2025-2034 Growth Prospects of the Steerable Needles Market: Key Trends and Opportunities Analyzed
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How Significant is the Anticipated Growth Rate of the Steerable Needles Market from 2025 to 2034?
In recent times, the size of the steerable needles market has seen a swift expansion. Its development is forecasted to surge from a valuation of $1.61 billion in 2024 to $1.77 billion in 2025, maintaining a compounded annual growth rate (CAGR) of 10.1%. Factors contributing to its growth during the historical period include regulatory consent and measures towards standardization, an escalating demand for less invasive procedures, a rise in the occurrence of chronic ailments, wider applications in diagnostic imaging, as well as a swelling geriatric demographic.
There is an anticipation of significant expansion in the steerable needles market in the upcoming years, with a projected growth to $2.58 billion by 2029 at a compound annual growth rate (CAGR) of 9.9%. The projected growth during the forecast period is largely attributed to the incorporation of artificial intelligence in medical operations, the expansion of telemedicine and distance surgery, the arrival of new markets and untapped potential, the merging of steerable needles with imaging technologies, and the progress of superior materials for improved manageability. Key trends during the forecast period include the advancement of robotic-assisted direction systems, the reduction in size of components for increased flexibility, the adoption of sensor technology for instant feedback, amalgamation of machine-learning algorithms for improved trajectory, and the creation of smart materials for self-steering abilities.
What Combination of Drivers Is Leading to Accelerated 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.
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Who Are the Dominant Players Pushing the Boundaries 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
How Are Market Trends Revolutionizing the Steerable Needles Industry in Recent Times?
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.
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Which Industry Segments Are Leading the Development and Expansion of the 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
Which Geographic Areas Are Influencing 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.
How Can We Define the Steerable Needles Market and Its Key Components?
Steerable needles are a type of medical needle designed to change direction within the body to reach specific targets that are difficult to access with traditional straight needles. These needles incorporate mechanisms that allow for controlled, real-time adjustments in their trajectory, often guided by imaging technologies such as ultrasound, magnetic resonance imaging (MRI), or fluoroscopy. Steerable needles enhance precision in medical interventions, reduce trauma to surrounding tissues, and improve outcomes in complex procedures.
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