Enhanced Acupuncture Methods
The demand for acupuncture that doesn’t hurt and doesn't involve surgery has led to some pretty amazing improvements in this treatment. Newer methods, like using lasers or electro-acupuncture, are becoming more popular. These advancements are expected to make the global acupuncture market even larger in the coming years. Big companies are working hard to create and provide these special tools. Take, for example, Zepter International in Switzerland. They make and sell special products for electro-acupuncture. There's also a company called MKW Laser System GmBH. They're pretty famous in Europe for making low-level laser systems used in acupuncture, like the LASER PEN LA-X P200 and LA-X P500 LASER PEN.
A Growing Population of Older Adults
As people get older, they often face more health issues like body pain, trouble sleeping, and stress. This has created a bigger market for acupuncture. The number of older people worldwide is increasing, and this is going to make the global acupuncture market even bigger. According to the World Health Organization, between 2015 and 2050, the number of people over 60 is going to double! By 2050, almost 80% of these older people will live in countries that aren’t super wealthy. So, the world's population is changing—by 2050, there will be twice as many older people as there are kids! And in the U.S., it’s predicted that by 2060, there will be about 98 million people aged 65 or older.
The advancements in acupuncture are exciting because they make treatments more comfortable and accessible. Laser acupuncture and electro-acupuncture are two types that have gained attention. Laser acupuncture uses special light beams instead of needles, making it less scary for people who might be afraid of needles. Electro-acupuncture involves a tiny electrical current passing through the needles to stimulate the body. Both methods are becoming popular for being less invasive and causing less discomfort.
As people age, they tend to face more health problems. From joint pains to sleep issues, seniors often seek relief from these discomforts. Acupuncture offers a non-medicinal way to address these concerns. With more seniors seeking these alternative therapies, the demand for acupuncture continues to rise.
Figure 1 Global Sciatica Market by Drug Treatment, 2016 (%)
The global sciatica market has been segmented on the basis of types, drug treatment, devices and end user.
Based on the types, the sciatica market has been segmented as L4 nerve root sciatica, L5 nerve root sciatica, S1 nerve root sciatica and others.
Based on the drugs, the market has been segmented as anesthetics, pain killers, muscle relaxants, antidepressants, steroids and others.
Based on the non-drug treatment, the market has been segmented as physiotherapy, acupuncture, stimulation devices, surgery and others.
Based on the end user, the market has been segmented as hospitals and clinics, research and academics and others.
The Americas accounts for a significant sciatica market share owing to high expenditure on the healthcare especially of the U.S. and Canada. Additionally, greater number of orthopedic procedures due to greater healthcare penetration in the U.S. and Canada drives the sciatica market. The high concentration of the major hospitals in the developed countries of this region coupled with good reimbursement rates is adding fuel to the market growth. Moreover, the large share of surgical procedures especially the sciatica treatment in the returns of hospitals favors the market. A large number of medical devices companies in the U.S. is also a cause for the faster development of sciatica market in the US.
Europe is the second largest market in the world due to the growing medical devices industry and healthcare penetration. The European market growth is led by countries such as Germany and France. Germany is expected to be the fastest growing market over the assessment period due to its large medical devices industry.
Asia Pacific region is expected to grow rapidly where China and India are likely to lead the market due to faster growing healthcare sector and larger unmet needs over the forecast period. The South East Asian countries such as China, India, and Malaysia are projected to contribute highly to the market growth. The growing penetration of healthcare industry in the Asia Pacific region is expected to drive the future sciatica market in the region.
Gulf nations such as Saudi Arabia and the UAE are estimated to drive the Middle East & African market. Other Middle Eastern nations to watch out for are Kuwait, Jordan, Egypt and Iran. The African region is expected to witness a poor growth owing to poor economic and political conditions, and poor healthcare development. Other regions are expected to be laggards due to poor social development and tribal identities such as sub Saharan Africa.
Some of the key players profiled in the report are
Sources: Mayo Clinic, Healthline Media, MRFR Analysis
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