Wilmington, Delaware, United States, May 23, 2023 (GLOBE NEWSWIRE) -- The global acupuncture needles market is likely to register a CAGR of 5% from 2021 to 2031. In 2020, the market for acupuncture needles was estimated at US$ 122.78 million and it is anticipated to reach US$ 200 million by 2031.
The frequency of procedures has also grown as a result of the rise in chronic illnesses. The majority of surgical wounds are painful, deep, and somewhat big in size. Acupuncture effectively relieves the patients' bodily and emotional suffering in these situations. The demand for this therapy is rising internationally as a result of the fact that it also aids in the recovery from post-surgical trauma. It is projected that the growing number of surgeries would raise demand for acupuncture treatments, driving the market for acupuncture needles to expand.
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One of the primary causes of the increased demand for acupuncture is the rising incidence of diabetes and hypertension. In 2019, the WHO issued a study estimating that 1.13 billion people globally have hypertension. Hypertension, which is thought to afflict around 1.00 billion people worldwide, is mostly brought on by diabetes.
People who have long-term diabetes frequently develop severe diabetic leg ulcers. In these situations, acupuncture therapy aids patients with these diseases in lessening their discomfort. It also aids in decreasing hypertension, propelling the market for acupuncture needles to rise throughout the forecast period by providing mental comfort.
The Global Market for Acupuncture Needles: Key Trends
- The market share of disposable needles, which was substantial in 2020, is expected to rise at the quickest rate throughout the projected period. The low danger of disease transmission from patient to patient and the product's inexpensive cost are two of the many benefits that are contributing to the segment's growth. Due to safety concerns and their widespread availability, disposable goods are generally recommended by healthcare practitioners. Over the projection period, significant sector growth is expected.
- In 2020, a substantial portion of the acupuncture needles market belonged to hospitals. The primary drivers of sector expansion are the rising incidences of venous leg ulcers as well as diabetic foot ulcers.
- The segment's expansion is also being fueled by an increase in surgical wound cases as a result of more operations being performed. Such factors may promote sector expansion during the projection period as acupuncture therapy aids in lessening the pain brought on by SSI wounds.
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Key Findings of the Market Report
- Stakeholders and medical professionals need to raise knowledge about the distinction between genuine acupuncture as well as sham acupuncture in order to promote market growth.
- In 2020, the market for disposable acupuncture needles accounted for more than 31% of the overall market share.
- In terms of material, the stainless-steel market for acupuncture needles was dominant in 2020.
Global Acupuncture Needles Market: Regional Outlook
- In 2020, the acupuncture needles market was dominated by the Asia Pacific region. It is projected that the presence of growing nations like Japan, China, and India would accelerate market expansion in the area. Acupuncture is a popular traditional Chinese medicine option in both China and Japan. The surge in demand for acupuncture treatments in this region might also be related to the fast expanding medical tourism business in these nations.
- The demand for acupuncture needles in North America is predicted to expand at a rapid rate during the forecast period. The regional market is primarily being driven by the increase of hypertension and diabetes cases in the area. The demand for acupuncture therapy among patients is also predicted to rise along with the number of surgical operations.
Global Acupuncture Needles Market: Key Players
- 3B Scientific
- AcuMedic
- asia-med GmbH
- Dana Medical Co., Ltd.
- 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.
- Changchun Aikang Medical Devices Co., Ltd.
- MeyerDC
- DongBang AcuPrime
- Others
Some developments by the key players in the global market for acupuncture needles are:
- Ora Acupuncture, a brand-new acupuncture facility, opened its doors in the United States in March 2020. Customers can pay $50 to $120 for a 30- or 50-minute rapid acupuncture session from one of Ora's five acupuncturists who have received traditional Chinese medicine training.
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Global Acupuncture Needles Market Segmentation
- Type
- Disposable
- Reusable
- Material Type
- Silver
- Copper
- Tinplate-galvanized Iron
- Stainless Steel
- Others
- Application
- Arthritis
- Back Pain, Neck Pain, or Muscle Pain
- Headaches & Migraines
- Knee Pain
- Menstrual Cramps
- Sports Injuries
- Others
- Distribution Channel
- Hospital
- Acupuncture Clinics
- Others
By Region:
- North America
- Latin America
- Europe
- Asia-Pacific
- Middle East and Africa
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