At 4.90% CAGR, Global Acupuncture Needles Market to Surpass US$ 4,372.72 Mn By 2028, Forecast Report By Zion Market Research

The global acupuncture needles market size was worth USD 3,281.70 million in 2021 and is estimated to grow to USD 4,372.72 million by 2028, with a compound annual growth rate (CAGR) of approximately 4.90% over the forecast period. The report analyzes the acupuncture needles market’s drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the acupuncture needles market.

Acupuncture Needles Market: Overview

Acupuncture is part of traditional Chinese medical care. It is an alternative to medicine in which needles are inserted into specific pressure points in the body to stimulate nerves. It is mainly used to treat body aches, headaches, migraines, joint diseases, postoperative pain, nausea, menstrual cramps, insomnia, speech disorders, and paralysis. It is also used to treat emotional disorders (anxiety and depression), digestive disorders (nausea, vomiting, and irritable bowel syndrome), respiratory conditions (asthma and sinusitis), and is beneficial in alcoholism, chemotherapy, and gynecological disorders (infertility).

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The key driving factors for the global acupuncture needles market growth are the rising prevalence of chronic diseases, rise in sedentary lifestyle, obesity, and alcoholism. These illnesses have led to complications such as systemic pain, sleep disturbances, and emotional disturbances. In addition, the lack of severe side effects compared to drugs and unpleasant medical procedures are driving the demand for acupuncture. Although, adverse effects such as bleeding, infection & pain from needles, and lack of coverage for acupuncture treatments are hindering the market growth. In addition, raising awareness about acupuncture treatment is expected to bring new opportunities to the acupuncture needles market.

COVID-19 Impact:

Similar to other therapeutics, acupuncture has potential in the prevention, treatment, and rehabilitation of COVID-19 patients and in alleviating symptoms caused by COVID-19. This is obvious since acupuncture is part of Traditional Chinese Medicine (TCM), it is widely applied to treat respiratory ailments. Thus, these factors positively impacted the acupuncture needles market during the COVID-19 pandemic.

Key Insights

The global acupuncture needles market value is predicted to grow at a CAGR of 4.90% over the forecast period.
In terms of revenue, the global acupuncture needles market size was valued at around USD 3,281.70 million in 2021 and is estimated to grow to USD 4,372.72 million by 2028.
Rising prevalence of chronic diseases, rise in sedentary lifestyle, obesity, and alcoholism are driving the growth of the acupuncture needles market.
By product, the disposable needles segment dominated the market in 2021.
By material, the stainless-steel segment accounted for the most significant amount of market share in 2021.
In 2021, Asia-Pacific captured the largest revenue share of the global acupuncture needles market.

Acupuncture Needles Market: Growth Drivers

The changing lifestyles of individuals is aiding the global acupuncture needles market growth

With the shift in the type of work and working hours, people today have adapted to a very unhealthy lifestyle which is the main cause of all health problems. Back pain, headache, insomnia, body aches, alcoholism, obesity, and menstrual problems among women are major problems caused by disturbed living habits. In addition, the rising prevalence of chronic diseases, rise in sedentary lifestyle, obesity, and alcoholism drive the growth of the global acupuncture needles market. Acupuncture has shown positive and lasting effects in treating all these problems when combined with other forms of exercise such as yoga, running, walking, and meditation. This has escalated the acupuncture needles market by a large amount, adding to the monetary gains.

Acupuncture Needles Market: Restraints

The time-consuming process and high cost of treatment may hamper the global market growth

Acupuncture has been shown to be effective, as it also takes time, patience, and regular treatment to have lasting effects. Suppose the patient is not familiar with acupuncture, in that case, it can lead to human side effects such as discomfort, infection due to the reuse of needles without proper sterilization, pore bleeding where the needle is inserted, and itching. Due to these factors, acupuncture is not considered a medical innovation and health insurance companies do not cover prohibited fees from patients. Sometimes, due to the high cost of acupuncture, many patients do not comply with regular follow-up visits.

Acupuncture Needles Market: Opportunities

Technological advancement brings up several growth opportunities for the market

Acupuncture therapy is a rapidly evolving technology in the field of medicine. With the rapid development of technology in the world, people rush into a crazy race to make more money, which in turn leads to a very unhealthy lifestyle. All the extensive office work, disrupted sleep pattern, and poor eating habits have led to an increase in chronic diseases like back pain, higher anxiety levels, headaches, migraines, obesity, and menstrual cycle problems. Acupuncture using needles, laser cups, laser pens & rods, and cupping is very effective in curing all these lifestyle problems. Many hospitals and clinics have set up different centers for patients to opt for acupuncture. With governments also interested in these private activities, the global acupuncture needles market will be poised to grow and provide monetary returns for companies that have invested in making needles and other items used in acupuncture therapy.

Acupuncture Needles Market: Segmentation

The global acupuncture needles market is segregated on the basis of product, material, end-user, and region.

By product, the market is divided into disposable needles and non-disposable needles. Among these, the disposable needles segment dominates the market, accounting for a significant percentage of global sales due to the increasing demand for a more hygenic acupuncture needles treatment. The segment’s growth is primarily driven by multiple product-related advantages, such as the low risk of disease transmission from patient to patient and low cost. In addition, the majority of healthcare professionals recommend the use of disposable products for reasons of safety and availability. As a result, this segment will grow significantly during the forecast period.

By material, the market is bifurcated into stainless steel, gold, and silver. Over the forecast period, the stainless-steel segment is expected to develop at the fastest rate due to its ease of use and low cost of stainless steel acupuncture needles. Furthermore, most of the major companies are supplying stainless steel needles all over the world compared to other types of needles.

The end user categorizes the market into hospitals, clinics, and others. Among these, the hospital segment is expected to dominate the market during the forecast period as individuals prefer to get better treatment and all facilities which are mostly available in hospitals. This supports the hospital segment growth during the forecast period.

Recent Developments

2020 – Alumni of the American College of Traditional Chinese Medicine (ACTCM) offered free acupuncture in France as part of a promotional approach to increase their clientele.
2020- The New Zealand Association of Chinese Medicine and Acupuncture (NZCMAS) partnered with the New Zealand College of Chinese Medicine (NZCCM) to increase the number of qualified acupuncturists in the country.

Acupuncture Needles Market: Regional Landscape

Asia Pacific region is noted to dominate the global acupuncture needles market

Asia-Pacific dominated the global acupuncture needles market and accounted for a significant revenue share in 2021. Developing countries such as China, India, and Japan are expected to drive market growth in the region. Acupuncture is a traditional Chinese treatment widely used in China and Japan. Furthermore, the rapid growth of medical tourism in these countries can also be attributed to the increased demand for acupuncture treatments in this region.

In North America, the acupuncture needles market is expected to witness significant growth during the forecast period. The regional market is mainly driven by the increasing prevalence of diabetes and hypertension. In addition, the increasing number of surgeries is expected to increase patients’ need for acupuncture treatment.

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Competitive Landscape

Some of the main competitors dominating the global acupuncture needles market include:

3B SCIENTIFIC GMBH
AcuMedic Ltd.
Asia-med GmbH
SEIRIN
Dana Medical Co.
Suzhou Hualun Medical Appliance Co. Ltd
Shinylinki Shanghaiï Industrial Inc.
Boen Healthcare Co. Ltd.
WUXI JIAJIAN MEDICAL DEVICES CO. LTD.
Suzhou Zhongjing Life & Science Technology Co., Ltd.

Global acupuncture needles market is segmented as follows:

By Product

Disposable Needles
Non-disposable Needles

By Material

Stainless Steel
Gold
Silver

By End-use

Hospital
Clinics
Others

By Region

North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

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