Endoscopic Ultrasound Needles Market Trends

Growth Drivers

• Rise in Prevalence of Gastrointestinal and Stomach Cancer– Gastric cancer cases increase on account of food habits that change people. Also, increase consumption of spicy foods and more use of medicines for any disease condition. All of these lead to an increase in the prevalence of gastrointestinal and stomach cancer. About 1 in 4 cancer instances worldwide are of the gastrointestinal type, and 1 in 3 of these cases result in death.

• Increase in Geriatric Population – Pancreatic cancer, liver cancer, and hepatobiliary diseases are health issues that are mostly seen in the geriatric population. The global elderly population raised by 4 times from 4.1% in 1900 to 16% in 2019.

• High Use by Physicians – Endoscopic ultrasound needles are highly used by physicians and professionals in the field of gastroenterology and pulmonology, as a result of which physicians are highly driving the growth of this market. Every year more than 6 million upper gastrointestinal endoscopies take place in the U.S.

• Increase Focus of Manufacturers on Fine Needle Biopsy Technology –The import value of biopsy needles in 2021 was USD 33,299,752.

• Rise in Preference for Minimal Invasive Surgeries – The total number of minimally invasive surgeries increased from 133 to 280 i.e., a 111% rise from 2003 to 2019.

Challenges

• High Cost of Endoscopic Ultrasound Needles – The first and foremost challenge that comes in the way of this market is the high cost of endoscopic ultrasound needles. Not everybody has the monetary funds to afford such high-cost products which are expected to hamper the market share in the following times.
• Lack of Skilled Professionals
• Risk of Infections