Global Market Study on Acupuncture: Growing Incidence of Chronic Diseases to Propel Demand for Acupuncture


Acupuncture Treatment  Market
  • Published On : Jan-2020 |
  • Pages : 192 Pages |
  • Format : Acupuncture Treatment  Market Acupuncture Treatment  Market Acupuncture Treatment  Market Acupuncture Treatment  Market

Rapidly changing lifestyles and global aging population are key factors behind majority of chronic conditions such as pain, mental disease, and cancer-associated symptoms. This rising unresolved chronic disease epidemic is becoming a great concern in the global healthcare system, leading to the adoption of alternative therapies such as acupuncture and traditional herbs. Traditional Chinese Medicines (TCM) is a specialized category of complementary and alternative therapy, which includes acupuncture as the most recognized and clinically-effective TCM to treat chronic diseases. Other TCMs include traditional herbs and Tui Na massage techniques. In the U. S., since 1998, there has been a 3X increase of acupuncture services in hospitals. Currently, chronic musculoskeletal conditions are major health conditions (more than ~50%) where most acupuncture sessions carried out, worldwide.

WHO Push for Worldwide Recognition Boosting Acupuncture Market Growth

A survey conducted by WHO indicated that, nearly 80% of 129 WHO member states officially recognize the use of acupuncture. National policies and regulations on traditional medicine or complementary medicine (T&CM) have been established by most of these member states. A survey revealed that, the use of TCMs has significantly increased (annually 15% or higher). In addition, 43.5% of the member states established T&CM practitioner regulations. The upper-level TCM learning programs providing member states has grown to 39 from only a few, representing 30% of the surveyed countries. For example, the U. K. government recognized acupuncture therapy by legalizing it as a standard healthcare system in 2000. In the process, the Department of Health, U. K., set the acupuncture regulatory working group to make recommendations on the regulation of acupuncturists. In response, the group published a report on statutory regulations of the acupuncture profession in 2003.

Independent and Hospital Integrated Acupuncture Services Gaining Traction

Rising demand for acupuncture services by patients in hospitals and overall insufficient treatment outcomes of current medications are increasing alternative complementary treatments adoption by medical-professionals. Independent acupuncture clinics and wellness centers are growing as a result of patient dissatisfaction of costly medications and related side effects. In addition, local government initiative for offering high-level acupuncture educational and training programs to non-medical professionals are increasing private acupuncture practice. For example, in 2006, Brazilian National Health System (SUS) enacted law to allow non-medical professionals to act as acupuncturists within the Brazilian National Health System (SUS). This new reform recorded significant annual increase of non-medical professional acupuncture consultations (account 28%) between 1999 and 2007.

Acupuncture Market: Analysts’ Viewpoint

An extensive analysis of the acupuncture market has brought our analysts to a conclusion that, the global acupuncture market is growing at a significant pace. Currently, needle acupuncture is the target segment for major players, hence, this segment dominates the global acupuncture market by service type in terms of revenue. North America and East Asia collectively hold more than 60% of revenue share due to the high adoption of acupuncture in these region. Developing countries such as Brazil, South Africa, and Argentina are expected to offer lucrative opportunities for the growth of the acupuncture market, owing to increasing awareness and local government regulatory reforms in education and practice law of acupuncture.

Acupuncture Market - Scope of the Report

The latest publication by Persistence Market Research (PMR) on the global acupuncture market evaluates opportunities and the current market landscape, and provides detailed analysis and updates about corresponding sections affecting the global acupuncture market. The study offers detailed insights on key market dynamics, which includes the drivers, restraints, trends, opportunities of the acupuncture market. The principal aim of the market study is to present exclusive information about how the market will perform over the forecast period of 2019-2029.

Important indicators for the successful growth of the acupuncture market are presented in this comprehensive report, which include supply chain analysis, value chain analysis, Year-on-Year (Y-o-Y) growth analysis of the market, and compounded annual growth rate (CAGR) are described in an exhaustive way in PMR's research. This research study can support readers to know the demand for acupuncture therapy quantitative development opportunities during the study period.

The research is beneficial for shareholders in acupuncture therapy, including acupuncture market investors, and service providers and can help them in developing suitable business strategies to flourish in the acupuncture market. The insights and wisdom presented in this PMR’s study can be leveraged by shareholders in the acupuncture market, industry experts, investors, researchers, reporters, as well as acupuncture business enthusiasts.

Market statistics as well as information linked to macro as well as microeconomic variables affecting business scenario in the acupuncture market are also included in the current study. Depending on potential developments in the acupuncture market, substantive insights are also encountered in this report. Additionally, by virtue of the data submitted in this acupuncture report, minor companies and new entrants in the acupuncture industry can aid in making suitable company choices to achieve traction in the acupuncture market.

Key Segments of Acupuncture Market

PMR’s study on the acupuncture market offers information divided into four important segments-service type, application, end user, and region. This report offers comprehensive data and information about the important market dynamics, and growth parameters associated with these categories.

Service Type

Application

  • Needle Acupuncture
  • Electroacupuncture
  • Auricular Acupuncture
  • Moxibustion
  • Cupping 
  • Others
  • Musculoskeletal Conditions
  • Fatigue and CNS Conditions
  • Respiratory Conditions
  • Digestive Conditions
  • Others

End User

Region

  • Hospitals
  • Clinics
  • Wellness Centers  
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa (MEA)

Key Questions Answered in PMR’s Acupuncture Market Report

  • Which regions will continue to remain the most profitable regional markets for acupuncture market players?
  • Which factors will induce a change in the demand for acupuncture therapy during the assessment period?
  • How will changing trends impact the acupuncture market?
  • How can market players capture the low-hanging opportunities in the acupuncture therapy in developed regions?
  • What are the winning strategies of stakeholders in the acupuncture market to upscale their position in this landscape?
  • What are the restraints that investors need to be aware of and might tackle while investing in the acupuncture market?
  • What are the developmental trends in acupuncture sectors that will impact the market?
  • How businesses in the acupuncture market can avail growth opportunities in developed and emerging economies?

Acupuncture Market: Research Methodology

In PMR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the acupuncture market, and reach conclusions on future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure accuracy and reliability of conclusions.

Secondary resources referred to analysts during the production of acupuncture market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed specialized acupuncturist, medical professionals with acupuncture certifications, key executive of service providers, who contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in an acupuncture market, and makes PMR’s projection on the growth prospects of an acupuncture market more accurate and reliable.

Companies covered in Acupuncture Treatment Market Report

  • Traditional Chinese Medicines Australia 
  • American College of Traditional Chinese Medicine (ACTCM) 
  • Jingshen Acupuncture and Chinese Medicine Clinic (Jingshen TCM Clinic) 
  • Professional Register of Traditional Chinese Medicine (PRTCM) 
  • ChinaMed Charlottesville 
  • New Zealand Chinese Medicine & Acupuncture Society (NZCMAS) 
  • Traditional Chinese Medicine & Acupuncture 
  • European Traditional Chinese Medicine Association (ETCMA) 
  • Beijing Acupuncture and Herbal Clinic 
  • Flow Acupuncture & Osteopathy

Acupuncture Treatment Market

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