What Is The Current and Historic Market Size Analysis Of The Steerable Needles Market?
The steerable needles market has seen considerable growth due to a variety of factors.
• The steerable needles market has grown rapidly in recent years. It will rise from $1.61 billion in 2024 to $1.77 billion in 2025, at a CAGR of 10.1%.
The growth is driven by regulatory approvals and standardization, increasing demand for minimally invasive procedures, the rising prevalence of chronic diseases, expanding diagnostic imaging applications, and an aging population.
What Are The Predictions for The Steerable Needles Market in the Coming Years?
The steerable needles market is expected to maintain its strong growth trajectory in upcoming years.
• The steerable needles market is expected to grow to $2.58 billion by 2029, at a CAGR of 9.9%.
Growth is attributed to the integration of artificial intelligence in medical procedures, the expansion of telemedicine and remote surgery, opportunities in emerging markets, integration with imaging technologies, and advancements in materials for better maneuverability. Trends include enhanced robotic-assisted navigation, miniaturized components for flexibility, real-time sensor technology, machine learning for trajectory optimization, and smart materials for self-steering.
Which Drivers Are Accelerating Growth In The Steerable Needles Market?
The anticipated growth in the steerable needles market is fuelled by the rising adoption of minimally invasive procedures. These medical interventions, conducted through tiny incisions or natural body passages, reduce tissue damage and recovery time. A surge in such procedures can be attributed to quicker recovery periods, a lower complication risk, and less postoperative discomfort for patients. Steerable needles play a pivotal role in these procedures, enabling precise navigation to target tissues, increasing precision while reducing collateral damage. For example, the American Society of Plastic Surgeons reported that the count of minimally invasive procedures, like HA fillers, soared to 48.83 million in 2022 from 28.78 million in 2020. Furthermore, non-invasive fat reduction procedures also saw a significant jump from 38.65 million in 2020 to 68.29 million in 2022. As such, the trend towards minimally invasive procedures continues to fuel the steerable needles market's expansion.
What Are The Core Segments Of The Global Steerable Needles Market?
The steerable needles market covered in this report is segmented –
1) By Type: Bevel-Tip Flexible Needles, Symmetric-Tip Needles, Tendon Actuated Tip Needles
2) By Application: Biopsy, Tumor Ablation, Pain Management, Robotic Assisted Surgery, Other Applications
3) By End User: Hospitals, Ambulatory Surgical Centers, Others End Users
Subsegments:
1) By Bevel-Tip Flexible Needles: Single Bevel-Tip Needles, Double Bevel-Tip Needles
2) By Symmetric-Tip Needles: Standard Symmetric-Tip Needles, Curved Symmetric-Tip Needles
3) By Tendon Actuated Tip Needles: Single Tendon Actuated Needles, Dual Tendon Actuated Needles
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What Trends Are Reshaping The Future Of The Steerable Needles Market?
Leading firms in the steerable needles market are focusing on creating novel products like steerable biopsy needles, which can increase the preciseness of tissue sampling, enhance the diagnosis accuracy, and lessen discomfort in patients. These specialized medical needles are engineered to reach and extract tissue samples from specific, often hard-to-access parts of the body. They provide the facility of controlled, targeted alterations during the insertion process. To illustrate, in September 2022, US-based medical device manufacturer, Serpex Medical, gained FDA 510K approval for their product, Compass Steerable Needles - a kind of steerable biopsy needle, specifically designed for precise entry into lung nodules located in the intrapulmonary region. It ensures precise 3D positioning to provide better access to all 18 segments of the lung and reach small lesions outside the airways. With its superior maneuverability, it enables accurate targeting and entry to lesions, and the ability to sample different portions of the tumor, avoiding any undesirable tip deflection.
Who Are the Key Players In The Steerable Needles Market?
Major companies operating in the steerable needles market are:
• Johnson & Johnson
• Medtronic Plc
• Siemens Healthineers AG
• Becton Dickinson and Company
• Koninklijke Philips
• Stryker Corporation
• GE HealthCare Technologies
• Boston Scientific Corporation
• Olympus Corporation
• Terumo Corporation
• Intuitive Surgical Inc.
• Smith & Nephew plc
• Hologic Inc.
• Varian Medical Systems Inc.
• Coloplast A/S
• Cook Medical Incorporated
• Bio-Rad Laboratories Inc.
• Teleflex Incorporated
• KARL STORZ SE & Co KG
• Elekta Instrument AB
• Merit Medical Systems Inc.
• ConMed Corporation
• Penumbra Inc.
• AngioDynamics Inc.
• AprioMed Inc
What Are The Regional Insights Into The Steerable Needles Market?
North America was the largest region in the steerable needles market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the steerable needles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
