Valuation of the acupuncture market to be worth $151 billion by 2030 at a CAGR of 17.1%

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Acupuncture Market Trends & Outlook By Product & Services (Services, Commodity), Application (Pain Syndrome Diseases, Gynecological Disorders, Others), By End User (Wellness Centers, Hospitals & Specialty Clinics, Others) ), competitive market growth, size, share and forecast to 2030

New York, U.S., July 27, 2022 (GLOBE NEWSWIRE) — Overview of the acupuncture market

According to a comprehensive research report by Market Research Future (MRFR), “Acupuncture market Information by product and services, application, end user and region – Forecast to 2030the acupuncture market will cross $151 billion by 2030 and register a CAGR of 17.1% from 2022 to 2030.

Market summary

Acupuncture involves the practice of ancient Chinese medicines with the use of thin metal needles that penetrate human skin. This helps form a flow of energy known as “Qi”, which helps improve human health by stimulating the central nervous system.

Medical practices as well as research and development agencies and medical schools are showing great interest in acupuncture, which should bode well for the global market in the long run.

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Report Scope:

Report attribute

Details

Market size 2030

$151 billion

CAGR

17.1%

Year of reference

2021

Forecast period

2022-2030

Historical data

2020

Forecast units

Value (USD billion)

Report cover

Revenue forecasts, competitive landscape, growth factors and trends

Segments Covered

By product and services, application and end user

Geographical areas covered

North America, Europe, Asia-Pacific and Rest of the World (RoW)

Key Market Drivers

Acupuncture has shown positive and long-lasting effects in treating back pain, headaches, insomnia, body aches and alcohol dependence

Transition in type of job, hours of work and adaptation of an unhealthy lifestyle

Acupuncture Market Competitive Landscape:

Affluent companies in the acupuncture market are

Arora Group, a renowned private property development company, recently opened an elaborate spa and wellness center on the 200-room site of Fairmont Windsor Park 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 spa, fitness, aesthetic and wellness related services. Some of the treatments as well as therapies include acupuncture, massage, European skin care, vitamin infusions, Ayurvedic rituals, nutritional therapy, and osteopathy.

USP Acupuncture Market Covered:

Market factors:

The dramatic increase in chronic diseases such as diabetes, obesity and several autoimmune diseases caused by antimicrobial resistance, adoption of sedentary lifestyles, alcohol consumption and smoking have increased the demand for acupuncture around the world. Acupuncture treatment has become a sought-after alternative therapy to treat musculoskeletal pain worldwide, due to its clinical effectiveness and lower risks of side effects after treatment.

An increasing number of people are changing their preference to less invasive therapies, which furthers the appeal of acupuncture. Acupuncture is very effective in relaxing muscles and relieving pain from chronic diseases by stimulating blood circulation in the body. Acupuncture also helps relive mental stress, PMS, infertility, menopause, PCOS, and various hormonal imbalances.

The increase in cases of hypertension has heightened the need for treatment options such as acupuncture. Diabetes is quite common around the world and is one of the leading causes of high blood pressure, affecting over a billion people worldwide. These growing cases require acupuncture treatment to relieve pain and reduce hypertension. The growing awareness among patients of these benefits is driving the demand for acupuncture.

Market constraints:

Low levels of awareness regarding different acupuncture treatments and low economic standards of few developing countries could challenge the global market in the long run. In addition, poor health infrastructure in a few underdeveloped countries can have a detrimental effect on the global market.

Browse the in-depth market research report (157 pages) on acupuncture: https://www.marketresearchfuture.com/reports/acupuncture-market-6139

COVID 19 Acupuncture Market Analysis

The noticeable impact of the COVID-19 outbreak has resulted in various repercussions on the health status of people across the world. The consequences are linked to the significant social and economic burden on people around the world. As key policy makers implement new frameworks and industries adopt advanced expansion models to maintain relevance, people are facing a series of mental traumas.

Around the world, the increase in cases has caused mental and economic problems, especially among the elderly. Additionally, the younger population faces challenges due to loss of livelihoods and opts for family care to cope with the repercussions. Much of the focus is on treating COVID-19 and developing a vaccine, which distracts attention from other markets. These factors will most likely adversely affect the acupuncture market in the coming years.

Segmentation of the acupuncture market

By products and services

the key categories are services as well as products. The main services on the market are Japanese acupuncture, traditional Chinese medicine, Korean hand acupuncture, cupping, little finger, scalp acupuncture, moxibustion, non-insertion acupuncture, etc.

By requests

Acupuncture has applications in gynecological disorders, pain syndromes, psychological illnesses and others. Pain syndrome diseases rule the market and make up the largest share of 33.5%. The segment can also expect to reach a CAGR of 14.04% in the coming years.

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By end users

The acupuncture market has a number of end users, namely research and academic institutes, hospitals and specialty clinics, and wellness centers. The growing number of specialty clinics, especially in developing countries, equipped with some of the most innovative technologies and products will lead to tremendous growth in the segment in the coming years.

Regional Overviews of the Acupuncture Market

The American market, led by the United States, is emerging as the leader. America is home to the largest population affected by obesity and diabetes, in line with the high prevalence of unhealthy lifestyles. In addition, more than 30% of the region’s population suffers from chronic diseases, which underlines the importance of acupuncture. The market position is also cemented by the ongoing competition between developers of acupuncture devices and the multiplication of clinical trials.

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Asia-Pacific market is set on a rapid growth trajectory between 2022 and 2030, driven by advancements in healthcare infrastructure. The increasing number of therapy centers and the growing number of people suffering from chronic pain and various health conditions are also boosting the market value.

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