Market Research Report
Global Acupuncture Market Research Report: By Product & Services, Application, by End-User - Global Forecast Till 2023
|Global Acupuncture Market Research Report: By Product & Services, Application, by End-User - Global Forecast Till 2023|
Published: January 31, 2019
Market Research Future
Content info: 159 Pages
Delivery time: 1-2 business days
Acupuncture is a medical practice in which thin needles are placed at specific points in the body. It is a healing process performed by a specialized doctor having in-depth knowledge of pulse diagnosis. The growing prevalence of chronic diseases, secondary lifestyle, gynecological disorders, obesity, and alcohol dependency have led to complications such as insomnia, body pain, and emotional disorders which drive the growth of the global acupuncture market. According to a study published in the Drug and Alcohol Dependence Journal in 2017, more than 100 million adults are living with chronic pain in the Americas. Additionally, factors such as advancements in acupuncture therapy and the growing geriatric population are also promoting the growth of the acupuncture market globally. Moreover, the increasing demand for complementary and alternative medicines and growing funding activities for acupuncture are likely to support the growth of the market during the assessment period.
The global acupuncture market is expected to reach to a market value of USD 55,323.8 million by 2023 from USD 24,551.6 million in 2017 and is expected to register a CAGR of 14.50% during the forecast period from 2018 to 2023. In 2017, the market was led by Europe with a 32.7% share, followed by Asia-Pacific and the Americas with shares of 29.4% and 25.3%, respectively. The market growth of the European region is attributed to the rising acceptance of acupuncture therapy.
The global acupuncture market has been segmented based on product and service, application, end user, and region.
The global acupuncture market, by product and service, has been segmented into services and products.
The global acupuncture market, by application, has been segmented into pain syndrome illness, gynecological disorders, psychological illness, and others.
By end user, the global acupuncture market has been segmented into wellness centers, hospitals and specialty clinics, and research and academic institutes.
Seirin Corporation, Kanson, Zepter International, Cymedics GmbH & Co. KG, schwa-medico GmbH, MKW Lasersystem GmbH, Wuxi Jiajian Medical Instruments Co., Ltd, 3B Scientific GmbH, Asia-med GmbH, Qingdao Great Fortune Co., Ltd, and AcuMedic Ltd.