Acupuncture Needles Market
Acupuncture Needles Market Forecasts to 2030 - Global Analysis By Type (Disposable and Non-disposable), By Material Type (Stainless-steel, Gold, Silver, Plastic and Copper), Application, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $151.1 MN |
|
Projected Year Value (2030) |
US $285.9 MN |
|
CAGR (2023 - 2030) |
9.5% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Acupuncture Needles Market is accounted for $151.1 million in 2023 and is expected to reach $285.9 million by 2030 growing at a CAGR of 9.5% during the forecast period. Acupuncture needles are thin, sterile, stainless steel needles used in traditional Chinese medicine. Inserted into specific points on the body, acupuncture aims to stimulate energy flow to promote healing and balance. Its advantages include pain relief, stress reduction, and treating various ailments.
According to Practical Pain Management, it is estimated that up to 80% of the US population will experience back pain at some point in their lives. The treatment of low back pain (LBP), in particular, runs at least USD 50 billion in US healthcare costs each year.
Market Dynamics:
Driver:
Growing awareness of traditional medicine
Individuals seek holistic and non-invasive approaches to healthcare, traditional Chinese medicine, including acupuncture, has gained prominence. Increased awareness, fueled by educational initiatives and information dissemination, has fostered a broader acceptance of these ancient healing practices. Patients and healthcare providers alike are recognizing the therapeutic benefits of acupuncture needles in addressing various conditions, from chronic pain to mental health issues. This growing acknowledgment reflects a paradigm shift towards embracing time-tested, alternative therapies, propelling the acupuncture needles market.
Restraint:
Needle safety concerns
Apprehensions regarding hygiene, needle disposal and the risk of infections can deter potential patients from embracing acupuncture as a therapeutic option. The fear of needle-related complications may hinder the acceptance of this traditional practice, especially among individuals with a low pain threshold or heightened anxiety. Despite stringent sterilization protocols, the perception of safety risks associated with needle use remains a challenge.
Opportunity:
Clinical evidence of efficacy
Scientific research validates the therapeutic benefits of acupuncture in pain management, mental health and various medical conditions, it enhances the credibility and acceptance of this traditional practice. The availability of robust clinical data provides healthcare professionals and patients with assurance regarding the effectiveness of acupuncture, potentially expanding its integration into mainstream medicine. This evidence-driven approach not only attracts a broader patient base seeking evidence-based therapies but also fosters collaboration between traditional and Western medicine.
Threat:
Lack of standardization
This lack of standardization not only poses potential risks to patient safety but also hampers the ability to conduct rigorous scientific studies and establish a clear understanding of acupuncture's mechanisms of action. It impedes the development of comprehensive training programs for practitioners, contributing to inconsistencies in skill levels and treatment outcomes. The absence of universally accepted protocols and guidelines raises concerns about treatment consistency, quality, and safety. Variability in manufacturing standards, needle materials, and practitioner techniques may undermine the reliability and credibility of acupuncture as a therapeutic modality.
Covid-19 Impact:
The COVID-19 pandemic has impacted the market by disrupting healthcare services and causing shifts in patient priorities. Lockdowns and social distancing measures led to a temporary decline in acupuncture sessions, affecting market growth. However, as societies adapt to the new normal, there is a potential for increased interest in acupuncture as a holistic therapy for stress relief and immunity support. The pandemic has underscored the importance of alternative healthcare, presenting opportunities for the acupuncture needles market to rebound and address evolving health and wellness needs
The disposable generators segment is expected to be the largest during the forecast period
Disposable acupuncture needles are a pivotal segment in the market, offering hygienic and safe treatment options. These single-use needles eliminate the risk of cross-contamination, ensuring patient safety. Healthcare practitioners widely adopt disposable needles due to their convenience, reducing the need for sterilization and enhancing overall efficiency. The disposable nature of these needles aligns with stringent hygiene standards, addressing concerns related to needle safety. Additionally, the convenience of disposal aligns with modern healthcare practices, contributing to the increasing popularity and adoption of disposable acupuncture needles for their role in providing a reliable and safe acupuncture experience.
The hospitals segment is expected to have the highest CAGR during the forecast period
During the anticipated period, the hospitals segment is expected to increase at the most effective rate. Major healthcare institutions, hospitals incorporate acupuncture to offer patients a holistic approach to treatment. Acupuncture within hospital settings is particularly valuable for managing chronic pain, alleviating stress, and promoting overall well-being. The acceptance of acupuncture within hospitals reflects a broader trend toward integrative medicine, acknowledging the importance of alternative therapies in conjunction with conventional medical practices. This integration not only expands patient access to acupuncture but also enhances its credibility within the mainstream healthcare landscape.
Region with largest share:
North America stands at the forefront of the market, driven by a growing acceptance of alternative therapies. The region witnesses a rising demand for acupuncture due to increasing awareness, coupled with a preference for non-invasive treatments. The integration of acupuncture into mainstream healthcare and a surge in chronic health conditions contribute to its popularity. Additionally, robust research and clinical validation of acupuncture's efficacy further boost its adoption. With an expanding market and a receptive population, North America remains a key driver for the acupuncture needles industry, reflecting a broader trend towards holistic and complementary healthcare practices.
Region with highest CAGR:
Asia Pacific holds a prominent position in the market, driven by its rich cultural heritage and widespread acceptance of traditional Chinese medicine. The region's robust demand is fuelled by the growing awareness of acupuncture's therapeutic benefits. Rising healthcare expenditure, coupled with a surge in chronic diseases, further propels market growth. Additionally, favorable government initiatives supporting alternative therapies, increasing integration of acupuncture into mainstream healthcare systems and the availability of skilled practitioners underscore the region's pivotal role in shaping the global landscape for market.
Key players in the market
Some of the key players in Acupuncture Needles market include 3B Scientific, AcuMedic, asia-med GmbH, Boen Healthcare Co., Ltd., Changchun Aikang Medical Devices Co., Ltd., DongBang AcuPrime, MeyerDC, SEIRIN Corporation, Suzhou Hualun Medical Appliance Co., Ltd., Suzhou Zhongjing Life & Science Technology Co., Ltd. and WUXI JIAJIAN MEDICAL DEVICES CO., LTD.
Key Developments:
In October 2023, 3B Scientific, a leading manufacturer and marketer of medical simulation products and anatomical models for healthcare education, announces its acquisition of Wallcur LLC, a prominent provider of healthcare simulation products. This acquisition broadens 3B Scientific's product offering and further demonstrates our ongoing commitment to advancing medical training.
Types Covered:
• Disposable
• Non-disposable
Material Types Covered:
• Stainless-steel
• Gold
• Silver
• Plastic
• Copper
Applications Covered:
• Arthritis
• Back Pain
• Headaches & Migraines
• Knee Pain
• Menstrual Cramps
• Sports Injuries
• Other Applications
End Users Covered:
• Hospitals
• Clinics
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Acupuncture Needles Market, By Type
5.1 Introduction
5.2 Disposable
5.3 Non-disposable
6 Global Acupuncture Needles Market, By Material Type
6.1 Introduction
6.2 Stainless-steel
6.3 Gold
6.4 Silver
6.5 Plastic
6.6 Copper
7 Global Acupuncture Needles Market, By Application
7.1 Introduction
7.2 Arthritis
7.3 Back Pain
7.4 Headaches & Migraines
7.5 Knee Pain
7.6 Menstrual Cramps
7.7 Sports Injuries
7.8 Other Applications
8 Global Acupuncture Needles Market, By End User
8.1 Introduction
8.2 Hospitals
8.3 Clinics
8.4 Other End Users
9 Global Acupuncture Needles Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 3B Scientific
11.2 AcuMedic
11.3 asia-med GmbH
11.4 Boen Healthcare Co., Ltd.
11.5 Changchun Aikang Medical Devices Co., Ltd.
11.6 DongBang AcuPrime
11.7 MeyerDC
11.8 SEIRIN Corporation
11.9 Suzhou Hualun Medical Appliance Co., Ltd.
11.10 Suzhou Zhongjing Life & Science Technology Co., Ltd.
11.11 WUXI JIAJIAN MEDICAL DEVICES CO., LTD.
List of Tables
1 Global Acupuncture Needles Market Outlook, By Region (2021-2030) ($MN)
2 Global Acupuncture Needles Market Outlook, By Type (2021-2030) ($MN)
3 Global Acupuncture Needles Market Outlook, By Disposable (2021-2030) ($MN)
4 Global Acupuncture Needles Market Outlook, By Non-disposable (2021-2030) ($MN)
5 Global Acupuncture Needles Market Outlook, By Material Type (2021-2030) ($MN)
6 Global Acupuncture Needles Market Outlook, By Stainless-steel (2021-2030) ($MN)
7 Global Acupuncture Needles Market Outlook, By Gold (2021-2030) ($MN)
8 Global Acupuncture Needles Market Outlook, By Silver (2021-2030) ($MN)
9 Global Acupuncture Needles Market Outlook, By Plastic (2021-2030) ($MN)
10 Global Acupuncture Needles Market Outlook, By Copper (2021-2030) ($MN)
11 Global Acupuncture Needles Market Outlook, By Application (2021-2030) ($MN)
12 Global Acupuncture Needles Market Outlook, By Arthritis (2021-2030) ($MN)
13 Global Acupuncture Needles Market Outlook, By Back Pain (2021-2030) ($MN)
14 Global Acupuncture Needles Market Outlook, By Headaches & Migraines (2021-2030) ($MN)
15 Global Acupuncture Needles Market Outlook, By Knee Pain (2021-2030) ($MN)
16 Global Acupuncture Needles Market Outlook, By Menstrual Cramps (2021-2030) ($MN)
17 Global Acupuncture Needles Market Outlook, By Sports Injuries (2021-2030) ($MN)
18 Global Acupuncture Needles Market Outlook, By Other Applications (2021-2030) ($MN)
19 Global Acupuncture Needles Market Outlook, By End User (2021-2030) ($MN)
20 Global Acupuncture Needles Market Outlook, By Hospitals (2021-2030) ($MN)
21 Global Acupuncture Needles Market Outlook, By Clinics (2021-2030) ($MN)
22 Global Acupuncture Needles Market Outlook, By Other End Users (2021-2030) ($MN)
23 North America Acupuncture Needles Market Outlook, By Country (2021-2030) ($MN)
24 North America Acupuncture Needles Market Outlook, By Type (2021-2030) ($MN)
25 North America Acupuncture Needles Market Outlook, By Disposable (2021-2030) ($MN)
26 North America Acupuncture Needles Market Outlook, By Non-disposable (2021-2030) ($MN)
27 North America Acupuncture Needles Market Outlook, By Material Type (2021-2030) ($MN)
28 North America Acupuncture Needles Market Outlook, By Stainless-steel (2021-2030) ($MN)
29 North America Acupuncture Needles Market Outlook, By Gold (2021-2030) ($MN)
30 North America Acupuncture Needles Market Outlook, By Silver (2021-2030) ($MN)
31 North America Acupuncture Needles Market Outlook, By Plastic (2021-2030) ($MN)
32 North America Acupuncture Needles Market Outlook, By Copper (2021-2030) ($MN)
33 North America Acupuncture Needles Market Outlook, By Application (2021-2030) ($MN)
34 North America Acupuncture Needles Market Outlook, By Arthritis (2021-2030) ($MN)
35 North America Acupuncture Needles Market Outlook, By Back Pain (2021-2030) ($MN)
36 North America Acupuncture Needles Market Outlook, By Headaches & Migraines (2021-2030) ($MN)
37 North America Acupuncture Needles Market Outlook, By Knee Pain (2021-2030) ($MN)
38 North America Acupuncture Needles Market Outlook, By Menstrual Cramps (2021-2030) ($MN)
39 North America Acupuncture Needles Market Outlook, By Sports Injuries (2021-2030) ($MN)
40 North America Acupuncture Needles Market Outlook, By Other Applications (2021-2030) ($MN)
41 North America Acupuncture Needles Market Outlook, By End User (2021-2030) ($MN)
42 North America Acupuncture Needles Market Outlook, By Hospitals (2021-2030) ($MN)
43 North America Acupuncture Needles Market Outlook, By Clinics (2021-2030) ($MN)
44 North America Acupuncture Needles Market Outlook, By Other End Users (2021-2030) ($MN)
45 Europe Acupuncture Needles Market Outlook, By Country (2021-2030) ($MN)
46 Europe Acupuncture Needles Market Outlook, By Type (2021-2030) ($MN)
47 Europe Acupuncture Needles Market Outlook, By Disposable (2021-2030) ($MN)
48 Europe Acupuncture Needles Market Outlook, By Non-disposable (2021-2030) ($MN)
49 Europe Acupuncture Needles Market Outlook, By Material Type (2021-2030) ($MN)
50 Europe Acupuncture Needles Market Outlook, By Stainless-steel (2021-2030) ($MN)
51 Europe Acupuncture Needles Market Outlook, By Gold (2021-2030) ($MN)
52 Europe Acupuncture Needles Market Outlook, By Silver (2021-2030) ($MN)
53 Europe Acupuncture Needles Market Outlook, By Plastic (2021-2030) ($MN)
54 Europe Acupuncture Needles Market Outlook, By Copper (2021-2030) ($MN)
55 Europe Acupuncture Needles Market Outlook, By Application (2021-2030) ($MN)
56 Europe Acupuncture Needles Market Outlook, By Arthritis (2021-2030) ($MN)
57 Europe Acupuncture Needles Market Outlook, By Back Pain (2021-2030) ($MN)
58 Europe Acupuncture Needles Market Outlook, By Headaches & Migraines (2021-2030) ($MN)
59 Europe Acupuncture Needles Market Outlook, By Knee Pain (2021-2030) ($MN)
60 Europe Acupuncture Needles Market Outlook, By Menstrual Cramps (2021-2030) ($MN)
61 Europe Acupuncture Needles Market Outlook, By Sports Injuries (2021-2030) ($MN)
62 Europe Acupuncture Needles Market Outlook, By Other Applications (2021-2030) ($MN)
63 Europe Acupuncture Needles Market Outlook, By End User (2021-2030) ($MN)
64 Europe Acupuncture Needles Market Outlook, By Hospitals (2021-2030) ($MN)
65 Europe Acupuncture Needles Market Outlook, By Clinics (2021-2030) ($MN)
66 Europe Acupuncture Needles Market Outlook, By Other End Users (2021-2030) ($MN)
67 Asia Pacific Acupuncture Needles Market Outlook, By Country (2021-2030) ($MN)
68 Asia Pacific Acupuncture Needles Market Outlook, By Type (2021-2030) ($MN)
69 Asia Pacific Acupuncture Needles Market Outlook, By Disposable (2021-2030) ($MN)
70 Asia Pacific Acupuncture Needles Market Outlook, By Non-disposable (2021-2030) ($MN)
71 Asia Pacific Acupuncture Needles Market Outlook, By Material Type (2021-2030) ($MN)
72 Asia Pacific Acupuncture Needles Market Outlook, By Stainless-steel (2021-2030) ($MN)
73 Asia Pacific Acupuncture Needles Market Outlook, By Gold (2021-2030) ($MN)
74 Asia Pacific Acupuncture Needles Market Outlook, By Silver (2021-2030) ($MN)
75 Asia Pacific Acupuncture Needles Market Outlook, By Plastic (2021-2030) ($MN)
76 Asia Pacific Acupuncture Needles Market Outlook, By Copper (2021-2030) ($MN)
77 Asia Pacific Acupuncture Needles Market Outlook, By Application (2021-2030) ($MN)
78 Asia Pacific Acupuncture Needles Market Outlook, By Arthritis (2021-2030) ($MN)
79 Asia Pacific Acupuncture Needles Market Outlook, By Back Pain (2021-2030) ($MN)
80 Asia Pacific Acupuncture Needles Market Outlook, By Headaches & Migraines (2021-2030) ($MN)
81 Asia Pacific Acupuncture Needles Market Outlook, By Knee Pain (2021-2030) ($MN)
82 Asia Pacific Acupuncture Needles Market Outlook, By Menstrual Cramps (2021-2030) ($MN)
83 Asia Pacific Acupuncture Needles Market Outlook, By Sports Injuries (2021-2030) ($MN)
84 Asia Pacific Acupuncture Needles Market Outlook, By Other Applications (2021-2030) ($MN)
85 Asia Pacific Acupuncture Needles Market Outlook, By End User (2021-2030) ($MN)
86 Asia Pacific Acupuncture Needles Market Outlook, By Hospitals (2021-2030) ($MN)
87 Asia Pacific Acupuncture Needles Market Outlook, By Clinics (2021-2030) ($MN)
88 Asia Pacific Acupuncture Needles Market Outlook, By Other End Users (2021-2030) ($MN)
89 South America Acupuncture Needles Market Outlook, By Country (2021-2030) ($MN)
90 South America Acupuncture Needles Market Outlook, By Type (2021-2030) ($MN)
91 South America Acupuncture Needles Market Outlook, By Disposable (2021-2030) ($MN)
92 South America Acupuncture Needles Market Outlook, By Non-disposable (2021-2030) ($MN)
93 South America Acupuncture Needles Market Outlook, By Material Type (2021-2030) ($MN)
94 South America Acupuncture Needles Market Outlook, By Stainless-steel (2021-2030) ($MN)
95 South America Acupuncture Needles Market Outlook, By Gold (2021-2030) ($MN)
96 South America Acupuncture Needles Market Outlook, By Silver (2021-2030) ($MN)
97 South America Acupuncture Needles Market Outlook, By Plastic (2021-2030) ($MN)
98 South America Acupuncture Needles Market Outlook, By Copper (2021-2030) ($MN)
99 South America Acupuncture Needles Market Outlook, By Application (2021-2030) ($MN)
100 South America Acupuncture Needles Market Outlook, By Arthritis (2021-2030) ($MN)
101 South America Acupuncture Needles Market Outlook, By Back Pain (2021-2030) ($MN)
102 South America Acupuncture Needles Market Outlook, By Headaches & Migraines (2021-2030) ($MN)
103 South America Acupuncture Needles Market Outlook, By Knee Pain (2021-2030) ($MN)
104 South America Acupuncture Needles Market Outlook, By Menstrual Cramps (2021-2030) ($MN)
105 South America Acupuncture Needles Market Outlook, By Sports Injuries (2021-2030) ($MN)
106 South America Acupuncture Needles Market Outlook, By Other Applications (2021-2030) ($MN)
107 South America Acupuncture Needles Market Outlook, By End User (2021-2030) ($MN)
108 South America Acupuncture Needles Market Outlook, By Hospitals (2021-2030) ($MN)
109 South America Acupuncture Needles Market Outlook, By Clinics (2021-2030) ($MN)
110 South America Acupuncture Needles Market Outlook, By Other End Users (2021-2030) ($MN)
111 Middle East & Africa Acupuncture Needles Market Outlook, By Country (2021-2030) ($MN)
112 Middle East & Africa Acupuncture Needles Market Outlook, By Type (2021-2030) ($MN)
113 Middle East & Africa Acupuncture Needles Market Outlook, By Disposable (2021-2030) ($MN)
114 Middle East & Africa Acupuncture Needles Market Outlook, By Non-disposable (2021-2030) ($MN)
115 Middle East & Africa Acupuncture Needles Market Outlook, By Material Type (2021-2030) ($MN)
116 Middle East & Africa Acupuncture Needles Market Outlook, By Stainless-steel (2021-2030) ($MN)
117 Middle East & Africa Acupuncture Needles Market Outlook, By Gold (2021-2030) ($MN)
118 Middle East & Africa Acupuncture Needles Market Outlook, By Silver (2021-2030) ($MN)
119 Middle East & Africa Acupuncture Needles Market Outlook, By Plastic (2021-2030) ($MN)
120 Middle East & Africa Acupuncture Needles Market Outlook, By Copper (2021-2030) ($MN)
121 Middle East & Africa Acupuncture Needles Market Outlook, By Application (2021-2030) ($MN)
122 Middle East & Africa Acupuncture Needles Market Outlook, By Arthritis (2021-2030) ($MN)
123 Middle East & Africa Acupuncture Needles Market Outlook, By Back Pain (2021-2030) ($MN)
124 Middle East & Africa Acupuncture Needles Market Outlook, By Headaches & Migraines (2021-2030) ($MN)
125 Middle East & Africa Acupuncture Needles Market Outlook, By Knee Pain (2021-2030) ($MN)
126 Middle East & Africa Acupuncture Needles Market Outlook, By Menstrual Cramps (2021-2030) ($MN)
127 Middle East & Africa Acupuncture Needles Market Outlook, By Sports Injuries (2021-2030) ($MN)
128 Middle East & Africa Acupuncture Needles Market Outlook, By Other Applications (2021-2030) ($MN)
129 Middle East & Africa Acupuncture Needles Market Outlook, By End User (2021-2030) ($MN)
130 Middle East & Africa Acupuncture Needles Market Outlook, By Hospitals (2021-2030) ($MN)
131 Middle East & Africa Acupuncture Needles Market Outlook, By Clinics (2021-2030) ($MN)
132 Middle East & Africa Acupuncture Needles Market Outlook, By Other End Users (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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