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.
Market Overview:
This study’s purpose is to give an overview of the Complementary and Alternative Medicine market as well as extensive market segmentation based on segments, and geography. The report includes vital information on the market positions of the major Complementary and Alternative Medicine companies, as well as notable industry trends and prospects.
The report also focuses on the leading industry players in the Complementary and Alternative Medicine market, giving information such as company biographies, product images and specifications, capacity, production, price, cost, revenue, and contact information. This research looks into Complementary and Alternative Medicine Market Trends, Volume, and Value at the Global, Regional, and Company Levels. This study examines the whole Complementary and Alternative Medicine Market Size from a worldwide standpoint, evaluating historical data and forecasts.
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, homoeopathy, acupuncture, naturopathy, chiropractic manipulation, and other therapies.
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Market Scope:
The report also focuses on the leading industry players in the Complementary and Alternative Medicine market, giving information such as company biographies, product images and specifications, capacity, production, price, cost, revenue, and contact information.
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.
Global Complementary and Alternative Medicine Market, by Therapy Type (2022-2029)
• Traditional Alternative Medicine
• Mind Healing
• Body Healing
• External Energy
• Sensory Healing
• Other
Global Complementary and Alternative Medicine Market, by Disease (2022-2029)
• Arthritis
• Cancer
• Asthma
• Diabetes
• Cardiology
• Neurology
• Others
Global Complementary and Alternative Medicine Market, by Distribution Channel (2022-2029)
• Direct Sales
• E-sales
• Distance Correspondence
• Other
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Key Players:
Inorganic growth techniques noted in the sector included acquisitions, partnerships, and collaborations. With growing demand, industry participants in the Complementary and Alternative Medicine market are projected to benefit from excellent future growth opportunities. The following are a few companies participating in the worldwide Complementary and Alternative Medicine industry.
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)
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Regional Analysis:
The research also includes a comprehensive PESTLE analysis for each of the five areas, namely North America, Europe, Asia Pacific, the Middle East, and Africa, and South America, after examining the political, economic, social, and technological variables influencing the Complementary and Alternative Medicine market in these regions.
COVID-19 Impact Analysis on Complementary and Alternative Medicine Market
As a result of the COVID-19 outbreak, customer behavior has transformed throughout all sectors of society. Industries, on the other hand, will need to adjust their strategies to account for altering market supplies. This study gives an outline of the COVID-19’s impact on the Complementary and Alternative Medicine market and will help you build your business in compliance with the new industry standards.
Key Questions Answered in the Complementary and Alternative Medicine Market Report are:
What will be the CAGR of the Complementary and Alternative Medicine market during the forecast period?
Which segment emerged as the leading segment in the Complementary and Alternative Medicine market?
Which are the prominent players in the Complementary and Alternative Medicine market?
What will be the Complementary and Alternative Medicine market size by 2027?
Which company held the largest share in the Complementary and Alternative Medicine market?
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