Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The acupuncture market is positively influenced by the growing acceptance of traditional medicine and complementary therapies. As individuals seek holistic and non-pharmacological approaches to health, acupuncture gains popularity as a therapeutic option.
Chronic diseases like pain, stress and anxiety are prevalent leading to the demand for acupuncture services. Market growth can be attributed to the effectiveness of acupuncture in that it helps manage many chronic conditions.
The incorporation of acupuncture into the standard health care approaches affects this market. When acupuncture practitioners work together with traditional healthcare providers, they create a more holistic and patient-focused practice that can reach out to broader segments of the population.
Increasing attention to the significance of integral health protection stimulates demand for acupuncture. Consumers are also looking for more holistic therapies that not only resolve particular symptoms, but must help them to get better and be healthier both mentally and physically.
Continuous research and positive clinical evidence are accumulating to back up effectiveness of the acupuncture. Validation of acupuncture benefits for conditions such as chronic pain and nausea by science increases its legitimacy, promoting the market.
Acupuncture as a pain control measure especially in such conditions like osteoarthritis appeals to people seeking substitutes for traditional pain drugs.
Also, greater awareness of stress and mental health issues generates demand for acupuncture. Acupuncture has been known to be effective in stress management, anxiety and depression which is a growing area of concern nowadays.
The availability of acupuncture services, the focus on patient-centric care impact market dynamics. The increasing use of acupuncture by healthcare providers has made this alternative therapy more available to patients.
The influence of culture on the incorporation of acupuncture based practices from ancient Chinese medicine into modern Western societies plays a role in market dynamics. The mass acceptability of acupuncture as an alternate form or complement to healthcare is coming from cultural diversity and acceptance.
The market evolution encompasses technological innovations of acupuncture devices and techniques. More advanced acupuncture tools, electroacupportunctyre and laser are also used. These treatment options need equal to the growing diversity of patients attending doctor’s practice 2-3 times a week;
The favorable government policies and regulations related to acupuncture practice have an influence on the market. Acupuncture integration into mainstream healthcare systems is facilitated by clear guidelines and acknowledgment of acupuncture as a legitimate therapeutic modality.
Positive patient testimonials and word-of-mouth recommendations impact the market. Personal success stories with acupuncture contribute to its reputation as an effective and patient-friendly therapy, driving interest and demand.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 38.1 Billion |
| Growth Rate | 17.10% (2024-2032) |
Acupuncture Market Highlights:
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
Acupuncture Industry Developments
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
-
Pain Syndrome illness
-
Gynecological Disorders
-
Others
Acupuncture End-User Outlook
-
Wellness Centres
-
Hospitals & Specialty Clinics
-
Others
Acupuncture Regional Outlook
-
North America
-
-
US
-
Canada
-
-
Europe
-
-
Germany
-
France
-
UK
-
Italy
-
Spain
-
Rest of Europe
-
-
Asia-Pacific
-
China
-
Japan
-
India
-
Australia
-
South Korea
-
Australia
-
Rest of Asia-Pacific
-
-
Rest of the World
-
Middle East
-
Africa
-
Latin America
-
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
