What Is The Current and Historic Market Size Analysis Of The Botanicals And Acupuncture Market?
The botanicals and acupuncture market has seen considerable growth due to a variety of factors.
• In recent years, there has been a remarkable growth in the size of the botanicals and acupuncture market. It is projected to increase from a market value of $92.36 billion in 2024 to a staggering $111.46 billion in 2025, resulting in a compound annual growth rate (CAGR) of 20.7%.
Factors contributing to growth during the historic period include an upsurge in natural therapies, a surge in orthocases, a rise in the ageing population, enhanced diagnostics, and heightened awareness.
What are the Market Size and Expected Growth Rates for the Botanicals And Acupuncture Market?
The botanicals and acupuncture market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, the market size for botanicals and acupuncture is anticipated to see substantial growth, reaching $238.42 billion in 2029 with a compound annual growth rate (CAGR) of 20.9%.
The growth during this forecasted period can be connected to the increasing number of surgeries, expansion of ambulatory surgical centers, a surge in sports-related injuries, and rising accident rates. The major trends anticipated in this timeframe involve the integration of traditional practices into conventional healthcare, the use of botanicals in the making of functional foods and drinks, research backed by evidence on the efficacy of botanicals, progress in acupuncture techniques, and the fusion of botanicals and acupuncture in wellness tourism.
Which Key Drivers Are Propelling The Botanicals And Acupuncture Market's Growth?
The botanicals and acupuncture market is likely to see growth due to the rising trend of herbal medications. Referred to as botanical medicine, herbal medications include products derived from plant extracts, herbs, or botanical components and are utilized for medicinal applications. These medications are often combined with acupuncture in traditional Chinese medicine (TCM) to strengthen treatment effects. For instance, as per the World Health Organization (WHO) in August 2023, roughly 4 billion people or 80% of the global population use herbal medicine as part of their health care. Additionally, in the U.S., 30% of the population uses herbal remedies annually. Hence, the popularity of herbal medications is driving the growth of the botanical and acupuncture market.
Market Driver for Botanicals And Acupuncture: Growth Boosted by E-Commerce Surge
What Are The Key Segments Within The Global Botanicals And Acupuncture Market?
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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What Trends Are Reshaping The Future Of The Botanicals And Acupuncture Market?
Leading firms in the botanicals and acupuncture market are concentrating their efforts on the development of drugs like TC Cream to create products that are supported by medical evidence. TC Cream presents a cutting-edge topical treatment for managing psoriasis in patients by targeting several autoimmune signalling routes to deliver effective therapy. For example, in May 2023, HiST Pharma’s Chinese research institution, the Psoriasis Research Institute of Guangzhou (PRIG), gained the clearance to start a Phase III clinical trial for TC Cream in the United States with an approval for its Investigational New Drug (IND). TC Cream is an innovative botanical drug that alleviates the symptoms of many people dealing with the upsetting effects of psoriasis, establishing it as a global leading treatment for the condition.
Who Are the Key Players In 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 Are The Regional Insights Into 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.
