Acupuncture Market Highlights:
The Global Acupuncture Market is expected to reach an approximate CAGR 5.8% of during the forecast period. The increase in global awareness about acupuncture and its benefits drives the market growth. Acupunctures are used for treating various gynecological disorders and chronic diseases such as respiratory diseases, cancer, and others. According to the Centers for Disease Control and Prevention (CDC), 7.3 million women of age group 15 to 44 years have infertility issues.
Thus, the increase in the prevalence of gynecological disorders serves favorable background for market growth. Also, change to in sedentary lifestyle, the rise of obese population, increase in geriatric population, no risks associated with the treatment and growing demand for painless and non-invasive therapy drives the growth of the market during the forecast period. Acupuncture is used for obesity treatment. Its application increases tone in the smooth muscle of the stomach which leads to loss of appetite.
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Global Acupuncture Market, by Key Players
Tianjin Empecs Medical Device Co., Ltd.,
New England Orthopedic Acupuncture,
REIMERS & JANSSEN GmbH,
MKW Lasersystem GmbH,
Asia med GmbH, Cogmedix, Inc.,
Suzhou Tianxie Acupuncture Instruments Co., Ltd.
Acupuncture Market Segments
The application segment includes pain syndrome illnesses, psychological illnesses, gynecological disorders, and others. The pain syndrome illnesses segment is categorized into a migraine, fibromyalgia, osteoarthritis, trigeminal neuralgia, gastrointestinal disorders, and others. The psychological illnesses segment consists of depression, anxiety, stress, panic attack, fatigue, and others. The gynecological disorders segment includes PMS, menstrual issues, pregnancy complaints, menopause, fertility. On the basis of end-user, the market is segmented into pharmaceutical & biotechnology companies, hospitals, wellness center, specialty clinics, and others. On the basis of region, the global acupuncture market is segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa. The Americas is sub-segmented into North America and South America. The North American region is further segmented into the U.S. and Canada. The European region is divided into two, namely, Western Europe and Eastern Europe. Western Europe is further classified into Germany, Italy, France, the U.K., Spain, and the rest of Western Europe. The Asia Pacific region is sub-segmented into Japan, China, India, Australia, the Republic of Korea, and the rest of Asia Pacific. The Middle Eastern and African region is sub-segmented into the United Arab Emirates, Saudi Arabia, Oman, Kuwait, Qatar, and the rest of the Middle East and Africa.
Acupuncture Market Regional Analysis
The acupuncture market is dominated by Asia Pacific as it is a traditional form of medicine in China, Korea, and Japan. The growth of the market is fueled by growing medical tourism in this region. The presence of a wide range of alternative medical therapies such as acupuncture, Ayurveda, and others for chronic pain and ailments in Asia serve favorable background for the market growth in this region.
It is estimated that North America stood second in the global acupuncture market. Acupuncture is the most popular alternative treatment in the U.S. According to the research by Texas Tech University and Health Sciences Center, 14 million U.S. citizens have tried the acupuncture therapy. It also mentions that there was a 4 to 6% rise in the use of acupuncture over the period of 5 years. Also, the rising awareness to maintain general health and preventive measures against chronic illnesses drive the market growth in this region.
Europe was projected to be the fastest growing region for the global acupuncture market. In Europe, around 80,000 physician practice acupuncture. Acupuncture is used in Europe as prevention, rehabilitation, and as a therapy against psychosomatic and organic diseases. Also, the rising insurance coverage in countries such as Austria, France, Spain and, others, by additional private companies provide favorable backgrounds for the market growth in Europe.
The Middle East and Africa holds the least share in the global acupuncture market and is at a developing stage. It is also expected to witness moderate growth due to the presence of stringent government policies and poor economies. However, increasing investments by private market players in this region can boost the market growth.
TABLE OF CONTENTS FOR ACUPUNCTURE MARKET RESEARCH REPORT – FORECAST TO 2023:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
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