Press release
Electroacupuncture Unit Market Development Trends & Competitive Analysis by Leading Industry Players
• Electroacupuncture is similar to acupuncture, a widely used traditional Chinese medicine system for treatment of various diseases. In standard acupuncture, one needle is used at each treatment point. Electroacupuncture is a modified form that uses two needles.
• Electroacupuncture is a form of acupuncture, wherein a small electric current is passed between pairs of acupuncture needles. According to some acupuncturists, this practice augments the use of regular acupuncture, can restore health and well-being, and is particularly good for treating pain.
• According to a study, electroacupuncture is useful in the treatment of various diseases such as arthritis, acute pain, and chemotherapy-related nausea
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Key Drivers of Global Electroacupuncture Unit Market
• Increase in number of patients with arthritis, acute pain, and gynecological disorders is projected to drive the global electroacupuncture unit market during the forecast period. Arthritis is the leading cause of disability, and causes pain, aching, stiffness, and swelling of the joints. The most common types are osteoarthritis, rheumatoid arthritis, gout, lupus, and fibromyalgia. According to the Centers for Disease Control and Prevention, around 55 million adults in the U.S. were suffering from arthritis in 2018. Acute pain affects over 120 million people in seven major markets: the U.S., Germany, the U.K., France, Italy, Spain, and Japan.
• Increase in geriatric population, which is more prone to pain-related disorders, is anticipated to propel the global electroacupuncture unit market. According to the World Health Organization, the global geriatric population is expected to reach around 2 billion (22% of global population) by 2050, as against 900 million in 2015. Countries such as India, China, Thailand, and South Korea are also expected to have large geriatric population in the shortest span of time in the near future. New product launch, strong product pipeline, and high demand for electroacupuncture units across the globe are likely to augment the global market during the forecast period.
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Mobile to be Most Promising Segment
• In terms of product type, the global electroacupuncture unit market can be bifurcated into mobile and fixed
• The mobile segment accounted for the largest share of the global electroacupuncture unit market in 2019. The segment is projected to dominate the global market during the forecast period due to increase in popularity of and demand for mobile electroacupuncture units.
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Pain Syndrome Illness Segment to Witness Significant Growth
• Based on treatment type, the global electroacupuncture unit market can be divided into psychological illness, pain syndrome illness, gynecological disorders, and others
• The pain syndrome illness segment dominated the global market in terms of revenue in 2019 and the trend is anticipated to continue during the forecast period. This can be attributed to launch of products for treatment of pain syndrome illness by major manufacturers and increase in patients with pain-related syndrome.
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North America to Dominate Global Electroacupuncture Unit Market
• In terms of region, the global electroacupuncture unit market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
• North America dominated the global electroacupuncture unit market in 2019 and the trend is expected to continue during the forecast period. The region’s market dominance can be attributed to increase in research & development activities by major players, rise in pain-related disorders, surge in product offerings, greater affordability, and rise in demand for early treatment.
• The market in Asia Pacific is likely to grow at a rapid pace during the forecast period, owing to increase in geriatric population, which is more prone to pain-related disorders, adoption of new products, and rise in demand for electroacupuncture units in emerging countries such as India and China.
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Key Players Operating in Global Electroacupuncture Unit Market
The global electroacupuncture unit market was highly fragmented in 2019.
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