Complementary and Alternative Medicine Market size was valued at US$ 114.62 Bn. in 2022 and the total Complementary and Alternative Medicine revenue is expected to grow by 17.9% from 2023 to 2029, reaching nearly US$ 362.97 Bn.
Complementary and Alternative Medicine Market Overview
As per Maximize Market Research, a global business research and consultancy firm, the total global market for Complementary and Alternative Medicine Market was USD in 2022 and is expected to grow at a CAGR of percent over the forecast period to reach USD by 2029.
Complementary and Alternative Medicine Market Dynamics
The lack of curative treatment for a number of acute and chronic illnesses, the high expense of modern medications, the time demands placed on patients and healthcare professionals, microbial resistance, and the negative effects of modern medicine have sparked public interest. AM is becoming more and more popular due to self-medication, conventional medical procedures, indigenous medical systems including Ayurveda, herbal remedies, Yunani, homeopathy, acupuncture, naturopathy, chiropractic manipulation, and other therapies.
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Complementary and Alternative Medicine Market Scope and Methodology
The report comprehensively assesses the Complementary and Alternative Medicine market’s size estimation, encompassing existing and upcoming trends. It delivers an extensive examination of pivotal advancements, marketing tactics, supply and demand indicators, and profiles of market proprietors, leaders, potential contenders, and new entrants. Employing a bottom-up approach, the report estimates the Complementary and Alternative Medicine Market. Primary data sources involve interviews with notable industry experts, business owners, and marketing specialists, while secondary sources encompass financial reviews and annual reports of top manufacturers. For comprehensive insights into market penetration, competitive landscape, demand analysis, and regional evaluation, the study spans local, regional, and global levels.
Complementary and Alternative Medicine Market Regional Insights
The Complementary and Alternative Medicine market exhibits extensive categorization across North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The Regional Analysis furnishes the current status of the Complementary and Alternative Medicine market within the countries covered. This report offers a comprehensive assessment of factors, market dimensions, growth rates, and regional import-export dynamics.
Complementary and Alternative Medicine Market Segmentation
The cancer market is anticipated to expand at a CAGR of 8.1% over the course of the projected period. The use of complementary and alternative therapies among cancer patients has steadily increased throughout the years. One of the first studies to assess the extent of CAM use among cancer patients found that 16% of those surveyed at two hospitals in London admitted using CAM. This proportion is close to earlier studies, which reported that 13% of Americans used CAMs. A survey of 127 cancer patients in the UK, however, revealed that 29% of the participants used complementary and alternative therapies.
1 Global Complementary and Alternative Medicine Market, by Therapy Type (2022-2029)
• Traditional Alternative Medicine
• Mind Healing
• Body Healing
• External Energy
• Sensory Healing
• Other
2 Global Complementary and Alternative Medicine Market, by Disease (2022-2029)
• Arthritis
• Cancer
• Asthma
• Diabetes
• Cardiology
• Neurology
• Others
3 Global Complementary and Alternative Medicine Market, by Distribution Channel (2022-2029)
• Direct Sales
• E-sales
• Distance Correspondence
• Other
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Complementary and Alternative Medicine Market Key Players
1. Pure Encapsulations, Inc..(US)
2. Nordic Naturals(US)
3. Unity Woods Yoga Center(US)
4. Quantum Touch(US)
5. Geriatric & Medical Companies, Inc.,(US)
6. Herb Pharm(US)
7. Helio USA Inc.(US)
8. Columbia Nutritional(US)
9. John Schumachers Unity Woods Yoga Center(US)
10. Merck Sharp & Dohme Corporation(US)
11. Geri-Care pharmaceuticals(US)
12. UAS Laboratories.(US)
13. The Healing Company (New Zealand)
14. Nature’s Bounty(UK)
15. First Natural Brands Ltd.(UK)
16. Ayush Ayurveda (India)
17. Herbal Hills(India)
18. Sheng Chang Pharmaceutical Company (Taiwan)
Key questions answered in the Complementary and Alternative Medicine Market are:
- What is Complementary and Alternative Medicine?
- What was the Complementary and Alternative Medicine market size in 2022?
- What are the different segments of the Complementary and Alternative Medicine Market?
- What growth strategies are the players considering to increase their presence in Complementary and Alternative Medicine?
- What are the upcoming industry applications and trends for the Complementary and Alternative Medicine Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Complementary and Alternative Medicine Market?
- Who are the key players in the Complementary and Alternative Medicine market?
- What segments are covered in the Complementary and Alternative Medicine Market?
- Who are the leading companies and what are their portfolios in Complementary and Alternative Medicine Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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