Global Acupuncture Needles Market: Overview
A rise in the incidence of various chronic diseases such as obesity, diabetes, and various autoimmune diseases is likely to foster growth of the global acupuncture needles market over the timeframe of analysis, from 2019 to 2029. In addition, increased adoption of sedentary and unhealthy lifestyles, smoking, and consumption of alcohol are some of the leading factors contributing toward prevalence of several chronic diseases, such as diabetes. This factor is estimated to drive the demand for acupuncture needles in the years to come.
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In accordance with the report titled National Diabetes Statistic Report 2017, published by Centers for Disease Control and Prevention (CDC), nearly 100 million people in the US are suffering from pre-diabetes or diabetes conditions. Such a huge base of diabetic patient is likely to emerge as a growth factor for the global acupuncture needles market in the years to come.
Product, material, end use, and region are the four key parameters based on which the global acupuncture needles market has been divided. The objective of such segmentation is to offer a clearer, 360-degree view of the market.
Global Acupuncture Needles Market: Notable Developments
The global acupuncture needles market has witnessed significant developments in the recent years. One of such developments pertaining to the market is mentioned below:
- In March 2020, Ora Acupuncture, a new acupuncture center, was opened in New York, the US. In this new center, high quality acupuncture treatment options are offered to its customers.
Some of the key players in the global acupuncture needles market comprise the below-mentioned:
- Suzhou Zhongjing Life & Science Technology Co., Ltd
- 3B Scientific GmbH
- Boen Healthcare Co., Ltd
- Shinylink (Shanghai) Industrial Inc
- AcuMedic Ltd
- Dana Medical Co.
Global Acupuncture Needles Market: Key Trends
The following drivers, restraints, and opportunities characterize global acupuncture needles market over the assessment period, from 2019 to 2029.
Increased Prevalence of Chronic Diseases is Likely to Bolster Demand in the Market
Acupuncture is considered advantageous in the management of pain inflicted by chemotherapy process. Rise in the number of cancer cases across the globe drives the need for chemotherapy processes, which is anticipated to foster growth of the global acupuncture needles market over the timeframe of analysis, from 2019 to 2027. Increasing number of patients opt for traditional techniques of treatment. In addition, acupuncture therapy does not come with serious side effects, thereby generating considerable demand for the therapy. This factor is likely to trigger growth of the global acupuncture needles market in the near future.
There has been a rise in the number of surgeries, thanks to the augmented prevalence of chronic conditions. Usually surgical wounds are large, painful and are deep. In cases such as this, acupuncture offers effective relief and alleviates pain in patients. Acupuncture also assist in conquering post-surgical trauma, which is likely to augur well for the global acupuncture needles market over the timeframe of analysis, from 2019 to 2029.
Global Acupuncture Needles market: Geographical Analysis
Asia Pacific is estimated to dominate the global acupuncture needles market over the timeframe of analysis, from 2019 to 2029. The region is driven by countries like Japan, India, and China, where acupuncture is a popular practice and the services are availed by many. In China, it is a traditional treatment and has its roots in ancient times. Medical tourism is thriving in Asia Pacific, particularly in countries like China, India, Thailand, and so on. With the flourishing of medical tourism, accupunture services are estimated to gather considerable popularity in this region.
The global acupuncture needles market is segmented as:
- Disposable Needles
- Non-disposable Needles
- Stainless Steel
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