Acupuncture Needles Market Size Worth $187.8 Million By 2027: Grand View Research, Inc.
SAN FRANCISCO, Sept. 22, 2020 /PRNewswire/ -- The global acupuncture needles market size is expected to reach USD 187.8 million by 2027, expanding at a CAGR of 8.0%, 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.
Key suggestions from the report:
- 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
Read 90 page research report with ToC on "Acupuncture Needles Market Size, Share & Trends Analysis Report By Product (Disposable Needles, Non-disposable Needles), By Material (Stainless Steel, Gold, Silver), By End-use (Hospital, Clinics), By Region, And Segment Forecasts, 2020 - 2027 '' at: https://www.grandviewresearch.com/industry-analysis/acupuncture-needles-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.
Grand View Research 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)
- Disposable
- Non-disposable
- Acupuncture Needles Material Outlook (Revenue, USD Million, 2015 - 2027)
- Stainless Steel
- Gold
- Silver
- Acupuncture Needles End-use Outlook (Revenue, USD Million, 2015 - 2027)
- Hospital
- Clinics
- Others
- Acupuncture Needles Regional Outlook (Revenue, USD Million, 2015 - 2027)
- North America
- The U.S.
- Canada
- Europe
- The U.K.
- Germany
- Asia Pacific
- Japan
- China
- Latin America
- Brazil
- Mexico
- MEA
- South Africa
- Saudi Arabia
List of Key Players of 3D Machine Vision Market
- 3B SCIENTIFIC GmbH
- AcuMedic Ltd.
- asia-med GmbH
- SEIRIN
- Dana Medical Co.
- Boen Healthcare Co., Ltd
- Suzhou Hualun Medical Appliance Co., Ltd.
- WUXI JIAJIAN MEDICAL DEVICES CO., LTD.
- Suzhou Zhongjing Life & Science Technology Co., Ltd.
- Shinylink (Shanghai) Industrial Inc.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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