Acupuncture Market Share

Acupuncture Market Overview

The Acupuncture Market Valued at USD 39.1 billion in 2023, projected to grow from USD 41.9 billion in 2024 to USD 73.44 billion by 2032, exhibiting a CAGR of 7.20% during the forecast period (2024 - 2032). The worldwide acupuncture needle market has grown significantly, contributing to financial profits and increased benefits from Acupuncture than any other form of treatment are the key market drivers contributing to the market’s growth and revenue. 

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Acupuncture Market Trends

• The growing acupuncture needle market is driving the market growth

The rising acupuncture needle market is driving the market CAGR for acupuncture. People have adopted a very unhealthy way of life due to changes in the field of work they do and working hours, which has become the root cause of all health issues. Back discomfort, insomnia, migraines, physical pain, dependency on alcohol, obesity, and menstruation difficulties are all major concerns caused by a disturbed routine. Acupuncture has proven good and long-term results in dealing with these issues when paired with other types of physical activity, such as yoga, jogging, walking, and meditating. As a result, the market of acupuncture has increased significantly, contributing to monetary profits.

Additionally, according to the most recent acupuncture market report, treatment with Acupuncture is a rapidly increasing medical technique. Acupuncture with instruments, laser pens and rods, and suction cups has been quite helpful in treating all of these lifestyle concerns. Acupuncture treatment centers have been established at many hospitals and clinics. With the government also engaging in these private practices, the acupuncture industry is on the cusp of expanding, bringing financial rewards to enterprises that have invested in developing needles and other acupuncture-related things. The number of surgical procedures done has increased as the frequency of persistent illnesses has increased. Many surgical incisions are fairly wide and deep, as well as unpleasant. In such circumstances, Acupuncture helps patients with physical and psychological alleviation. It also aids in the recovery from post-surgical trauma, driving the demand for this technique. As a result, the growing number of operations is expected to raise the need for acupuncture treatments, driving the demand for acupuncture needles forward.

Since November 2019, the predominance of COVID-19 has dampened the world's economy, social life, and politics. Travel and contact were absolutely prohibited because of the virus's unknown effect and treatment. Acupuncture has been demonstrated to help with COVID-19 symptoms such as vomiting, nausea, sleeplessness, shortness of breath, and other respiratory issues. Many clinical trials were undertaken last year to assess the efficacy of treatment with Acupuncture and reach a conclusion. During COVID-19, the medical acupuncture market has grown at greater elevations on an exponential slope.

For instance, as per WHO (World Health Organization) estimate in 2019, 1.13 billion individuals globally have hypertension (BP). Diabetes is the major cause of high blood pressure, which affects approximately 1.00 billion people worldwide. Furthermore, chronic diabetes frequently leads to diabetic ulcers of the legs, which are extremely painful for the sufferers. Acupuncture therapy can assist people suffering from such diseases and reduce their discomfort. It also aids in reducing hypertension by providing mental comfort, fueling the development of the acupuncture needle market throughout the projected timeframe. Thus, driving the Acupuncture market revenue.

Acupuncture Market Segment Insights

Acupuncture Product & Services Insights

The market segments of acupuncture, based on product & services, includes services and products. The services category dominated the market, accounting for 72% of the market share (USD 27.4 billion) in 2022. Japanese Acupuncture, cupping, conventional Chinese medicine, Korean manual Acupuncture, auricular, head acupuncture, a process called non-insertion Acupuncture, and additional services dominate the market, which will boost the overall market growth.

Figure 1: Acupuncture Market, by Product & Services, 2024 & 2032 (USD Billion) 

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Acupuncture Application Insights

The market segmentation of acupuncture, based on application, includes pain syndrome illnesses, gynecological disorders, and others. The pain syndrome illnesses category generated the highest revenue income at about 46% (USD 17.5 billion) in 2022. It is anticipated to expand quickly during the projected timeframe, boosting overall market revenue growth.

Acupuncture End-User Insights

The acupuncture market segmentation, based on end-user, includes wellness centers, hospitals & specialty clinics, and others. The hospitals & specialty clinics dominated the market, accounting for 39% of market revenue (USD 14.86 billion) in 2022. The growing number of specialized clinics, particularly in emerging nations, equipped with cutting-edge technology and goods will drive significant expansion in the category in the coming years. The growing number of private acupuncture hospitals and specialty clinics worldwide is a major factor driving the expansion of this market segment.

Acupuncture Regional Insights

By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Acupuncture market area accounts for the second highest market; owing to the country's substantial number of people suffering from chronic diseases, there has been an increase in therapeutic and palliative care. In addition, increasing scientific and medical study results confirming the effectiveness of acupuncture treatment for pain alleviation and management will boost the market growth in the North American region.

Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Acupuncture Market Share by Region 2022 (USD Billion) 

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe region’s Acupuncture market will dominate this market during the projected timeframe due to the Its acceptance as an additional medical certification by The European Medical Association, hence boosting the growth of the region's acupuncture treatment sector. Further, the German market of Acupuncture dominates the market share, and the UK market of Acupuncture is anticipated to grow rapidly in the European region.

The Asia-Pacific Acupuncture Market is expected to grow significantly during the projected timeframe. This is due to expanding awareness related to Acupuncture's medicinal and health benefits, which will boost market demand in the APAC region. Moreover, China’s market of Acupuncture dominates the market share due to the origin of well-established conventional Chinese medicinal techniques, and the Indian market of Acupuncture is anticipated to be fast growing area during the projected timeframe in the Asia-Pacific region.

Acupuncture Key Market Players & Competitive Insights

Leading market players invested heavily in research and development (R&D) to scale up their manufacturing units and product lines, which will help the market of Acupuncture grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their footprint, with important market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Acupuncture industry must offer cost-effective and sustainable options to survive in a fragmented and dynamic market climate.

Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the key business strategies organizations use in the Acupuncture industry to benefit customers and capture untapped market share and revenue. The Acupuncture industry has recently offered significant advantages to the medicine and service industry. Moreover, more industry participants are utilizing and adopting Acupuncture, and cutting-edge technology has grown substantially. Major players in the Acupuncture market, including Wuxi Jiajian Medical Instruments Co. Ltd., Zepter International, Acumedic Limited, 3B Scientific GmbH, Asia-Med Gmbh, Schwa-medico GmbH, Qingdao Great Fortune Co. Ltd, SIRIN Corporation, MKW Laser System GmbH are attempting to expand market share and demand by investing in research and development (R&D) operations to produce sustainable and affordable solutions.

Lipoid Kosmetik is an important producer of organic raw materials, including superior actives, medicinal plants, and phospholipid formulations, especially for the personal care and cosmetic sectors. It was founded in 1977. Over the previous 50 years, they have built an enviable name in the worldwide cosmetics sector. Lipoid Kosmetik AG launched PhytoCodine in May 2020, expanding its line of cutaneous messenger peptides. It is the globe's only anti-wrinkle focus derived from organic matriline-like peptides, and it changes fibroblasts to create parts of the extracellular matrix associated with skin that appears younger.

Modern Acupuncture delivers practical, approachable well-being and pain treatment by harmonizing the circulatory system via Acupuncture. The organization was founded by Gubernick, Hale, Everts, and another Co-founder, Mike Nesteby (responsible for establishing the IT infrastructure that enabled its rapid expansion). Since the organization's inception in September 2016, over 500 licenses have been granted, with approximately 50 clinics operational around the United States. Modern Acupuncture secured investment from Strand Equity in October 2019, a business primarily investing in sophisticated and well-known services for customers and other brands. This funding arrangement was designed to improve the availability of alternative healthcare. The corporation intended to build 11 new locations across the United States through this funding.

Key Companies in the market of Acupuncture include

• Wuxi Jiajian Medical Instruments Co.


• Zepter International


• Acumedic Limited


• 3B Scientific GmbH


• Asia-Med Gmbh


• Schwa-medico GmbH


• Qingdao Great Fortune Co. Ltd


• SIRIN Corporation


• MKW Laser System GmbH

May 2020:Lipoid Kosmetik AG launched PhytoCodine in May 2020, expanding its line of cutaneous messenger peptides. It is the globe's only anti-wrinkle focus derived from organic matriline-like peptides, and it changes fibroblasts to create parts of the extracellular matrix associated with skin that appears younger.

May 2020:Firmenich SA will open its 3rd Fragrance Atelier, named Villa Botanica, in Grasse in May 2020 to strengthen its position as a leader in organic and ecological product offerings.

October 2019:Modern Acupuncture secured investment from Strand Equity in October 2019, a business primarily investing in sophisticated and well-known services for customers and other brands. This funding arrangement was designed to improve the availability of alternative healthcare. The corporation intended to build 11 new locations across the United States through this funding.

Acupuncture Market Segmentation

Acupuncture Product & Services Outlook

• Services


• Product

Acupuncture Application Outlook

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  Pain Syndrome illness

  
  


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  Gynecological Disorders

  
  


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  Others

  
  

Acupuncture End-User Outlook

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  Wellness Centres

  
  


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  Hospitals & Specialty Clinics

  
  


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  Others

  
  

Acupuncture Regional Outlook

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  North America

  
  

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    US

    
    
  
  
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    Canada

    
    
  
  
  
  

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  Europe

  
  

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    Germany

    
    
  
  
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    France

    
    
  
  
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    UK

    
    
  
  
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    Italy

    
    
  
  
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    Spain

    
    
  
  
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    Rest of Europe

    
    
  
  
  
  

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  Asia-Pacific

  
  
  
  
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    China

    
    
  
  
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    Japan

    
    
  
  
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    India

    
    
  
  
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    Australia

    
    
  
  
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    South Korea

    
    
  
  
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    Australia

    
    
  
  
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    Rest of Asia-Pacific

    
    
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America