Acupuncture Treatment Market Growing at 12.3% CAGR to Cross US$ 141.51 Billion by 2034: Fact.MR Report
Increasing Need for Alternative Palliative Therapy Stimulating Adoption of Acupuncture Treatment
Rockville, Nov. 27, 2023 (GLOBE NEWSWIRE) — The global Acupuncture Treatment Market is pegged at US$ 44.55 billion in 2024, as per a new study published by Fact.MR, a market research and competitive intelligence provider.
Worldwide revenue from acupuncture treatment is projected to reach US$ 141.51 billion by 2034-end. Rising awareness about the side effects of medicinal drugs is predicted to contribute to record demand for acupuncture treatment for pain management. Establishment of many pain management clinics and wellness centers, especially in East Asia and Europe, is forecasted to widen the application of acupuncture treatment solutions.
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Key Segments of Acupuncture Treatment Industry Research Report
| By Service Type | By End User | By Application | By Region |
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Governments from several countries are contributing to increased demand for acupuncture treatment options with awareness campaigns. They are also offering high-level training programs and education to non-medical personnel in acupuncture, which is forecasted to support private acupuncture practices.
Rising demand for acupuncture treatment services in hospital settings among patients is attributed to the ineffectiveness of many conventional treatment options for pain. In addition, increasing adoption of alternative complementary treatment options is forecasted to promote the need for superior patient outcomes.
Key Takeaway from Market Study
- The global acupuncture treatment market is forecasted to reach US$ 141.51 billion by the end of 2034.
- Worldwide demand for acupuncture therapy is forecasted to advance at a CAGR of 12.3% from 2024 to 2034.
- Demand for acupuncture treatment solutions in the United States is predicted to advance at a 10% CAGR and reach a market value of US$ 28.53 billion by 2034-end.
- East Asia is predicted to hold 25.1% share of global market revenue by 2034.
- Demand for moxibustion services is projected to increase at 14.4% CAGR and reach a value of US$ 14.12 billion by 2034.
- Sales of acupuncture treatment solutions for musculoskeletal conditions are predicted to advance at a CAGR of 11.3% and reach US$ 61 billion by the end of 2034.
“Rising burden of chronic pain and adoption of many alternative therapeutic approaches to manage pain and similar other diseases are driving opportunities for providers of acupuncture treatment,” says a Fact.MR analyst.
Increasing Cases of Chronic Diseases Fueling Demand for Supportive Care in United States
The United States is estimated to hold 84.4% share of the North American market in 2024. Rising cases of chronic conditions are predicted to boost the demand for palliative and supportive care in the United States. Increasing clinical and scientific study outcomes that support the effectiveness of acupuncture treatment in the management and relief of pain are projected to generate revenue streams.
Key Market Players
TCM Australia, Jingshen TMC Clinic, U.K., ACTCM, U.S., PRTCM, Ireland, NZCMAS, New Zealand, ChinaMed Charlottesville, ATCM, U.K., Beijing Acupuncture and Herbal Clinic, ETCMA, U.K., and Flow Acupuncture & Asteopathy are prominent players operating in the global market.
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| Report Attribute | Details |
| Value Projection (2034) | USD 141.51 Billion |
| Growth Rate (2024-2034) | 12.3% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 84 Tables |
| No. of Figures | 112 Figures |
In the European region, Germany stands out among the 12 member states with acupuncture recognized as a distinctive therapeutic system. The European Medical Association’s acknowledgment of acupuncture as an additional qualification in the medical sector enhances growth prospects in the market.
The United States is projected to contribute 82.4% of regional market revenue by the end of 2034. The high prevalence of chronic conditions in the United States is expected to drive the adoption of palliative and supportive care. Increasing clinical and scientific studies supporting the effectiveness of acupuncture for pain management and relief further fuel its adoption.
China is estimated to hold a 49.1% share of regional market revenue in 2024. China’s prominence in East Asia is attributed to supportive conventional medicine techniques, expanding the application scope of acupuncture treatment. The increasing number of moxibustion and acupuncture practitioners in China creates opportunities for players in the country.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the acupuncture treatment market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on service type (needle acupuncture, electro-acupuncture, auricular acupuncture, moxibustion, cupping, and others), application (musculoskeletal conditions, fatigue & CNS conditions, respiratory conditions, digestive conditions, and other conditions), and end user (hospitals, wellness centers, and clinics), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
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