Global Acupuncture Treatment Market is Expected to Generate Huge Profits by 2032

Owing to the high observance rate of prevalent the side effects associated with medicinal drugs, the global acupuncture treatment market is growing and recorded a value of US$ 27.1 Bn in 2021. It is further expected that this market will expand at a CAGR of 16.3% over the forecast period (2022-2032).

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The global acupuncture treatment market is set to witness a growth in demand over the decade owing to the high prevalence of chronic diseases worldwide. This factor was further given a push in terms of prevalence rate because of the advent of the global COVID-19 pandemic.

As per the International Association for the Study of Pain (2021), using a chronic pain module introduced in the 2019 edition of the National Health Interview Survey, it was found that 50.2 million adults (20.5%) reported recurrent chronic pain in the United States.

With a rise in the global burden of chronic pain, the adoption of alternative therapeutic approaches as means to manage pain and other associated disease indications has witnessed a rise in terms of volumes.

The development of wellness centers and pain management clinics across the world, especially in Europe and East Asia, has displayed a high opportunistic approach for acupuncture treatment providers in terms of an expansive patient base. The emergence of clinical efficacy data comparing the effectiveness of alternative therapy, such as acupuncture, will further initiate the acceptance of such complementary approaches into the primary healthcare system

Competitive Landscape

Strengthening the service portfolio by collaborating with recognized traditional Chinese medicines associations to achieve effective treatment outcomes, is a key strategy used by leading acupuncture service providers.

Discounts & offers, collaborations, recognitions, expansion, and agreements are the key strategies adopted by market players to increase their service revenue in different geographies.

The American College of Traditional Chinese Medicine (ACTCM) is focusing on research activities taking place in China, which are relevant as mental health treatments, opioid alternatives, and treatment of kidney disease.
Personalized services are at the core of TCM Australia's service strategies. The two broad categories of its services include Illness and wellbeing programs, which indicate extended coverage of both, patients and the healthy human population.

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Key Takeaways

Musculoskeletal conditions held 48.6% market share by application in 2021.
Needle acupuncture, as a service type, contributed 46.2% revenue share, in 2021, in the global market.
Under the end-user segment, hospitals are preferred by most patients, and the segment held a market share of around 44.1% in 2021.
East Asia held the highest market share of 31.5% by region in 2021.

"Rising adoption of alternative therapeutic treatments and increasing government support for acupuncture effectiveness awareness will drive the acupuncture industry going forward," says an analyst of Persistence Market Research.

 Key Questions Answered in This Report.

What are the Roadblocks for Acupuncture Treatment Suppliers?
What are the Key Opportunities for Acupuncture Treatment Manufacturers?
How is Focus on Safety Influencing Acupuncture Treatment Demand?
What is the Regulatory Impact on Global Sales of Acupuncture Treatment?
Which Region Offers the Largest Opportunity for Sales of Acupuncture Treatment?
Where Does the U.S. Stand in the Market for Acupuncture Treatment?
What Is the Outlook for Acupuncture Treatment Manufacturers in China?
Why is Germany a Lucrative Market for Acupuncture Treatment Manufacturers?
Why Will Belgium Outpace Other European Markets for Acupuncture Treatment?
Why is There High Demand for Tires in Acupuncture Treatment?
Why are Sales of Acupuncture Treatment Surging?

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This release was published on openPR.