Botanicals & Acupuncture Market

Botanicals & Acupuncture Market by Interventions (Botanicals and Acupuncture), Distribution Methods (Direct Sales, E-sales, and Distance Correspondence), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: HC-684
  • Author: Growth Market Reports
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  • No. Of Pages: 182
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The global botanicals & acupuncture market size was valued at USD 39 billion in 2020 and is anticipated to expand at a CAGR of 20% during the forecast period, 2021–2028. In medical field penetration of botanicals is rising due to extensive acceptance of multicomponent drugs for manufacturing. In botanical manufacturing process reverse pharmacology strategy increased its substantial tractions by implementing reverse-engineering of traditional herbal medicines. Compared with conventional synthetic drug manufacturing this strategy helps to decrease total required time and reduces costs for drug development, which fuels the botanicals and acupuncture market.
 

Botanicals & Acupuncture Market Key Takeaways


Industrialized economies such as Europe, the U.S. and China are focused on efficiency and safety of botanical drugs. These regions demand the use of data related to Mechanism of Action, pharmacokinetics, and Drug-Drug Interaction. Hence, partnerships between organizations who gives adequate resources and institutes are suggested for successful release of botanical complementary therapies in the market.

In herbal medicine manufacturing process plant resources extended its value. Usage of traditional plant resource is a key drug development material and holds more than 71% of overall traditional medication. India, South Korea, Germany, Japan, and China are some top countries which are developing different strategies for obtaining plat resources in the herbal medicines development.

Use of technology is significantly rising among the professionals present in the market. Combination of cutting-edge devices along with traditional acupuncture Chinese medicine is projected to increase its acceptance in coming years. Major market players are investing in development of manufacturing plants for successful commercial growth of ayurvedic medicines. Corporations also implemented other promotional strategies such as E-mail, use of Google AdWords, social media, and content marketing for reinforcing their revenue generation. These promotional activities are projected to propel the botanical health modalities.

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing trust of patients and common preference for technology-based therapies and growing number of practitioners using advanced tools are anticipated to push the market.
  • Growing acceptance of herbal medicines and adoption of beneficial strategies for botanical drugs manufacturing are key factors driving the market growth.
  • Rise in the use of internet and e-marketing channels for communication with patients push the market growth.
  • Advantages of nanotechnology in acupuncture-based treatments gives significant growth in the market.
  • High cost and no insurance coverage for acupuncture treatment are expected to impede the market growth during the forecast period.

Scope of the Report

The report on the global botanicals & acupuncture market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Botanicals & Acupuncture Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Interventions (Botanicals and Acupuncture), Distribution Methods (Direct Sales, E-sales, and Distance Correspondence)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Modern Acupuncture, Chiropuncture, Inc., ARC Acupuncture & Physical Therapy, Ayush Ayurvedic Pte Ltd., Green Cross Corp, NatureKue, Inc., Columbia Nutritional, Herb Pharm, Herbal Hills, Pure Encapsulations, Inc., Sheng Chang Pharmaceutical Company, LKK Health Products Group, Nordic Nutraceuticals, and Helio USA Inc.

 

Market Segment Insights

Botanical segment is projected to account for a key market share
In terms of interventions, the botanicals & acupuncture market is divided into botanical and acupuncture. The botanical segment is expected to account for a key share of the market during the forecast period. The ancient form of alternative medicinal practice is botanical complementary therapy. Also, medicinal plants and herbs popularity is increasing because they can be transported and processed in various formulations. The rise in preference of herbal medicines and botanical medicine among people is expected to drive the segment growth.

Number of acupuncture clinics are growing constantly across globe. This is projected to increasing number of recognized educational institutes offering master’s degree programs and Ph.D. for traditional Chinese medicine. Also, many researchers are discovering novel acupuncture mechanisms and its applications, such as acupuncture for women’s health. All these factors are anticipated to boost the acupuncture segment growth.

The appearance of additional acupuncture-based spa services is also propel the segment growth. Acupuncture offers various spa therapies such as relaxation, energy enhancements, weight loss, stress relief, and beauty treatments. Moreover, growing number of practitioners using advanced tools and marketing intelligence are fuelling the segment growth.
 

Botanicals & Acupuncture Market By Interventions


Distribution channel segment is anticipated to register a substantial CAGR
Based on distribution methods, the botanicals & acupuncture market is segregated into direct sales, e-sales, and distance correspondence. The direct sales segment is expected to hold a key share of the market in the coming years due to increasing preference by patients for complementary therapeutic procedures such as acupuncture and naturopathy. Different marketing strategies are implemented by practitioners of Ayurveda and naturopathy for the growth of direct sales between the patient and practitioner.

To expand the business many entities and practitioners are discovering the direct distribution sales channel. For increasing profitability these entities are concentrating on therapeutic approaches and doctor or practitioner-patient interaction. Also rise in demand, growing number of new entrants, and scientific evidence are anticipated to fuel the segment growth.

However the distance correspondence segment is anticipated to expand at a rapid pace during the forecast period owing to rising employment of distance correspondence education programs for training professionals present in the market.

Europe is expected to dominate the market
On the basis of regions, the botanicals & acupuncture market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Europe is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to positive execution of traditional Chinese and botanical medicines at commercial level. Also, in this region homeopathy is significantly accepted as an alternative medicine. The number of registered homeopathy practitioners in the Germany has been doubled in the last decade. This boosts the generation of revenue in the European market.

Ancient medicines such as Ayurveda and homeopathy are originated from Asia Pacific countries. Globally rising popularity of Ayurveda and traditional Chinese medicine is making Asia Pacific as a profitable zone for local and international bodies operating in the market. As per researcher, in china to cure chronic ailments around 81% of people prefers traditional medicine supplements and acupuncture-based therapies. The COVID-19 pandemic situation has driven the demand of acupuncture and Chinese herbs, which is anticipated to fuel the regional growth over the forecast period.
 

Botanicals & Acupuncture Market By Regions

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Botanicals & Acupuncture Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Botanicals & Acupuncture Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Botanicals & Acupuncture Market - Supply Chain
  4.5. Global Botanicals & Acupuncture Market Forecast
     4.5.1. Botanicals & Acupuncture Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Botanicals & Acupuncture Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Botanicals & Acupuncture Market Absolute $ Opportunity
5. Global Botanicals & Acupuncture Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Botanicals & Acupuncture Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Botanicals & Acupuncture Demand Share Forecast, 2019-2026
6. North America Botanicals & Acupuncture Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Botanicals & Acupuncture Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Botanicals & Acupuncture Demand Share Forecast, 2019-2026
7. Latin America Botanicals & Acupuncture Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Botanicals & Acupuncture Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Botanicals & Acupuncture Demand Share Forecast, 2019-2026
8. Europe Botanicals & Acupuncture Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Botanicals & Acupuncture Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Botanicals & Acupuncture Demand Share Forecast, 2019-2026
9. Asia Pacific Botanicals & Acupuncture Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Botanicals & Acupuncture Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Botanicals & Acupuncture Demand Share Forecast, 2019-2026
10. Middle East & Africa Botanicals & Acupuncture Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Botanicals & Acupuncture Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Botanicals & Acupuncture Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Botanicals & Acupuncture Market: Market Share Analysis
  11.2. Botanicals & Acupuncture Distributors and Customers
  11.3. Botanicals & Acupuncture Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Modern Acupuncture
     11.4.2. Chiropuncture, Inc.
     11.4.3. ARC Acupuncture & Physical Therapy
     11.4.4. Ayush Ayurvedic Pte Ltd.
     11.4.5. Green Cross Corp

Segments Covered in the Report
The global botanicals & acupuncture market has been segmented on the basis of

Interventions

  • Botanicals
  • Acupuncture

Distribution Methods

  • Direct Sales
  • E-sales
  • Distance Correspondence

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Modern Acupuncture
  • Chiropuncture, Inc.
  • ARC Acupuncture & Physical Therapy
  • Ayush Ayurvedic Pte Ltd.
  • Green Cross Corp
  • NatureKue, Inc.
  • Columbia Nutritional
  • Herb Pharm
  • Herbal Hills
  • Pure Encapsulations, Inc.
  • Sheng Chang Pharmaceutical Company
  • LKK Health Products Group
  • Nordic Nutraceuticals
  • Helio USA Inc.

Key players competing in the botanicals & acupuncture market are Modern Acupuncture, Chiropuncture, Inc., ARC Acupuncture & Physical Therapy, Ayush Ayurvedic Pte Ltd., Green Cross Corp, NatureKue, Inc., Columbia Nutritional, Herb Pharm, Herbal Hills, Pure Encapsulations, Inc., Sheng Chang Pharmaceutical Company, LKK Health Products Group, Nordic Nutraceuticals, and Helio USA Inc.

Many key players are implementing strategic initiatives to enhance their services in the botanical and acupunctural market. Addition to this, key players are undertaking strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance, in October 2019, Strand Equity funded Modern Acupuncture for access improvement of alternative medicine. Strand Equity is a firm that invests largely in popular and advanced brands and consumer services. Also, with this investment, company intended to open 11 additional facilities across the U.S.
 

Botanicals & Acupuncture Market By Key Players

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