PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1420304
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1420304
A recent report by Fairfield Market Research indicates that the global Acupuncture Treatment Market achieved a revenue of US$ 39 billion at the end of 2024. The market is expected to experience robust growth, reaching an estimated valuation of US$ 140 billion by the end of 2031. Notably, the acupuncture treatment of musculoskeletal conditions is projected to represent a market value of US$ 58.5 billion by the end of 2031.
The rising adoption of acupuncture in pain management worldwide is being driven by concerns related to pharmaceutical drugs and their associated side effects, including nausea, vomiting, dizziness, heartburn, dermal rashes, and constipation. The discomfort caused by conventional medications has led to an increased preference for alternative therapies like acupuncture and physical therapy, which offer complementary treatment options with fewer side effects. This shift has contributed to the expanding market size of acupuncture treatment.
The prevalence of chronic diseases and the adverse effects of medications have prompted a shift towards complementary and alternative treatments like acupuncture. The World Health Organization (WHO) reported that approximately 1.71 billion people worldwide suffer from musculoskeletal diseases, leading to a heightened demand for acupuncture treatment. Additionally, many local governments are actively supporting the adoption of alternative therapies, providing resources, training, and educational courses to promote acupuncture therapy.
Acupuncture is increasingly used in supportive and palliative care, particularly for cancer-related symptoms. Advanced acupuncture approaches, such as acupressure, magnetic acupuncture, and laser acupuncture, are emerging as extended services that enhance patient compliance. Integrative medicine, which combines traditional and alternative therapies, presents substantial opportunities for acupuncture service providers.
The demand for acupuncture treatment faces challenges due to limited reimbursement guidelines, leading to out-of-pocket expenses for patients. While acupuncture has gained popularity, the absence of comprehensive reimbursement policies has restrained market growth. Additionally, licensed acupuncturists often receive lower reimbursement rates compared to physicians, and regulatory frameworks for acupuncture therapy are lacking in many countries.
The U.S. holds a dominant share of the North America acupuncture treatment market. The U.S. acupuncture treatment market is thriving due to the increasing popularity of alternative palliative care options. With a significant population suffering from chronic conditions, there is a growing demand for supportive and palliative care in the country. Additionally, the rising scientific and clinical studies supporting the effectiveness of acupuncture in pain relief and management have driven the adoption of acupuncture services in the U.S.
Germany benefits acupuncture treatment providers by recognizing acupuncture as an additional medical qualification. Although Germany's share in the European acupuncture treatment market is relatively small, it is expected to experience significant growth with a projected CAGR of 17.6% over the next decade. This growth is fueled by Germany being one of the 12 European Union member states where acupuncture is recognized as a distinct therapeutic system, along with Spain. The European Medical Association's recognition of acupuncture as an additional medical qualification further promotes the growth of the acupuncture treatment market in the region.
China stands out as a prominent market for acupuncture service providers due to its long-established traditional Chinese medicine practices. China holds the largest market share in the East Asia acupuncture treatment market. This dominant position is supported by the country's historical roots in traditional Chinese medicine techniques. While China is witnessing an increase in the number of acupuncture and moxibustion practitioners, the growth of the acupuncture treatment market in the country is gradual, primarily because acupuncture as a profession is comparatively less lucrative than modern medicinal practices in China.
The acupuncture treatment market is characterized by numerous small market players employing low-cost marketing methods, such as offering free trials. To adapt to the challenges posed by COVID-19, many market players have ventured into telehealth, allowing them to connect with patients and distinguish themselves in the market.