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How has the botanicals and acupuncture market grown in recent years?

In recent years, there has been exponential growth in the botanicals and acupuncture market size. Its expected expansion from $92.36 billion in 2024 to $111.46 billion in 2025 represents a compound annual growth rate (CAGR) of 20.7%. The previous period’s growth can be credited to several factors such as the surfacing of natural therapies, the rise in orthocases, an aging population, and enhanced diagnostics and awareness.

How is the botanicals and acupuncture market size expected to evolve during the forecast period?

The botanicals and acupuncture sector is anticipated to experience dramatic expansion in the coming years, with its market size projected to reach $238.42 billion by 2029, growing at a compound annual growth rate (CAGR) of 20.9%. This predicted growth during the forecast period can be linked to increased surgical procedures, the proliferation of ambulatory surgical centers, a surge in sports-related injuries, and higher accident rates. Trends anticipated to dominate during the forecast period include the merging of traditional methods into mainstream healthcare, the use of botanicals in functional food and beverage products, research-supported evidence of botanical efficacy, innovative acupuncture approaches, and the combined use of botanicals and acupuncture in wellness tourism.

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Which key drivers are propelling the botanicals and acupuncture market’s growth?

The escalating usage of herbal remedies is anticipated to spur the development of the botanicals and acupuncture market. Herbal remedies or botanical medicine are goods produced from plant extracts, herbs, or botanical substances employed for medicinal uses. In traditional Chinese medicine (TCM), these remedies are often combined with acupuncture to amplify the therapeutic effects. An illustration of this was in August 2023 when, according to the World Health Organization (WHO), a Switzerland-based agency of the United Nations which oversee international public health affairs, nearly 4 billion people, accounting for 80% of the global populace, depended on herbal medicine as part of their healthcare. Additionally, in the United States annually, 30% of citizens use herbal treatments. Hence, the escalating use of herbal medications is propelling the growth of the botanical and acupuncture market. The growth of the botanicals and acupuncture market is also predicted to be boosted by the rising incursion of e-commerce. E-commerce refers to the trading of commodities and services through digital networks such as the internet. This tool is transforming how individuals gain access to and interact with botanicals and acupuncture by providing clinics and practitioners a platform to distribute information regarding their services, qualifications, and patient feedback. For instance, the International Trade Administration, a US-based Government agency, stated in November 2023 that by 2025, eCommerce sales in the UK is estimated to grow annually at 12.6%. The consumer eCommerce consists of 36.3% of the UK’s total retail industry, and it is projected that by 2025, eCommerce revenue should hit $285.60 billion. Therefore, the rising incursion of e-commerce is spurring the growth of the botanical and acupuncture market.

What are the market segments in the 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

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Which leading companies are shaping the growth of the botanicals and acupuncture market?

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 key trends are currently impacting the botanicals and acupuncture market’s development?

Leading enterprises in the botanicals and acupuncture market are concentrating their efforts on the production of new drugs, such as TC Cream, to produce scientifically backed and medically validated products. TC Cream is a revolutionary topical remedy aimed at managing psoriasis in patients, impacting various autoimmune signaling pathways to deliver a potent cure. For instance, in May 2023, HiST Pharma’s wholly-owned Psoriasis Research Institute of Guangzhou (PRIG) in China received approval to commence a Phase III clinical trial for TC Cream in the United States after gaining approval for its Investigational New Drug (IND). TC Cream is a significant development in botanical drugs, providing relief to numerous people struggling with the debilitating effects of psoriasis and serving as the first of its kind globally for treating this condition.

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Which geographic areas are influencing the growth of 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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