The global Acupuncture Needles Market size is expected to reach $213.95 Million by 2028 growing at the CAGR of 8.65% from 2021 to 2028. Acupuncture is a part of traditional Chinese medicine. It is an alternative medicine, where needles are pierced at particular pressure points in the body for the purpose of stimulating the nerves. It is generally used to treat headaches, paralysis, body pain, speech disorders, migraines, insomnia, joint conditions, menstrual cramps, post- operative pain and nausea.
| Parameters | Indicators |
|---|---|
| Market Size (2020) | $213.95 Million |
| CAGR (2021 to 2028) | 8.65% |
| Market Classification | Type, Material, End-User |
| Key Companies Profiled | Seirin, Empecs Medical Co. Ltd., Suzhou Tianxie Acupuncture Instruments Co., Ltd., AcuMedic Ltd., Qingdao Great Fortune Co. Ltd., AIK Medical, 3B Scientific, Lhasa OMS, Asia-Med GMbH, and Coghlin Companies |
| Key Countries/Regions Analyzed | US, Canada, Mexico, UK, Germany, France, Italy, Rest of Europe, China, India, Japan, South Korea, Rest of Asia Pacific, Middle East & Africa, and South America |
| Base Year | 2020 |
| Estimated Year | 2021 |
| Forecast Years | 2022 to 2028 |
Driving Factors
The factors driving the growth of the global acupuncture needles market include increasing cases of chronic diseases, changing lifestyles, alcohol addiction and obesity. Furthermore, prevalence of gynaecological disorders such as infertility, which is due to hectic lifestyles and increasing health problems in geriatric population, has fuelled the growth of the acupuncture needles market.
- Increasing prevalence of chronic diseases
The major factor driving the growth of the global acupuncture needles market is the rising number of chronic diseases such as cancer in developed as well as developing economies. As per the Arthritis Foundation, arthritis is the major cause of disability in the US where around 54 million people have been diagnosed with arthritis and this number is estimated to grow to 78 million by the year 2040. Hence, the rising number of cancer cases has contributed to the growth of the acupuncture needles market significantly.
- Lack of severe side effects.
Acupuncture therapy does not have any severe side effects, which is making it a popular treatment method across the world. Moreover, the U.S. Food and Drug Administration (FDA) regulate acupuncture needles, under good manufacturing practises and single- use standards of sterility. Therefore, the lack of severe side effects as well as the strict regulations is driving the growth of the acupuncture needles market across the world.
Restraining factors
The factors restraining the growth of the global acupuncture needles market include regular follow- up treatments, which can be inconvenient for most consumers.
Key Insight in the report:
The Global Acupuncture Needles market report covers Executive Summary, Market Dynamics, Trend Analysis, Market Size and Forecast, Competitive Intelligence, Market Positioning, Product Benchmarking, and Opportunity Analysis.
The report covers extensive competitive intelligence which includes following data points:
- Business Overview
- Business Model
- Financial Data
- Financial – Existing
- Financial – Funding
- Product Segment Analysis and specification
- Recent Development and Company Strategy Analysis
- SWOT Analysis
Acupuncture Needles Market Segmentation
Acupuncture Needles Market
The report covers market sizing and forecasting at the country level as well as at the segment level. Acupuncture Needles Market is analyzed across below-mentioned different segments:
By Type
- Disposable Needles
- Non-Disposable Needles
By Material
- Stainless Steel
- Gold
- Silver
By End User
- Clinics
- Hospitals
- Others
Regional analysis
Asia Pacific dominates the acupuncture needles market, which is attributed to the rising adoption of acupuncture treatment in the region. In addition to this, increasing preference towards using traditional methods such as acupuncture fuels the market growth in this region. Improving health care infrastructures along with the increasing number of acupuncture therapy centres is estimated to propel the growth of the acupuncture needles market in the region.
The Acupuncture Needle Market is analyzed across below mentioned region.
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia Pacific
- Rest of the World
Acupuncture Needle Market Ecosystem Players:
The some of the key ecosystem players in of Acupuncture Needles Market include:
- Seirin
- Empecs Medical Co. Ltd.
- Suzhou Tianxie Acupuncture Instruments Co., Ltd.
- AcuMedic Ltd.
- Qingdao Great Fortune Co. Ltd.
- AIK Medical
- 3B Scientific
- Lhasa OMS
- Asia-Med GMbH
- Coghlin Companies
REPORT CONTENT BRIEF:
- High level analysis of the current and future Acupuncture Needles market trends and opportunities
- Detailed analysis on current market drivers, restraining factors, and opportunities in the future
- Acupuncture Needles market historical market size for year 2020, and forecast from 2021 to 2028
- Vendor market share analysis at each product level
- Acupuncture Needles Market share with a detailed insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations and partnerships as well as funding taken and investment done, among others.
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