USD 228.26 million
Acupuncture Needles Market Size, Share, Growth Analysis, By Type(Disposable Needles, Non-Disposable Needles), By Materials(Stainless Steel, Gold) - Industry Forecast 2024-2031
Report ID:
SQMIG35B2181 |
Region:
Global |
Published Date: July, 2001
Pages:
165
|
Tables:
62 |
Figures:
75
Acupuncture Needles Market Insights
Acupuncture Needles Market size was valued at USD 228.26 million in 2019 and is poised to grow from USD 240 million in 2023 to USD 363.36 million by 2031, growing at a CAGR of 5.1% in the forecast period (2024-2031).
Thin metallic needles used in acupuncture are placed into the patient's skin at particular pressure points. The body responds when the needles stimulate the nerves, releasing chemicals like endorphins. They are frequently offered in disposable and non-disposable varieties made of stainless steel, gold, and silver. They help in the treatment of gastrointestinal, gynaecological, joint, and paralysing conditions. Acupuncture needles are less expensive than injectable needles, because they have rounded tips with little chance of cutting tissue, bleeding, infection, or pain.
The market is anticipated to expand because to the increased prevalence of chronic conditions such diabetes, autoimmune diseases, and obesity among millennials. The main reason of the rise in chronic diseases is a combination of variables, including the adoption of sedentary and unhealthy lifestyles, excessive alcohol consumption, and smoking. The use of acupuncture needles is anticipated to grow quickly in the next years because it is an effective treatment for chronic illnesses. The market is expected to be further fueled by additional factors such as rising consumer healthcare costs and the expanding use of acupuncture for the treatment of emotional disorders and drug addictions.
US Acupuncture Needles Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Disposable Needles
Fastest Growth
Disposable Needles
Growth Rate
5.1% CAGR
Global Acupuncture Needles Market ($ Mn)
Country Share for North America Region (%)
Global Acupuncture Needles Market By Service Type ($ Mn)
Global Acupuncture Needles Market By Service Type (%)
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Acupuncture Needles Market Segmental Analysis
The global acupuncture needles market segmentation is based on type, material, and region. Based on type the Acupuncture Needles Market is segmented into disposable needles and non-disposable needles. Based on material the Acupuncture Needles Market is segmented into stainless steel, gold, and silver. Based on region the global acupuncture needles market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Acupuncture Needles Market Analysis by Type
The market for disposable needles, which accounted for the highest share in 2021, is predicted to increase at the fastest rate during the forecast 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. In addition, due to accessibility and safety concerns, the majority of healthcare specialists advise using disposable items. Thus, during the course of the forecast year, significant segment expansion is anticipated.
Acupuncture Needles Market Analysis by Material
The market share leader in 2021 was stainless steel, and during the forecast period, stainless steel is expected to increase at the quickest rate. The stainless steel acupuncture needles are used extensively because they are readily available and inexpensive. In addition, compared to other needles, the majority of the major competitors offer stainless steel needles globally.
Due to their numerous benefits, including their efficient thermal impact in warm acupuncture procedures due to their high thermal conductivity, the silver needles are predicted to experience a moderate growth rate over the forecast period. Additionally, compared to other materials, it provides patients with better and quicker relief.
Global Acupuncture Needles Market By Service Type, 2023 (%)
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Acupuncture Needles Market Regional Insights
Due to the region's expanding healthcare infrastructure, Asia Pacific is anticipated to see the quickest rate of acupuncture needle market growth throughout the forecast period. In China and Japan, acupuncture is widely recognised as a genuine and efficient medical procedure. Additionally, the expanding medical tourism sector is anticipated to significantly fuel market expansion. The expansion of the acupuncture needles market in Asia Pacific is projected to be fueled by an increase in the number of acupuncture therapy facilities.
During the projection period, North America is also anticipated to experience considerable expansion. Due to an unbalanced work-life balance, the millennial population is experiencing an increase in hypertension and diabetes problems, which has had a significant impact on market growth in this area. Additionally, the demand for acupuncture procedures is being sparked by the increase in surgical operations across North America. In 2021, the U.S. had 87.5% of the market for acupuncture treatments in North America, and it is anticipated that it would maintain this position during the forecast period.
Global Acupuncture Needles Market By Region, 2024-2031
- Largest
- Fastest
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Acupuncture Needles Market Dynamics
Acupuncture Needles Market Driver
- Increased prevalence of chronic diseases leads to more procedures being done. The majority of surgical wounds are fairly large, deep, and uncomfortable. Acupuncture helps individuals in these situations feel better physically and mentally. Additionally, it aids in overcoming post-surgical trauma, which boosts demand for this therapy internationally. Therefore, it is projected that an increase in surgeries would lead to an increase in demand for acupuncture procedures, which will drive the worldwide acupuncture needles market.
- A significant reason driving up demand for surgical kits is the rise in injury occurrences. Traffic collisions have significantly increased. There have been an alarmingly large number of cases of traumatic brain injury documented in nations including Thailand, India, Australia, China, and Malaysia. Thus, an increase in surgeries is a major driver of the worldwide acupuncture needles market.
Acupuncture Needles Market Restraint
- A number of issues that jointly change the market approach for the upcoming predicted years are influencing the demand for acupuncture treatments. Although the use of acupuncture has increased, some variables point to lower adoption standards since there are no helpful reimbursement rules for patients receiving treatment. Due to the limited availability of compensation standards for acupuncture, patients are increasingly paying out of pocket, which has a negative impact on patient demand and some degree of market growth.
- Licensed acupuncturists are less likely to receive reimbursement or have received it at a lower rate than physicians. With many nations lacking a regulatory framework for acupuncture therapies, there is a lack of a well-established regulatory framework that can be widely acknowledged. The market for acupuncture needles will probably be constrained as a result.
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Acupuncture Needles Market Competitive Landscape
Since there are so many manufacturers, the market is very fragmented. They are constantly working to make acupuncture treatments more widely available for purchase. As a result, they have begun initiating efforts to raise awareness of the advantages of this treatment. The millennial generation's increased awareness has created a variety of opportunities for new players looking to break into the expanding industry.
Acupuncture Needles Market Top Players Company Profiles
- AcuMedic (UK)
- Seirin Corporation
- Suzhou Medical Appliance Factory
- Empecs Medical Co., Ltd.
- Dongbang Acupuncture Inc.
- Wuxi Jiajian Medical Instruments Co., Ltd.
- Asia Med Needle Co., Ltd.
- Wujiang Jiachen Acupuncture Products Co., Ltd.
- Shinylink (Shanghai) Industrial Inc.
- AtoZ Medical Co., Ltd.
- Cloud & Dragon Medical Devices Co., Ltd.
- Suzhou Hualun Medical Appliance Co., Ltd.
- Beijing VCA Laser Technology Co., Ltd.
- DongBang AcuPrime Inc.
- AcuStar Therapy System Inc.
- Acupuncture Supplies Ltd.
- Shenzhou Medical Supplies Corporation
- Helio Medical Supply Co., Ltd.
- Shandong Zhongtian Medical Technology Co., Ltd.
- Wujiang City Cloud & Dragon Medical Devices Co., Ltd.
Acupuncture Needles Market Recent Development
Acupuncture Needles Key Market Trends
- Patients are increasingly favouring conventional therapeutic methods. The lack of serious side effects from acupuncture therapy increases its popularity. The requirement for acupuncture needles among practitioners rises as a result. Acupuncture needles are frequently referred to as "painless needles" because to their small size. Despite being so small, acupuncture needles have blunt tips.
Acupuncture Needles Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, during the forecast period, the market for disposable needles, which had the most share in 2021, is expected to grow at the quickest rate. Stainless steel held the largest market share in 2021, and it is anticipated to grow at the fastest rate over the forecast period. Asia Pacific is predicted to have the fastest rate of acupuncture needle market expansion throughout the course of the forecast period due to the region's developing healthcare infrastructure.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 228.26 million |
| Market size value in 2031 | USD 363.36 million |
| Growth Rate | 5.1% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Acupuncture Needles Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Acupuncture Needles Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Acupuncture Needles Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Acupuncture Needles Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Acupuncture Needles Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Acupuncture Needles Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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