Pulmonary Needles Market Forecast Covering Growth Inclinations & Development Strategies until 2028

From: Fact Mr
Published: Thu Sep 12 2019

A pulmonary needle is a hollow hypodermic needle designed for insertion into the lungs. Pulmonary needles are used for diagnosis, prognosis or treatment of lung disorders, such as cancer, and infective diseases, such as tuberculosis, abscess, sepsis, viral and bacterial infection and others. Biopsy and aspiration are the major procedures that account for the major use of pulmonary needles. Manual loading is being increasingly replaced by automatic, spring-loaded mechanisms or vacuum-assisted devices (VADs).

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Pulmonary Needles Market: Drivers and Restraints

Increase in the number of various procedures, such as fine needle aspiration and biopsies, owing to the growing prevalence of lung diseases, such as infections, bronchitis and cancer, due to growing risk factors, such as smoking, exposure to allergens and carcinogens and others, is the prime driver for the pulmonary needles market. The American Cancer Society’s estimates about 234,030 new cases of lung cancer and about 154,050 deaths in 2018.

The primary technological driver for the pulmonary needles market is the rapid adoption of diagnostics, such as computed tomography (CT), fluoroscopy and ultrasound, which provide critical benefits, such as direct real time imaging and improved success rate by a large margin. Advancements in materials, such as the substitution of stainless steel by cobalt chromium, which is 24% harder, helps to maintain tip sharpness and is more resilient to deformation over multiple passes, will further add to the growth of the pulmonary needles market. Innovations in design represent the largest market opportunity as market position is of critical importance in the industry. Innovative designs, such as ergonomic rotating handle and slip resistant grip, for better needle control and precision, are gaining a large traction.

The restraints in the pulmonary needles market are the various risks, such as chest pain, nosocomial infection, difficulty in breathing, fever or swelling and bleeding from the site.

Pulmonary needles Market: Regional Wise Outlook

The global pulmonary needles market is classified into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan and Middle East and Africa. North America is expected to account for the largest share in the global pulmonary needles market owing to the high concentration of key market players, excellent reimbursement rate and large healthcare expenditure amounting to 16% of GDP in 2016. The approval of Medicare & Medicaid Services (CMS) for Screening of Lung Cancer is expected to further drive large market adoption.

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The Asia Pacific market excluding Japan is expected to grow at a significant CAGR owing to the expansion of healthcare and growing prosperity in the country. China and India are expected to hold the lion’s share in the market. Europe, led by Germany, France and the UK, is expected to make the second largest market. The Middle East and Africa pulmonary needles market is expected to incline towards gulf economies, such as Saudi Arabia, Kuwait and Qatar.

Pulmonary Needles Market: Overview

The global market for pulmonary needles is consolidated with a few large players dominating the scene. The market trends include combined approaches of using pulmonary needles with acoustic imaging to obtain accurate diagnosis and prognosis of conditions, which is expected to create high market demand. Some of the established brands of pulmonary needles are Veran Medical Technologies, Cook Medical, Veran Medical Technologies, Bostonscientific, argonmedical, BreStem Therapeutics, SOMATEX Medical Technologies GmbH, Medi-Globe GmbH and others.

Pulmonary needles Market: Key Players

Some of the major players in the global pulmonary needles market are Veran Medical Technologies, Cook Medical, Veran Medical Technologies, Boston scientific, argonmedical, BreStem Therapeutics, SOMATEX Medical Technologies GmbH, Medi-Globe GmbH and others.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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