IMARC Group, a leading market research company, has recently releases report titled “Complementary and Alternative Medicine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” The study provides a detailed analysis of the industry, including the global complementary and alternative medicine market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Complementary and Alternative Medicine Market?
Report Attributes | Details |
Market Size in 2021 | US$ 100.04 Billion |
Market Forecast in 2027 | US$ 315.5 Billion |
Growth rate (2022 to 2027) | CAGR of 20.8% |
Base Year of the Analysis | 2021 |
Forecast Period | 2022-2027 |
What is Complementary and Alternative Medicine?
Complementary and alternative medicine (CAM) is a different set of healthcare approaches that are not studied as a part of conventional medicine. Complementary and alternative medicine therapies can include acupuncture, herbal medicine, massage therapy, chiropractic care, and meditation. While many of these therapies have been practiced for a long period, they are often not supported by scientific evidence, and their effectiveness and safety may be questioned. Nevertheless, CAM is gaining popularity as an alternative to traditional Western medicine, particularly in the areas of chronic pain management and stress reduction. Many patients are also drawn to complementary and alternative medicine due to its focus on treating the whole person, rather than just the symptoms of a particular illness or condition.
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What Are the Growth Prospects and Trends in the Complementary and Alternative Medicine Market?
The rising demand for natural and holistic healthcare options represents one of the key factors driving the market growth across the globe. This, coupled with the increasing demand for treatments that focus on overall health and wellness, rather than just treating specific symptoms or conditions is acting as a major growth-inducing factor. In addition to this, the increasing interest in non-invasive therapies that do not require prescription medications or invasive procedures is contributing to the growth of the market. Other factors, such as the integration of CAM therapies into mainstream healthcare, the rising healthcare costs, and the increasing burden of chronic diseases are creating a positive outlook for the market.
Who Are the Key Players Operating in the Complementary and Alternative Medicine Market?
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Ayush Ayurvedic Pte Ltd.
- Columbia Nutritional LLC
- Helio USA Inc.
- Herb Pharm LLC
- Herbal Hills
- Nature’s Bounty
- Nordic Naturals
- Pure Encapsulations LLC (Nestlé S.A.)
- Quantum-Touch
- The Healing Company Ltd.
- Unity Woods Yoga Center
What is Included in Market Segmentation?
The report has categorized the market based on type, disease indications and distribution channel.
Breakup by Type:
- Traditional Alternative Medicine Therapy
- Body Therapy
- Diet and Herbs Based Therapy
- Energy Healing Therapy
- Mind Therapy
- Others
Breakup by Disease Indications:
- Arthritis
- Cancer
- Asthma
- Diabetes
- Cardiology
- Neurology
- Others
Breakup by Distribution Channel:
- Special Clinics/Centres
- Distance Correspondence
- Direct Sales
- Online Sales
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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