The global demand for acupuncture is expected to increase significantly due to the increasing prevalence of chronic diseases, rapidly changing lifestyles and increasing health complications among the geriatric population. Additionally, the absence of serious side effects, reduced reliance on medications, and minimal invasive procedures are responsible for the growing adoption of acupuncture therapies. Currently, acupuncture services are offered at 73% from the National Cancer Institute (NCI), Comprehensive Cancer Centers in the United States and more than 1,300 acupuncturist physicians are present in North America.
Persistence Market Research predicts that the global acupuncture market will exhibit 16% CAGR over the forecast period (2019-2029).
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Key Takeaways from Acupuncture Market Research
- For the application of acupuncture, musculoskeletal conditions along with fatigue and CNS conditions are expected to gain ground during the forecast period.
- The increasing adoption of traditional Chinese acupuncture therapy in North America and Europe is expected to contribute to significant dominance of these regions during the forecast period.
- Needle acupuncture is expected to hold over 45% of the global acupuncture market share.
- Electroacupuncture is expected to gain popularity and experience 5x growth in the global acupuncture market by the end of 2029.
- Major service provider companies in the acupuncture market are collaborating with smaller acupuncture service providers, hospitals and wellness centers to strengthen their position in the market.
- Growing adoption of acupuncture therapy with alternative treatment modality and increasing clinical evidence of efficacy in East Asia are expected to provide significant opportunities for market growth.
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“Preference for the electropuncture technique over conventional needle acupuncture is expected to increase significantly, due to minimal side effects and increased patient comfort by reducing risks such as bleeding, pain or bruising at the needle insertion site.” explains a PMR analyst.
Musculoskeletal conditions dominate the acupuncture market
The prevalence of musculoskeletal conditions such as chronic pain, cancer pain, osteoarthritis and others is increasing rapidly. In this category, back pain, neck pain and symptoms associated with cancer become less effective with current drug treatments. Acupuncture treatment is becoming a preferred alternative therapy for musculoskeletal pain due to its clinical effectiveness and less side effect treatment option. For example, the global prevalence of chronic pain in adults ranged from 11% and 20% and the prevalence of chronic pain indicates that approximately 1 in 5 American adults suffered from chronic pain in 2016. In addition, ~45% acupuncture visits in the United States are reported to treat musculoskeletal pain.
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What does the acupuncture market study cover?
Persistence Market Research offers a unique perspective and actionable insights into Acupuncture Therapy in its latest study, presenting a historical assessment of the demand for 2014–2018 and projections of 2019-2029 based on type of service (needle acupuncture, electroacupuncture, auricular acupuncture, moxibustion, cupping and others), application (musculoskeletal conditions, fatigue and central nervous system conditions, respiratory conditions, digestive conditions and others) and end user (hospitals, clinics, and wellness centers), in seven key regions.