Steerable Needles Global Market 2024 - By Share, Growth, Demand, Trends, Forecast To 2033

The steerable needles market size is expected to see rapid growth in the next few years. It will grow to $2.35 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%.  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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Scope Of Steerable Needles Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Steerable Needles Market Overview

Market Drivers -
The steerable needles market size has grown strongly in recent years. It will grow from $1.47 billion in 2023 to $1.61 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%.  The growth in the historic period can be attributed to regulatory approvals and standardization initiatives, increased demand for minimally invasive procedures, increased prevalence of chronic diseases, expanding applications in diagnostic imaging, and a growing geriatric population.

The steerable needles market size is expected to see rapid growth in the next few years. It will grow to $2.35 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%.  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.

Market Trends -
Major companies operating on steerable needles are developing innovative products, such as steerable biopsy needles, to enhance precision in tissue sampling, reduce patient discomfort, and improve the accuracy of diagnoses. Steerable biopsy needles are specialized medical needles designed to obtain tissue samples from specific, often difficult-to-reach areas within the body, allowing controlled, directional changes during insertion. For instance, in September 2022, Serpex Medical, a US-based medical device company, received Food and Drug Administration (FDA) 510K clearance for Compass Steerable Needles, a steerable biopsy needles that enable precise access to lung nodules in the intrapulmonary region. It provides precise three-dimensional positioning for enhanced reach to all 18 lung segments and access to small lesions outside the airways. It offers exceptional maneuverability, allowing for more accurate targeting and access to lesions. It allows for a controlled approach to target locations and the ability to sample multiple aspects of the tumor without unwanted tip deflection.

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

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Regional Insights -
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.

Key Companies -
Major companies operating on steerable needles are developing innovative products, such as steerable biopsy needles, to enhance precision in tissue sampling, reduce patient discomfort, and improve the accuracy of diagnoses. Steerable biopsy needles are specialized medical needles designed to obtain tissue samples from specific, often difficult-to-reach areas within the body, allowing controlled, directional changes during insertion. For instance, in September 2022, Serpex Medical, a US-based medical device company, received Food and Drug Administration (FDA) 510K clearance for Compass Steerable Needles, a steerable biopsy needles that enable precise access to lung nodules in the intrapulmonary region. It provides precise three-dimensional positioning for enhanced reach to all 18 lung segments and access to small lesions outside the airways. It offers exceptional maneuverability, allowing for more accurate targeting and access to lesions. It allows for a controlled approach to target locations and the ability to sample multiple aspects of the tumor without unwanted tip deflection.

Table of Contents
1. Executive Summary
2. Steerable Needles Market Report Structure
3. Steerable Needles Market Trends And Strategies
4. Steerable Needles Market – Macro Economic Scenario
5. Steerable Needles Market Size And Growth
…..
27. Steerable Needles Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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