Botanicals And Acupuncture Market Analysis: Key Insights on Growth Rates, Trends, and Major Opportunities
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What is the Future CAGR of the Botanicals And Acupuncture Market, and How Will It Impact Industry Expansion?
In recent years, there has been a remarkable growth in the size of the botanicals and acupuncture market. It is projected to increase from a market value of $92.36 billion in 2024 to a staggering $111.46 billion in 2025, resulting in a compound annual growth rate (CAGR) of 20.7%. Factors contributing to growth during the historic period include an upsurge in natural therapies, a surge in orthocases, a rise in the ageing population, enhanced diagnostics, and heightened awareness.
In the upcoming years, the market size for botanicals and acupuncture is anticipated to see substantial growth, reaching $238.42 billion in 2029 with a compound annual growth rate (CAGR) of 20.9%. The growth during this forecasted period can be connected to the increasing number of surgeries, expansion of ambulatory surgical centers, a surge in sports-related injuries, and rising accident rates. The major trends anticipated in this timeframe involve the integration of traditional practices into conventional healthcare, the use of botanicals in the making of functional foods and drinks, research backed by evidence on the efficacy of botanicals, progress in acupuncture techniques, and the fusion of botanicals and acupuncture in wellness tourism.
Which Major Market Drivers Are Expected to Boost the botanicals and acupuncture Market’s Growth Potential?
The botanicals and acupuncture market is likely to see growth due to the rising trend of herbal medications. Referred to as botanical medicine, herbal medications include products derived from plant extracts, herbs, or botanical components and are utilized for medicinal applications. These medications are often combined with acupuncture in traditional Chinese medicine (TCM) to strengthen treatment effects. For instance, as per the World Health Organization (WHO) in August 2023, roughly 4 billion people or 80% of the global population use herbal medicine as part of their health care. Additionally, in the U.S., 30% of the population uses herbal remedies annually. Hence, the popularity of herbal medications is driving the growth of the botanical and acupuncture market.
Market Driver for Botanicals And Acupuncture: Growth Boosted by E-Commerce Surge
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What Are the Top Market Players Propelling the Growth of the Botanicals And Acupuncture Industry?
Major companies operating in the botanicals and acupuncture market report are:
• Archer Daniels Midland Company_x000D_
• International Flavors & Fragrances Inc._x000D_
• Nu Skin Enterprises Inc._x000D_
• Green Cross Corp._x000D_
• Blue Sky Botanics Ltd._x000D_
What Are the Key Trends to Watch in the Botanicals And Acupuncture Market Over the Coming Years?
Leading firms in the botanicals and acupuncture market are concentrating their efforts on the development of drugs like TC Cream to create products that are supported by medical evidence. TC Cream presents a cutting-edge topical treatment for managing psoriasis in patients by targeting several autoimmune signalling routes to deliver effective therapy. For example, in May 2023, HiST Pharma’s Chinese research institution, the Psoriasis Research Institute of Guangzhou (PRIG), gained the clearance to start a Phase III clinical trial for TC Cream in the United States with an approval for its Investigational New Drug (IND). TC Cream is an innovative botanical drug that alleviates the symptoms of many people dealing with the upsetting effects of psoriasis, establishing it as a global leading treatment for the condition.
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What Are the Major Segments of the Botanicals And Acupuncture Market and Their Role in Driving Growth?
The botanicals and acupuncture market covered in this report is segmented –
1) By Intervention: Botanicals, Acupuncture
2) By Application: Prescription, Over The Counter (OTC)
3) By Distribution Method: Direct Sales, E-Sales, Distance Correspondence
Subsegments:
1) By Botanicals: Herbal Supplements, Medicinal Plants, Essential Oils, Plant-Based Extracts
2) By Acupuncture: Traditional Acupuncture, Electroacupuncture, Acupressure, Auricular Acupuncture
What Regions Are Dominating the Botanicals And Acupuncture Market Growth?
Europewas the largest region in the botanicals and acupuncture market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the botanicals and acupuncture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Are the Defining Aspects of the Botanicals And Acupuncture Market Landscape?
Botanicals and acupuncture are two different healthcare approaches, rooted in traditional and alternative medicine practices. Botanicals refer to substances derived from plants and often used for medicinal, therapeutic, or dietary purposes. Acupuncture is a traditional Chinese medical practice that involves the insertion of thin needles into specific points on the body to stimulate and balance the flow of vital energy. They are often used with conventional medical treatments or as complementary therapies to enhance overall health and well-being.
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