Acupuncture Market Size, Strategies, Competitive Landscape, Trends and Factor Analysis to 2027

Acupuncture market

MRFR (Market Research Future) estimates that the acupuncture market the size is expected to exceed $24551.6 million by 2027. Market Research Future also expects the market to soar at a rate of 14.60% between 2020 and 2027 (assessment period).

Top Boosters and Deterrents

Accelerated cases of chronic diseases such as obesity, diabetes and various autoimmune diseases due to antimicrobial resistance, prevalence of sedentary and unhealthy lifestyles, smoking and alcohol consumption are cited as key drivers for market growth. The National Diabetes Statistical Report suggests that in 2018, more than 100.0 million Americans had diabetes or prediabetes. Additionally, the WHO revealed that in 2018, nearly 2.6 million lives were claimed by diabetes. This growing number requires urgent attention, and acupuncture is becoming one of the most effective treatments. It not only relieves but also treats pain resulting from chronic disorders. Moreover, the risks of adverse side effects are relatively less than most other treatments, which also adds to its demand among patients and medical professionals.

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Rising cases of hypertension also promote the need for effective treatment options like acupuncture. The WHO reported in 2019 that nearly 2.13 billion people worldwide have high blood pressure. Diabetes is known to be a major cause of hypertension, which affects more than one billion people worldwide. Long-term diabetes leads to leg ulcers and can be extremely painful. These cases require acupuncture treatment to reduce pain and reduce the level of patient suffering. The therapy also reduces hypertension by providing mental relief, which helps to drive its demand and later increase the market value.

Market segmentation

The acupuncture industry can be divided into products and services, applications, and end users.

According to products and services, the market caters to services as well as products. Services are Traditional Chinese Medicine, Japanese Acupuncture, Cupping, Korean Hand Acupuncture, Scalp Acupuncture, Ear Acupuncture, No Insertion, Moxibustion and others.

The main applications of acupuncture are psychological diseases, pain syndromes, gynecological and other disorders. Pain syndrome diseases account for the highest share of the global market which stands at 33.5% while it is expected to flourish at a rate of 14.04% in the coming years.

The main end users of acupuncture are wellness centers, research and academic institutes, hospitals and specialty clinics. The wellness center may eventually take the lead in the acupuncture industry as most of them specialize in extensive acupuncture therapies and are increasingly preferred by patients around the world.

Regional study

The acupuncture industry has been considered regionally for Europe, MEA or Middle East, Americas as well as APAC/Asia-Pacific.

America is the market leader as the region is home to a huge population of people leading an unhealthy and sedentary lifestyle while obesity affects over 80% of the total population. Moreover, more than 20% of the total population suffers from chronic diseases, which has highlighted the importance of acupuncture therapy among consumers. The position of the American market is further strengthened by the efforts made by manufacturers of acupuncture devices and the rapid increase in the number of hospital and clinical trials. The escalation of hypertension and diabetes in the United States and Canada is also facilitating the expansion of the market in the region.

APAC Acupuncture market has been shifting the growth chart at a breathtaking rate supported by advancements in healthcare infrastructure. The growing number of acupuncture therapy centers and more and more people actively seeking treatment for chronic pain and other health conditions could also add to market value. The growing interest of international companies in setting up in Asia-Pacific should also provide them with better prospects in the years to come.

Main companies

The main competitors active in the global acupuncture market are MKW Laser System GmbH, Acumedic Limited, Qingdao Great Fortune Co. Ltd, Asia-Med Gmbh, Wuxi Jiajian Medical Instruments Co. Ltd., Zepter International, SIRIN Corporation, 3B Scientific GmbH, Schwa-medico GmbH, to name but a few.

Major companies are working to market the acupuncture treatment worldwide, shedding light on its benefits and striving to raise awareness. Other strategic initiatives taken by the players are partnerships, agreements and acquisitions, to strengthen their business and reach more consumers.

To cite a reference, in January 2021, Flint, a Michigan-based Forum Health, acquired the Healing Arts Center, which is an alternative medicine practice located in Valparaiso. Healing Arts Center offers a wide range of alternative services including acupuncture, massage, reflexology, naturopathy, hypnotherapy, chiropractic, and more. The center is known for treating conditions such as Parkinson’s disease, dementia, Lyme disease, autism, ADD, depression, allergies and anxiety, while helping patients achieve their health goals. weightloss.

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