Acupuncture Needles Market Expected to Grow Due to Rising Acceptance of Alternative Therapies | CAGR of 8.2% 2019 - 2026

PORTLAND, OREGON, UNITED STATES, April 17, 2024 /EINPresswire.com/ -- 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.

The global acupuncture needles market size was valued at $95.80 million in 2018 and is expected to reach $177.79 million by 2026, registering a CAGR of 8.2% from 2019 to 2026.

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Prime determinants of growth

Surge in acupuncture adoption for pain management, increase in gynecological disorders, and rise in health complications in aging population drive the growth of the global acupuncture needles market. However, increase in infections caused by usage of reusable needles and availability of alternative hinder the market growth. On the other hand, significant increase in adoption due to fewer side effects in comparison to medications and reduced dependency on medications present new opportunities in the industry.

The disposable needles segment dominated the global acupuncture needles market in 2018, accounting for nearly 98% of the revenue share. This segment is expected to maintain its leading position and grow at the fastest CAGR of 8.2% from 2019 to 2026. The growth is driven by increasing awareness of infections and heightened safety concerns. The research also sheds light on the non-disposable needles segment.

"Hospitals Segment Holds Majority Share, While Acupuncture Clinics to See Rapid Growth"

In terms of end-users, hospitals held the largest market share, contributing to over two-thirds of the total market in 2018. They are projected to maintain this dominance due to a growing preference for comprehensive treatment. However, acupuncture clinics are expected to witness the fastest CAGR of 9.5% during 2019-2026, attributed to shorter waiting times for treatments.

"North America Leads Growth, Asia-Pacific Remains Largest Market"

North America is forecasted to grow at the fastest CAGR of 9.1% from 2019 to 2026, driven by increased awareness of acupuncture and the ongoing opioid crisis. Meanwhile, Asia-Pacific, which accounted for over half of the global market in 2018, is expected to continue its lead due to the region's tradition of using acupuncture for pain management.

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Key Players in the Acupuncture Needles Market

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.
Asia Med GMbH
Cogmedix, Inc.

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