Electroacupuncture Unit: Introduction
- Electroacupuncture is similar to acupuncture, a widely used traditional Chinese medicine system for treatment of various diseases. In standard acupuncture, one needle is used at each treatment point. Electroacupuncture is a modified form that uses two needles.
- Electroacupuncture is a form of acupuncture, wherein a small electric current is passed between pairs of acupuncture needles. According to some acupuncturists, this practice augments the use of regular acupuncture, can restore health and well-being, and is particularly good for treating pain.
- According to a study, electroacupuncture is useful in the treatment of various diseases such as arthritis, acute pain, and chemotherapy-related nausea
Key Drivers of Global Electroacupuncture Unit Market
- Increase in number of patients with arthritis, acute pain, and gynecological disorders is projected to drive the global electroacupuncture unit market during the forecast period. Arthritis is the leading cause of disability, and causes pain, aching, stiffness, and swelling of the joints. The most common types are osteoarthritis, rheumatoid arthritis, gout, lupus, and fibromyalgia. According to the Centers for Disease Control and Prevention, around 55 million adults in the U.S. were suffering from arthritis in 2018. Acute pain affects over 120 million people in seven major markets: the U.S., Germany, the U.K., France, Italy, Spain, and Japan.
- Increase in geriatric population, which is more prone to pain-related disorders, is anticipated to propel the global electroacupuncture unit market. According to the World Health Organization, the global geriatric population is expected to reach around 2 billion (22% of global population) by 2050, as against 900 million in 2015. Countries such as India, China, Thailand, and South Korea are also expected to have large geriatric population in the shortest span of time in the near future. New product launch, strong product pipeline, and high demand for electroacupuncture units across the globe are likely to augment the global market during the forecast period.
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Mobile to be Most Promising Segment
- In terms of product type, the global electroacupuncture unit market can be bifurcated into mobile and fixed
- The mobile segment accounted for the largest share of the global electroacupuncture unit market in 2019. The segment is projected to dominate the global market during the forecast period due to increase in popularity of and demand for mobile electroacupuncture units.
Pain Syndrome Illness Segment to Witness Significant Growth
- Based on treatment type, the global electroacupuncture unit market can be divided into psychological illness, pain syndrome illness, gynecological disorders, and others
- The pain syndrome illness segment dominated the global market in terms of revenue in 2019 and the trend is anticipated to continue during the forecast period. This can be attributed to launch of products for treatment of pain syndrome illness by major manufacturers and increase in patients with pain-related syndrome.
North America to Dominate Global Electroacupuncture Unit Market
- In terms of region, the global electroacupuncture unit market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global electroacupuncture unit market in 2019 and the trend is expected to continue during the forecast period. The region’s market dominance can be attributed to increase in research & development activities by major players, rise in pain-related disorders, surge in product offerings, greater affordability, and rise in demand for early treatment.
- The market in Asia Pacific is likely to grow at a rapid pace during the forecast period, owing to increase in geriatric population, which is more prone to pain-related disorders, adoption of new products, and rise in demand for electroacupuncture units in emerging countries such as India and China.
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Key Players Operating in Global Electroacupuncture Unit Market
The global electroacupuncture unit market was highly fragmented in 2019. Key players operating in the global market are:
- Ito Co. Ltd.
- Finesun Worldwide Group
- cymedics GmbH & Co. KG
- schwa-medico GmbH
- Zepter International
- Jiajian Medical
- MKW Laser System
- Other Prominent Players
Global Electroacupuncture Unit Market: Research Scope
Global Electroacupuncture Unit Market, by Product Type
Global Electroacupuncture Unit Market, by Application
- Psychological Illness
- Pain Syndrome Illness
- Gynecological Disorders
Global Electroacupuncture Unit Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.