Ultrasound Needle Guides Market
Market Overview
The global ultrasound needle guides market in terms of revenue was estimated to be worth $274 million in 2023 and is poised to reach $369 million by 2030, growing at a CAGR of 6.1% from 2023 to 2030.
Needle guides were created to allow the needle to move along a preset track, and it has been hypothesised that lower route variation corresponds to better outcomes. The use of a needle guide entails a one-time purchase of the bracket as well as frequent disinfecting of the needle guide to preserve sterility. A needle guide reduces the number of efforts required to reach a lesion. As a consequence, it is less painful for the patient and can lessen the bleeding that normally occurs following a biopsy. Using a needle guide for biopsies also aids in the battle against infections. Needle guides make interventional procedures easy and clear, allowing them to be easily replicated. Once the probe is aligned with the target, inserting the needle becomes second nature. These advantages will drive the growth of the global market during the forecast period.
Market Dynamics
Drivers: Increasing prevalence of target diseases
Ultrasound needle guides can be used to diagnose and treat disorders such as cancer and cardiovascular disease. The prevalence of these target illnesses is increasing globally due to reasons such as an ageing population and an increase in sedentary lifestyles.
In 2020, around 9.3% (727 million) of the global population was 65 or older; this number is predicted to climb to almost 16% (1.5 billion) by 2050. Because to decreasing mortality and a 20-year increase in average lifetime throughout the second half of the twentieth century, the world population's median age is growing. According to the CDC, the global average lifespan is expected to increase by 10 years by 2050. As a result of this trend, public health systems are increasingly stressed, as is the need for improved sickness detection and treatment.
Restraints: Risk of infections associated with use of aspiration and biopsy needles
Core-needle and fine-needle biopsy needle methods let radiologists and surgeons examine anomalies at a specific spot. However, because these procedures include cuts and incisions for obtaining tissue samples, patients might become infected. Furthermore, aspiration and biopsy needles are frequently reused, increasing the risk of infection during these operations. Although the reuse of some needles is not advocated by healthcare authorities or product makers, it is nonetheless common, particularly in impoverished nations.
Opportunities: Growth opportunities in emerging economies
An increase in per capita income and healthcare spending in developing Asia-Pacific and Latin America markets has increased patient access to advanced healthcare treatments. However, some countries in APAC and Latin America are highly dependent on purchasing medical devices (including ultrasound devices and accessories) from developed countries such as the United States, Japan, Germany and Ireland. This represents significant growth opportunities for players operating in the Ultrasonic Needle Guides market. According to the World Bank, Asia represents more than half of the world's population. Authorities in various developing countries in this region are planning to establish new models of health care delivery, such as day care centres, single-specialty hospitals and long-term care centers, to serve larger segments of the population. important. Many private companies are also taking steps to meet the needs of modern and well-equipped public health facilities in these countries. In China, the private hospital sector is expected to maintain double-digit growth over the next few years due to regulatory changes, market demand and capital investment. In the private hospital segment, specialty hospitals are experiencing strong growth.
Challenges: Limited number of skilled medical professionals
Ultrasound procedures require trained professionals. However, globally there is a shortage of these physicians and surgeons. According to the Fourth Global Forum on Human Resources for Health, organized by WHO in 2017, the global shortage of health workers is expected to reach 40 million by 2030. The most acute shortage is expected to be in the regions of Southeast Asia and Africa. .
Estimates from the Association of American Medical Colleges (AAMC) in 2017 indicate a projected shortfall of nearly 105,000 physicians by 2030 in the United States. The expected shortage of physicians has increased in all specialties. For primary care, a shortage of 7,300 to 43,100 physicians is expected. Non-primary care specialties, including medical, surgical and other specialties, are expected to experience a shortage of 33,500 to 61,800 physicians.
Based on type, the disposable needle guides segment of ultrasound needle guides market, will grow at the highest CAGR during the forecast period
Based on type, the market is segmented into reusable needle guides and disposable needle guides. The demand for disposable needle guides is expected to increase due to their advantages over reusable needle guides. A disposable needle guide is made of a single piece of medical grade plastic. However, high cost of treatment and diagnosis along with lack of awareness is restraining the growth of disposable needle guide market.
Based on application, the tissue biopsy segment of ultrasound needle guides market, will grow at the highest CAGR during the forecast period
Based on application, the market is segmented into tissue biopsy, fluid aspiration, vascular access procedures, nerve block and regional anesthesia, and other applications. the tissue biopsies segment will grow at the highest CAGR during the forecast period, as biopsies are primarily used to diagnose cancer, but they can help identify other conditions, such as infections and inflammatory disorders and autoimmune.
Based on end user, the hospitals and clinics segment of ultrasound needle guides market, will grow at the highest CAGR during the forecast period
Based on end user, the market is split into hospitals and clinics, ambulatory surgical centres, diagnostic imaging centres, and other end users. The hospitals category will grow at the quickest CAGR throughout the forecast period. The increasing number of hospitals in important markets, as well as the rising usage of minimally invasive diagnostic and surgical procedures (such as biopsies, endoscopic procedures, and hysteroscopy) at these facilities, may all be attributed to the segment's growth.
North America is expected to account for the largest share of the ultrasound needle guides market in 2021
North America is expected to hold the largest share of the global market in 2021. Its global market dominance is primarily due to the region's early commercialization of these devices, as well as significant healthcare expenditure in the US, which includes private investments and funding for product development, as well as the increasing prevalence of target diseases such as breast cancer, CVD, kidney stones, and arthritis.
The prominent players in the ultrasound needle guides market are Roper Technologies (CIVCO Medical Solutions) (US), Aspen Surgical (US), FUJIFILM Holdings Corporation (Japan), Siemens Healthineers AG (Germany), Becton, Dickinson and Company (US), Argon Medical Devices (US), Hologic, Inc. (US), Remington Medical Inc. (US), Geotek Medical (Turkey), InnoFine (China), KOELIS (France), Rocket Medical (China), BIRR (Netherlands), IZI Medical (US), Sheathing Technologies, Inc. (US), weLLgo Medical Products GmbH (Germany), and Advance Medical Designs, Inc. (US).
The study categorizes the ultrasound needle guides market into following segments and sub-segments:
By Type
- Disposable Needle Guides
- Reusable Needle Guides
By Application
- Tissue Biopsy
- Fluid Aspiration
- Vascular Access Procedures,
- Nerve Block and Regional Anesthesia
- Other Applications
By End User
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Diagnostic ImagigCenters
- Other End Users
By region
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
Recent Developments
- Audax Private Equity invested in Aspen Surgical in April 2022. This investment has enabled Audax to assist Aspen in its pursuit of near-term organic growth and larger-scale acquisition prospects in order to develop internationally as a leading provider of single-use surgical products to acute care and surgical settings.
- Aspen Surgical purchased Bluemed Medical Supplies in March 2021. Aspen's extensive range of surgical disposables and patient and staff safety products supplied in the acute care sector has been bolstered by the purchase of BlueMed.
- In November 2020, Aspen Surgical will acquire Protek Medical Products. The acquisition of Protek expands Aspen's comprehensive portfolio of medical and patient & staff safety solutions provided in hospitals and surgical centres.