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Acupuncture Needles Market: Introduction

  • Acupuncture is promoting balance and harmony on all levels by stimulating the energy flow, the CHI, with tiny needles placed on energy spots. Acupuncture is the most common type of traditional healing system. It originated in China more than 2000 years ago. Acupuncture needles are thin, solid metallic needles used to stimulate body surface for treatment of pain.
  • Acupuncture is most commonly used to treatment of pain such as headache, migraine, joint conditions, post-operative pain, nausea, and paralysis

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Key Drivers of Global Acupuncture Needles Market

  • The global acupuncture needles market is projected to be driven by rise in prevalence of chronic diseases such as cancer in developed and developing countries
  • According to the Arthritis Foundation, arthritis is the leading cause of disability in the U.S. Approximately 54 million individuals suffer from arthritis and the number is expected to reach 78 million by 2040.
  • Acupuncture is beneficial in managing pain caused by chemotherapy. Increase in incidence of cancer drives the demand for chemotherapy procedures. This, in turn, contributes to the growth of the global acupuncture needles market.
  • Preference for traditional treatment techniques is a rising trend among patients. Acupuncture therapy has no severe side effects which fuels the demand for acupuncture therapy. This, in turn, increases the demand for acupuncture needles among practitioners.
  • Acupuncture needle are regulated by U.S. Food and Drug Administration (FDA) under good manufacturing practices and single-use standards of sterility. Thus, evolving regulatory scenario is expected to propel the acupuncture needles market during the forecast period.

North America to Account for Significant Share of Global Acupuncture Needles Market

  • North America was the leading market for acupuncture needles in 2018, driven by rise in adoption of traditional healing technologies for pain management. Acupuncture is widely available in the U.S. and is typically practiced in a private setting.
  • Rise in prevalence of cancer in the geriatric population is expected to propel the market in North America during the forecast period. Acupuncture therapy is used for pain management in cancer patients undergoing chemotherapy.
  • According to the American Cancer Society, nearly 252,710 new cases of cancer were diagnosed in the U.S. in 2017 and the incidence rate is expected to increase substantially in the next few years
  • Explosion of interest in the U.S. and Europe in the application of the technique of acupuncture to western medicine is expected to drive the acupuncture needles market in North America and Europe
  • Asia Pacific is projected to be the fastest growing market for acupuncture needles during the forecast period due to improving health care infrastructure. Rise in number of acupuncture therapy centers is likely to fuel the growth of the global acupuncture needles market in Asia Pacific.

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Key Players Operating in Global Acupuncture Needles Market

Major players in the global acupuncture needles market are:

  • Boen Healthcare Co., Ltd.
  • 3B Scientific GmbH
  • Shinylink?Shanghai?Industrial, Inc.
  • Wuxi Jiajian Medical Equipment Co., Ltd.

Global Acupuncture Needles Market: Research Scope

Global Acupuncture Needles Market, by Type

  • Disposable
  • Reusable

Global Acupuncture Needles Market, by Material

  • Stainless Steel
  • Gold
  • Silver

Global Acupuncture Needles Market, by End-user

  • Hospitals
  • Specialty Clinics
  • Educational & Research Institutes
  • Others

Global Acupuncture Needles Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Acupuncture Needles Market

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