Botanical products contain whole, fragmented, or cut plants, plant parts, plant exudates, algae, fungus, or lichens. All botanical preparations are obtained through various methods such as pressing, squeezing, extraction, fractionation, distillation, concentration, drying, and fermentation. Botanicals are available in a variety of forms in the market, including oils, herbs, tablets, and powders. Even in this advanced age, botanicals are widely used by practically all demographic pools, ranging from new-born, youth, and adults, as dietary supplements and to cure chronic pains and injuries.
Acupuncture is the practice of utilizing thin metallic needles to enter human skin and create an energy flow known as ‘Qi' to promote overall human health by activating the central nervous system. Acupuncture has demonstrated excellent success in the treatment of mental stress, PMS, infertility, PCOS, menopause, and other hormonal abnormalities.
COVID-19 Impact analysis
Since November 2019, the global prevalence of COVID-19 has hampered the world's economy, social life, and politics. A complete lockdown was implemented globally to limit the infection in local areas. Travel and communication were prohibited due to the virus's terror while its effect and cure were unknown to humankind. Botanicals and acupuncture have aided the treatment of COVID-19 symptoms such as nausea, vomiting, sleeplessness, skin infections, shortness of breath, and other respiratory issues. Several clinical trials were conducted last year to assess the efficacy of acupuncture therapy. During the COVID-19 period, the botanicals and acupuncture market grew at higher points on the exponential curve.
Top Impacting Factors
- The rise in popularity of herbal medications and advantageous strategies used in the production of botanical products are important factors driving the botanicals and acupuncture market.
- The reverse pharmacology technique has gained traction in botanical production because it reduces the overall time and cost of medication development, which stimulates the expansion of the botanicals and acupuncture market.
- The use of nanotechnology in acupuncture-based treatments provides the market with significant potential opportunities.
- The increased penetration of the internet and e-marketing channels, such as video counselling and other electronic means used for patient interaction, stimulates the growth of the botanicals and acupuncture market.
- Botanicals and acupuncture can heal cancer, and the COVID-19 crisis is expected to open up plenty of new business opportunities for the market. Several studies suggest that botanicals and acupuncture can boost the immune system during chemotherapy and prevent nausea and vomiting. Acupuncture's role in increasing immunological function has been investigated in several studies.
- However, the high prices of acupuncture therapy and the lack of insurance coverage are hindering market expansion.
Market Trends
New Product Launches to Flourish Botanicals and Acupuncture Market
In October 2019, Modern Acupuncture received funding from Strand Equity, a firm that largely invests in advanced and popular consumer services and brands. This investment agreement was targeted towards the enhancement of access to alternative medicine. With this investment, the company planned to open 11 additional facilities across the U.S.
In May 2020, Firmenich SA launched its third Fragrance Atelier, in Grasse, Villa Botanica, intending to strengthen its leadership in the natural and sustainable product offering.
In May 2020, Lipoid Kosmetik AG supplemented its range of dermal messenger peptides with the launch of PhytoCodine. It is the world’s first anti-aging concentrate of natural matrikine-like peptides, which reprograms fibroblasts to accumulate extracellular matrix components characteristic of younger-looking skin.
Key Benefits of Report
- This study presents the analytical depiction of the botanicals and acupuncture along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the botanicals and acupuncture market share.
- The current market is quantitatively analyzed to highlight the botanicals and acupuncture market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed botanicals and acupuncture market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in Botanicals and Acupuncture Market Report
- Who are the leading market players active in the botanicals and acupuncture market?
- What current trends will influence the botanicals and acupuncture market in the next few years?
- What are the driving factors, restraints, and opportunities in the botanicals and acupuncture market?
- What future projections would help in taking further strategic steps?
- What is botanicals and acupuncture?
- What is the botanicals and acupuncture market prediction for the future?
- Who are the leading global players in the botanicals and acupuncture market?
- What are the current trends and predicted trends?
- What are the key benefits of the botanicals and acupuncture market report?
Key Market Segments
- By Intervention
- Acupuncture
- Ayurveda
- Naturopathy
- Homeopathy
- By Application
- Prescription
- Over the Counter (OTC)t
- By Distribution Channel
- E-sales
- Distance Correspondence
- Direct Sales
- By Region
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Herbal Hills
- LKK Health Products Group
- Sheng Chang Pharmaceutical Company
- Herb Pharm
- ARC Acupuncture & Physical Therapy
- NatureKue, Inc.
- Pure Encapsulations, Inc.
- Green Cross Corp
- Helio USA Inc.
- Chiropuncture, Inc.
- Ayush Ayurvedic Pte Ltd.
- Modern Acupuncture
- Nordic Nutraceuticals
- Columbia Nutritional