Global Acupuncture Needles Market Insights Forecasts to 2032
- The Global Acupuncture Needles Market Size was valued at USD 240 million in 2022.
- The market is growing at a CAGR of 9.5% from 2022 to 2032.
- The worldwide Acupuncture Needles Market size is expected to reach USD 596 million by 2032.
- North America is expected to grow the fastest during the forecast period.
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The Global Acupuncture Needles Market Size is expected to reach USD 596 Million by 2032, at a CAGR of 9.5% during the forecast period 2022 to 2032.
Acupuncture is extremely helpful in treating and alleviating pain caused by chronic conditions. Furthermore, the risk of serious adverse effects is lower as compared to other therapies. Acupuncture needles are small, sterile needles used in the practice of acupuncture, a type of traditional Chinese medicine. These needles are distinct from other types of needles, such as hypodermic needles used for injections or blood drawing. Furthermore, the rising incidence of chronic disorders such as diabetes is hastening market growth. According to World Health Organization (WHO) estimates, the prevalence of diabetes in poor and middle-income nations will be higher in 2021 than in high-income ones. In addition, according to the International Diabetes Federation (IDF), around 537 million persons aged 20 to 79 years lived with diabetes in 2021. Furthermore, the growing number of type 1 diabetes patients, mostly children, and adolescents, will drive market growth since diabetic youngsters are predisposed to problems. Furthermore, some market participants are focusing on R&D operations to produce innovative acupuncture needles.
This research report categorizes the global acupuncture needles market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global acupuncture needles market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global acupuncture needles market. Technological innovation and advancement will further optimize the performance of the product, enabling it to acquire a wider range of applications in the downstream market.
Global Acupuncture Needles Market Report Coverage
|Market Size in 2022:||USD 240 million|
|Forecast Period:||2022 - 2032|
|Forecast Period 2022 - 2032 CAGR:||9.5%|
|2032 Value Projection:||USD 596 million|
|Historical Data for:||2018 - 2021|
|No. of Pages:||210|
|Tables, Charts & Figures:||131|
|Segments covered:||By Product, By Material, By End- User, By Region|
|Companies Covered:||3B SCIENTIFIC GMBH, AcuMedic Ltd., Asia-med GmbH, SEIRIN, Dana Medical Co., Boen Healthcare Co., Ltd., Suzhou Hualun Medical Appliance Co., Ltd., WUXI JIAJIAN MEDICAL DEVICES CO., LTD., Suzhou Zhongjing Life & Science Technology Co., Ltd., Shinylink (Shanghai) Industrial Inc. & Other|
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The rising incidence of hypertension and diabetes are also key reasons contributing to the increased demand for acupuncture. Also, the number of procedures done has grown in response to the growing frequency of chronic illnesses. Most surgical wounds are huge and deep, as well as painful. In such instances, acupuncture offers patients both physical and emotional healing. It also aids in the treatment of post-surgical trauma, which is driving the global demand for this surgery. As a result, the increasing number of surgeries is predicted to increase demand for acupuncture treatments, supporting the growth of the acupuncture needle market. Moreover, one of the major factors impacting the market is the growing geriatric population throughout the world. Because the older population is more susceptible to numerous chronic illnesses and chronic wounds, growth in the geriatric population may have a favorable influence on the market for acupuncture needles. Because the possibilities of developing any adverse effects are relatively minimal with acupuncture treatment, elderly individuals choose to use it. Furthermore, it aids in the reduction of body discomfort and provides both physical and emotional relaxation.
In certain circumstances, different means of stimulation are employed over acupuncture sites instead of needles. Heat (moxibustion), pressure (acupressure), friction, suction (cupping), and electromagnetic energy impulses are a few examples. Nonsteroidal anti-inflammatory medicines (NSAIDs) are among the most widely used pharmaceuticals, with several applications in muscular and back pain. The adoption of alternative treatments and pharmaceuticals (such as NSAIDs) to lessen or relieve headaches, tight muscles, arthritis, and other aches and pains is a significant issue limiting market development.
- In 2022 the disposable needles segment is dominating the market with the largest market share over the forecast period.
Based on product, the global acupuncture needles market is divided into disposable needles and non-disposable Needles. Throughout all segments, the disposable needles segment has the biggest revenue share over the predicted period. The segment's growth is primarily driven by various benefits connected with the product, such as the low risk of disease transfer from one patient to another and cheap cost. Furthermore, because of safety concerns and ease of availability, the majority of healthcare practitioners encourage the use of disposable items. As a result, significant segment growth is expected throughout the projection period.
The non-disposable needles category is expected to develop at a modest rate in the acupuncture needle market during the projected period. One of the biggest negatives of this product's material rate is the significant potential of disease transfer from one patient to another via non-disposable needles.
- In 2022, the stainless steel segment is dominating the largest market growth over the forecast period.
Based on the material, the global acupuncture needles market is classified into stainless steel, gold, & silver. Among these segments, the stainless steel segment is dominating the market, owing to its simple availability and inexpensive cost. Furthermore, in comparison to other needles, the majority of the big competitors sell stainless steel needles all over the world.
Silver needles are expected to expand at a modest rate throughout the projection period due to many advantages such as effective thermal impact in warm acupuncture treatments due to high thermal conductivity.
- In 2022, the hospital segment is influencing the largest market share during the forecast period.
Based on end users, the global acupuncture needles market is classified into hospitals and clinics. Among these segments, the hospital segment is leading the market due to the rising prevalence of diabetic foot ulcers and venous leg ulcers are the primary drivers of sector expansion. Furthermore, the increasing number of surgical wounds as a result of the increasing number of operations is driving industry expansion. Because acupuncture therapy helps to reduce the pain produced by SSI wounds, such factors may drive sector expansion throughout the projection period.
The clinic category is expected to increase at a rapid pace throughout the projected period. The rising number of clinics and surgical procedures are the primary drivers driving sector expansion during the predicted period. Furthermore, one of the primary driving factors for the industry is the increase in surgical wounds.
Regional Segment Analysis of the global acupuncture needles market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia Pacific dominated the market with the largest market revenue during the forecast period
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Asia Pacific is dominating the significant market growth during the forecast period due to the presence of growing nations like China, India, and Japan is expected to promote regional market growth. Acupuncture is a traditional Chinese therapy that is extensively used in both China and Japan. Furthermore, the fast-increasing medical tourism business in these nations might be related to the region's increased need for acupuncture therapy.
The market for acupuncture needles in North America is expected to rise at a rapid pace throughout the projected period. The increased prevalence of diabetes and hypertension is driving the regional market. Furthermore, the increasing number of surgical operations is expected to boost patient demand for acupuncture treatment.
The report offers the appropriate analysis of the key organizations/companies involved within the global acupuncture needles market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- 3B SCIENTIFIC GMBH
- AcuMedic Ltd.
- Asia-med GmbH
- Dana Medical Co.
- Boen Healthcare Co., Ltd.
- Suzhou Hualun Medical Appliance Co., Ltd.
- WUXI JIAJIAN MEDICAL DEVICES CO., LTD.
- Suzhou Zhongjing Life & Science Technology Co., Ltd.
- Shinylink (Shanghai) Industrial Inc.
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Acupuncture Needles Market based on the below-mentioned segments:
Global Acupuncture Needles Market, By Product
- Disposable Needles
- Non-disposable Needles
Global Acupuncture Needles Market, By Material
- Stainless Steel
Global Acupuncture Needles Market, By End Users
Acupuncture Needles Market, By Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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