Market Research Future published a study report on Acupuncture Market. This report studies the global market size, industry status and forecast, competition landscape and growth opportunity. Acupuncture Market research report categorizes the market by companies, region, type and end-use industry.
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. Thus, contributing to weight loss in obese people. According to the Centers for Disease Control and Prevention (CDC), 36.5 % of the U.S. population is obese. Thus, the growing prevalence of obesity influences the market growth.
However, factors such as expensive per visit charges, bleeding, bruising, and soreness may result after acupuncture therapy session, no insurance coverage and others are expected to restrict the market growth during the forecast period.
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Asia Pacific dominated the global market for acupuncture during the forecast period. This can be attributed to the presence of major market players such as China within the Asia Pacific region that provides favorable backgrounds for market growth. Acupuncture is a traditional Chinese medicine and originated in China thousands of years ago. According to Statista, the number of acupuncture and moxibustion clinics in Japan reached 28.3 thousand in 2016. North America stood second in the global acupuncture market owing to rise in preference for natural healing of the human body. Acupuncture is used to treat several chronic diseases. According to CDC 2012, 117 million people in the U.S. have at least one chronic disease. This enhances the growth of the acupuncture market.
Europe (U.K., Belgium, France, & the Netherlands) is second in the market owing to increasing health care insurance coverage, growing alternate medicine need and increase in healthcare expenditure. The Middle East and Africa accounts for the least share due to stringent government policies and poor economies.
Key players of Global Acupuncture Market:
Seirin Corporation, Tianjin Empecs Medical Device Co., Ltd., AcuMedic Ltd., New England Orthopedic Acupuncture, Zepter International, REIMERS & JANSSEN GmbH, Kanson, MKW Lasersystem GmbH, schwa-medico GmbH, Asia med GmbH, Cogmedix, Inc., Cymedics, Fysiomed, Erchonia, Suzhou Tianxie Acupuncture Instruments Co., Ltd., and others.
The global acupuncture market is segmented on the basis of, Type, Device, Application and End User. The Acupuncture market, by type, is sub-segmented into acupressure, moxibustion, Japanese acupuncture, Korean acupuncture, traditional Chinese acupuncture, trigger point acupuncture, electro-acupuncture, auricular acupuncture, cupping and others. On the basis of device, the market is categorized into electro-acupuncture device, rod lasers and laser pens, laser needle, suction cups, needles and others. The needles segment consists of traditional needles and modern needles. The application segment includes pain syndrome illnesses, psychological illnesses, gynecological disorders, and others. The pain syndrome illnesses segment is categorized into 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.
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
4.6 Technology Trends & Assessment
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