Acupuncture Market Trends and Insights by Product & Services (Services, Product), Application (Pain Syndrome Illnesses, Gynecological Disorders, Others), by End-User (Wellness Center, Hospitals & Specialty Clinics, Others), Competitive Market Growth, Size, Share and Forecast to 2030
/EIN News/ — New York, USA, July 27, 2022 (GLOBE NEWSWIRE) — Acupuncture Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Acupuncture Market Information by Product and Services, Application, End-User, and Region – Forecast till 2030”, the Acupuncture Market will be crossing USD 151 billion by 2030 and record a CAGR of 17.1% from 2022 to 2030.
Acupuncture involves the practicing of ancient Chinese medicines with the use of thin metallic needles that go into the human skin. This helps form an energy flow known as ‘Qi’, which helps enhance human health by stimulating the central nervous system.
Medical firms as well as research and development agencies and medical colleges are showing huge interest in acupuncture, which should bode well with the worldwide market in the long run.
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|2030 Market Size||USD 151 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Product & Services, Application and End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||Acupuncture has shown positive and prolonged effects in dealing with Back pain, headaches, sleeplessness, body pain and alcohol addiction|
|Transition in the type of employment, working hours and adaptation of unhealthy lifestyle|
Acupuncture Market Competitive Landscape:
The affluent companies in the acupuncture market are
- Acumedic Limited
- Zepter International
- Wuxi Jiajian Medical Instruments Co., Ltd. Ltd.
- Schwa-medico GmbH
- Sirin Corporation
- MKW Laser System GmbH
- Qingdao Great Fortune Co., Ltd. Ltd
- Asia-Med GmbH
- 3B Scientific GmbH
Arora Group, a renowned private property development firm, has recently opened up an elaborate spa & wellness center at the 200-room Fairmont Windsor Park site in Southern England. Fairmont Spa & Wellness is a two story, 2,500 square meter wellness center that has been designed to offer a variety of services related to spa, fitness, aesthetic, and wellbeing. Some of the treatments as well as therapies include acupuncture, massages, European skincare, vitamin infusions, ayurvedic rituals, nutritional therapy, and osteopathy.
Acupuncture Market USP Covered:
The dramatic rise in chronic disorders such as diabetes, obesity, and several autoimmune diseases caused by antimicrobial resistance, adoption of sedentary lifestyles, alcohol consumption and smoking, have raised the demand for acupuncture worldwide. Acupuncture treatment has emerged as a seek-after alternative therapy to treat musculoskeletal pain worldwide, due to its clinical effectiveness along with the lesser chances of side effects post treatment.
A mounting number of people are shifting their preference towards less invasive therapies, which fosters the appeal of acupuncture. Acupuncture is highly effective in relaxing the muscles and alleviating the pain occurring due to chronic diseases, by boosting blood circulation within the body. Acupuncture also helps relive mental stress, PMS, infertility, menopause, PCOS, and various hormonal imbalances.
Rise in hypertension cases has bolstered the need for treatment options such as acupuncture. Diabetes is quite prevalent worldwide, and is one of the top causes of hypertension, affecting over 1 billion individuals worldwide. These rising cases call for acupuncture treatment for the alleviation of pain and reduction in hypertension. The soaring awareness among patients about these benefits fosters the demand for acupuncture.
Low awareness levels regarding different acupuncture treatments and the poor economic standards of a few developing countries could challenge the worldwide market in the long run. Also, poor healthcare infrastructure in a few underdeveloped countries can have a detrimental effect on the global market.
Browse In-depth Market Research Report (157 Pages) on Acupuncture: https://www.marketresearchfuture.com/reports/acupuncture-market-6139
Acupuncture Market COVID 19 Analysis
The COVID-19 outbreak’s notable impact has led to various repercussions on the health status of people across the world. The aftermath is linked with the significant social and economic burden on people worldwide. While the major policymakers are implementing new frameworks and industries are adopting advanced models of expansion to maintain their relevance, people are facing a series of mental trauma.
Around the world, the cases rising have spurred mental, and economic issues, especially among the elderly. Additionally, the younger populace has been dealing with challenges owing to loss of livelihoods and is opting for family care to address the repercussions. The focus is largely on the treatment of COVID-19 and the development of a vaccine, which steers attention away from other markets. These factors will most likely be unfavorable for the acupuncture market in the years to come.
Acupuncture Market Segmentation
By Product & Services
the key categories are services as well as products. Major services in the market are Japanese acupuncture, traditional Chinese medicine, Korean hand acupuncture, cupping, auricular, scalp acupuncture, moxibustion, non-insertion acupuncture, and more.
Acupuncture has applications in gynecological disorders, pain syndromes illnesses, psychological illnesses, and others. Pain syndrome illnesses are reigning over the market and form the biggest share of 33.5 percent. The segment can also expect to attain a 14.04 percent CAGR in the years to follow.
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The acupuncture market has a number of end-users, namely research & academic institutes, hospitals & specialty clinics, along with wellness centres. The soaring number of specialty clinics, especially in developing countries, equipped with some of the most innovative technologies and products will mean considerable growth in the segment in the years to come.
Acupuncture Market Regional Insights
The American market, headed by the United States, prevails as the leader. America houses the largest population affected by obesity and diabetes, in line with the heavy prevalence of unhealthy lifestyles. Plus, over 30% of the population in the region is dealing with chronic diseases, which highlights the significance of acupuncture therapy. The market position is also cemented by the ongoing competition between acupuncture device developers and the surge in clinical trials.
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The Asia Pacific market will be scaling a rapid growth trajectory between 2022 and 2030, thanks to the advancements in the healthcare infrastructure. The soaring number of therapy centers and the surging number of people affected by chronic pain and various health issues bolster the market value as well.
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