Global Acupuncture Needles Market Expected to Reach $177 Million by 2026

According to a new report published by Allied Market Research, titled, " Acupuncture Needles Market by Type, Material, and End User: Global Opportunity Analysis and Industry Forecast, 2018-2026," the global acupuncture needles market size was valued at $95.8 million in 2018 and is expected to reach $177 million by 2026, registering a CAGR of 8.2% from 2019 to 2026, in terms of value. 

Acupuncture is a method of treatment that includes interleaving thin needles over an individual’s skin at specific points on the body, to various depths. Acupuncture can help to relieve pain and is used for a wide range of other complaints such as neck pain, osteoarthritis, headache & migraine, and others. In addition, in 2003, the World Health Organization (WHO) listed a number of conditions in which acupuncture has been proven effective, including high and low blood pressure, chemotherapy-induced nausea and vomiting, some gastric conditions, including peptic ulcer, painful periods, dysentery, allergic rhinitis, facial pain, morning sickness, rheumatoid arthritis, sprains, and tennis elbow. Moreover, acupuncture needles are of smaller diameters than syringes, which makes them less likely to carry bacteria into tissues.

Surge in adoption of sedentary lifestyle, rise in obesity, and alcohol addiction are the major factors that drive the acupuncture needles market growth. In addition, increase in geriatric population across the globe and rise in awareness toward acupuncture treatment propels the acupuncture needles market growth. Moreover, no side effects and reduction in dependency on medications further fuels the acupuncture demand, thereby drives the acupuncture needles market. However, requirement of regular follow-ups adverse effects such as bleeding, infection, and pain due to needles, and no insurance coverage for acupuncture treatment are the factors anticipated to hamper the market growth.

By type, the disposable acupuncture needle segment accounted for 98% of the total market share in 2018, and is expected to exhibit a prominent growth rate in the near future, owing to its increased adoption across the globe for pain management. In addition, disposable acupuncture needle combats the risk of infection transmission. 

By material, the stainless-steel segment dominated the acupuncture needles market in 2018, and is anticipated to maintain its dominance during the forecast period. This is attributed to the surge in preference for stainless steel by manufacturers as it is cheap, in terms of price, compared to gold and silver needles. North America accounted for the majority of the global acupuncture needles market share in 2018 and is anticipated remain dominant during the forecast period. This is attributed to the urge in use and ease of availability of aesthetic lasers in this region. However, Asia-Pacific is anticipated to grow at the fastest rate during the forecast period, owing to the increased disposable income in developing economies such as India, China, and rise in awareness regarding laser technology.

Key Findings of the Acupuncture Needles Market :

• By type, the disposable needle segment accounted for the highest market share of 98% in 2018 and is anticipated to grow at the fastest rate during the forecast period.
• By region, Asia-Pacific was the major shareholder and accounted for the highest share of 48% in 2018. 
• By material, stainless steel segment is expected to grow at a CAGR of 8.2% during the forecast period.
• By end user, the hospital segment dominated the market in 2018 and is anticipated to maintain its dominance during the forecast period.

Comprehensive competitive analysis and profiles of major market players such as 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., and Asia Med GMbH, Cogmedix, Inc. are provided in this report.