Alternative medicine

Global Complementary and Alternative Medicine Industry to 2027 – Featuring Herbal Hills, Nature’s Bounty, and Nordic Naturals, Among Others – | Business and finance


The global complementary and alternative medicine market reached a value of US$100.04 billion in 2021. Going forward, the market is expected to reach US$315.5 billion by 2027, growing at a CAGR of 20 .8% over the period 2022-2027.

  • 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

Keeping in mind the uncertainties of COVID-19, the analyst continuously monitors and assesses the direct and indirect influence of the pandemic. This information is included in the report as a major market contributor.

Complementary and alternative medicine (CAM) refers to medical products and practices that are not considered part of conventional or standard medical treatment. It includes a combination of self-administered products and activities, such as herbal remedies, homeopathic remedies, dietary supplements and yoga, with chiropractic care, massage therapy and acupuncture. It also includes manipulative and body-based practices, biofield therapy, and entire medical systems. Currently, CAM is widely used to treat people with cancer and alleviate common side effects like nausea, pain, and fatigue.

Growing consumer preferences for natural products and alternative therapies represent one of the major factors driving the demand for MCA globally. Moreover, as it brings comfort and reduces stress to patients, CAM is increasingly being adopted in the diagnosis and prevention of various medical conditions. The growing prevalence of chronic diseases, along with the growing geriatric population, is positively influencing the market.

Additionally, due to its growing popularity, several health insurance companies are offering CAM coverage in their medical plans, which is helping the market grow. Apart from this, government agencies in many countries are focusing on promoting medical tourism, which is fueling the demand for CAM globally. Additionally, there is a significant increase in the need for natural or alternative medicines to treat patients with coronavirus disease (COVID-19). This, in turn, is expected to promote the use of CAM and provide lucrative opportunities for market players to expand their reach among consumers.

Key questions answered by this report

  • How has the global complementary and alternative medicine market behaved so far and how will it behave in the coming years?
  • What has been the impact of COVID-19 on the Global Complementary and Alternative Medicine Market?
  • What are the main regional markets?
  • What is the market breakdown by type?
  • What is the breakdown of the market according to the indications of the disease?
  • What is the market breakdown by distribution channel?
  • What are the different stages of the industry value chain?
  • What are the key drivers and challenges in the industry?
  • What is the structure of the global complementary and alternative medicine market and who are the key players?
  • How competitive is the industry?

5 Global Complementary and Alternative Medicine Market

7 Market Breakdown by Disease Indication

8 Market Breakdown by Distribution Channel

9 Market Breakdown by Region

12 Analysis of the five forces of carriers

14.3 Profiles of Key Players

Laura Wood, Senior Press Officer

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SOURCE: Research and Markets

Copyright BusinessWire 2022.

PUBLISHED: 06/10/2022 06:55 AM/DISC: 06/10/2022 06:56 AM

Copyright BusinessWire 2022.