By Majella Mark
- The acupuncture market will grow by 32% by 2022
- A Masters in Acupuncture or Oriental Medicine will cost roughly $30K-40K
Before the Nixon administration stepped foot in China, members of The Black Panther Party did in 1970 and 1971, bringing the practice of acupuncture back to the United States. The Black Panther Party practiced acupuncture throughout their clinics, exposing the black community to alternative health solutions. Acupuncture is a holistic treatment that has been experienced by over 14 million people in the U.S., used to relieve chronic pain, suppress drug addiction and jump start fertility.
Why This Matters: Acupuncture is a practice that more people are looking to as a tool to prevent illnesses, maintain good health and relieve strains. The global alternative medicine market is expected to generate a revenue of over $200 billion by 2026. Specifically, the acupuncture market alone is expected to reach $25 billion by the end of 2023. Becoming an acupuncturist takes a masters degree and a NCCAOM (National Certification Commission for Acupuncture and Oriental Medicine) certification. After that you can open a small acupuncture office for under $2,000.
The global alternative medicine market is expected to generate a revenue of over $200 billion by 2026
As education and demand for alternative healthcare increase in the western world, business opportunities are presented. The average acupuncture price per session in New York is $300, Los Angeles is $120 and St. Louis is $60. Specifically the drastic demand for fertility acupuncture, has developed into a lucrative industry of its own. According to the Center of Disease Control and Prevention (CDC), 6.1 million women in the United States have some form of pregnancy difficulty. The standard cost of fertility acupuncture is $100 to $300 for a consultation, while a complete trial of IVF acupuncture can cost someone $1,000 to $3,000.
Situational Awareness: According to the Business Research Company, the global pharmaceuticals market was valued at $935 billion in 2017 with the potential of reaching over a trillion by 2021. Over a four year period that is only a 25% increase. Although the pharmaceutical industry is steady, more R&D investment is being put into alternative healthcare methods such as Ayurvedics, Meditation and Acupuncture. Many insurance companies are providing acupuncture in their package offerings and medical acupuncture. This method of healing is one way to build a career helping others.
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