Westford,USA, Nov. 03, 2022 (GLOBE NEWSWIRE) -- According to SkyQuest report, the global acupuncture needles market is expected to witness lucrative opportunities in the coming decades due to their demand in numerous medical conditions. They find wide application in chronic diseases such as obesity, autoimmune diseases, diabetes, paralysis, and gastrointestinal, joint, and gynaecological conditions.
These needles are utilized to release chemicals into patients’ bodies and come in disposable and non-disposable options. Unhealthy lifestyle choices such as smoking, a sedentary lifestyle, and alcohol consumption lead to illness in all age groups. People are becoming conscious of their lifestyles and are making impactful changes. Rising cases of drug rehabilitation and mental health care are bolstering the demand for acupuncture needles in the global market.
Disposable needles hold the highest share of the acupuncture needles market and are expected to lead the market in the future. This demand is driven by superior hygiene practices and lower cost rates. Stainless steel will dominate the materials segment during the forecast period as they are easily available and inexpensive. Their thermal properties make them ideal in various industries.
China and Japan will drive the market for Asia Pacific as they have increased medical tourism. Hefty costs and insurance policies influence patients from developed countries to fly to these countries for various medical rehabilitation and preventive care solutions.
As per SkyQuest, North America held 87.5% of the share of acupuncture needles market in 2021 and is expected to dominate the global market. This region is witnessing the entrance of numerous local players. For instance, Ora Acupuncture was launched in the U.S. in March 2020.
SkyQuest has recently published a report on global market that gives insightful information about consumer behaviour and shifts in pattern due to leading trends. Readers can gain an understanding about the demand and supply gap and how to overcome it. Report provides investors with data that allows them to make learned decisions.
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Hospitals are Likely to be Ahead in Global Acupuncture Needles Market
Hospitals are experiencing rising cases of ulcers, surgical wounds, and other chronic diseases. Major surgical wounds are painful and deep, hence demanding successful relief for the patient. According to WHO, 1.13 billion people across the globe were diagnosed with hypertension. Also, according to the National Diabetes Statistic Report, over 100 million people in the U.S. alone are diagnosed with diabetes. Acupuncture needles used in hospitals provide effective relief to people suffering from chronic illnesses. Post-surgical trauma relief also demands frequent acupuncture visits, thus further bolstering its demand.
Long-term diabetes leads to diabetic ulcers on the legs of patients. These are majorly geriatric people and require care. This will highly influence the acupuncture needles market.
Acupuncture alternative finds application in other conditions such as migraines, headache, postoperative pain, joint conditions, insomnia, paralysis, menstrual cramps, anxiety, asthma, chemotherapy, infertility, and others.
As per analysts at SkyQuest, the global acupuncture needles market will be highly influenced by COVID-19-recovered patients. Many of these patients have recorded breathlessness and acupuncture effectively provides relief. It is also offered for osteoarthritis. Players in the market are tapping into this opportunity by increasing awareness about holistic alternatives for osteoarthritis and rheumatoid arthritis. Many students are gaining medical degrees in acupuncture and adding to the global growth of the market.
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Players Tackle Hindrances by Investing in Promoting the Advantages of Holistic Alternatives
No insurance exposure will hinder its market growth during the forecast period. However, patients are increasingly choosing acupuncture as their alternative, holistic choice as they do not have side effects and are painless.
The global acupuncture needles market is fragmented in nature as new competitors are entering the global market. Well-invested marketing strategies have influenced people to choose acupuncture because of its advantages. This is creating lucrative opportunities for players in the market. Leading competitors are collaborating, merging, acquiring, and investing in R&D activities to stay ahead of the competition.
A recent report published by SkyQuest offers comprehensive insights on leading trends, regional analysis, recent developments, and strategies adopted by key players. The report also provides details of the value and volume of each segment during the forecast period. Readers can gain insightful answers related to factors influencing the demand and decline in the global acupuncture needles market. For more information, please click here.
Key Trends in Global Acupuncture Needles Market
- Rising cases of chronic diseases and the availability of holistic alternative choices are boosting the demand for the market.
- As per the Arthritis Foundation, around 54 million patients suffer from arthritis in the U.S. alone.
- No side effects and relief from trauma make it ideal over traditional choices.
- Acupuncture needles are approved by the U.S. Food and Drug Administration (FDA), thus bolstering its demand in the forecast period.
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Key Players in Global Acupuncture Needles Market
- 3B Scientific (US)
- AcuMedic (UK)
- asia-med GmbH (Germany)
- Dana Medical Co., Ltd. (South Korea)
- Boen Healthcare Co., Ltd. (China)
- Suzhou Hualun Medical Appliance Co., Ltd. (China)
- Wuxi Jiajian Medical Devices Co., Ltd. (China)
- Suzhou Zhongjing Life & Science Technology Co., Ltd. (China)
- Shinylink Industrial, Inc. (China)
- MeyerDC (US)
- DongBang AcuPrime (UK)
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