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Acupuncture Needles Market Key Players, Growth Rate, Sales, Demands, Volume and Forecasts to 2027

03-21-2023 02:16 PM CET | Health & Medicine

Press release from: ReportsnReports

Acupuncture Needles Market

Acupuncture Needles Market

The global acupuncture needles market is projected to reach USD 308 million by 2027 from USD 240 million in 2022, at a CAGR of 5.1% during the forecast period. Growth in this market is mainly driven by growing prevalence of musculoskeletal pain such as back, neck, and muscle pain.

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"The disposable accounted for the highest growth rate in the acupuncture needles market, by type, during the forecast period."

Based on type, the acupuncture needles market is segmented into disposable and non-disposable needles. Disposable needles accounted for a larger share of the acupuncture needles market in 2021. The risk of transmission of diseases from one patient to another from the use of disposable needles.

"Stainless-steel systems segment accounted for the highest CAGR."

Based on handle material, the acupuncture needles market is segmented into stainless steel, gold, silver, plastic, and copper. The stainless-steel handle needles segment is expected to grow at the highest CAGR during the forecast period owing to the lower pricing of stainless steel and easy accessibility.

"The clinics accounted for the highest growth rate in the acupuncture needles market, by end user, during the forecast period."

Based on end user, the acupuncture needles market is segmented into hospitals and clinics. The clinics segment dominated the acupuncture needles market in 2021. The increasing number of acupuncturists worldwide is the key factor driving the growth of this market segment.

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"Europe: The fastest-growing region acupuncture needles market."

The global acupuncture needles market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. In 2021, the Asia Pacific accounted for the largest share of the acupuncture needles market, followed by Europe. Europe is estimated to be the fastest-growing regional market for acupuncture needles, majorly due to increasing government supportive policies and a well-established medical device industry.

The primary interviews conducted for this report can be categorized as follows:

By Company Type: Tier 1 - 40%, Tier 2 - 30%,and Tier 3 -30%
By Designation: C-level - 27%, D-level - 18%, and Others - 55%
By Region: North America -51%, Europe - 21%, Asia Pacific - 18%, Latin America - 6%, and the Middle East & Africa - 4%

Lists of Companies Profiled in the Report:

Boen Healthcare Co., Ltd. (China)
3B Scientific GmbH (Germany)
Suzhou Zhongjing Life & Science Technology Co., Ltd. (China)
Wuxi Jiajian Medical Instruments Co., Ltd. (China)
AcuMedic Ltd. (UK)
Changchun AIKANG Medical Devices Co., Ltd. (China)
HEGU Svenska AB (Sweden)
Suzhou Hualun Medical Appliance Co., Ltd. (China)
asia-med GmbH (Germany)
SEIRIN Corporation (Japan)
DongBang Medical Co., Ltd. (South Korea)
Haeng Lim Seo Won Medical Company (South Korea)
Suzhou Medical Appliance Factory (Suzhou Hwato) Co., Ltd. (China)
Shinylink (Shanghai) Industrial Inc. (China)
schwa-medico GmbH (Germany)
Phoenix Medical Ltd. (UK)
EU PEAK International Co., Ltd. (Taiwan)
Meridius Medical GmbH (Germany)
Dana Medical (South Korea)

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Research Coverage:

This report provides a detailed picture of the global acupuncture needles market. It aims at estimating the size and future growth potential of the market across different segments, such as type, handle material, end user, distribution channel, and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.

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