Acupuncture Market Key Players, Market size, challenges, and opportunities
Acupuncture
has seen extensive growth in recent years as more people have invested in the
shift to less invasive traditional remedies. The Acupuncture Market is expected to cross the USD 151
billion by 2030 at 17.1% CAGR during the forecast period (2022-2030).
Acupuncture
has been reported to be useful in relieving muscle tension and chronic pain by
stimulating blood circulation throughout the body. Acupuncture has displayed
superior results in the treatment of PMS, infertility, PCOS, menopause, mental
stress, and other hormonal abnormalities that fuel the market's expansion.
Segmental
Analysis
The
segmental assessment of the acupuncture market is conducted based on application,
product, and services, end user, and region.
·
By product & services, the acupuncture market consists of services and products.
·
By end-user,
the acupuncture market consists of hospitals & specialty clinics, and
wellness centers. The acupuncture market consists of gynecological disorders
and pain syndrome illnesses by application.
·
By region,
the acupuncture market consists of the Americas, Europe, Asia Pacific, Africa,
and the Middle East.
Detailed
Regional Analysis
The
regional examination of the acupuncture market consists of the Americas,
Europe, Asia-Pacific, Africa, and the Middle East. According to the market's
regional investigation, the European region is projected to control most of the
global acupuncture market. The progress is attributable to the intensifying
prevalence of long-lasting diseases and the mounting predilection for acupuncture therapy among the European population.
Furthermore, stable market rivals contribute substantially to market growth in
the region. The expansion of insurance coverage by other private enterprises in
countries such as France, Austria, Spain, and others will provide a favorable
background for market growth in the European continent. The Asia Pacific region
is projected to be the fastest-growing global acupuncture market. The existence
of countries such as China, Japan, and Korea which have a strong rate of
adoption for acupuncture therapies, is credited with the evolution of the Asia
Pacific acupuncture market. Additionally, the flourishing number of companies
manufacturing acupuncture products and the prevalence of chronic diseases are
powering the market growth in this region.
Competitive
Analysis
The upsurge
in innovative technologies in the global supply chain is estimated to generate
opportunities during the forecast period. The market is projected to witness an
improvement in growth cues in the near future. The reclaimed market potential
is projected to augment the worldwide market's progress. The essential policies
being developed by government bodies worldwide are thought to have a powerful
role in the global advancement of the market. The restructuring of the market's
fundamental operations is expected to impact the market shortly. The market's
production stability is predicted to be variable. Each manufacturer is expected
to make microeconomic decisions to ensure long-term business growth and
continuity during the forecast timeframe. The COVID-19 pandemic's drastic
changes in the global financial intermediation structure are believed to
influence how firms acquire finance in the comparable period. The mindset of
hypervigilance in the aftermath of the pandemic is intended to guide market
decisions throughout the projected period.
The
illustrious contenders in the acupuncture market are Zepter International,
Acumedic Limited, MKW Laser System GmbH, 3B Scientific GmbH, Asia-Med Gmbh,
Schwa-medico GmbH, Qingdao Great Fortune Co. Ltd, Wuxi Jiajian Medical
Instruments Co. Ltd., and SIRIN Corporation.
Industry
Updates:
·
Dec 2021
According to the findings of a recently published clinical investigation, the
effects of acupuncture on symptoms are long-lasting. The National Institutes of
Health Chronic Prostatitis Symptom Index (NIH-CPSI), which awards scores for
pain, urine function, and quality of life, was used to measure treatment
benefits. The males were followed for 24 weeks following the eight weeks of
treatment.
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