Complementary And Alternative Medicine Market

Complementary And Alternative Medicine Market Size

             2020                         2024-2032      

Report	Details
Market Size Value	USD 117.6 billion in 2024
Market Size Value	USD 143.3 billion by 2030
CAGR	CAGR of 2.5%
Forecast Period	2024-2032
Base Year	2023
Historic Data	2020
Segments Covered	Type, Disease Indication, Distribution Channel and Region
Geographics Covered	North America, Europe, Asia Pacific, and RoW

Major vendors in the global Complementary And Alternative Medicine Market: ALCES LLP, Amrita Ayurveda and Yoga, AYUSH Ayurvedic Pte Ltd, Body and Soul Yoga Club, Columbia Nutritional, Helio USA Inc ,Herb Pharm ,Herbal Hills, LKK Health Products Group Limited, NatureKue, Nordic Nutraceuticals, Pure encapsulations, Sheng Chang Pharmaceutical Company, The Healing Company Ltd, Yoga Tree Studios, Inc and Others.

Market Overview

The Western perspective on health care has been focused on medications for treatment of health care conditions. It was common for pain to be treated with various levels of opioids and receiving prescriptions for medications with each physician visit. Westerners found many alternative methods to treat medical conditions, such as pain, anxiety, depression, and insomnia, with scented oils from various plant sources. The pendulum began to swing from Western medication to an Eastern holistic approach. Aromatherapy emerged and was embraced as an alternative medicine for many medical conditions. The federal government and states stepped in, passing laws monitoring prescriptions written for opioids; therefore, a search for alternative medicine began. Alternative methods were found in the Eastern perspective on health care. Affluence of working population with changing lifestyles and reducing affordability of sick care, in terms of time and money involved, are some of the forces that are presently driving people towards thinking about their wellness. There has been increased global interest in traditional medicine. Efforts to monitor and regulate traditional herbal medicine are underway. Ayurveda, the traditional Indian medicine, remains the most ancient yet living traditions. Although India has been successful in promoting its therapies with more research and science-based approach, it still needs more extensive research and evidence base. Increased side effects, lack of curative treatment for several chronic diseases, high cost of new drugs, microbial resistance and emerging, diseases are some reasons for renewed public interest in complementary and alternative medicines.

 Control over inflammation

One of the primary drivers for the global Complementary And Alternative Medicine Market is the significant shift in consumer lifestyles. The body naturally responses to various stresses including infection, irradiation, chemical, or physical injury .Short term inflammation protects the body, while long term inflammatory response in the body damages healthy cells, tissues, and organs leading to the development of some diseases, such as arthritis, alzheimer’s disease, and even cancer The common treatment option for inflammatory diseases have been limited to nonsteroidal anti-inflammatory (NSAIDs) medica-tions such as COX-2 inhibitors or steroid hormones (e.g., corticosteroids). Although most of the NSAIDs are considered to be safe however, it may aggravate other diseases such as stomach ulcer, hemorrhage, liver or kidney impairments for long term use. AM has been used for hundreds and even thousands of years in the management of chronic inflammation through antioxidative alternative medicine-based therapies, mainly diet- and natural products based therapies. Strong scientific evidence supports the use of some products such as omega-3 essential fatty acids

Market Dynamics

Drivers:

• Increasing consumer interest in holistic healthcare
• Rising awareness of natural and traditional healing methods
• Growing focus on preventing healthcare
• Convenience and Time-saving

Opportunities:

• Easily accessible and provides favorable effects
• Health and Wellness Trends
• Minimizing publication bias
• Increase in popularity in biological treatment

Advancements in Blood pressure Technologies

Chronic hyperglycemia is a condition in which an excessive amount of glucose circulates in the blood plasma. This highly inflammatory condition contributes to a number of complications over time, including obesity; kidney damage; neurological damage; cardiovascular damage; and damage to the retinas, feet, and legs. Diabetes is one of the many causes of hyperglycemia, and diabetic neuropathy may be a consequence of long-term hyperglycemia. Hyperglycemia is associated with poor wound healing and susceptibility to infections, as well as insulin resistance. As the body becomes overrun and is less able to transport the excess glucose, it stops responding to the increased presence of insulin (the transporter) (American Diabetes Association 2014). Natural products and diet-based therapies are highly useful in pre-venting hyperglycemic states in both diabetic and nondiabetic patients. The patient may use natural products in conjunction with meals or as meal replacements, to help decrease the reliance on metformin or exogenous insulin. Preclinical and even clinical studies have suggested modest beneficial glycemic effects for many plant extracts, though strong, conclusive clinical effects have been attributed to only a few.

North America dominates the market for Complementary and alternative medicine.

North America stands out as the dominating region in the global Complementary and Alternative Medicine Market, with the United States leading in consumption and market share. The region's dominance can be attributed to the high prevalence of busy lifestyles, a strong culture of convenience, and a well-established food and beverage industry. The U.S. market particularly benefits from a diverse consumer base with a penchant for quick and convenient options. Rising prevalence of various chronic diseases, rising awareness towards CAMs, and increasing initiatives to launch and develop various alternative medicine and therapies.

Asia-Pacific, and specifically India, is emerging as a key player with substantial growth potential in the Complementary And Alternative Medicine Market. India's market is driven by a rising urban population, increasing disposable incomes, and a shift towards Westernized eating habits. The convenience factor aligns well with the fast-paced urban life in countries like India, making complementary and alternative medicine s increasingly popular. Additionally, government initiatives promoting the food processing sector and improvements in distribution channels contribute to the market's growth.

Another noteworthy region is the Middle East and Africa, where the demand for convenient food solutions is on the rise due to changing lifestyles and an expanding working-class population. South Africa, in particular, showcases promise as a market with high growth potential, driven by urbanization and a growing awareness of convenient food options.

Alternative medicine for management of anxiety or sleep disorder

In the global Complementary And Alternative Medicine Market, the Anxiety disorders are the most common psychiatric disorder, with an estimated lifetime prevalence is 29% in the general population. The high prevalence and complex comorbidity of anxiety or sleeping problems such as insomnia makes a concern particularly in elder people because it affects physical and mental health, and worse the quality of life by relating with significant clinical implications in obesity, diabetes, and hypertension, cardiovascular and neurological diseases. It is well documented that treatment of anxiety or insomnia may provide positive effects, not only by alleviating comorbidity but also by preventing new incidents.

Segmentations Analysis of Complementary And Alternative Medicine Market: -

• By Type
  • Medicines type
    • Ayurvedic medicines
    • Dieatry supplements
    • Homeopathic medicine
    • Others
  • Therapy type
    • Mind therapy
    • Body therapy
    • Sensory therapy
    • Magnetic therapy
• By Disease Indication
  • Cancer
  • Arthritis
  • Diabetes
  • Cardiovascular
  • Neurology
  • Others
• By Distribution Channel
  • Hypermarkets and Supermarkets
  • Conventional Store
  • Online
  • Subscription Model
  • Others
• By Region
  • North America
    • US
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Chile
    • Peru
    • Rest of Latin America
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
    • BENELUX
    • CIS & Russia
    • Nordics
    • Austria
    • Poland
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Thailand
    • Indonesia
    • Malaysia
    • Vietnam
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Nigeria
    • Egypt
    • Israel
    • Turkey
    • Rest of Middle East & Africa

Recent Developments

• In September 2023, The WHO and the Government of India signed an agreement to establish the WHO Global Center for Traditional Medicine, fostering research and development in traditional medicine practices.
• In May 2023, Nutritional supplement company Nature's Bounty acquired herbal supplement brand Gaia Herbs, aiming to strengthen its presence in the botanical market.

Complementary And Alternative Medicine Market Report Gives Answers to Following Key Questions:

• What will be the Complementary and Alternative Medicine Market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers of Complementary and Alternative Medicine Market?
• What are the main forces behind the worldwide Complementary and Alternative Medicine Market? Which companies dominate the Complementary and Alternative Medicine Market?
• Which companies dominate the Complementary and Alternative Medicine Market? Which business possibilities, dangers, and tactics did they embrace in the market?
• What are the global Complementary and alternative medicine industry's suppliers' opportunities and dangers in Complementary and Alternative Medicine Market?
• What is the Complementary and alternative medicine industry's regional sales, income, and pricing analysis? In the Complementary and Alternative Medicine Market, who are the distributors, traders, and resellers?
• What are the 3main geographic areas for various trades that are anticipated to have astounding expansion over the Complementary and Alternative Medicine Market?
• What are the main geographical areas for various industries that are anticipated to observe an astounding expansion in Complementary and Alternative Medicine Market?
• What are the dominant revenue-generating regions for Complementary and Alternative Medicine Market, as well as regional growth trends?
• By the end of the forecast period, what will the market size and growth rate be?
• What are the main Complementary and Alternative Medicine Market trends that are influencing the market's expansion?
• Which key product categories dominate the Complementary and Alternative Medicine Market? What are the Complementary and Alternative Medicine Market’s main applications?
• In the coming years, which Complementary and Alternative Medicine Market technology will dominate the market?

Reason to purchase this Complementary And Alternative Medicine Market Report:

• Determine prospective investment areas based on a detailed trend analysis of the global Complementary And Alternative Medicine Market over the next years.
• Gain an in-depth understanding of the underlying factors driving demand for different Complementary And Alternative Medicine Market segments in the top spending countries across the world and identify the opportunities each offers.
• Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
• Identify the major channels that are driving the global Complementary And Alternative Medicine Market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
• Channelize resources by focusing on the ongoing programs that are being undertaken by the different countries within the global Complementary And Alternative Medicine Market.
• Make correct business decisions based on a thorough analysis of the total competitive landscape of the sector with detailed profiles of the top Complementary And Alternative Medicine Market providers worldwide, including information about their products, alliances, recent contract wins, and financial analysis wherever available.