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The Acupuncture Market size is estimated to grow by USD 16.84 billion at a CAGR of 14.09% between 2022 and 2027. The market growth is chiefly propelled by the expanding geriatric population, prone to various ailments like neurological illnesses, low back pain, and knee discomfort. Acupuncture emerges as a valuable therapeutic modality in addressing these medical conditions, offering relief and management. Its efficacy extends beyond physical ailments to include treatment for smoking conditions, contributing to its widespread adoption. The rising prevalence of these health issues among the elderly population underscores the significance of acupuncture as a holistic treatment approach. With its demonstrated effectiveness and growing acceptance, it plays a pivotal role in meeting the healthcare needs of an aging demographic, driving the market's continued expansion.
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The report extensively covers market segmentation by type (Needle acupuncture,electroacupuncture, auricular acupuncture, cupping and others ), end-user( hospitals and specialty clinics, wellness centers, and research and academic institutions) and geography (Europe, North America, APAC, and Rest of World (ROW)).
The market is driven by a confluence of lifestyle concerns, including rising interest in holistic wellness practices like yoga, jogging, and meditating. Increasing awareness about alternative therapies leads to a surge in demand for acupuncture treatment centers. Despite advancements in surgical procedures, post-surgical trauma remains a challenge, spurring the adoption of acupuncture. Rising incidences of chronic diseases like hypertension, diabetes, and obesity further fuel market growth. However, challenges persist, including regulatory hurdles and limited insurance coverage. Emerging trends like Japanese, Chinese, and Korean acupuncture modalities, alongside the integration of acupuncture in mainstream healthcare, shape the market's trajectory. There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges.
The increasing geriatric population is driving the market growth. According to the Organization for Economic Cooperation and Development (OECD), the percentage of an older population in OECD countries has increased day by day, and it is anticipated that by the year 2050, about 40% of the population in Japan, Spain, Portugal, Greece, and Korea will be aged over 65 years old. Moreover, the use of acupuncture can be beneficial in the treatment of a variety of medical conditions that older people are prone to, including headaches, knee pain, and low back pain, as well as illnesses that affect the neurological system. Hence, the growing older population and their susceptibility to many serious health issues are expected to drive the growth of the market during the forecast period.
Advancements in healthcare facilities are the primary trend influencing the global market. Healthcare facilities, which include diagnostic services, clinical services, and hospital-based services, are transitioning from a supply-based infrastructure to a demand-based service model. This is due to the increasing demand from individuals who are utilizing these services and are willing to increase their healthcare spending for various treatment stages. Moreover, the high demand permits service providers to acquire advanced laboratories, patient wards, and medical equipment. This leads to the increased demand for acupuncture and the growth of the market globally during the forecast period.
Side effects associated with acupuncture treatment are a major challenge impeding the growth of the growth of the global market. There are numerous side effects linked with acupuncture treatment, such as discomfort and bleeding, allergic reactions, skin rashes, and many others. In addition, acupuncture can result in death due to nerve and blood artery injuries, organ punctures, complications from needle breakage or needle fragments, central nervous system or spinal cord injuries, haemorrhages, and other organ and tissue injuries. Such factors will negatively impact the growth of the global market during the forecast period.
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The market report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Customer Landscape
In the market, various factors drive its segmentation and growth. Lifestyle concerns, including hypertension, diabetes, and obesity, highlight the increasing demand for alternative therapies like acupuncture. With a focus on holistic wellness, practices such as yoga, jogging, and walking complement acupuncture treatments, promoting overall health and well-being. Acupuncture treatment centers, including private acupuncture hospitals, offer a range of services tailored to address specific health issues such as diabetic ulcers and endometriosis. Traditional acupuncture techniques like Japanese acupuncture, Chinese medicine, and Korean manual acupuncture cater to diverse patient needs, while innovative approaches like head acupuncture and non-insertion acupuncture expand treatment options. With growing awareness and support from organizations like the World Health Organization and the National Council on Aging, the market continues to evolve to meet the needs of modern healthcare.
The needle acupuncture segment was valued at USD 2.62 billion in 2017 and will continue to grow by 2021. The increased incidence of osteoarthritis, rheumatoid arthritis, and fibromyalgia is a major factor driving the expansion of the needle acupuncture industry. As an alternative to allopathic medications, acupuncture needles are introduced into various body parts to stimulate the nerves for the treatment of various conditions. Moreover, many product improvements, such as nano-sensor-loaded needles for chemical, physical, and biological sensing, can drive market expansion since they provide sensitive, portable, and selective detection.
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Acupuncture has become an integrated supplemental therapy for hospitalized patients because it has the potential to promote recovery, prevent unnecessary procedures, and minimize hospital stays. Moreover, the expanding demand for acupuncture services by hospital patients and the overall inadequacy of current pharmaceuticals are driving the acceptance of alternative and complementary treatments by medical professionals. Hence, the increasing use of acupuncture in hospitals and specialist clinics will propel market expansion over the forecast period.
A wellness center generally refers to a wide range of enterprises, including acupuncture centers, skincare centers, and physician-run clinics, which offer health-promoting therapies. The use of acupuncture therapy at wellness clinics is for whiplash injuries, back, neck, and shoulder discomfort, and knee pain caused by sports or other injuries. As the global burden of chronic pain has increased, more people are embracing alternative therapeutic techniques and medicine as a means to manage pain and other associated disease indicators. This has led to a considerable increase in the number of wellness centers that offer acupuncture. Such factors will propel the growth of the global market during the forecast period.
According to various studies, acupuncture procedures, such as electroacupuncture and dry needling, frequently result in reported pain relief. For example, in 2021, neuroscientists from the Harvard Medical School demonstrated how acupuncture reduces inflammation in order to treat chronic pain and other illnesses. Presently, 54 acupuncture institutions and programs have been accredited by the Accreditation Commission for Acupuncture and Herbal Medicine (ACAOM) and are therefore recognized by the U.S. Department of Education. Hence, the setting up of academic institutions and investments in acupuncture research will drive the growth of the global market over the forecast period.
Europe is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The increased usage of acupuncture by end-users in Europe, the increase in the number of clinical centers, patient care services, and well-equipped healthcare infrastructure attracts more patients who are in search of superior healthcare services. In terms of the number of clinical diagnostic facilities, patient care services, and hospitals, healthcare in Europe is expanding consistently. Suppliers and producers of acupuncture are boosting their sales by utilizing well-established distribution networks and expanding their production capacities to satisfy demand. Such factors will increase the market growth in this region during the forecast period.
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There is high competition in the market. Among several market players, the organization 3B Scientific GmbH stands out among the competitors due to technological innovation and the on-point marketing strategy.
3B Scientific GmbH: The company offers acupuncture products such as Laser Pen LA-X P500, and Laser Shower Power Twin.
The market research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Technavio’s report consists of a holistic analysis of the key development Analysis, development stage, pipeline analysis, FDA approval, market players, their marketing strategies, and powerful innovations to help any client gain a competitive edge.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments
In the market, the World Health Organization (WHO) recognition underscores its effectiveness in addressing a spectrum of health issues, including syndrome illnesses and musculoskeletal conditions. Market revenue continues to surge, driven by increasing adoption and demand for acupuncture product & services. Advancements in design, including disposable needles and coatings, enhance safety and patient experience. M&A activity, such as asia-med GmbH's expansion, reflects the market's growth trajectory. Acupuncture's efficacy in treating ailments like diabetic foot ulcers and chronic low back pain attracts patients seeking alternatives to surgeries and painkillers. With a focus on standardization and syndrome differentiation, it remains a preferred choice among Western practitioners and the US population, offering holistic solutions to healthcare while reducing healthcare costs.
Asia-med GmbH leads in innovative medical materials, focusing on design advancements for non-disposable needles. Using high-quality stainless steel and silver, these needles offer durability and enhanced safety. The company's commitment to addressing specific health concerns like venous foot ulcers and musculoskeletal pain has influenced buying behavior in the healthcare industry, promoting reliable, cost-effective, and sustainable medical solutions.
Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 14.09% |
Market growth 2023-2027 |
USD 16.84 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
13.17 |
Regional analysis |
Europe, Asia, North America, and Rest of World (ROW) |
Performing market contribution |
Europe at 33% |
Key countries |
US, France, Italy, China, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
3B Scientific GmbH, ACA, AcuMedic Ltd., Acupuncture Plus, asia med GmbH, Beijing Acupuncture and Herbal Clinic, Blue Branches Acupuncture, CUTTING EDGE CHIROPRACTIC, Dongbang Medical, Dongguan Southstar Electronics Ltd., Mayo Clinic, Meridius Medical GmbH, MKW Lasersystem GmbH, Modern Acupuncture, schwa medico GmbH, Sedatelec, Wuhan ZJZK Technology Co. Ltd., Wuxi Jiajian Medical Instrument Co. Ltd., Zepter International Poland sp. z o. o., and Neo Acupunture |
Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period. |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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