Pune India, Dec. 22, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Acupuncture needles market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the acupuncture needles market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product, material and end use. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global acupuncture needles market are Boen Healthcare Co., Ltd., MeyerDC, 3B Scientific, Suzhou Hualun Medical Appliances Co., Ltd., DongBang AcuPrime, asia-med GmbH, Wuxi Jiajian Medical Appliances Co., Lrd., Changchun Aikang Medical Devices Co., Ltd. among others. To achieve a substantial market share in the worldwide acupuncture needles market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Chinese medicine-based acupuncture treats a variety of ailments by stimulating particular spots on the skin with the aid of acupuncture needles. Acupuncture sites stimulate the central nervous system, which releases biochemicals into the muscles, brain, and spinal cord, promoting physical and emotional well-being. The acupuncture needle industry may benefit from an increase in the elderly population because older people are more prone to chronic illnesses and wounds. The rise in chronic diseases including diabetes, obesity, and autoimmune disorders as a result of antimicrobial resistance and sedentary lifestyles, alcohol consumption, and smoking are only a few of the key reasons fueling the market's expansion. Surgical wounds are typically huge and painful. Acupuncture is increasingly in demand in these situations, making it a successful physical and psychological therapy for patients as well as a way to deal with post-surgical trauma. Additionally, because older people are more likely to develop chronic wounds and illnesses, acupuncture needles are used more frequently in this population. The market for acupuncture needles can gain as the elderly population rises. Numerous product improvements, such as needles fitted with nanosensors to measure physical, chemical, and biological qualities, are additional growth-promoting elements.
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Scope of Acupuncture Needles Market Report
| Report Metric | Information |
| Study Period | 2021-2029 |
| Base Year | 2021 |
| Forecast Period | 2022-2029 |
| Market Share Unit | USD Billion |
| Segments Covered | Product, Material, End Use and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Boen Healthcare Co., Ltd., MeyerDC, 3B Scientific,Suzhou Hualun Medical Appliances Co., Ltd., DongBang AcuPrime, asia-med GmbH, Wuxi Jiajian Medical Appliances Co., Lrd., Changchun Aikang Medical Devices Co., Ltd. among others. |
Segmentation Analysis
The Disposable Needles segment is expected to be the fastest-growing segment in 2021.
The product segment includes non-disposable needles and disposable needles. The disposable needles segment is expected to witness the highest growth rate during the forecast period. The reduced danger of disease transmission between patients and low cost of disposable needles are just two benefits. Additionally, because disposable needles are more practical and secure, healthcare professionals advise utilising them, which raises the demand for acupuncture needles in hospitals.
Stainless Steel is expected to be the fastest-growing segment in 2021.
The application segment includes silver, stainless steel and gold. The stainless steel segment is expected to witness the highest growth rate during the forecast period. Because they are extensively utilised, easily available, and reasonably priced, stainless steel acupuncture needles play a significant role in the expansion of the global market for acupuncture needles.
Hospitals is expected to be the fastest-growing segment in 2021.
The end use segment includes clinics, hospitals and others. The hospitals segment is expected to witness the highest growth rate during the forecast period. Due to the increase in surgical wounds following surgery, which will fuel the expansion of acupuncture needles in hospitals, medical institutions anticipate an increasing demand for acupuncture needles. Acupuncture therapy's capacity to lessen the discomfort linked to SSI wounds may also boost segment expansion over the course of the foreseeable year.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for acupuncture needles include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
- The Asia Pacific region witnessed a major share. Due to a better expanding acupuncture therapy and centres healthcare infrastructure, it is predicted that the market for acupuncture needles in the Asia Pacific would rise fast over the forecast period. Acupuncture needle market expansion will also benefit from an increase in medical tourism.
Country Analysis:
- Germany
Germany's acupuncture needles market size was valued at USD 9.01 million in 2021 and is expected to reach USD 17.3 million by 2029, at a CAGR of 8.5% from 2022 to 2029. One of the twelve nations that make up the European Union and have unique acupuncture treatment systems is Germany. The market for acupuncture needles is expanding as a result of the increasing demand for acupuncture treatments in the area.
- China
China’s acupuncture needles market size was valued at USD 12.1 million in 2021 and is expected to reach USD 23.93 million by 2029, at a CAGR of 8.9% from 2022 to 2029. Chinese medicine called acupuncture uses acupuncture needles to stimulate particular areas on the skin in order to decrease pain. Acupuncture is also a form of traditional Chinese medicine, which explains why it is more popular in China.
- India
India's acupuncture needles market size was valued at USD 9.8 million in 2021 and is expected to reach USD 19.24 million by 2029, at a CAGR of 8.8% from 2022 to 2029. Growing numbers of operations and chronic disease cases in the nation are fueling demand for acupuncture treatments to manage pain without the use of drugs, driving the market's expansion there.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the increasing demand for acupuncture treatment to relieve pain which is arising as a result of chronic diseases and wounds after surgery.
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