The global steerable needles market size was estimated to be USD 1.28 billion in 2023 and is expected to reach at USD 2.56 billion by 2034 with a CAGR of 6.49% during the forecast period 2024-2034. Rising prevalence of chronic diseases such as cardiovascular disease (CVD), cancer, & neurological disease, increasing demand for needle-based procedure including thermal ablation, brachytherapy, & biopsy, growing demand for minimally invasive procedures, surge in awareness regarding MIS procedures among patients & surgeons, rising mergers & acquisitions within market players, and increasing regulatory approvals of new steerable needles are some of the key factors boosting the market growth.
Increasing regulatory approvals of new steerable needles is predicted to boost the market growth during the forecast period. The market for steerable needles is expected to experience growth due to the elevated demand for needles with enhanced targeting and maneuverability, driven by advantages like reduced hospitalization duration, reduced patient discomfort, and faster recovery. As a result, the increasing demand and adoption rate of steerable needles are expected to be key drivers of market expansion. For instance, in September 2022, Serpex Medical has revealed that its Compass Steerable Needles, which are designed for precise access to lung nodules in the intrapulmonary region, have received U.S. FDA 510(k) clearance. Serpex Medical aims to utilize these steerable instruments to enhance precision and access, ultimately improving the diagnosis and treatment of lung cancer.
By type, bevel-tip flexible needles was the highest revenue-grossing segment in the global steerable needles market in 2023 owing to the extensive availability of manufacturers & their bevel-tip flexible needle products and surge in development & introduction of technologically advanced floor-standing steerable needle products. Additionally, symmetric-tip needles is predicted to grow at fastest CAGR during the forecast period owing to the introduction of new symmetric-type steerable needle products, growing number of surgical procedures. For instance, in April 2023, Body Vision Medical and Serpex Medical have reported that the Cleveland Clinic has effectively performed the primary lung nodule biopsy by employing Body Vision's LungVision real-time, intraoperative CT imaging system and Serpex's Compass steerable needle. This collaboration is expected to expedite the worldwide adoption of these newly introduced steerable needles, contributing to market growth.
By application, biopsy was the highest revenue-grossing segment in the global steerable needles market in 2023 owing to the rising number of biopsy procedures and surge in adoption of steerable needles in hospitals for diagnosis & treatment of disease. Additionally, robotic-assisted surgery is predicted to boost the market growth during the forecast period owing to the growing number of ablation & robotic-assisted surgical procedures and surge in research & development activities. For instance, in September 2023, A team of researchers and medical professionals, under the leadership of Professor Ron Alterovitz at the University of North Carolina at Chapel Hill, has successfully showcased a robotic medical needle that can autonomously navigate through living tissue to reach a specific target while avoiding anatomical obstructions.
By end-user, hospitals was the highest revenue-grossing segment in the global steerable needles market in 2023 owing to the existence of a substantial number of inpatient facilities, rising number of hospital admissions for the diagnosis and treatment of various diseases and growing launch of new devices. For instance, in May 2023, Bentley, a prominent figure in endovascular solutions for aortic and peripheral vascular conditions, has revealed the launch of their inaugural product in the United States. The product, known as the BeBack crossing catheter, is specifically designed for treating heavily calcified lesions. Additionally, ambulatory surgical centers (ASCs) is predicted to grow at fastest CAGR during the forecast period owing to the growing inclination of patients to choose Ambulatory Surgery Centers (ASCs) for their surgical procedures due to the financial benefits.
North America region is anticipated for the highest revenue share during the forecast period owing to the robust presence of companies that are involved in the development, manufacturing, & commercialization of steerable needle products used in hospitals for diagnosing & treating diseases, rising adoption of minimally invasive procedures, and surge in regulatory approvals. For instance, in August 2022, Serpex Medical has obtained U.S. FDA (Food and Drug Administration) 510(k) clearance for its Recon Steerable Sheath, which facilitates distal-end delivery, allowing physicians to access challenging areas within the lung. This approval is expected to improve disease diagnosis and stimulate the adoption of the product, subsequently contributing to market growth. Additionally, Europe region is predicted to grow at fastest CAGR during the forecast period owing to the increasing investment in healthcare sector, rising introduction of new products, and growing research & development activities. For instance, in October 2022, Engineers from EPFL (École polytechnique fédérale de Lausanne) and the University of Strasbourg have created a surgical needle equipped with a flexible tip that can be adjusted in real-time using a simple button, enabling corrections in its trajectory during medical procedures.
Increasing regulatory approvals of new steerable needles is predicted to boost the market growth during the forecast period. The market for steerable needles is expected to experience growth due to the elevated demand for needles with enhanced targeting and maneuverability, driven by advantages like reduced hospitalization duration, reduced patient discomfort, and faster recovery. As a result, the increasing demand and adoption rate of steerable needles are expected to be key drivers of market expansion. For instance, in September 2022, Serpex Medical has revealed that its Compass Steerable Needles, which are designed for precise access to lung nodules in the intrapulmonary region, have received U.S. FDA 510(k) clearance. Serpex Medical aims to utilize these steerable instruments to enhance precision and access, ultimately improving the diagnosis and treatment of lung cancer.
By type, bevel-tip flexible needles was the highest revenue-grossing segment in the global steerable needles market in 2023 owing to the extensive availability of manufacturers & their bevel-tip flexible needle products and surge in development & introduction of technologically advanced floor-standing steerable needle products. Additionally, symmetric-tip needles is predicted to grow at fastest CAGR during the forecast period owing to the introduction of new symmetric-type steerable needle products, growing number of surgical procedures. For instance, in April 2023, Body Vision Medical and Serpex Medical have reported that the Cleveland Clinic has effectively performed the primary lung nodule biopsy by employing Body Vision's LungVision real-time, intraoperative CT imaging system and Serpex's Compass steerable needle. This collaboration is expected to expedite the worldwide adoption of these newly introduced steerable needles, contributing to market growth.
By application, biopsy was the highest revenue-grossing segment in the global steerable needles market in 2023 owing to the rising number of biopsy procedures and surge in adoption of steerable needles in hospitals for diagnosis & treatment of disease. Additionally, robotic-assisted surgery is predicted to boost the market growth during the forecast period owing to the growing number of ablation & robotic-assisted surgical procedures and surge in research & development activities. For instance, in September 2023, A team of researchers and medical professionals, under the leadership of Professor Ron Alterovitz at the University of North Carolina at Chapel Hill, has successfully showcased a robotic medical needle that can autonomously navigate through living tissue to reach a specific target while avoiding anatomical obstructions.
By end-user, hospitals was the highest revenue-grossing segment in the global steerable needles market in 2023 owing to the existence of a substantial number of inpatient facilities, rising number of hospital admissions for the diagnosis and treatment of various diseases and growing launch of new devices. For instance, in May 2023, Bentley, a prominent figure in endovascular solutions for aortic and peripheral vascular conditions, has revealed the launch of their inaugural product in the United States. The product, known as the BeBack crossing catheter, is specifically designed for treating heavily calcified lesions. Additionally, ambulatory surgical centers (ASCs) is predicted to grow at fastest CAGR during the forecast period owing to the growing inclination of patients to choose Ambulatory Surgery Centers (ASCs) for their surgical procedures due to the financial benefits.
North America region is anticipated for the highest revenue share during the forecast period owing to the robust presence of companies that are involved in the development, manufacturing, & commercialization of steerable needle products used in hospitals for diagnosing & treating diseases, rising adoption of minimally invasive procedures, and surge in regulatory approvals. For instance, in August 2022, Serpex Medical has obtained U.S. FDA (Food and Drug Administration) 510(k) clearance for its Recon Steerable Sheath, which facilitates distal-end delivery, allowing physicians to access challenging areas within the lung. This approval is expected to improve disease diagnosis and stimulate the adoption of the product, subsequently contributing to market growth. Additionally, Europe region is predicted to grow at fastest CAGR during the forecast period owing to the increasing investment in healthcare sector, rising introduction of new products, and growing research & development activities. For instance, in October 2022, Engineers from EPFL (École polytechnique fédérale de Lausanne) and the University of Strasbourg have created a surgical needle equipped with a flexible tip that can be adjusted in real-time using a simple button, enabling corrections in its trajectory during medical procedures.
Segmentation: Steerable Needles Market Report 2023 - 2034
Steerable Needles Market Analysis & Forecast by Type 2023 - 2034 (Revenue USD Bn)
- Tendonactuated Tips
- Bevel-tip Flexible Needles
- Symmetric-tip Needles
Steerable Needles Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Robotic-Assisted Surgery
- Tumor Ablation
- Biopsy
- Pain Management
- Others
Steerable Needles Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Ambulatory Surgical Centers
- Hospitals
- Others
Steerable Needles Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Steerable Needles Market: Type Estimates & Trend Analysis
8. Steerable Needles Market: Application Estimates & Trend Analysis
9. Steerable Needles Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Steerable Needles Market
12. Europe Global Steerable Needles Market
13. Asia Pacific Global Steerable Needles Market
14. Latin America Global Steerable Needles Market
15. MEA Global Steerable Needles Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Olympus Corporation
- AprioMed Inc.
- Boston Scientific Corporation
- Serpex Medical
- Body Vision Medical
- Merit Medical Systems
- APT Medical Inc.
- Johnson & Johnson Services Inc.
- DEAM
- Medtronic
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 1.28 Billion |
| Forecasted Market Value ( USD | $ 2.56 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
