The major reasons the aspiration and biopsy needles market is blossoming are the rising incidence of cancer, growing demand for minimally invasive diagnostic procedures, increasing healthcare spending, and surging awareness about cancer and its prevention and treatment. Hence, the industry is predicted to expand at a 7.2% CAGR between 2020 and 2030 (forecast period), to reach $1,717.9 million by 2030 from $801.5 million in 2019. In a biopsy, a piece of a solid tissue is taken out of the body for examination, while aspiration involves the sampling of bodily fluids.
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Fine-needle and core-needle are the bifurcations of the aspiration and biopsy needles market on the basis of type, of which the core-needle bifurcation dominated the industry during 2014–2019 (forecast period). Benign lesions can be easily diagnosed via core-needle biopsies, which can also be used to differentiate between invasive malignant and in situ tumors in the breast. Due to the increasing cases of breast cancer, the volume of core-needle biopsies is rising, which would be instrumental in propelling this bifurcation at the higher CAGR during the forecast period.
Around the world, people’s awareness about cancer, how it is caused, and how it can be treated or managed is increasing, due to a rising number of conferences and seminars being organized by private companies and government bodies. The final step in cancer diagnosis is usually an aspiration or biopsy, because this helps ascertain whether the mass suspected in hematological studies and seen in imaging scans is a tumor or something else. Moreover, biopsies tell doctors whether the tumor will spread to other parts (metastasize) or is harmless.