Transparency Market Research in its new report titled, “Prostate Biopsy Needle Market Report – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the prostate biopsy needle market. The TMR report anticipates that the rising prevalence of prostate cancer will drive the prostate biopsy needle market during the forecast period i.e, 2018-2026. The report says that skin cancer is researched to be the second most common type of the disease occurring in men, mostly over 50 years of age. Another disorder related to the prostate gland, i.e. benign prostatic hyperplasia (BPH) is observed to be on the rise. Here, the disorder causes enlargement of the gland. Rising prevalence of these diseases is foreseen to significantly up the demand for prostate biopsy needle. Among other prostate biopsy devices, needles could rake in a higher demand in the coming years.
As per the report, frequent use of prostate biopsy needle in the diagnosis and treatment of prostate-related diseases is foretold to set the tone for a valuable rise in market growth. One of the most commonly performed biopsies is researched to be transrectal ultrasound (TRUS)-guided systematic needle biopsy. It is used as a standard technique to detect prostate cancer.
Usage of prostate biopsy needle offers minimal morbidity, reduced contamination, decreased cost, and greater convenience and is less complex. Medical institutions investing heavily in prostate biopsies for diagnosis and treatment of prostate cancer could provide a strong traction to the world prostate biopsy needle market. These institutions are also focusing on catering to medical needs of people by building state-of-the-art medical infrastructure.
The report has segmented the global prostate biopsy needle market as per type and application. In terms of type, the market is segregated into two main segments, viz. automatic and semi-automatic. Each segment of the market is carefully studied while concentrating on its growth potential and market figures. Owing to increasing incidence of prostate and bladder problems and sedentary lifestyle observed in the U.S., North America is prognosticated to achieve a king’s share of the international prostate biopsy needle market in the coming years. Moreover, availability of promising medical measures and greater affordability to cover medical expenses could help the region to maintain its position in the market.
Development of new biopsy devices is expected to stand out as another factor augmenting the demand in the regional market. The TMR report also states that Asia Pacific is envisioned to show impressive growth while riding on rising government initiatives and healthcare expenditure, improving healthcare infrastructure, large population base, and surging incidence of cancer.
The global prostate biopsy needle market marks the presence of prominent companies including Protek Medical Products, PURE Medical Device, Cook Medical, Coloplast, and Bard Medical. Companies are predicted to compete on the basis of variety, brand, availability, and price. As per the report, they could focus on reviving domestic demand and expanding their regional presence to gain a foothold in the market.
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