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Aug 17, 2023

Acupuncture Needles Market to Secure USD 200 Mn Revenue by 2031, Fueled by 5% CAGR

One of the main drivers of acupuncture needles market expansion is the rise in

One of the main drivers of acupuncture needles market expansion is the rise in chronic diseases like diabetes, obesity, and other autoimmune diseases around the world as a result of things like unhealthy and sedentary lifestyles, excessive alcohol consumption, antimicrobial resistance, and smoking.

Wilmington, Delaware, United States, May 23, 2023 (GLOBE NEWSWIRE) -- The global acupuncture needles market is likely to register a CAGR of 5% from 2021 to 2031. In 2020, the market for acupuncture needles was estimated at US$ 122.78 million and it is anticipated to reach US$ 200 million by 2031.

The frequency of procedures has also grown as a result of the rise in chronic illnesses. The majority of surgical wounds are painful, deep, and somewhat big in size. Acupuncture effectively relieves the patients' bodily and emotional suffering in these situations. The demand for this therapy is rising internationally as a result of the fact that it also aids in the recovery from post-surgical trauma. It is projected that the growing number of surgeries would raise demand for acupuncture treatments, driving the market for acupuncture needles to expand.

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One of the primary causes of the increased demand for acupuncture is the rising incidence of diabetes and hypertension. In 2019, the WHO issued a study estimating that 1.13 billion people globally have hypertension. Hypertension, which is thought to afflict around 1.00 billion people worldwide, is mostly brought on by diabetes.

People who have long-term diabetes frequently develop severe diabetic leg ulcers. In these situations, acupuncture therapy aids patients with these diseases in lessening their discomfort. It also aids in decreasing hypertension, propelling the market for acupuncture needles to rise throughout the forecast period by providing mental comfort.

The Global Market for Acupuncture Needles: Key Trends

The market share of disposable needles, which was substantial in 2020, is expected to rise at the quickest rate throughout the projected period. The low danger of disease transmission from patient to patient and the product's inexpensive cost are two of the many benefits that are contributing to the segment's growth. Due to safety concerns and their widespread availability, disposable goods are generally recommended by healthcare practitioners. Over the projection period, significant sector growth is expected.

In 2020, a substantial portion of the acupuncture needles market belonged to hospitals. The primary drivers of sector expansion are the rising incidences of venous leg ulcers as well as diabetic foot ulcers.

The segment's expansion is also being fueled by an increase in surgical wound cases as a result of more operations being performed. Such factors may promote sector expansion during the projection period as acupuncture therapy aids in lessening the pain brought on by SSI wounds.

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Key Findings of the Market Report

Stakeholders and medical professionals need to raise knowledge about the distinction between genuine acupuncture as well as sham acupuncture in order to promote market growth.

In 2020, the market for disposable acupuncture needles accounted for more than 31% of the overall market share.

In terms of material, the stainless-steel market for acupuncture needles was dominant in 2020.

Global Acupuncture Needles Market: Regional Outlook

In 2020, the acupuncture needles market was dominated by the Asia Pacific region. It is projected that the presence of growing nations like Japan, China, and India would accelerate market expansion in the area. Acupuncture is a popular traditional Chinese medicine option in both China and Japan. The surge in demand for acupuncture treatments in this region might also be related to the fast expanding medical tourism business in these nations.

The demand for acupuncture needles in North America is predicted to expand at a rapid rate during the forecast period. The regional market is primarily being driven by the increase of hypertension and diabetes cases in the area. The demand for acupuncture therapy among patients is also predicted to rise along with the number of surgical operations.

Global Acupuncture Needles Market: Key Players

3B Scientific

AcuMedic

asia-med GmbH

Dana Medical Co., Ltd.

Boen Healthcare Co., Ltd.

Suzhou Hualun Medical Appliance Co., Ltd.

Wuxi Jiajian Medical Devices Co., Ltd.

Suzhou Zhongjing Life & Science Technology Co., Ltd.

Shinylink (Shanghai) Industrial, Inc.

Changchun Aikang Medical Devices Co., Ltd.

MeyerDC

DongBang AcuPrime

Others

Some developments by the key players in the global market for acupuncture needles are:

Ora Acupuncture, a brand-new acupuncture facility, opened its doors in the United States in March 2020. Customers can pay $50 to $120 for a 30- or 50-minute rapid acupuncture session from one of Ora's five acupuncturists who have received traditional Chinese medicine training.

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Global Acupuncture Needles Market Segmentation

Type

Disposable

Reusable

Material Type

Silver

Copper

Tinplate-galvanized Iron

Stainless Steel

Others

Application

Arthritis

Back Pain, Neck Pain, or Muscle Pain

Headaches & Migraines

Knee Pain

Menstrual Cramps

Sports Injuries

Others

Distribution Channel

Hospital

Acupuncture Clinics

Others

By Region:

North America

Latin America

Europe

Asia-Pacific

Middle East and Africa

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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