Botanicals & Acupuncture Market Report Delivering Growth Analysis With Key Trends Of Top Companies (2020-2027)

By Author: Himanshi Arya
Total Articles: 68
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The global botanicals & acupuncture market is anticipated to expand at substantial CAGR during forecast period, between 2020 and 2027. Botanicals include various types of medicines which are derived from the plants. It is also known as herbal products, botanical products, or phytomedicines. Ayurveda, homeopathy, and naturopathy are alternative medicines or therapies that are practiced for promoting cure and healing. Acupuncture is one of the key components of traditional Chinese medicine (TCM) in which thin needles are inserted at specific points in the body. Acupuncture therapy is used to relieve pain and to treat various conditions. Increasing awareness about the availability of herbal medicinal products and supplements has increased the usage of herbal medicines worldwide. Moreover, growing preference of patients for primary healthcare is driving the market growth.

Market Trends, Drivers, Restraints and Opportunities
• Growing adoption of combination of traditional acupuncture and Chinese medicine with cutting-edge devices are drive the market in the near future.
• Increasing inpatient preference ...
... for technology-based therapies is expected to fuel the market.
• Rising number of practitioners using advanced tools is estimated to drive the market.
• High costs and lack of insurance coverage for acupuncture treatments are expected to hamper the market.
• Introduction of nanotechnology in acupuncture-based treatments is anticipated to create lucrative opportunities in the market.

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

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Botanicals & Acupuncture Market Segment Insights:
The Botanicals segment is projected to hold significant market share
On the basis of intervention, the botanicals & acupuncture market can be segmented into botanicals and acupuncture. The botanicals segment is sub-segmented into Ayurveda, naturopathy, and homeopathy. The botanical segment is projected to grow at a significant pace during the forecast period owing to the increasing demand for botanical complementary therapy as an ancient alternative medicinal practice. Moreover, growing usage of botanicals in herbal supplements, homeopathic medicines, and other natural products is also expected to boost segment growth during the forecast period.

Prescription segment to hold significant share of the market
In terms of types, the botanicals & acupuncture market can be bifurcated into prescription and over the counter (OTC). The prescription segment is projected to grow at a substantial pace during the forecast period owing to increasing demand for botanicals and acupuncture therapies. Moreover, increasing awareness among people about Ayurveda, homeopathy, and naturopathy is expected to boost the market during the forecast period.

Direct sales segment accounted for substantial market share in 2019
Based on distribution channel, the market can be fragmented into direct sales, e-sales, and distance correspondence. The direct sales segment holds significant market share and is projected to expand at a rapid pace during the forecast period.Rising demand for direct sales channels or medical consultation by patients is projected to increase preference for complementary therapeutic procedures, such as naturopathy andacupuncture. Moreover, healthcare practitioners are focusing on implementing various marketing strategies to increase the adoption of botanicals and acupuncture.

Europe is expected to dominate the global market
On the basis of regions, the global botanicals & acupuncture market can be segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Europe accounts for a considerable share of the global market, owing to increasing demand for homeopathy as an alternative medicine in the region. Successful execution of traditional Chinese and botanical medicines on a commercial level in Europe is expected to boost the market in the region. Moreover, Asia Pacific is expected to be a prominent region for the market due to increasing demand for TCM and Ayurveda across the globe.

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