Acupuncture Market size is set to grow by USD 16.83 billion from 2023-2027, Increasing geriatric population boost the market, Technavio

NEW YORK, July 12, 2024 /PRNewswire/ -- The global acupuncture market size is estimated to grow by USD 16.83 billion from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of  14.09%  during the forecast period. Increasing geriatric population is driving market growth, with a trend towards advancements in healthcare facilities. However, side-effects associated with acupuncture treatment  poses a challenge. Key market players include 3B Scientific GmbH, ACA, AcuMedic Ltd., Acupuncture Plus, asia med GmbH, Beijing Acupuncture and Herbal Clinic, Blue Branches Acupuncture, CUTTING EDGE CHIROPRACTIC, Dongbang Medical, Dongguan Southstar Electronics Ltd., Mayo Clinic, Meridius Medical GmbH, MKW Lasersystem GmbH, Modern Acupuncture, schwa medico GmbH, Sedatelec, Wuhan ZJZK Technology Co. Ltd., Wuxi Jiajian Medical Instrument Co. Ltd., Zepter International Poland sp. Z o. O., and Neo Acupunture.

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Market Driver

Healthcare facilities are shifting from a supply-based infrastructure to a demand-driven service model due to rising individual demand and willingness to spend on various treatment stages. This includes disease diagnostics, hospital-based therapies, and post-treatment care services. The growing demand enables providers to invest in advanced laboratories, patient wards, and medical equipment. This expansion of healthcare offerings now includes acupuncture treatments, which use acupuncture for holistic recovery from medical conditions. Acupuncture involves various methods and equipment for drug-free pain management and muscle mobility improvement, fueling its increasing demand and the global market's growth. 

The acupuncture market is experiencing significant growth due to increasing trends in musculoskeletal pain treatment. With over 50 million Americans suffering from back pain each year, healthcare costs for musculoskeletal conditions reach billions. Western practitioners are integrating acupuncture into their practices, using needles to stimulate nerves, muscles, and connective tissue. Acupuncture offers an alternative to painkillers and NSAIDs, providing relief without side effects. Acupuncture's popularity is driven by its effectiveness in treating various conditions, including post-surgical trauma, hypertension, diabetes, and diabetic ulcers. Trends include the use of heat, pressure, friction, suction, and electromagnetic energy. Acupuncture treatment centers, hospitals, and clinics are expanding to meet the demand. Lifestyle concerns, such as yoga, jogging, walking, and meditating, are complementary practices. The market revenue for acupuncture is projected to grow, offering opportunities for businesses and investors. Standardization, syndrome differentiation, and continuous research are key to ensuring quality and effectiveness. 

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Market Challenges

• The global acupuncture market may face challenges due to potential side effects from acupuncture treatment. Common adverse reactions include discomfort, bleeding, allergic reactions, skin rashes, nausea, vertigo, bruises, and fainting. More serious complications include nerve and blood vessel injuries, organ punctures, hemorrhages, and infections. To minimize risks, it's crucial that certified and trained practitioners use sterile, disposable needles. Despite these risks, the market is expected to grow due to increasing demand for alternative therapies and advancements in technology. However, the negative side effects may limit market expansion during the forecast period.
• The Acupuncture market faces several challenges in today's health-conscious world. Lifestyle concerns such as obesity, hypertension, and diabetes drive demand for alternative treatments. Yoga, jogging, walking, and meditating are popular, but Acupuncture Treatment Centers, Hospitals, and Clinics offer more targeted solutions. Surgical procedures and post-surgical trauma increase the need for Acupuncture. Market revenue continues to grow, driven by product and service offerings like Japanese Acupuncture, Cupping, Chinese Medicine, Korean Manual Acupuncture, Auricular, Head Acupuncture, and Non-Insertion Acupuncture. Syndrome illnesses like Endometriosis also present opportunities. M&A activity among key players like 3B SCIENTIFIC GMBH, AcuMedic Ltd, and asia-med GmbH impacts the market. Materials, coatings, and design advancements in disposable and non-disposable needles (stainless steel, silver) are crucial. Diabetic foot ulcers, venous foot ulcers, and buying behavior due to injuries and surgeries are significant factors.

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Segment Overview 

This acupuncture market report extensively covers market segmentation by 

1. Type 
• 1.1 Needle acupuncture
• 1.2 Electroacupuncture
• 1.3 Auricular acupuncture
• 1.4 Cupping
• 1.5 Others
2. End-user 
• 2.1 Hospitals and specialty clinics
• 2.2 Wellness centers
• 2.3 Research and academic institutions
3. Geography 
• 3.1 Europe
• 3.2 Asia
• 3.3 North America
• 3.4 Rest of World (ROW)

1.1 Needle acupuncture-  The acupuncture market is experiencing growth due to the rising incidence of chronic conditions, such as osteoarthritis, rheumatoid arthritis, fibromyalgia, and other health issues. These conditions are driven by sedentary lifestyles, alcoholism, obesity, and stress. Acupuncture needles, an alternative to allopathic medications, are used to stimulate nerves by inserting them into various body parts. They are primarily used for treating headaches, bodily discomfort, post-operative pain, gastrointestinal troubles, mental illnesses, respiratory disorders, chemotherapy, and gynecological problems. The market is expected to expand due to the lack of serious adverse effects associated with acupuncture compared to pharmaceutical drugs, reduced reliance on medications, and lower need for invasive medical procedures. Product innovations, such as nano-sensor-loaded needles for sensitive, portable, and selective detection, are also driving market growth. However, challenges such as regular patient check-ups, potential adverse effects like infection and pain, and lack of insurance coverage for acupuncture treatment may hinder market expansion. The increasing awareness of acupuncture therapy and investments by key global companies, growing healthcare spending, and enhanced healthcare infrastructure present opportunities for the global acupuncture needles market.

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Research Analysis

Acupuncture, an ancient Chinese practice, is gaining popularity as a complementary therapy for various lifestyle concerns and health conditions. Yoga, jogging, walking, and meditating are some lifestyle practices that can complement acupuncture in promoting overall wellness. Acupuncture Treatment Centers, Hospitals, and Clinics offer acupuncture services for a wide range of conditions, including surgical procedures, post-surgical trauma, hypertension, diabetes, diabetic ulcers, and syndrome illnesses. Japanese Acupuncture, Cupping, Chinese Medicine, Korean Manual Acupuncture, Auricular, Head Acupuncture, Non-Insertion Acupuncture are different techniques used in this practice. Endometriosis, Obesity, and other conditions are also treated with acupuncture. The global acupuncture market revenue is projected to grow significantly due to the increasing demand for non-invasive and holistic healthcare solutions. Wellness Centers, Specialty Clinics, Private Acupuncture Hospitals are some of the key places where one can avail of these services.

Market Research Overview

Acupuncture, an ancient Chinese healing practice, is gaining popularity as people seek alternative methods to address lifestyle concerns such as stress, insomnia, and anxiety. Practices like Yoga, Jogging, Walking, and Meditating complement acupuncture in promoting overall wellness. Acupuncture Treatment Centers, Hospitals, and Clinics offer various acupuncture services, including Japanese Acupuncture, Cupping, Chinese Medicine, Korean Manual Acupuncture, Auricular, Head Acupuncture, and Non-Insertion Acupuncture. Syndrome illnesses like Endometriosis, Obesity, and Post-Surgical Trauma also find relief in acupuncture. The market revenue for acupuncture and related products & services is projected to grow significantly due to increasing healthcare costs and the rising prevalence of chronic conditions like Hypertension, Diabetes, and Diabetic Ulcers. M&A activity in the sector involves companies like 3B SCIENTIFIC GMBH, AcuMedic Ltd, and asia-med GmbH. Acupuncture uses materials like disposable and non-disposable needles made of Stainless steel and Silver. Design advancements include heat, pressure, friction, suction, and electromagnetic energy. Buying behavior is influenced by injuries, surgeries, musculoskeletal pain, nerves, muscles, and connective tissue. Western practitioners integrate acupuncture with painkillers like NSAIDs and standardize syndrome differentiation for effective treatment.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Needle Acupuncture
• Electroacupuncture
• Auricular Acupuncture
• Cupping
• Others
• End-user
• Hospitals And Specialty Clinics
• Wellness Centers
• Research And Academic Institutions
• Geography
• Europe
• Asia
• North America
• Rest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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