Acupuncture Needles Market Analysis

Acupuncture Needles Market Analysis

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Based on product, the acupuncture needles market is segmented into disposable and reusable. The disposable segment held the largest revenue size over USD 130 million in 2022 and is estimated to exceed USD 270 million by 2032. The upsurge can be attributed to the fact that it is cost-effective and reduces the danger of disease transmission among patients. Due to ease of availability and safety concerns, many healthcare practitioners advise using disposable needles. Moreover, an increase in the availability of products coupled with several other businesses working towards creating innovative technology will support the segment revenue.
 

Based on material, the acupuncture needles market is bifurcated into stainless steel, gold, silver, and others. The stainless-steel segment is anticipated to witness highest CAGR at 7.8% during the forecast period owing to better accuracy. This has been attributed to manufacturers' increased preference for stainless steel, since it's less expensive than gold and silver needles in terms of pricing. Acupuncture treatment quality and safety have also come under scrutiny owing to the recent boom in acupuncture use. The risk of infections spreading has decreased as a result of the use of disposable acupuncture needles. Through the use of clinical trials or in vivo/in vitro studies, recent acupuncture research has mostly concentrated on the effectiveness or mechanisms of acupuncture needles.
 

Acupuncture needles market is bifurcated based on the application including muscular pain, migraine, sports injuries, arthritis, others. The muscular pain segment is anticipated to grow over USD 170 million by 2032. Muscular pain is a common condition for which acupuncture is often sought as a complementary or alternative therapy. Muscular pain can be a significant health concern for many individuals, leading them to explore various treatment options, including acupuncture. Acupuncture needles are a key tool used by acupuncturists to target specific points in the body to alleviate muscular pain. The demand for acupuncture needles may have increased as more people sought acupuncture treatments for their muscular pain.
 

The acupuncture needles market is segmented by end-use into hospitals, clinics, and others. Hospitals segment dominated the global market accounting for more than 44% business share in 2022 and is projected to cross USD 210 million by 2032. This is attributable to growing number of people suffering from chronic diseases across developing countries, rising awareness about acupuncture needles, and increasing prevalence of people suffering from muscular pain. Further, increasing disposable spending in developed nations will contribute considerably towards adoption of acupuncture needles in hospitals thereby leading to segment share.
 

U.S. acupuncture needles market accounted for more than USD 55 million in 2022 and will grow momentously more than USD 110 million by 2032. The affordability of acupuncture needles among the target population base and ongoing technological developments are primarily responsible for the market. Additionally, the region's high healthcare spending on health care management and rising disposable income will propel the expansion of the North America market. Also, the substantial presence of well-established market participants and the favourable regulatory environment result in a number of product approvals and launches, particularly in the U.S.