Business for Sale Industry Economics
2005 - 2020
2020 - 2026
Acupuncture is a form of traditional Chinese medicine that is based on the belief that energy travels through the body along paths known as meridians.
Acupuncturists use fine needles to stimulate key points along these meridians to clear energy blockages and facilitate self-healing.
This type of therapy has grown in popularity and acceptance in Western medicine over the next five years, as it can be used to cure a wide range of illnesses without the use of pharmaceutical medications.
As a result, sales for the Acupuncturists industry are forecast to grow at a 1.7 percent annualized pace over the next five years to 2020.
Despite strong development over time, treatment shortages, cancellations, and stay-at-home orders due to the COVID-19 (coronavirus) pandemic have resulted in a 14.0 percent sales decrease to $405.6 million in 2020 alone, as well as a profit decline.
Acupuncture is a form of traditional Chinese medicine in which fine needles are used to stimulate acupoints, or main points around energy meridians, which may then aid patients with pain and facilitate self-healing.
Alternative therapy, like acupuncture, has been more commonly recognized as a method of treatment in recent years, with scientific findings documenting the usefulness of these modalities.
The number of US adults who have used some kind of complementary medicine has risen to a reported 33.2 percent in 2012, up from 32.3 percent in 2002, according to the US Centers for Disease Control and Prevention (CDC) (latest data available).
According to the CDC, 2.1 percent of those who used complementary medicine used acupuncture facilities in 2012, up from 1.5 percent in 2002.
The sector has grown modestly over the five years to 2020 as a result of the awareness of Acupuncturists industry offerings and a continuing struggle of rising healthcare costs.
Revenue for the Acupuncturists industry is forecast to grow at an annualized pace of 1.7 percent to $405.6 million over the next five years.
The Acupuncturists industry is predicted to expand over the next five years as complementary and alternative medicine (CAM), like acupuncture, becomes more broadly recognized as an effective treatment tool.
As a result, sales in the sector is projected to rise at an annualized rate of 2.1 percent over the next five years, hitting $449.8 million.
Following a predicted downturn in 2020 due to postponed therapies as a result of the COVID-19 (coronavirus) pandemic, continuing concerns of virus transmission are likely to lead to a sluggish return to acupuncture sessions.
This business involves medical professionals who cure patients by inserting and manipulating needles into their bodies.