Acupuncturists in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: August 2024
NAICS OD4162Revenue
$707.4m
Past 5-Year Growth
Profit
$XXX.Xm
Employees
17,117
Businesses
12,350
Wages
$XXX.Xm
Acupuncturists in the US industry analysis
Acupuncture has become a widely practiced form of complementary and alternative medicine, addressing various medical conditions. Although both public and private insurers provide coverage for acupuncture under various circumstances, the lack of comprehensive clinical evidence limits the extent of this coverage. Despite disruptions caused by the pandemic, acupuncture services were considered essential, resulting in continued industry growth and increasing profit. Key growth drivers include a growing older adult population experiencing more chronic pain, expanding Medicare coverage and gains in per capita disposable income that would cover out-of-pocket costs. The need for definitive research on acupuncture's efficacy persists, yet the industry's revenue has grown at a CAGR of 6.5%. By 2024, industry revenue is expected to reach $707.5 million, reflecting a 1.9% gain in that year alone.
Trends and Insights
- Acupuncture services are seeing growth due to increased insurance coverage. As the population of adults over 65 expands, Medicare's coverage for chronic lower back pain treatments is expected to drive demand and boost industry performance.
- Precision-guided needles and electroacupuncture are supercharging treatments. Patients feel more at ease as these innovations elevate trust and expand what’s possible in acupuncture care.
- Acupuncture's prevalence in certain regions is influenced by demographics. States with larger Chinese-American populations tend to have more acupuncture practices, reflecting the cultural roots of the practice.
- Pricing for acupuncturists is influenced by a range of medical alternatives. Competition from family doctors, specialists and DIY remedies exerts downward pressure on their rates.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 6.5 % over the past five years, to reach an estimated $707.4m in 2024.
Trends and Insights
Acupuncture's growth highlights the integration of a traditional technique with new technology
- Acupuncture is a traditional Chinese medicine practice that uses fine needles to activate acupoints, or key points along energy meridians, to relieve pain. Recently, alternative medicines, including acupuncture, have been more widely implemented as a form of secondary treatment to traditional care.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Acupuncturists' transition to mainstream faces significant challenges
- Acupuncturist services are expected to expand as complementary and alternative medicine (CAM) treatments driven by an increasingly older population seeking treatments for age-related conditions such as musculoskeletal disorders.
Biggest companies in the Acupuncturists in the US
| Company | Market Share (%)
2024 | Revenue ($short_0)
2024 | Profit ($short_0)
2024 | Profit Margin (%)
2024 |
|---|
There are no companies that hold a large enough market share in the Acupuncturists in the US industry for IBISWorld to include in this product.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Chinese acupuncture, Balance method and Japanese acupuncture. Chinese acupuncture is the largest segment of the Acupuncturists in the US.
Trends and Insights
Chinese acupuncture remains the most popular offering
- Chinese acupuncture is the most widely practiced method and represents the most significant type of service acupuncturists offer. Its deep-rooted history and broad recognition within traditional Chinese medicine contribute to its popularity.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Primary Care Doctors in the US
- Specialist Doctors in the US
- Physical Therapists in the US
- Alternative Healthcare Providers in the US
Complementors
- Primary Care Doctors in the US
- Physical Therapists in the US
- Physical Therapy Rehabilitation Centers in the US
- Pain Management Physicians in the US
International industries
- Alternative Health Therapies in Australia
- Other Health Services in New Zealand
- Allied Health-Care Services in the UK
- Other Healthcare Activities in Germany
- Health Clinics in China
Table of Contents
About this industry
Industry definition
This industry includes health practitioners who treat patients by inserting and manipulating needles at specific points on the body to alleviate various ailments such as chronic pain, stress and digestive issues.
What's included in this industry?
Chinese acupunctureBalance method Japanese acupunctureTrigger point acupunctureOtherCompanies
Purchase this report to view all major companies in this industry.
Related Terms
CONVENTIONAL MEDICINETRADITIONAL CHINESE MEDICINE (TCM)COMPLEMENTARY AND ALTERNATIVE MEDICINE (CAM)Industry Code
NAICS 62139 - Acupuncturists in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Acupuncture services are seeing growth due to increased insurance coverage. As the population of adults over 65 expands, Medicare's coverage for chronic lower back pain treat...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Precision-guided needles and electroacupuncture are supercharging treatments. Patients feel more at ease as these innovations elevate trust and expand what’s possible in acup...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Acupuncture's prevalence in certain regions is influenced by demographics. States with larger Chinese-American populations tend to have more acupuncture practices, reflecting...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Pricing for acupuncturists is influenced by a range of medical alternatives. Competition from family doctors, specialists and DIY remedies exerts downward pressure on their r...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Labor-intensive and locally provided services restrict the growth of significant players. Limited insurance coverage, varying acceptance by mainstream medicine and diverse re...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
Detailed analysis
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Industry assistance punctured cultural attitudes. Numerous private associations and research organizations have successfully educated the public and professionals, spurring i...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Acupuncturists experienced a significant profit increase post-pandemic. Stronger demand, boosted by insurance coverage and the ability to fund services with out-of-pocket pay...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Acupuncturists in the US industry in United States in 2024?
The market size of the Acupuncturists in the US industry in United States is $707.4m in 2024.
How many businesses are there in the Acupuncturists in the US industry in 2024?
There are 12,350 businesses in the Acupuncturists in the US industry in United States, which has grown at a CAGR of 1.3 % between 2019 and 2024.
Has the Acupuncturists in the US industry in United States grown or declined over the past 5 years?
The market size of the Acupuncturists in the US industry in United States has been growing at a CAGR of 6.5 % between 2019 and 2024.
What is the forecast growth of the Acupuncturists in the US industry in United States over the next 5 years?
Over the next five years, the Acupuncturists in the US industry in United States is expected to grow.
What does the Acupuncturists in the US in United States include?
Chinese acupuncture and Balance method are part of the Acupuncturists in the US industry.
How competitive is the Acupuncturists in the US industry in United States?
The level of competition is high and steady in the Acupuncturists in the US industry in United States.
