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What Is the Forecast for the Botanicals And Acupuncture Market Growth in 2025?

In the past few years, the botanicals and acupuncture market has experienced exponential growth. With a compound annual growth rate (CAGR) of 20.7%, it is projected to increase from $92.36 billion in 2024 to $111.46 billion in 2025. The significant growth observed during the historical period can be attributed to the rising interest in natural therapies, an increase in orthopedic cases, a growing elderly population, and enhanced diagnostics and awareness.

What Is the Forecast for the Botanicals And Acupuncture Market Size Through 2029?

Expectations are high for a significant expansion of the botanicals and acupuncture market in the forthcoming years. The market is predicted to escalate to $238.42 billion by 2029 with a 20.9% compound annual growth rate (CAGR). An increase in surgical procedures, the expansion of outpatient surgical centers, more prevalent sports injuries, and heightened accident rates contribute to this projected growth for the specified period. The foreseeable trends for this period encompass integrating traditional methods into mainstream healthcare, introducing botanicals into functional foods and drinks, conducting evidence-based research on botanical effectiveness, launching innovative acupuncture methodologies, and blending botanicals and acupuncture in wellness tourism.

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What are the Key Market Players in Botanicals And Acupuncture Market and How They’re Evolving?

Major companies operating in the botanicals and acupuncture market report are Archer Daniels Midland Company, International Flavors & Fragrances Inc., Nu Skin Enterprises Inc., Green Cross Corp., Blue Sky Botanics Ltd., Martin Bauer Group, Naturex S.A, Bionorica SE, Lee Kum Kee Health Products Group Limited, Nutraceutical Corporation, Indena S.p.A, P.T. Indesso Aroma Group, Columbia Nutritional LLC, Pukka Herbs Ltd., Gaia Herbs Inc., BI Nutraceuticals Inc., Bio-Botanica Inc., Golden Needle Acupuncture Herbal & Medical Supply, Arjuna Natural Extracts Ltd., Nordic Nutraceuticals ApS, Solaray Inc., Sabinsa Corporation, Salus-Haus GmbH & Co. KG, Synergy Flavors Inc., Herb Pharm LLC, WellSpring Acupuncture, Modern Acupuncture Holdings LLC, Ayush Ayurvedic Pte Ltd., Botanic Innovations LLC, Ransom Naturals Ltd.

What Are the Primary Growth Drivers in the Botanicals And Acupuncture Market?

The surge in popularity of natural remedies or herbal medications is anticipated to accelerate the expansion of the botanicals and acupuncture sector. This refers to medicinal substances created from plant extracts, herbs, or botanicals. In traditional Chinese medicine (TCM), these are typically combined with acupuncture to enhance the effectiveness of the treatment. For example, as per the World Health Organization (WHO) in August 2023, around 80% of the world’s population, which sums up to approximately 4 billion individuals, use herbal medicine as part of their healthcare routine. Also, in the United States, 30% of the population use herbal remedies yearly. Hence, the increasing popularity of herbal medications is pushing the growth of the botanical and acupuncture market. The botanicals and acupuncture market is getting a boost with the growing permeation of e-commerce. This refers to the process of exchanging goods and services via electronic networks like the internet. E-commerce is transforming the means by which botanicals and acupuncture are accessed and interacted with, facilitating clinics and medical practitioners to disseminate information about their services, qualifications, and patient feedback. For example, according to the International Trade Administration, a US Government agency, in November 2023, eCommerce sales in the UK are projected to see an average yearly growth of 12.6% by 2025. Consumer eCommerce accounts for 36.3% of the UK’s total retail business, and by 2025, eCommerce revenue is expected to hit $285.60 billion. Hence, this rise in e-commerce penetration is fuelling growth in the botanical and acupuncture market.

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What Are the Leading Segments in the Global Botanicals And Acupuncture Industry?

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 Are the Key Market Trends in the Botanicals And Acupuncture Industry?

Key players in the botanicals and acupuncture market, such as TC Cream, are concentrating their efforts on the development of evidence-based and scientifically sound products. TC Cream has introduced a novel topical treatment aimed at alleviating psoriasis. This innovative treatment acts on several autoimmune signaling routes to provide an effective cure. For example, in May 2023, the Psoriasis Research Institute of Guangzhou (PRIG), a fully independent research unit of HiST Pharma in China, received permission to start Phase III clinical trials for TC Cream in the United States, with authorization for its Investigational New Drug (IND). TC Cream is a revolutionary botanical drug that has brought relief to many people dealing with the distressing effects of psoriasis, making it the world’s first such solution for this condition.

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What Is the Regional Outlook for the Botanicals And Acupuncture Market?

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.

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This Report Delivers Insight On:

1. How big is the botanicals and acupuncture market, and how is it changing globally?

2. Who are the major companies in the botanicals and acupuncture market, and how are they performing?

3. What are the key opportunities and risks in the botanicals and acupuncture market right now?

4. Which products or customer segments are growing the most in the botanicals and acupuncture market?

5. What factors are helping or slowing down the growth of the botanicals and acupuncture market?

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