Global Acupuncture Market, By Service Type (Needle Acupuncture, Electroacupuncture, Auricular Acupuncture, Moxibustion, Cupping, Others), By Application (Musculoskeletal Conditions, Fatigue and CNS Conditions, Respiratory Conditions, Digestive Conditions, Others), By End User (Hospitals, Clinics, Wellness Centers), and opportunities and forecast 2020-2027

Acupuncture Market Overview

Acupuncture is an age-old healing practice of traditional Chinese medicine in which thin needles are placed at specific points in the body. It is mainly used to relieve pain but also has been used to treat other conditions. In addition to this, more than 3 million Americans use acupuncture and now it is also more popular in other countries. This crucial fact gives a strong boost to the development of the global Acupuncture market in the forecast period.

Furthermore, allopathic medicine can be quite costly in terms of the number of investigations required. As well, many people will have to forego expensive treatment for alternative medicine, from which acupuncture should benefit. This main factor remarkably contributes to the market development in the next few years. Additionally, increasing awareness about acupuncture across the globe is the key factor that significantly contributes to the global acupuncture market over the forecast period.

On the other hand, the lack of scientific evidence is the major interruption to the growth of the market. In addition, a lack of proper, institutionalized training can lead to rampant quackery and disbelief among people regarding the technique itself may hamper the growth of the market. Besides this, as specialists in the field get importance and more people are motivated to take up the skill set. This fact creates larger growth opportunities for the market in the forecast period.

Covid-19 Impact on Acupuncture Market:

In addition, the current Acupuncture Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Acupuncture Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.

The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.

Acupuncture Market Segment Overview

Based on the service type, the Needle Acupuncture segment has the largest share of the Acupuncture market. Needle Acupuncture is most commonly used in the treatment of pain such as headache, migraine, joint conditions, post-operative pain, nausea, and paralysis. Moreover, the growth of this segment can be attributed to the rising prevalence of chronic diseases such as cancer in developed and developing countries. There are increasing studies on the use of acupuncture in cancer treatment to relieve symptoms such as fatigue, dry mouth, and hot flashes.

In addition, local government initiatives for offering high-level acupuncture educational and training programs to non-medical professionals are increasing private acupuncture practice. This key factor further propels the growth of the Acupuncture market in the coming years.

Acupuncture Market, By Service Type

·       Needle Acupuncture
·       Electroacupuncture
·       Auricular Acupuncture
·       Moxibustion
·       Cupping
·       Others

 Acupuncture Market, By Application

·       Musculoskeletal Conditions
·       Fatigue and CNS Conditions
·       Respiratory Conditions
·       Digestive Conditions
·       Others

Acupuncture Market, By End User

·       Hospitals
·       Clinics
·       Wellness Centers

Acupuncture Regional Overview

In terms of region, North America is anticipated to dominate the overall market, throughout the forecast period. This is on account of the increased acceptance of alternative medical techniques among people and increasing incidence of chronic conditions in this region. While the fastest growth can be observed in the Europe. This is because of the increasing demand for acupuncture therapy in this region. Similarly, the Asia Pacific region will also be a lucrative market over the forecast period. Important factors such as increasing attention given to healthcare among a majorly working population and a mature base of ancient acupuncture techniques are majorly contributing to the growth of the Acupuncture Market in this region.

 Acupuncture Market, By Geography

·       North America (US & Canada)
·       Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
·       Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
·       LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)

Acupuncture Market, Key Players

·       Wuxi Jiajian Medical Instruments Co., Ltd.
·       Schwa-medico GmbH
·       3B Scientific GmbH
·       SEIRIN Corporation
·       Zepter International
·       Cymedics GmbH & Co. KG
·       MKW Laser system GmbH
·       Asia-Med GmbH
·       Qingdao Great Fortune Co., Ltd.
·       AcuMedic Ltd.