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A recent report published by Infinium Global Research on acupuncture needle market provides in-depth analysis of segments and sub-segments in the global as well as regional acupuncture needle market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional acupuncture needle market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global acupuncture needle market. The global acupuncture needle market was valued at over USD 250 million in 2022 and is expected to reach nearly USD 400 million in 2030, with a CAGR of around 5% during the forecast period 2023-2030.
Acupuncture is a practice rooted in traditional Chinese medicine that involves inserting needles into specific pressure points on the body to stimulate the nerves. This alternative form of medicine is primarily used to alleviate pain in various parts of the body, including headaches, joint conditions, post-operative pain, and menstrual cramps. Additionally, it can help treat a range of other conditions such as nausea, insomnia, speech disorders, and paralysis. Moreover, acupuncture is effective in treating emotional disorders like anxiety and depression, as well as digestive disorders such as irritable bowel syndrome and vomiting. It can also benefit respiratory conditions like asthma and sinusitis, as well as assist with addiction recovery, chemotherapy, and gynecological issues like infertility.
The acupuncture needles market is growing due to various factors such as an increase in the prevalence of chronic diseases, sedentary lifestyles, obesity, and alcohol addiction. These conditions have resulted in complications like body pain, sleep disturbances, and emotional disorders. Additionally, the rise in health complications among the elderly population and the prevalence of gynecological disorders due to hectic lifestyles are also driving the market growth. Moreover, acupuncture is preferred over medication due to the lack of severe side effects and the reduction in dependency on drugs and unpleasant medical procedures. This factor is also boosting the demand for acupuncture and contributing to the growth of the acupuncture needles market. However, regular follow-up treatments required by acupuncture can be a hindrance for some patients. Also, the potential for adverse effects such as bleeding, infection, and pain from needles, as well as a lack of insurance coverage for acupuncture treatments, may hinder the market growth. Despite these challenges, the growing awareness of acupuncture treatments provides new opportunities for the acupuncture needles market.
The market is divided into four categories based on geographies such as Asia Pacific, North America, Europe, and the Rest of the World. The Asia-Pacific region held the largest market share in acupuncture treatment and is expected to maintain this trend during the forecast period. The increased adoption of acupuncture in this region, along with a preference for traditional treatment methods, including acupuncture, are significant factors propelling the market growth. Additionally, countries like Japan, China, and India offer private health insurance coverage for acupuncture treatment, which is expected to drive further adoption and growth in the region. However, North America is expected to experience the fastest growth rate during the forecast period, primarily due to the increasing acceptance of acupuncture as a pain management treatment method. The rise in the prevalence of conditions such as migraine, lower back pain, and osteoarthritis has also led to a surge in demand for acupuncture treatment in this region. In recent years, acupuncture has been more widely and extensively used in the U.S. market.
The report on global acupuncture needle market covers segments such as type, material, end-use, and distribution channel. On the basis of type, the sub-markets include disposable needles, and non-disposable needles. On the basis of material, the sub-markets include stainless steel, gold, and silver. On the basis of end-use, the sub-markets include hospital, clinics, and others. On the basis of distribution channel, the sub-markets include online pharmacies, and offline pharmacies.
The report provides profiles of the companies in the market such as 3B Scientific, AcuMedic Ltd., asia-med GmbH, Boen Healthcare Co., Ltd., Wuxi Jiajian Medical Instrument Co.,Ltd., Suzhou Zhongjing Life & Science Technology Co.,Ltd, Phoenix Medical Ltd., MeyerDC, DongBang AcuPrime, and Other Companies.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the acupuncture needle market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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