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Global Acupuncture Needles Market Growth Rate. Size, and Share 2021-2028

Sheryl Dias
Global Acupuncture Needles Market Growth Rate. Size, and Share 2021-2028

The global acupuncture needles market is anticipated to expand at a high CAGR during the forecast period, 2021-2028. Acupuncture is a China-based alternative traditional medicine, wherein needles are inserted at specific pressure points in the body in order to stimulate the nerves. Acupuncture needles are used to treat body pain, headache, migraines, joint conditions, post-operative pain, nausea, menstrual cramps, insomnia, speech disorders, and paralysis. Additionally, it is used to treat emotional disorders (anxiety and depression), alcohol addiction, digestive disorders (nausea, vomiting, and irritable bowel syndrome), respiratory conditions (asthma and sinusitis), chemotherapy, and gynaecological disorders (infertility).

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Market Trends, Drivers, Restraints, and Opportunities:

  • Acupuncture treatment lowers hypertension and provides mental relief. Additionally, it is effective in treating and relieving pain caused due to chronic diseases. Acupuncture provides benefits for managing pain caused by chemotherapy. These factors are fuelling the market.
  • Increasing number of chronic diseases such as diabetes and obesity, due to alcohol consumption, smoking, and others is boosting the demand for acupuncture needles, which in turn, fuels the market.
  • Acupuncture treatments require follow-ups on a regular-basis, which is not possible for all patients. Adverse effects such as bleeding, pain, and infection due to needles and zero insurance coverage for acupuncture treatments hampers the market growth.
  • Growing awareness about acupuncture treatments is anticipated to provide opportunities for the market.

Disposable needles held a substantial market share during the forecast period

Based on product types, the acupuncture market is fragmented into disposable needle and non-disposable needle. The disposable needles segment held a large market share in 2019 and is anticipated to grow rapidly over the forecast period, 2020-2027. The segment growth is driven by several advantages associated with the product, such as low risk of transmission of diseases from one patient to another and low costs. Majority of healthcare professionals recommend using disposable products, due to safety issues and easy availability. The non-disposable needles segment is anticipated to grow at a moderate rate during the forecast period.

Hospital segment held a substantial market share in 2019

In terms of end-users, the acupuncture needles market can be fragmented into hospitals and clinics. The hospital segment of the acupuncture needles market held the maximum revenue share in 2019. Increasing cases of surgical wounds, due to rising number of surgeries is anticipated to drive the market. The clinic segment is anticipated to grow at a high rate during the forecast period, 2020-2027. Increasing number of clinics and surgical procedures are expected to drive the market during the forecast period.

Stainless Steel segment to grow during the forecast period

On the basis of materials, the acupuncture market is segmented into stainless steel, gold and silver. The stainless-steel segment held a large market share in 2019 and is anticipated to grow rapidly during the forecast period, 2020-2027. Stainless steel acupuncture needles are widely used, owing to its low cost and easy availability. The silver needles segment is anticipated to grow at a moderate rate during the forecast period, owing to its several advantages such as high thermal conductivity to provide thermal effect in warm acupuncture procedures. It offers rapid relief to patients as compared to other materials.

Asia-Pacific dominates the global market

Based on regions, the acupuncture market can be split into Asia Pacific, North America, Europe, Latin America and Middle East & Africa. In terms of regions, the acupuncture needles market is expected to grow rapidly in Asia Pacific. Presence of developing countries such as India, China, and Japan is anticipated to boost the market in the region. Acupuncture is a component of traditional treatment of China and is mostly availed in China and Japan. Increasing demand for acupuncture treatments in Asia Pacific is attributed to rapid growth in the medical tourism industry in the region. The market in Asia-Pacific is anticipated to grow rapidly, due to improvements in the healthcare infrastructure.

Compititive Landscape

Key players in the acupuncture needles market include 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., and Shinylink (Shanghai) Industrial Inc.

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Sheryl Dias
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