Acupuncture Market Size and Growth Rate:
“The Global Acupuncture Market was valued around US$ XX Mn by 2017 and growing at a significant CAGR over seven years forecast period 2018-2024 owing to grow in incidence of chronic pain around the globe.”
Pain Syndrome Illness Treatment Dominates the Acupuncture Market:
Based on the application, global acupuncture market segmented into pain syndrome illnesses, gynecological disorders, psychological disorders, and others. Pain syndrome illness treatment dominated the global acupuncture market in 2017 and estimated to dominate over the forecast period owing to innovation of newer methods to reduce the pain, rise in awareness about the acupuncture among the people are surge the market over the forecast years. However, a slow growth rate observed for the psychological disorders due to patient incompliance and repetitive treatment.
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Asia Pacific Region Leads the Acupuncture Market:
PBI’s global acupuncture market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, Asia Pacific accounted for larger revenue share through 2013-2017 and expected to dominate over 2018-2024 owing to the origin of acupuncture therapy, availability of treatment centers and skilled professionals in the region are propel the market. European acupuncture market projected to exhibit significant growth due to increased preference for acupuncture therapies amongst the European population boost the market.
Launch of newer types of therapies, treatment centers, and strategic alliances are the key strategies adopted by market players:
Global acupuncture market further reveals that the key players increasingly adopting strategies such as launch of newer types of therapies, treatment centers, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance in March 15, 2019, Cala Health, Inc. (the US), a medical technology company announced its alliance with Massachusetts General Hospital to help launching its acupuncture platform for chronic diseases.
Key Players of Acupuncture Market:
Key player’s profiles in the report are Key players leading the global Acupuncture market include Schwa-medico GmbH, Wuxi Jiajian Medical Instruments Co., Ltd, 3B Scientific GmbH, Zepter International, SEIRIN Corporation, Cymedics GmbH & Co. KG, Asia-med GmbH, MKW Laser system GmbH, Qingdao Great Fortune Co., Ltd., and AcuMedic Ltd.
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Detailed Segmentation of Acupuncture Market:
By treatment type
o Acupuncture needle treatment
· Disposable Needles
· Reusable Needles
o Acupuncture laser treatment
· Yttrium Aluminum Garnet (YAG) Laser
· Semiconductor Source
· Helium Neon Light Source
· Carbon Source
o Pain Management
o Skin and Hair Care
o Scar Management
o Cold and Cough
o Cancer Treatment
By end user
o Wellness Center
o Specialty Clinics
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