Ultrasound Needle Guides Market by Type (Reusable, Disposable), Application (Tissue Biopsy, Fluid Aspiration, Nerve Block, Regional Anesthesia, Vascular Access), End User (Hospitals, Clinics, ASC, Diagnostic Imaging Centers) & Region - Global Forecasts to 2027
The global ultrasound needle guides market in terms of revenue was estimated to be worth $274 million in 2022 and is poised to reach $369 million by 2027, growing at a CAGR of 6.1% from 2022 to 2027. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market.
Needle guides were developed to allow passage of the needle via a predetermined track, and it has been hypothesized that decreased path deviation translates to improved outcomes. Employment of a needle guide represents a one-time procurement cost of the bracket and regular disinfection of the needle guide to maintain sterility. A needle guide allows for fewer attempts to reach a lesion. As a result, it is less traumatic for the patient and can reduce the bleeding usually occurring in the aftermath of a biopsy. Using a needle guide for biopsies also helps fight infections. Needle guides make interventional procedures easily reproducible by making them simple and straightforward. Once the probe is aligned with the target, introducing the needle becomes effortless. These advantages will drive the growth of the global market during the forecast period.
Global Ultrasound Needle Guides Market Trends
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Ultrasound Needle Guides Market Dynamics
Drivers: Increasing prevalence of target diseases
Ultrasound needle guides have applications in the diagnosis and treatment of diseases such as cancer and CVD. The prevalence of these target diseases is increasing across the globe due to factors such as the rising geriatric population and the increasing adoption of sedentary lifestyles.
In 2020, nearly 9.3% (727 million) of the global population was aged 65 years and above; this figure is projected to reach nearly 16% (1.5 billion) by 2050. The median age of the world's population is increasing due to a decline in mortality and a 20-year increase in the average lifespan during the second half of the 20th century. According to the CDC, by 2050, the average lifespan is expected to increase by 10 years globally. Owing to this trend, there is growing pressure on public health systems and an increasing need for the effective diagnosis and treatment of diseases.
Restraints: Risk of infections associated with use of aspiration and biopsy needles
Biopsy needle procedures, such as core-needle and fine-needle procedures, assist radiologists and surgeons in examining abnormalities at a particular site. However, patients can contract infections during these procedures as they involve cuts and incisions for removing tissue samples. Also, in several cases, aspiration and biopsy needles are reused, which further increases the risk of infection during these procedures. Even though the reuse of some needles is not recommended by healthcare authorities as well as product manufacturers, this practice is still prevalent, especially in developing countries.
Opportunities: Growth opportunities in emerging economies
An increase in the per capita income and healthcare expenses in developing markets across APAC and Latin America has increased patient access to advanced healthcare treatments. However, some countries in the APAC and Latin America rely heavily on purchasing medical devices (including ultrasound devices and accessories) from developed countries such as the US, Japan, Germany, and Ireland. This represents significant growth opportunities for players operating in the ultrasound needle guides market. According to the World Bank, Asia accounts for more than half of the world’s population. Authorities in various developing countries in this region are planning to establish new healthcare delivery models, such as day-care centers, single-specialty hospitals, and long-term care centers, to serve larger population sections. Many private enterprises are also taking steps to cater to the needs of modern and well-equipped state-run healthcare facilities in these countries. In China, the private hospital sector is expected to maintain double-digit growth over the coming years owing to regulatory changes, market demand, and capital investments. In the private hospitals segment, specialty hospitals are witnessing high growth.
Challenges: Limited number of skilled medical professionals
Ultrasound procedures require skilled professionals. However, globally, there is a shortage of these physicians and surgeons. According to the Fourth Global Forum on Human Resources for Health, conducted by the WHO in 2017, the global shortage of healthcare workers is expected to rise to 40 million by 2030. The most acute shortage is expected to be in the Southeast Asian and African regions.
Estimates from the Association of American Medical Colleges (AAMC) in 2017 indicate a projected shortfall of nearly 105,000 physicians by 2030 in the US. The projected shortage of physicians has increased across all specialties. For primary care, a shortage of between 7,300 and 43,100 physicians is expected. Non-primary care specialties—including medical, surgical, and other specialties—are expected to experience a shortfall of between 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 grow due to their benefits over reusable needle guides. A disposable needle guide is made of a single piece of medical-grade plastic. However, the high cost of treatment and diagnosis, as well as the lack of awareness, are hindering the growth of the disposable needle guides 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 biopsy segment will grow at the highest CAGR during the forecast period as biopsies are majorly used to diagnose cancer, but they can help identify other conditions, such as infections and inflammatory and autoimmune disorders.
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 segmented into hospitals and clinics, ambulatory surgical centers, diagnostic imaging centers, and other end users. In 2021, the hospitals segment will grow at the highest CAGR during the forecast period. The growth of hospitals and clinics segment can be attributed to the growing number of hospitals across major markets and the rising adoption of minimally invasive diagnostic and surgical procedures (such as biopsies, endoscopic procedures, and hysteroscopy) in these facilities
North America is expected to account for the largest share of the ultrasound needle guides market in 2021
North America is expected to account for the largest share of the global market in 2021. Its dominance in the global market is mainly attributed to the large share of North America in the global market is attributed to the early commercialization of these devices in the region, and the significant healthcare expenditure in the US, include private investments and funding for product development and the increasing prevalence of target diseases such as breast cancer, CVD, kidney stones, and arthritis.
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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).
Ultrasound Needle Guides Market Report Scope:
Report Metric |
Details |
Market size available for years |
2020–2027 |
Base year considered |
2021 |
Forecast period |
2022–2027 |
Forecast units |
Value (USD million) |
Segments covered |
By type, application, end-user |
Geographies covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Companies covered |
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 Imagig Centers
- 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
- In April 2022, Audax Private Equity has invested in Aspen Surgical. This investment has helped Audax to support Aspen as it pursues imminent organic growth and larger-scale acquisition opportunities to expand globally as a leading provider of single-use surgical products to acute care and surgical settings.
- In March 2021, Aspen Surgical has acquired Bluemed Medical Supplies. The acquisition of BlueMed has strengthened Aspen’s broad portfolio of surgical disposables and patient and staff safety products sold in the acute care market.
- In November 2020, Aspen Surgical has acquired Protek Medical Products. The acquisition of Protek has strengthened Aspen’s broad portfolio of medical and patient & staff safety products sold in the hospitals and surgery centers markets.
Frequently Asked Questions (FAQs):
What is the projected market value of the global ultrasound needle guides market?
The global market of ultrasound needle guides is projected to reach USD 369 million.
What is the estimated growth rate (CAGR) of the global ultrasound needle guides market for the next five years?
The global ultrasound needle guides market is projected to grow at a Compound Annual Growth Rate (CAGR) of 6.1% from 2022 to 2027.
What are the major revenue pockets in the ultrasound needle guides market currently?
North America is expected to account for the largest share of the global market in 2021. Its dominance in the global market is mainly attributed to the large share of North America in the global market is attributed to the early commercialization of these devices in the region, and the significant healthcare expenditure in the US, include private investments and funding for product development and the increasing prevalence of target diseases such as breast cancer, CVD, kidney stones, and arthritis.
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This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.
Secondary Research
This research study involved the usage of comprehensive secondary sources; directories; databases such as Bloomberg Business, Factiva, and Dun & Bradstreet; white papers; annual reports; company house documents; investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for an extensive, technical, market-oriented, and commercial study of the ultrasound needle guides market. It was also used to obtain important information about the key players, market classification and segmentation according to industry trends to the bottommost level, and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.
Primary Research
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side and demand side are detailed below.
A breakdown of the primary respondents is provided below:
Breakdown of Primary Interviews: Supply-Side Participants - By Company Type, Designation, and Region
Note 1: C-level primaries include CEOs, COOs, CTOs, and VPs.
Note 2: Other primaries include sales managers, marketing managers, and product managers.
Note 3: Companies are classified into tiers based on their total revenue. As of 2020: Tier 1 = >USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, and Tier 3 = <USD 500 million.
To know about the assumptions considered for the study, download the pdf brochure
Breakdown of Primary Interviews: Demand-Side Participants by End-User, Designation, and Region
Note: Others include department heads, research scientists, and professors.
Market Size Estimation
The total size of the ultrasound needle guides market was arrived at after data triangulation from three different approaches, as mentioned below. After each approach, the weighted average of all approaches was taken based on the level of assumptions used in each approach.
Data Triangulation
After arriving at the market size, the total market was divided into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments, data triangulation and market breakdown procedures were employed, wherever applicable. The following figure shows the market validation, source structure, and data triangulation methodology implemented in this report’s market engineering process.
Objectives of the Study
- To describe, analyze, and forecast the ultrasound needle guides market by type, application, end user, and region
- To describe and forecast the global market for key regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
- To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the global market
- To strategically analyze the ecosystem, regulations, patenting trend, value chain, supply chain, Porter’s five forces, technologies, key stakeholders and buying criteria, and prices pertaining to the market under study
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for market players
- To profile key players and comprehensively analyze their market shares and core competencies in the global market
- To analyze competitive developments such as investments, acquisitions, and R&D activities in the global market
Available customizations
With the given market data, MarketsandMarkets offers customizations as per your company’s specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
Geographic Analysis
- Further breakdown of the RoE market into Austria, Finland, and others
- Further breakdown of the Latin America market into Argentina, Colombia, Chile, and others
Competitive Landscape Assessment
- Market share analysis for the North America and Europe region, which provides market shares of the top 3–5 key players in the global market
- Competitive leadership mapping for established players in the US
Growth opportunities and latent adjacency in Ultrasound Needle Guides Market