According to the latest report of the IMARC group, entitled “Complementary and Alternative Medicine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global market showed strong growth during the period 2015-2020. Complementary and alternative medicine (CAM) includes many medical products and practices that are not usually part of conventional or standard medical treatment. It primarily includes self-administered products and activities, such as herbal remedies, dietary supplements, homeopathic remedies, and yoga, along with chiropractic care, acupuncture, and massage therapy. CAM also includes manipulative and body-based practices, complete medical systems, and biofield therapy. Currently, CAM is widely used to treat cancer by reducing common side effects of chemotherapy, such as pain, fatigue, and nausea.
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Growing consumer preferences towards natural products and alternative therapies are mainly increasing the global complementary and alternative medicine market. Moreover, the increasing incidence of many chronic diseases is also driving the demand for CAM for disease diagnosis and prevention. Additionally, many health insurance companies are offering CAM coverage in their medical plans, further propelling the growth of the market. Due to the sudden onset of the COVID-19 pandemic, there is an increasing trend towards natural or alternative medicines to treat coronavirus infection. Looking ahead, IMARC Group expects the global complementary and alternative medicine market to grow at a CAGR of around 15% during the forecast period (2021-2026).
Like the novel coronavirus (COVID-19[female[feminine) the crisis is taking over the world, we are constantly monitoring the changes in the markets, as well as the behaviors of the consumers of the sector in the world and our estimates on the latest market trends and forecasts are made after taking into account the impact of this pandemic.
Competitive landscape with key players:
- Ayush Ayurvedic Pte Ltd.
- Columbia Nutritional LLC
- Helio USA Inc.
- Herb Pharm LLC
- herbal hills
- The bounty of nature
- Nordic naturals
- Pure Encapsulations LLC (Nestlé SA)
- Quantum Touch
- The Healing Company Ltd.
- Unity Woods Yoga Center
Complementary and Alternative Medicine Market Segmentation:
Breakdown by type:
- Traditional alternative medicine therapy
- body therapy
- Diet and herbal therapy
- energy healing therapy
- mental therapy
Breakdown by disease indication:
Breakdown by distribution channel:
- Clinics/Special Centers
- Remote correspondence
- direct sales
- Sold online
Breakdown by region:
- North America (USA, Canada)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, UK, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, others)
- Middle East and Africa.
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Main highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market trends
- Market drivers and success factors
- Impact of COVID-19
- Value chain analysis
- Complete mapping of the competitive landscape
If you need specific information that is not currently covered in the report, we will provide it to you as part of the customization.
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