11. B. Braun Melsungen AG
9.2.12. Stryker Corporation
9.2.13. Smith & Nephew
9.2.14. AngioDynamics Inc.
9.2.15. Teleflex Incorporated
9.2.16. Argon Medical Devices Inc.
9.2.17. BD (Becton, Dickinson and Company)
9.2.18. Cardinal Health Inc.
9.2.19. Teleflex Medical OEM
9.2.20. ConMed Corporation
9.2.21. Mindray Medical International Limited
9.2.22. Hologic Inc.

Segmentation of Steerable Needle Market-

Steerable Needle Market By Product-

  • Bevel-Tip flexible Needles
  • Symmetric-Tip Needles
  • Tendon-actuated Needles

Steerable Needle Market

Steerable Needle Market By Application-

  • Biopsy
  • Tumor Ablation
  • Pain Management
  • Neurosurgery
  • Cardiac Interventions
  • Interventional Radiology
  • Robotic-Assisted Procedures

Steerable Needle Market By End Users

  • Hospitals
  • Ambulatory Surgery Centers
  • Specialty Clinics

Steerable Needle Market By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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Frequently Asked Questions

How big is the Steerable Needle Market?

Steerable Needle Market expected to grow at a 6.1 % CAGR during the forecast period for 2023-2031.

AprioMed, Elekta Instrument AB, Medtronic, Boston Scientific, Cook Medical, Olympus Corporation, Terumo Corporation, Merit Medical Systems, Vygon, Joh

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