Acupuncture Needles Market latest Developments, Revenue Size Analysis and Industry Overview Report for 2027
The global acupuncture needles market size is expected to reach USD xxxx million by 2027, expanding at a CAGR of xx%, according to a new report by Grand View Research, Inc. The increase in the adoption of sedentary lifestyles, growing geriatric population, and rising incidence of emotional disorders are the key factors driving the market.
Acupuncture is a traditional healing practice derived from traditional medical practice in China. The treatment involves placing thin needles at specific pressure points of the body. This technique helps in reducing the pain caused due to several conditions such as joint conditions, headache, body pain due to surgeries and chronic disorders, migraines, menstrual cramps, and paralysis. It is also known for treating certain major issues such as emotional disorders, nausea, speech disorders, digestive disorders, respiratory conditions, and insomnia. Acupuncture also helps to get rid of certain harmful addictions such as smoking and alcohol consumption.
The rising cases of emotional disorders and chronic conditions are the major factors boosting the market growth. According to the report published by the National Council for Behavioral Health in 2019, in the U.S. almost half of the population suffers from some kind of mental illness throughout their lifetime. It also reported that around 5.0% of the adults in the country experience mental disorder in any one year, which is almost 43.8 million people in the U.S. As per the National Center for Biotechnology Information (NCBI), acupuncture and energy psychology together work efficiently in the treatment and diagnosis of emotional disorders without causing any severe side-effects. Therefore, such advantages and usefulness of this technique have encouraged many people across the globe, to opt for this technique for the treatment of such emotional conditions. Thus, considerable market growth is anticipated over the forecast period.
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Acupuncture Needles Market Report Highlights
In terms of revenue, the disposable needles segment held the largest share in 2019. The low risk of transmission of any disease from one person to another is the major factor driving the segment over the forecast period
The stainless steel segment held the largest market share in 2019 owing to the easy availability of raw materials and low cost
The hospital segment is anticipated to witness the fastest growth rate over the forecast period owing to the rising complications caused due to chronic disorders
Asia Pacific is anticipated to witness the fastest growth over the forecast period owing to the rising number of surgeries and the presence of many local key players
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Grand View Research has segmented the global acupuncture needles market on the basis of product, material, end-use, and region