Global Acupuncture Needles Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029

“Global Acupuncture Needles Market” is the title of an upcoming report offered by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in to various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global acupuncture needles market has been segmented on the basis of product, material, end-use, as well as regions and countries.

Overview:

Acupuncture is a form of alternative medicine and a key component of traditional Chinese medicine in which needles are inserted into the body. These needles are very thin and are inserted to various depths at strategic points on an individual’s body.

Dynamics:

The gradual increase in chronic diseases such as obesity, diabetes, and other autoimmune diseases owing to various factors like the adoption of unhealthy lifestyles, excessive smoking and alcohol consumption, antimicrobial resistance, etc., has resulted in large numbers of individuals seeking alternative forms of therapy/medicine. This is a primary factor that is expected to continue influencing the global acupuncture market over the next 10 years.

Moreover, hypertension affects over 1.13 billion individuals across the globe, and diabetes is the primary cause of hypertension. Acupuncture has been proven to extensively aid patients suffering from these ailments. This is another factor that is slated to contribute to future market growth of the global acupuncture needles industry.

However, in light of the recent COVID-19 outbreak, the operations of numerous industries have been either temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global acupuncture needles industry is no different, and this factor is expected to negatively impact on market growth in the years to come. Additionally, if a specific patient suffers from a bleeding disorder or consumes blood thinners, acupuncture could prove to be fatal. This is also a factor that may restrain market growth of this global industry in the near future.

Nonetheless, as the ever-growing geriatric populations across the world are more susceptible to the onset of chronic diseases and other related disorders, the demand for acupuncture therapy is expected to subsequently increase, and this is a factor that is anticipated to fuel the revenue growth of the global acupuncture needles market over the forecast period.

Segmentation of the global acupuncture needles market is as follows:

In terms of product, the disposable needles segment accounted for the maximum number of revenue shares of the global acupuncture needles market in 2020, and is indicative of indexing the highest CAGR in the years to come. The non-disposable needles segment is also slated to register considerable revenue growth over the forecast period.

On the basis of end-use, the hospitals segment constituted the majority number of revenue shares of the global acupuncture needles market in 2020, and is anticipated to register a considerably high rate of revenue growth in the years to come. The clinics segment is also expected to index a considerable rate of revenue growth in the coming years, due to the increasing number of surgical procedures being carried out across the world, as well as the number of active clinics.

With regards to material, the stainless steel segment accounted for the maximum number of revenue shares in 2020, and is slated to register that fastest rate of revenue growth over the next decade. The silver needles segment is also expected to register considerable revenue growth in the foreseeable future.

Regional Segmentation and Analysis:

The markets in the Asia Pacific region accounted for the highest number of revenue shares of the global acupuncture needles market in 2020, and is anticipated to register the highest CAGR over the forecast period.  This can be attributed to acupuncture being a traditional Chinese medicine, and as such, is practiced far more frequently in this region. The markets in North America and Europe are also expected to register considerable revenue growth in the years to come.

Segmentation of the Global Acupuncture Needles Market:

Segmentation by Product:

• Disposable Needles
• Non-disposable Needles

Segmentation by Material:

• Stainless Steel
• Gold
• Silver

Segmentation by End-Use:

• Hospital
• Clinics
• Others

Segmentation by Regions:

• North America
• Europe
• APAC
• South America
• MEA