The global acupuncture needles market is anticipated to value USD 187.8 million until 2027. It is also expected to register a CAGR of 8.0% over the forecasted years, 2020 to 2027. The surging prevalence of various chronic diseases and the increasing geriatric population across the globe is projected to augment market growth.
The hospital end-use segment held the dominant share of 44.0% across the global market owing to the increasing number of ulcer cases related to venous leg and diabetic foot prevailing among the patients across the globe. The clinical segment is expected to register significant growth due to the rising number of clinics across the globe.
In 2019, the segment of stainless steel needles dominated the global market with a 44.1% share on account of salient features such as low cost and ease of availability. On the other hand, the silver needles segment is projected to register significant growth in the upcoming years due to their property of thermal conductivity.
The Asia Pacific accounted for the highest share of 45.3% across the global market in 2019 as it is widely accepted as an effective and authentic medical treatment in countries like China and Japan. North America is also expected to witness significant growth over the forecasted period, 2020 to 2027 due to the rising number of hypertension and diabetes problems among the geriatric population across the U.S.
The market for acupuncture needles across the globe includes key players such as Boen Healthcare Co., Ltd., AcuMedic Ltd., 3B SCIENTIFIC GMBH, Dana Medical Co., and SEIRIN. They are undertaking huge efforts to commercialized acupuncture treatment across the globe which is expected to open up new avenues for market growth.
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Further key findings from the report suggest:
• In 2019, the hospitals end-use segment held the dominant share of 44.0% across the global market.
• The stainless steel material segment accounted for the highest CAGR across the global market from 2020 to 2027.
• Asia Pacific accounted for the highest share of 45.3% across the global acupuncture needles market in 2019.
• The key players operating in this market are Boen Healthcare Co., Ltd., AcuMedic Ltd., 3B SCIENTIFIC GMBH, Dana Medical Co., and SEIRIN.
Million Insights has segmented the global acupuncture needles market on the basis of product, material, end-use, and region:
Acupuncture Needles Product Outlook (Revenue, USD Million, 2015 - 2027)
Acupuncture Needles Material Outlook (Revenue, USD Million, 2015 - 2027)
• Stainless Steel
Acupuncture Needles End-use Outlook (Revenue, USD Million, 2015 - 2027)
Acupuncture Needles Regional Outlook (Revenue, USD Million, 2015 - 2027)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• Latin America
• South Africa
• Saudi Arabia