According to the latest report of the IMARC group, entitled “Complementary and Alternative Medicine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global market reached a value of US$100.04 billion in 2021. Complementary and alternative medicine (CAM) represents a range of therapeutic products and diagnostic procedures that are not considered part of medical therapies traditional. It encompasses homeopathic remedies, self-administered tools, biofield therapy, naturopathy, acupuncture and dietary supplements. CAM eases muscle tension, improves wound healing, provides relaxation, and reduces stress, pain, and anxiety. As a result, it is generally used alongside conventional medications to treat various chronic conditions and common side effects.
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The global CAM market is primarily driven by the growing prevalence of neurological disorders, especially among the geriatric population. This is further supported by the shift in preference towards natural medicines due to their many beneficial properties. Additionally, rising health concerns and the coronavirus disease (COVID-19) pandemic have prompted governments to invest in pharmaceutical companies to develop alternative natural medicines for the treatment of patients, which is propelling the growth of the market. Other factors, such as significant improvements in healthcare infrastructure, extensive promotion of medical tourism, and ongoing research and development (R&D) activities to introduce CAM with increased efficiency, are contributing to the growth. of the market. Looking ahead, IMARC Group expects the global complementary and alternative medicine market to reach US$315.5 billion by 2027, growing at a CAGR of 20.8% during the period 2022 -2027.
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Like the novel coronavirus (COVID-19[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
- Online sales
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.
Main 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
- 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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