Published on: May 2022
The Need for acupuncture needles is on a steady rise
In 2019, the global acupuncture needles market was worth USD 102.1 million, with a compound annual growth rate (CAGR) of 8.0 percent forecast from 2020 to 2027. Antimicrobial resistance, the adoption of unhealthy and sedentary lifestyles, alcohol consumption, and smoking are all contributing to market expansion. According to the Centres for Disease Control and Prevention's (CDC) National Diabetes Statistic Report 2017, more than 100.0 million persons in the United States have diabetes or prediabetes. Furthermore, the WHO claimed that diabetes was directly responsible for nearly 1.6 million deaths worldwide in 2016. Acupuncture is extremely successful at treating and alleviating pain caused by chronic conditions. Furthermore, when compared to other treatments, the chance of severe adverse effects is lower.
Evaluating the healthcare system and analyzing the need of the hour
The number of procedures performed has increased as the frequency of chronic illnesses has increased. The majority of surgical wounds are huge and deep, as well as painful. In such instances, acupuncture provides both physical and mental alleviation to the sufferers. It also aids in the recovery from post-surgical trauma, which is why the procedure is becoming more popular around the world. As a result, the increased number of operations is expected to boost demand for acupuncture procedures, propelling the market for acupuncture needles forward.
The bright future
One of the major factors impacting the market is the growing geriatric population around the world. Because the older population is more susceptible to numerous chronic illnesses and chronic wounds, growth in the geriatric population may have a beneficial impact on the acupuncture needle market. Because the odds of developing any negative effects from acupuncture treatment are extremely minimal, older individuals choose this treatment. It also aids in the reduction of body discomfort and provides both physical and mental relief.
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