The global acupuncture needles market was valued at $95.8 million in 2018 and is expected to reach $177.7 million by 2026, registering a CAGR of 8.2% from 2019 to 2026. Acupuncture needles are used as pain relievers, as they provide muscle relaxation and relieve pain & stress. This energy is circulated through the body via several energy pathways called meridians. Each of these pathways or channels are linked to an internal organ. It is mostly used to treat body pain, headache, migraines, joint conditions, post-operative pain, nausea, menstrual cramps, insomnia, speech disorders, and paralysis.
The adoption of acupuncture needles for pain management has increased over a period. This is attributed to the fact that chronic pain management has become a global health concern, which considerably increases the use of acupuncture needles. Furthermore, a significant increase in the adoption of acupuncture needles in developed economies, such as the U.S., acts as a key driver for the global market. However, due to insertion of needles to a certain depth in human skin, the practice of acupuncture may pose risks to the recipients. Transmission of pathogenic microorganisms is one of the most crucial acupuncture associated complications. Thereby, increased risk of infection transmission poses as a restrain for the market growth. Furthermore, its rise in popularity, particularly in developed nations, can be attributed to its effectiveness against pain relief and the fact that scientific studies have begun to prove its efficacy. Acupuncture treatment is now increasingly used for various conditions in addition to pain management, thereby, creates lucrative opportunities for the market.
The market is segmented on the basis of type, material, end-users, and region. By type, it is bifurcated into disposable needles and non-disposable needles. By material, it is categorized into stainless steel, gold, and silver. By end-users, it is segmented into acupuncture clinics, hospitals, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the market along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers a quantitative analysis from 2018 to 2026, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
- Comprehensive analysis of all geographical regions is provided to determine the prevailing opportunities.
- Key players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the global market.
KEY MARKET SEGMENTS
- Disposable Needles
- Non-disposable Needles
- Stainless Steel
- North America
- ·Rest of Europe
- Asia Pacific
- ·Rest of Asia-Pacific
- ·Saudi Arabia
- ·South Africa
- ·Rest of LAMEA
LIST OF KEY PLAYERS PROFILED IN THE REPORT
- Seirin Corporation
- Empecs Medical Co. Ltd
- Suzhou Tianxie Acupuncture Instruments Co., Ltd
- AcuMedic Ltd
- Qingdao Great Fortune Co., Ltd
- AcuSupply Inc.
- 3B Scientific GmbH
- Lhasa OMS, Inc.
- Asia Med GMbH
- Cogmedix, Inc.