Acupuncture Needles Market Growth & Trends
The global acupuncture needles market size is expected to reach USD 187.8 million by 2027, expanding at a CAGR of 8.0%, according to a new report by Grand View Research, Inc. The increase in the adoption of sedentary lifestyles, growing geriatric population, and rising incidence of emotional disorders are the key factors driving the market.
Acupuncture is a traditional healing practice derived from traditional medical practice in China. The treatment involves placing thin needles at specific pressure points of the body. This technique helps in reducing the pain caused due to several conditions such as joint conditions, headache, body pain due to surgeries and chronic disorders, migraines, menstrual cramps, and paralysis. It is also known for treating certain major issues such as emotional disorders, nausea, speech disorders, digestive disorders, respiratory conditions, and insomnia. Acupuncture also helps to get rid of certain harmful addictions such as smoking and alcohol consumption.
The rising cases of emotional disorders and chronic conditions are the major factors boosting the market growth. According to the report published by the National Council for Behavioral Health in 2019, in the U.S. almost half of the population suffers from some kind of mental illness throughout their lifetime. It also reported that around 5.0% of the adults in the country experience mental disorder in any one year, which is almost 43.8 million people in the U.S. As per the National Center for Biotechnology Information (NCBI), acupuncture and energy psychology together work efficiently in the treatment and diagnosis of emotional disorders without causing any severe side-effects. Therefore, such advantages and usefulness of this technique have encouraged many people across the globe, to opt for this technique for the treatment of such emotional conditions. Thus, considerable market growth is anticipated over the forecast period.
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Acupuncture Needles Market Report
Acupuncture Needles Market Report Highlights
- In terms of revenue, the disposable needles segment held the largest share in 2019. The low risk of transmission of any disease from one person to another is the major factor driving the segment over the forecast period
- The stainless steel segment held the largest market share in 2019 owing to the easy availability of raw materials and low cost
- The hospital segment is anticipated to witness the fastest growth rate over the forecast period owing to the rising complications caused due to chronic disorders
- Asia Pacific is anticipated to witness the fastest growth over the forecast period owing to the rising number of surgeries and the presence of many local key players
Acupuncture Needles Market Report Scope
Report Attribute Details
Market size value in 2020 — USD 109.4 million
Revenue forecast in 2027 — USD 187.8 million
Growth Rate — CAGR of 8.0% from 2020 to 2027
Base year for estimation — 2019
Historical data — 2015–2018
Forecast period — 2020–2027
Quantitative units — Revenue in USD million and CAGR from 2020 to 2027
Report coverage — Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered — Product, material, end-use, region
Regional scope — North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Country scope — The U.S.; Canada; The U.K.; Germany; Japan; China; Brazil; Mexico; South Africa; Saudi Arabia
Key companies profiled — 3B SCIENTIFIC GMBH; AcuMedic Ltd.; asia-med GmbH; SEIRIN; Dana Medical Co.; Suzhou Hualun Medical Appliance Co., Ltd; Shinylink（Shanghai）Industrial Inc.; Boen Healthcare Co., Ltd.; WUXI JIAJIAN MEDICAL DEVICES CO.; LTD.; Suzhou Zhongjing Life & Science Technology Co., Ltd.
Customization scope — Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
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