Acupuncture Market Trends 2024-2031: Rising Demand & Growth Rate
Acupuncture Market Size:
Acupuncture Market
size is growing with a CAGR of 17.6% during the forecast period (2024-2031),
and the market is projected to be valued at USD 113,295.22 Million in 2031 from
USD 31,203.14 Million in 2023.
Acupuncture Market Analysis Overview:
The acupuncture market encompasses
the provision of acupuncture services, the sale of acupuncture needles and
related supplies, and the training and education of acupuncturists. Acupuncture
is a traditional Chinese medicine (TCM) technique involving the insertion of
thin needles into specific points on the body to stimulate the flow of
"qi" (energy) and promote healing. It is used to treat a wide range
of conditions, including pain management, musculoskeletal disorders, stress,
anxiety, and various chronic illnesses. The market is driven by increasing
public awareness of complementary and alternative medicine (CAM), the growing
acceptance of acupuncture by healthcare professionals, and the rising demand
for non-pharmacological pain management solutions.
Key Drivers:
·
Increasing Public Awareness and Acceptance of
CAM: There is a growing global trend towards exploring complementary and
alternative medicine therapies, including acupuncture, as people seek holistic
approaches to health and wellness.
·
Rising Demand for Non-Pharmacological Pain
Management: Concerns about the side effects and potential for addiction
associated with opioid painkillers are driving the demand for
non-pharmacological pain management options like acupuncture.
·
Growing Acceptance by Healthcare Professionals
and Integration into Conventional Medicine: An increasing number of physicians
and healthcare organizations are recognizing the potential benefits of
acupuncture and integrating it into treatment plans, particularly for pain
management.
·
Evidence-Based Research Supporting Acupuncture's
Efficacy: A growing body of scientific research, while still evolving, supports
the effectiveness of acupuncture for certain conditions, lending credibility to
the practice.
·
Availability of Insurance Coverage in Some
Regions: In some countries and healthcare systems, acupuncture treatments are
covered by insurance, making it more accessible to patients.
·
Pain is a common cause of Emergency Department
(ED) visits and its control is still a challenge and global health priority.
·
Organization has recognized it as a safe and
effective therapy for a numerous conditions causing pain and discomfort such as
headaches, back pain, osteoarthritis and more. Furthermore, studies also
suggest that it has a potential role in controlling acute pain conditions
presented to EDs.
Key Restraints:
·
Lack of Universal Insurance Coverage: In many
regions, acupuncture treatments are not covered by standard health insurance,
limiting accessibility for some individuals.
·
Skepticism and Lack of Understanding: Despite
increasing acceptance, skepticism and a lack of comprehensive understanding
about the mechanisms and efficacy of acupuncture persist among some healthcare
professionals and the general public.
·
Variability in Practitioner Skills and Training:
The quality and effectiveness of acupuncture treatments can vary depending on
the training, experience, and skill of the practitioner.
·
Stringent Regulations and Licensing
Requirements: The regulation and licensing of acupuncturists vary significantly
across countries and even within regions, which can create barriers to practice
and standardization.
·
Competition from Other CAM Therapies:
Acupuncture faces competition from other complementary and alternative medicine
modalities such as chiropractic, massage therapy, and herbal medicine.
·
The growth of the acupuncture market is hindered
due to the availability of variety of alternatives such as, hypnosis pain
relief, guided imagery pain relief, magnetic waves, chiropractic, and more. Due
to the presence of alternatives, there is an increase in competition.
Future Opportunities:
·
Integration into Mainstream Healthcare Systems:
Continued efforts to integrate acupuncture into mainstream healthcare settings,
such as hospitals and pain clinics, can significantly expand its reach and acceptance.
·
Focus on Specific Health Conditions with Strong
Evidence: Concentrating on the use of acupuncture for conditions where there is
stronger evidence of efficacy can build greater confidence among healthcare
professionals and the public.
·
Development of Standardized Training and
Certification Programs: Implementing more standardized and rigorous training
and certification programs for acupuncturists can improve the quality and
consistency of care.
·
Expansion in Emerging Markets: Increasing
awareness and adoption of TCM and acupuncture in emerging economies, including
India, presents significant growth opportunities. Given our location in Pune,
Maharashtra, India, the growing interest in traditional Indian medicine and the
potential for synergy with TCM practices like acupuncture could drive local
market growth.
·
Technological Advancements in Acupuncture
Delivery: Exploring and developing innovative technologies for acupuncture
delivery, such as electro acupuncture
devices and laser acupuncture, could enhance treatment options and
accessibility.
·
Acupuncture point selection and prescription is
one of the key and fundamental steps in treatment. There are 361 acupoints
located on 14 meridians within the human body.
·
AI-based data mining methods reveal effective
acupoint combinations, the laws of acupoints compatibility, and effective
treatment plans, which have significantly improved its reliability and
stability in clinical efficacy.
Segmentation:
The acupuncture market can be
segmented based on:
Treatment:
·
Arthritis
·
Diabetes
·
Allergies
·
Anxiety
·
Depression
·
Others
End-Use Industry:
·
Healthcare
·
Skin care
·
Personal care
·
Sports
·
Others
Region:
·
North America
·
Europe
·
Asia-Pacific
·
Latin America
·
Middle East and Africa
Key Players:
·
Kate Duggan Acupuncture and Naturopathy
(Ireland)
·
JSCM TCM Clinic (London)
·
Care Cure Chinese Medicine & Acupuncture
Clinic (Ireland)
·
Dr. Lohiya acupuncture (India)
·
Natural Healing Acupuncture Medical Center
(Dubai)
·
Kirkland Acupuncture & Integrative Medicine
(United States)
·
Mayo Foundation for Medical Education and
Research (United States)
·
ZHU's Neuro-Acupuncture and Rehabilitation
Center (United States)
·
Phydos Clinic (United States)
·
Beijing Acupuncture and Herbal Clinic (United
States)
Regional Analysis:
Asia-Pacific: This region,
particularly China, Japan, and South Korea, has a strong historical and
cultural foundation in acupuncture and TCM, making it a significant market.
India, with its own ancient healing traditions, is also witnessing a growing
interest in and adoption of acupuncture.
North America and Europe: These
regions have seen increasing adoption of acupuncture, driven by the demand for
alternative pain management and growing integration into healthcare systems.
Recent Developments:
Growing Research on Acupuncture's
Mechanisms and Efficacy: Ongoing scientific research continues to explore the
physiological effects and clinical effectiveness of acupuncture for various
conditions.
Increased Integration into
Healthcare Systems: More hospitals and medical centers are incorporating
acupuncture services into their treatment offerings.
Development of Tele-Acupuncture
and Remote Consultation: The rise of telehealth has led to the exploration of
remote acupuncture consultations and guidance for self-administered acupressure
or related techniques.
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