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:
The primary goal of this research is to assist the user in understanding the Complementary and Alternative Medicine market in terms of definition, segmentation, market potential, significant trends, and the problems that the Complementary and Alternative Medicine industry faces in key regions and nations. The market statistics and information were obtained from credible sources such as websites, annual reports of businesses, journals, and others, and were examined and validated by industry professionals.
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Market Scope:
The market statistics and information were obtained from credible sources such as websites, annual reports of businesses, journals, and others, and were examined and validated by industry professionals.
Market Dynamic:
Laboratory automation is gaining popularity as a viable solution to the laboratory professional shortage and the elimination of manual involvement in lab activities. Basic laboratory procedures can be automated by using dedicated workstations and software to manage instruments, increasing lab productivity and allowing individual researchers to focus on critical tasks. Automation generates more data and allows for better documentation. The establishment of supervisory standards, together with stringent regulatory requirements for error-free outputs, fosters the development of efficiencies that produce repeatable results.
Segmentation:
The cancer segment is predicted to increase at an 8.1% CAGR during the projection period. For decades, the use of complementary and alternative therapy among cancer patients has steadily increased. One of the early studies to investigate the extent of CAM usage among cancer patients found that 16% of cancer patients surveyed in two hospitals in London admitted to using CAM. This number is comparable to previous studies, which showed that CAM consumption in the United States was 13%. A survey of 127 cancer patients in the United Kingdom, on the other hand, discovered that 29% of the surveyed group used complementary and alternative treatment.
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: The study discusses the key market players who are engaged in the industry, such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors, and so on. The key players in the Complementary and Alternative Medicine market are
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 report focuses on Global Regions and Market Size of Complementary and Alternative Medicine , and development forecast 2021-2027, including industries, major players, suppliers worldwide, and market share by regions, with company and product introduction, position in the market including their market status and development trend by types and applications, which will provide its price and profit status, and marketing status, with 2020 as the base year.
COVID-19 Impact Analysis on Complementary and Alternative Medicine Market:
The report discusses the impact of COVID-19: Since the breakout of the COVID-19 virus in December 2019, the disease has spread to practically every country on the planet, prompting the WHO to declare it a public health crisis. The worldwide effects of the coronavirus epidemic are already being noticed, and they will have a considerable influence on the Complementary and Alternative Medicine industry in 2021.
See also Immunocytokines Market: Revolutionizing Industries with Disruptive Growth Strategies
Key Questions answered in the Complementary and Alternative Medicine Market Report are:
- What is the function of Complementary and Alternative Medicine ?
- What is the predicted revenue generation of the Complementary and Alternative Medicine market?
- At what growth rate is the Complementary and Alternative Medicine market evolving?
- Who are the major market giants operating in the Complementary and Alternative Medicine market?
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