Top Growth Trends in the Steerable Needles Market: Key Insights and Opportunities for 2025-2034
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How has the steerable needles market grown over the years?
The market size of steerable needles has witnessed a swift expansion in the past few years. The estimated growth projects an increase from $1.61 billion in 2024 to $1.77 billion in 2025, with a compound annual growth rate (CAGR) of 10.1%. Factors contributing to the historical growth include regulatory permissions and standardization efforts, a surge in demand for less invasive procedures, a rise in chronic disease cases, extended uses in diagnostic imaging, and an increasing elderly population.
What Is the forecasted market size and growth rate for the steerable needles market?
The steerable needles market size is expected to see strong growth in the next few years. It will grow to $2.58 billion in 2029 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to the adoption of artificial intelligence in medical procedures, expansion of telemedicine and remote surgery, emerging markets and untapped opportunities, integration of steerable needles with imaging technologies, and development of advanced materials for enhanced maneuverability. Major trends in the forecast period include enhanced robotic-assisted navigation systems, miniaturization of components for improved flexibility, incorporation of sensor technology for real-time feedback, integration of machine learning algorithms for trajectory optimization, and development of smart materials for self-steering capabilities.
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What are the major factors driving growth in the steerable needles market?
The steerable needles market is poised for growth, fueled by the rising utilization of minimally invasive procedures. Minimally invasive procedures represent medical interventions that leverage small cuts or natural body apertures to limit tissue harm and cut recovery duration. The preference for minimally invasive procedures is increasing due to the shorter recovery period, diminished risk of complications, and less postoperative discomfort for patients. Steerable needles are utilized in these procedures to accurately guide and aim at specific tissues, thus boosting precision and mitigating damage to adjacent areas. For example, in September 2023, the American Society of Plastic Surgeons, a non-government organization based in the US, reported that the count of minimally invasive procedures like HA fillers surged from 28.78 million in 2020 to 48.83 million in 2022. There was also an increase in non-invasive fat reduction procedures, which rose from 38.65 million in 2020 to 68.29 million in 2022. As a result, the growing adoption of minimally invasive procedures is stimulating the expansion of the steerable needles market.
What key areas define the segmentation 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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Which leading companies are shaping the growth of 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 key trends shaping the future of the steerable needles market?
Major firms in the steerage needle industry are pioneering inventive products, including steerable biopsy needles, aimed at bettering the accuracy in tissue sample acquisition, minimizing patient discomfort, and increasing diagnostic precision. These steerable biopsy needles are a certain kind of medical needles specially crafted for securing tissue samples from typically hard-to-access parts of the body, facilitating managed, directional adjustments during insertion. For instance, in September 2022, the FDA gave Serpex Medical, an American medical device company, 510K clearance for their Compass Steerable Needles – a steerable biopsy needle set designed for exact access to lung nodules in the intrapulmonary region. They provide accurate three-dimensional positioning, making all 18 lung segments and small lesions outside the airways reachable. The product showcases exceptional navigability, enabling more precise lesion targeting and access. It permits a controlled approach to desired locations, while also allowing multiple aspects of the tumor to be sampled without undesirable tip deflection.
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What regions are contributing significantly to the growth of 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.
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