Acupuncture Needles Market: Introduction
- Acupuncture is promoting balance and harmony on all levels by stimulating the energy flow, the CHI, with tiny needles placed on energy spots. Acupuncture is the most common type of traditional healing system. It originated in China more than 2000 years ago. Acupuncture needles are thin, solid metallic needles used to stimulate body surface for treatment of pain.
- Acupuncture is most commonly used to treatment of pain such as headache, migraine, joint conditions, post-operative pain, nausea, and paralysis
Key Drivers of Global Acupuncture Needles Market
- The global acupuncture needles market is projected to be driven by rise in prevalence of chronic diseases such as cancer in developed and developing countries
- According to the Arthritis Foundation, arthritis is the leading cause of disability in the U.S. Approximately 54 million individuals suffer from arthritis and the number is expected to reach 78 million by 2040.
- Acupuncture is beneficial in managing pain caused by chemotherapy. Increase in incidence of cancer drives the demand for chemotherapy procedures. This, in turn, contributes to the growth of the global acupuncture needles market.
- Preference for traditional treatment techniques is a rising trend among patients. Acupuncture therapy has no severe side effects which fuels the demand for acupuncture therapy. This, in turn, increases the demand for acupuncture needles among practitioners.
- Acupuncture needle are regulated by U.S. Food and Drug Administration (FDA) under good manufacturing practices and single-use standards of sterility. Thus, evolving regulatory scenario is expected to propel the acupuncture needles market during the forecast period.
North America to Account for Significant Share of Global Acupuncture Needles Market
- North America was the leading market for acupuncture needles in 2018, driven by rise in adoption of traditional healing technologies for pain management. Acupuncture is widely available in the U.S. and is typically practiced in a private setting.
- Rise in prevalence of cancer in the geriatric population is expected to propel the market in North America during the forecast period. Acupuncture therapy is used for pain management in cancer patients undergoing chemotherapy.
- According to the American Cancer Society, nearly 252,710 new cases of cancer were diagnosed in the U.S. in 2017 and the incidence rate is expected to increase substantially in the next few years
- Explosion of interest in the U.S. and Europe in the application of the technique of acupuncture to western medicine is expected to drive the acupuncture needles market in North America and Europe
- Asia Pacific is projected to be the fastest growing market for acupuncture needles during the forecast period due to improving health care infrastructure. Rise in number of acupuncture therapy centers is likely to fuel the growth of the global acupuncture needles market in Asia Pacific.
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Key Players Operating in Global Acupuncture Needles Market
Major players in the global acupuncture needles market are:
- Boen Healthcare Co., Ltd.
- 3B Scientific GmbH
- Shinylink?Shanghai?Industrial, Inc.
- Wuxi Jiajian Medical Equipment Co., Ltd.
Global Acupuncture Needles Market: Research Scope
Global Acupuncture Needles Market, by Type
Global Acupuncture Needles Market, by Material
- Stainless Steel
Global Acupuncture Needles Market, by End-user
- Specialty Clinics
- Educational & Research Institutes
Global Acupuncture Needles Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa