Acupuncture Treatment Market to Register a Growth Rate of CAGR 16% During the Forecast Period 2019 to 2029

24/mar/2020 08:08:32 persistencemarketresearch Contatta l'autore

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Global demand for acupuncture is expected to grow significantly owing to the growing prevalence of chronic diseases, rapidly changing lifestyles, and rising health complications among the geriatric population. Moreover, no severe side effects, reduced dependency on medication, and minimal invasive procedures are responsible for the increasing adoption of  acupuncture therapies . Currently, acupuncture services are provided at  73%  of National Cancer Institute (NCI), Comprehensive Cancer Centers in the US, and more  than 1,300 physician acupuncturists  are present in North America.

Persistence Market Research predicts that the global acupuncture market would exhibit 16% CAGR during the forecast period (2019-2029).

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Key Takeaways of Acupuncture Market Study

  • For application of acupuncture, musculoskeletal conditions along with fatigue and CNS conditions are expected to gain traction during the forecast period.
  • Increasing adoption of traditional Chinese acupuncture therapy in North America and Europe is expected to contribute to significant dominance of these regions during the forecast period.
  • Needle acupuncture is expected to hold more than 45% share in the global acupuncture market.
  • Electroacupuncture is expected to gain significant traction and experience 5X growth in the global acupuncture market by the end of 2029.
  • Leading service providing companies in the acupuncture market space are collaborating with small acupuncture service providers, hospitals, and wellness centers to strengthen their market position.
  • Rising adoption of acupuncture therapy with alternate treatment modality and increasing clinical evidence of effectiveness in East Asia are expected to offer significant opportunities for market growth.

“Preference for electropuncture technique over conventional needle acupuncture is expected grow significantly, owing to minimum side effects and increased patient comfort by reducing risks such as bleeding, soreness, or bruising at the site of needle insertion.” says a PMR analyst.

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Musculoskeletal Conditions Dominating Acupuncture Market

Prevalence of musculoskeletal conditions such as chronic pain, cancer pain, osteoarthritis, and others are growing rapidly. In this category back pain, neck pain, and cancer-associated symptoms are becoming less effective by current medication treatments. Acupuncture treatment is becoming preferred alternative therapy for musculoskeletal pain owing to clinical effectiveness and less side effect treatment option.

For instance, the global chronic pain prevalence among adults varied between 11% and 20% and chronic pain prevalence indicates that an estimated 1 in 5 U. S. adults had chronic pain in 2016. In addition, ~45% of acupuncture visits in the U.S. are reported to treat musculoskeletal pain.

What Does the Acupuncture Market Study Cover?

Persistence Market Research offers a unique perspective and actionable insights on acupuncture therapy in its latest study, presenting historical demand assessment from 2014–2018 and projections from 2019–2029 on the basis of service type (needle acupuncture, electroacupuncture, auricular acupuncture, moxibustion, cupping, and others), application (musculoskeletal conditions, fatigue and CNS conditions, respiratory conditions, digestive conditions, and others), and end user (hospitals, clinics, and wellness centers), across seven key regions.

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COMPANIES COVERED IN ACUPUNCTURE TREATMENT MARKET REPORT

  • Traditional Chinese Medicines Australia
  • American College of Traditional Chinese Medicine (ACTCM)
  • Jingshen Acupuncture and Chinese Medicine Clinic (Jingshen TCM Clinic)
  • Professional Register of Traditional Chinese Medicine (PRTCM)
  • ChinaMed Charlottesville
  • New Zealand Chinese Medicine & Acupuncture Society (NZCMAS)
  • Traditional Chinese Medicine & Acupuncture
  • European Traditional Chinese Medicine Association (ETCMA)
  • Beijing Acupuncture and Herbal Clinic
  • Flow Acupuncture & Osteopathy

More About the Report –

Unprecedented access to a world of information has given rise to the empowered, albeit distrustful, consumer. So is the case with healthcare, where the patient has been rendered more informed and conscientious thanks to the extraordinary penetration of the Internet. The discerning patient now demands more affordable, sophisticated, transparent, and personalized healthcare services, creating the need for new models for care.

The advent of health information technology (HIT) components such as electronic health records (EHR), hospital information systems (HIS), picture archiving and communication systems (PACS), and vendor-neutral archives (VNA) has had just as transformational an impact on the overall healthcare sector as the concerns regarding security and privacy. Data theft, undue access to personal health records, and cyber-attacks are very real threats that the healthcare sector faces today.

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