October 2024
The global traditional Chinese medicine orientation therapy instrument market was estimated at US$ 65 billion in 2023 and is projected to grow to US$ 139.65 billion by 2034, rising at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2034. The demand for the instruments is growing because of the growing awareness about the benefits of using these tools/instruments in healthcare.
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Traditional Chinese medicine (TCM) orientation therapy instruments are devices developed based on TCM principles to treat various health conditions. By using the electric field created by the initial asymmetric medium-frequency current to create a directional driving force on drug ions, the Traditional Chinese Medicine Orientation Therapy Instrument enables the drug's active ingredients to more deeply and efficiently enter the human body through the skin and mucous membranes, focusing on the lesions in the afflicted area. Some of the TCM practices are acupuncture, pulse diagnosis, face diagnosis, tai chi, etc. TCM has been a part of Chinese healthcare for ages, and now it is being practiced in other regions as well. Various research has been conducted to analyze the effects of using instruments based on TCM. Based on evidence, countries like the U.S., India, and Canada have started incorporating TCM practices in their healthcare.
Both modern medicines and technological advances hold great potential for the growth of the traditional Chinese medicine orientation therapy instrument market. It is projected that TCM will integrate with modern medicine by 2035 using a more open and modern research and development paradigm, offering significant assistance in the treatment of a wider range of illnesses. Furthermore, Chinese medicine's growth in the global community was made possible by the use of nanotechnology in traditional Chinese medicine (TCM).
The traditional Chinese medicine orientation therapy instrument market faces challenges due to growing competition. Every year, new and advanced medical devices are launched, and consumers opt for those devices to provide quality care. Due to this, the TCM orientation therapy instruments had to compete against these new devices for sales.
Asia Pacific dominated the traditional Chinese medicine orientation therapy instrument market in 2023. The market is growing in Asia Pacific significantly because China is the major contributor to the growth and because the instruments originated in China. Along with China, the neighboring countries such as India, Japan, and South Korea are also opting for the instruments due to their benefits.
According to a national TCM meeting that started Monday, 1.28 billion people in China were diagnosed and treated by traditional Chinese medicine (TCM) healthcare facilities in 2023. According to Yu Yanhong, head of the National Administration of TCM, China has made steady progress toward its goal of creating 138 significant TCM hospitals. By the end of last year, 14 TCM hospitals were part of the nation's national-level healthcare center construction project. According to data provided at the conference, TCM clinics are now found in 62.8 percent of maternity and children's hospitals and 89 percent of publicly sponsored general hospitals at or above the grade-two level.
Countries like India are also collaborating with organizations like the WHO to boost the traditional Chinese medicine orientation therapy instrument market.
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North America is expected to grow at the fastest rate during the forecast period. The traditional Chinese medicine orientation therapy instrument market is growing in North America due to growing awareness among healthcare professionals, netizens, and growing investments. The U.S. and Canada are significantly contributing to the market’s growth. According to studies, many Canadians have tried conventional therapies, including massage, yoga, and acupuncture.
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By type, the desktop segment held the major share of the traditional Chinese medicine orientation therapy instrument market in 2023. Desktop instruments are popular due to several advantages associated with them. The instruments are portable, do not take up large space, are cost-effective, and easy to use. This makes them useful in telemedicine and for home use.
By application, the hospitals segment held the dominant share of the market. Hospitals have proper tools and highly skilled professionals. Staff members get timely training to ensure that the professionals are well aware of new information and techniques, which hospitals make an ideal choice for people who want to use TCM orientation therapy instruments.
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October 2024
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Deepa has certified the degree of Master’s in Pharmacy in the Pharmaceutical Quality Assurance department from Dr D.Y. Patil College of Pharmacy. Her research is focused on the healthcare industry. She is the author or co-author of four Review Articles, which include Solid dispersion a strategic method for poorly soluble drugs and solubility improvement techniques for poorly soluble drugs, Herbal Drugs Used In Treatment Of Cataracts, Nano sponges And Their Application in Cancer Prevention and Ayurvedic Remedies of Peptic ulcer. She has also published a Research Article on the Formulation and Evaluation of Mucoadhesive Tablets of Miconazole cocrystal which was published in GIS Science Journal Volume 9 Issue 8. Her passion for secondary research and desire to take on the challenge of solving unresolved issues is making her flourish is the in the research sector.