The Global Acupuncture Market Is Estimated To Record a CAGR of Around 17.72% During The Forecast Period
Evolve Business Intelligence has published a research report on the Global Acupuncture Market, 2023–2033. The global Acupuncture market is projected to exhibit a CAGR of around 17.72%during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Acupuncture Market: 3B Scientific GmbH, ACA, AcuMedic Ltd., Acupuncture Plus, asia med GmbH, Beijing Acupuncture and Herbal Clinic, Blue Branches Acupuncture, CUTTING EDGE CHIROPRACTIC, Dongbang Medical, and Dongguan Southstar Electronics Ltd.
Market Highlights
The global Acupuncture market is projected to be valued at USD 276.72 Billion by 2033, recording a CAGR of around 17.72% during the forecast period. The acupuncture market refers to the industry and commercial activities associated with the practice of acupuncture, an ancient Chinese medical technique. Acupuncture involves the insertion of thin needles into specific points on the body to stimulate energy flow and restore the balance of Qi (pronounced “chee”), which is believed to be essential for maintaining health and well-being. Acupuncture is used to treat a wide range of health conditions, including pain management, stress reduction, digestive disorders, and respiratory issues. The market encompasses various stakeholders, including acupuncture practitioners, clinics, manufacturers of acupuncture supplies, and research institutions.
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The COVID-19 pandemic has had a profound impact on the acupuncture market, reshaping the landscape of the industry and altering the way acupuncture services are delivered.Increased Demand for Stress Relief and Wellness: The pandemic has caused a surge in stress, anxiety, and mental health issues globally. As a result, there has been an increased demand for alternative therapies that promote relaxation, well-being, and stress relief. Acupuncture, known for its potential to reduce stress and improve overall mental health, has seen a rise in popularity during these challenging times. Many individuals have turned to acupuncture as a complementary approach to manage their stress and enhance their overall wellness.
Segmental Analysis
The global Acupuncture market has been segmented based on Type, and End-user.
Based on the, the Acupuncture market is segmented into Needle acupuncture, Electroacupuncture, Auricular acupuncture, Cupping, and Others. The Needle acupuncture segmentis expected to have the larger market share throughout the forecast period.
Based on End-user, the global Acupuncture market has been divided into Hospitals and specialty clinics, Wellness centers, and Research and academic institutions. The Hospitals and specialty clinics segment is anticipated to dominate the market.
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Regional Analysis
The Acupuncture market is divided into five regions: North America, Europe, Asia-Pacific, South America, and Middle East, &Africa. Among these regions, North America and Asia pacific are the two major regions driving the growth of the Acupuncture market. North America, comprising the United States and Canada, holds a significant share in the global acupuncture market. The region has witnessed a growing acceptance of acupuncture as a complementary therapy within mainstream healthcare systems. The Asia-Pacific region is of particular significance in the acupuncture market due to its rich history and strong cultural connection with traditional Chinese medicine. The region encompasses countries like China, Japan, South Korea, and others.
