What is Global PEIT Needle Market?
The Global PEIT Needle Market is a specialized sector within the broader medical device industry. PEIT, or Percutaneous Ethanol Injection Therapy, is a medical procedure that uses a needle to inject ethanol directly into a tumor to kill cancer cells. The needles used in this procedure are the focus of the Global PEIT Needle Market. These needles are designed and manufactured to meet the specific requirements of PEIT, ensuring the safe and effective delivery of the ethanol to the tumor site. The market for these needles is driven by the increasing prevalence of cancer worldwide and the growing adoption of PEIT as a treatment option. However, the market also faces challenges such as stringent regulatory requirements and the high cost of PEIT needles. Despite these challenges, the Global PEIT Needle Market is expected to grow in the coming years, driven by technological advancements and increasing awareness about the benefits of PEIT.
Diameter: 19G, Diameter: 21G, Diameter: 22G, Other in the Global PEIT Needle Market:
The Global PEIT Needle Market is segmented based on the diameter of the needles, with the main segments being 19G, 21G, and 22G. The 19G needles are the largest in diameter and are typically used for larger tumors. The 21G needles are slightly smaller and are used for medium-sized tumors. The 22G needles are the smallest and are used for smaller tumors or for tumors located in sensitive areas. There is also a segment for other diameters, which includes needles of various sizes used for specific applications. Each of these segments has its own market dynamics, influenced by factors such as the prevalence of different types of tumors, the suitability of different needle sizes for different procedures, and the preferences of healthcare professionals.
Hospital, Clinic, Other in the Global PEIT Needle Market:
The Global PEIT Needle Market also varies based on the type of healthcare facility where the needles are used. The main segments in this regard are hospitals, clinics, and others. Hospitals are the largest segment, as they are the primary locations where PEIT is performed. Clinics, on the other hand, are smaller facilities that may also perform PEIT, especially in cases where the procedure can be done on an outpatient basis. The other segment includes various other healthcare facilities where PEIT may be performed, such as specialized cancer treatment centers. The market dynamics in each of these segments are influenced by factors such as the number and size of the facilities, the number of PEIT procedures performed, and the procurement policies of the facilities.
Global PEIT Needle Market Outlook:
The future of the Global PEIT Needle Market looks promising, as indicated by its market outlook. In 2022, the market was valued at US$ 32 million. This value is expected to increase to US$ 48 million by 2029, representing a Compound Annual Growth Rate (CAGR) of 6.3% during the forecast period from 2023 to 2029. This growth is expected to be driven by various factors, including the increasing prevalence of cancer, the growing adoption of PEIT as a treatment option, and the ongoing technological advancements in the design and manufacture of PEIT needles. However, the market also faces potential challenges, such as stringent regulatory requirements and the high cost of PEIT needles, which could impact its growth trajectory.
| Report Metric | Details |
| Report Name | PEIT Needle Market |
| Accounted market size in 2022 | US$ 32 in million |
| Forecasted market size in 2029 | US$ 48 million |
| CAGR | 6.3% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | WEGO, H.S. Hospital Service, Hakko, M.D.L., Vigeo, TSK |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
