The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Botanicals And Acupuncture Global Market Report 2024, the botanicals and acupuncture market is expected to show promising growth in the forecast period.

The botanicals and acupuncture market is experiencing rapid expansion, driven by increased demand for natural therapies and growing health awareness. This blog delves into the market’s current state, future projections, key drivers, and major trends.

Current Market Dynamics

• Market Size 2023: $75.88 billion
• Expected Market Size 2024: $92.36 billion
• CAGR (2023-2024): 21.7%

Key Growth Drivers:

• Natural Therapies: Rising preference for natural treatment methods.
• Orthopedic Cases: Increase in orthopedic cases requiring natural interventions.
• Aging Population: Growing elderly population seeking alternative therapies.
• Diagnostics and Awareness: Improved diagnostic techniques and awareness about natural therapies.

Future Market Projections

• Market Size 2028: $197.08 billion
• CAGR (2024-2028): 20.9%

View More On The Botanicals And Acupuncture Market Report 2024 – https://www.thebusinessresearchcompany.com/report/botanicals-and-acupuncture-global-market-report

Forecasted Growth Drivers:

• Surgical Volume: Increasing number of surgeries requiring complementary treatments.
• Ambulatory Surgical Centers: Expansion of facilities providing alternative therapies.
• Sports Injuries: Rise in sports-related injuries needing natural recovery methods.
• Accidents: Higher rates of accidents leading to demand for non-invasive treatments.

Major Trends:

• Integration in Healthcare: Traditional practices becoming part of mainstream healthcare.
• Botanicals in Food: Incorporation of botanicals in functional foods and beverages.
• Evidence-Based Research: Growing research supporting the efficacy of botanicals.
• Innovative Acupuncture Techniques: Advancements in acupuncture methods.
• Wellness Tourism: Integration of botanicals and acupuncture in wellness tourism.

Popularity of Herbal Medications
Herbal Medications and Market Growth

• Herbal Medicine: Use of plant extracts and herbs for medicinal purposes.
• Combination with Acupuncture: Often used alongside acupuncture in Traditional Chinese Medicine (TCM).
• Global Reliance: According to the World Health Organization (WHO), 80% of the global population uses herbal medicine.

Regional Usage:

• United States: 30% of the population uses herbal remedies annually.

Key Market Players:

• 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

Innovative Drug Development
Focus on Evidence-Based Products

• TC Cream: An innovative topical solution for psoriasis targeting multiple autoimmune pathways.
• Clinical Trials: In May 2023, the Psoriasis Research Institute of Guangzhou received approval for Phase III clinical trials in the US.

Impact:

• Psoriasis Treatment: TC Cream represents a pioneering botanical drug for psoriasis, offering relief to many patients.

Strategic Acquisitions
Expanding Botanical Solutions

• Fuerst Day Lawson Ltd.: Acquired Quest Ingredients Ltd. in June 2022 to enhance its product portfolio with botanical-formulated solutions.

Strategic Benefits:

• High-Quality Extracts: Enhanced capability to provide customized flavors and high-quality botanical extracts.
• Innovative Capabilities: Expansion of innovative expertise in botanical products.

Market Segmentation
The botanicals and acupuncture market is segmented by:

1. Intervention:
   • Botanicals
   • Acupuncture
2. Application:
   • Prescription
   • Over The Counter (OTC)
3. Distribution Method:
   • Direct Sales
   • E-Sales
   • Distance Correspondence

Regional Insights

• Europe: The largest region in the botanicals and acupuncture market in 2023.
• Asia-Pacific: Expected to be the fastest-growing region during the forecast period.

Conclusion
The botanicals and acupuncture market is set for exponential growth, fueled by rising demand for natural therapies, advancements in diagnostic techniques, and strategic acquisitions. With a focus on integrating traditional practices into mainstream healthcare and increasing evidence-based research, the market is poised to offer improved health outcomes and expanded treatment options in the coming years.

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