Acupuncture is a healing practice that involves a trained doctor using tiny needles at specific spots on your body. These spots are chosen carefully based on how your pulse feels.
The reason acupuncture is getting more popular is because of the rise in long-term illnesses, lifestyle habits, women's health issues, obesity, and problems with alcohol. These issues can cause problems like trouble sleeping, body aches, and feeling low or anxious. A study in the Drug and Alcohol Dependence journal found that over 100 million adults in the US have ongoing pain.
Another reason for its growth is that acupuncture is getting better. People are finding new ways to use it and as more people get older, there's more interest in treatments like acupuncture. Plus, more people are open to different kinds of treatments apart from regular medicine. This helps acupuncture get more attention and support from funders, which is a big chance for it to grow more.
The experts think that the global market for acupuncture will grow by about 14.5% between 2018 and 2023. In 2017, Europe was in the lead with 32.7%, followed by Asia Pacific with 29.4%, and the Americas with 25.3%. Europe's growth is because more people there are starting to trust acupuncture and the government is spending more on it.
The acupuncture market is divided based on different things like what's being sold and where it's used. In 2017, most of the market, about 59.1%, was for services that were worth around USD 14534.5 million. It's expected to keep growing at about 14.26%.
When it comes to what it's used for, the biggest part, about 33.5%, was to help with pain issues, like chronic pain. This area was worth about USD 8221.2 million in 2017 and might grow at 14.04%.
In terms of who's using it, wellness centers made up the biggest part, about 44.6%, worth around USD 10964.0 million in 2017. These centers might grow the most at about 14.32%.
Report Attribute/Metric | Details |
---|---|
Growth Rate | 9.9% (2024-2030) |
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
Intended Audience
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)