Botanicals & Acupuncture Market to Grow with a CAGR of 8.04% through 2028

A shift toward holistic well-being and supportive research are expected to drive the Global Botanicals & Acupuncture Market growth in the forecast period, 2024-2028.

According to TechSci Research report, “Botanicals & Acupuncture Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Botanicals & Acupuncture Market stood at USD 39.10 billion in 2022 and is anticipated to grow with a CAGR of 8.04% in the forecast period, 2024-2028. This can be attributed to supportive research and clinical studies. As interest in botanicals and acupuncture has grown, so too has the body of scientific research supporting their efficacy. Clinical studies and research publications have provided evidence of the positive effects of various botanical compounds and acupuncture treatments on a wide range of health conditions. This empirical data has bolstered consumer confidence in these therapies.

Furthermore, the development of advanced herbal formulations is on the rise. Herbalists and researchers are exploring new ways to combine botanical ingredients for enhanced therapeutic effects. These formulations aim to address specific health conditions and provide alternatives to pharmaceutical drugs.

The widespread acceptance of producing multi-component drugs is poised to boost the utilization of botanicals in the medical sector. The adoption of a reverse pharmacology approach has gained substantial momentum in botanical manufacturing, involving the reverse-engineering of traditional herbal medicines. This strategic approach not only reduces the time and costs associated with drug development but also stimulates the growth of the botanicals and acupuncture market.

Ensuring the safety and effectiveness of botanical drugs is a critical focus for industrialized economies like China, Europe, and the U.S. These regions require access to data related to pharmacokinetics, drug-drug interactions, and mechanism of action. Consequently, it is recommended that countries or organizations collaborate to provide the necessary resources and institutions to ensure the successful introduction of botanical complementary therapies.

Plant resources have gained significant importance in the production of herbal medicine, with traditional plant resources serving as a primary material for drug development, accounting for over 70% of traditional medications. Countries such as Germany, China, South Korea, Japan, and India have devised various strategies for sourcing plant resources in the development of herbal medicines, including those for treating conditions like malaria.

The adoption of technology has witnessed a substantial increase among professionals operating in this market. The integration of traditional Chinese acupuncture with state-of-the-art devices is poised to gain significant popularity in the near future. Furthermore, patients' common preference and trust in technology-based therapies, coupled with an uptick in practitioners utilizing advanced tools, are expected to drive market growth.

Key players have made investments and established manufacturing facilities to develop strategies that facilitate the successful commercial scaling-up of ayurvedic medicines. These companies have also embraced promotional tactics such as social media, email marketing, content marketing, and Google AdWords to enhance their revenue generation. These promotional activities are anticipated to propel the adoption of botanical complementary and alternative health modalities.

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The Global Botanicals & Acupuncture Market is segmented into intervention, distribution method, regional distribution, and company.

Based on its intervention, Botanicals dominated the market and constituted the largest portion of global revenue in 2022. Botanical complementary therapy represents one of the oldest forms of alternative medicine. Moreover, herbs and medicinal plants have gained substantial popularity due to their adaptability to various processing and transport methods. The increasing preference for herbal remedies among the elderly and the use of botanical medicine for women's health are also contributing to the growth of this segment.

Furthermore, the introduction of additional acupuncture-based spa services is further fueling the growth of this segment. Acupuncture is being marketed for various spa offerings such as weight loss, relaxation, beauty treatments, energy enhancement, and stress relief. Additionally, the growing number of practitioners leveraging marketing intelligence and advanced tools in this field is having a positive impact on segment growth.

Based on distribution method, the direct sales segment emerged as the leader in terms of revenue generation in 2022. Patients who lean towards specific complementary therapies, particularly acupuncture and naturopathy, largely prefer direct sales or medical consultations. To enhance direct sales and secure a larger share of revenue, Ayurveda and naturopathy practitioners have employed various marketing strategies to facilitate direct interaction between practitioners and patients.

The distance correspondence segment is anticipated to experience the most rapid growth in the forecast period. This growth is primarily attributed to the increasing utilization of distance correspondence education programs for training professionals operating within this market space. Furthermore, practitioners have introduced long-distance energy treatments and virtual acupuncture therapies, which are further contributing to the expansion of this segment.

Major companies operating in Global Botanicals & Acupuncture Market are:

• Modern Acupuncture
• Chiropuncture, Inc.
• ARC Acupuncture & Physical Therapy
• NatureKue, Inc.
• Columbia Nutritional, LLC
• Herb Pharm
• HILLS HERBAL CARE
• Pure Encapsulations Inc
• Ayush Ayurveda
• SHENG CHANG PHARMACEUTICAL CO., LTD.

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“The Global Botanicals & Acupuncture Market is in a state of evolution, driven by emerging trends that reflect the changing healthcare landscape. From personalized healthcare solutions to digital integration, ethical sourcing, and the integration of complementary therapies with conventional medicine, these trends are shaping the future of the market. As consumer awareness and demand for natural and holistic healthcare options continue to grow, the Botanicals & Acupuncture Market is poised for further expansion and innovation in the years to come. Practitioners, businesses, and researchers in this field are adapting to these trends to meet the evolving needs of a health-conscious global population,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Botanicals & Acupuncture Market By Intervention (Botanicals (Ayurveda, Naturopathy, Homeopathy), Acupuncture), By Distribution Method (Direct Sales, E-Sales, Distance Correspondence), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Botanicals & Acupuncture Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Botanicals & Acupuncture Market.

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