Market Insights
The arrival of technically
advanced acupuncture treatments, such as the use of laser and
electroacupuncture equipment, is expected to improve the development of the acupuncture
market internationally over the anticipated period, asserts Market Research
Future (MRFR) in its latest report.
Market growth is fueled by
factors such as the increasing incidence of gynecological conditions such as, pregnancy
problems premenstrual syndrome, polycystic ovary syndrome (PCOS), menstrual
problems, menopause, infertility, and chronic pain disorders. In addition, the
increasing frequency of chronic diseases such as fibromyalgia and migraine,
leading to health complications such as insomnia, body aches, and mental
disorders, will stimulate the progress of the acupuncture market.
In addition, many notable
competitors are involved in the development and production of laser and
electro-acupuncture equipment. The growing number of health problems in the
elderly, such as sleep disorders, body, and pain, also fueled the development
of the market. The rising geriatric population worldwide is expected to affect
the acupuncture market during the forecast period. Growing demand for
alternative and complementary drugs, such as acupuncture, has strengthened the
market financing landscape, which may be an important opportunity for market
expansion over the forecast period. Financing from competitors and newcomers to
the market is likely to contribute to market growth over the forecast period.
Market Segmentation
The acupuncture market is
segmented based on application, end-user, and product and services.
The global acupuncture
market is diversified on the basis of products and services. The service segment
also includes Japanese acupuncture, cupping, traditional Chinese medicine,
auricular, Korean hand acupuncture, moxibustion scalp acupuncture,
non-insertion acupuncture, and others. The product segment is also segmented
into suction cups, needles, rod lasers, laser needle, and laser pens,
electro-acupuncture devices, and more. The needles are subdivided into
traditional and modern needles.
The application segment of the
global market is classified into gynecological disorders, pain syndrome
disorders, mental illness, and others. Pain syndrome diseases dominate the
market with largest share of 33.5%.
The end-user segment of the
market is segmented into specialized hospitals and clinics, wellness centers,
and academic and research institutions. The wellness center is predicted to
influence the global acupuncture market due to a large number of wellness
centers involved in acupuncture therapies and the growing preference for
acupuncture as alternative medicine.
Regional Outlook
Regional market analysis
indicates that the European region should dominate with the largest share of
the global acupuncture market and should grow with a 13.53% CAGR over the
forecast period. The development of the market is related to the growing number
of chronic diseases and the growing preference for acupuncture treatments among
the European population. In addition, the existence of major competitors in the
market contributes significantly to market growth in the region. In addition,
increasing insurance coverage in countries such as Austria, France, Spain, and
other private companies will provide promising results in market growth in the
European region.
The Asia Pacific region is
probably the fastest-growing region in the acupuncture market in the world and
is predicted to spur with a compound annual growth rate of 15.02% during the
assessment year. In addition, the growing number of companies producing
acupuncture products and the increasing prevalence of chronic diseases are
leading the market growth in this region.
Market Participants
The players involved in
manufacturing the necessary devices and equipments both, traditional and modern
include 3B Scientific GmbH, Asia med GmbH, Qingdao Great Fortune Co. Ltd,
Zepter International, AcuMedic Ltd, Kanson, SEIRIN Corporation, MKW Lasersystem
GmbH, Cymedics GmbH & Co. KG, schwa-medico GmbH, and Wuxi Jiajian Medical
Instruments Co.
Recent Updates
In a study performed by the
researchers from South Medical University, the drug therapy and acupuncture
were combined while treating the patients. The combinational outcome of the
acupuncture and drug were fruitful in contrast to patients who were treated
only with drug injections.
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