Complementary And Alternative Medicine Market: A Holistic Approach to Wellness

 Complementary And Alternative Medicine Industry Overview

 

The global complementary and alternative medicine market size was valued at USD 144.68 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 25.3% from 2024 to 2030. The growing awareness regarding Complementary and Alternative Medicine (CAM), increasing disposable income, and government initiatives to boost CAM are some of the major factors driving the market growth.

 

Gather more insights about the market drivers, restrains and growth of the Complementary And Alternative Medicine Market

 

Rising adoption of electronic methods is also expected to boost the market growth as this increases reach of many alternative treatments and supplements. In order to increase penetration rate of CAM, several governments and regulatory bodies are undertaking efforts for finding clinical support for considering these techniques as alternative medicines.

 

In addition, increased penetration of the internet and social media to promote & offer CAM services or therapies has strengthened the market. For instance, The Healing Company Ltd. treats individuals through energy healing techniques and offers distance healing therapies using a teleconference or video conference. Many natural supplements and botanicals are made available online to improve product reach. Virtual reality and holographic presence have proven their potential to enhance treatment methods and their accessibility.

 

Meanwhile, Coworth Park introduced a new Hebridean sound treatment in October 2023. This exceptional offering provides individuals with a calming sound therapy experience, offering a moment of relaxation and revitalization. Sound therapy, known for its calming effects, adds another dimension to the growing array of wellness offerings, highlighting the industry's commitment to holistic well-being.

 

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• The global osteoporosis drugs market size was valued at USD 14.74 billion in 2023 and is projected to grow at a CAGR of 3.5% from 2024 to 2030. The growing prevalence of osteoporosis in the population is a significant factor fueling the growth of the osteoporosis drugs market. These drugs are used in treating patients dealing with disease and fractures, the geriatric population suffering from osteoarthritis, and women with postmenopausal disorders.

• The global immune health supplements market size was estimated at USD 26.60 billion in 2023 and is projected to grow at a CAGR of 10.72% from 2024 to 2030. The key factors driving market growth include the increasing prevalence of infectious diseases, diabetes, and several other disorders due to lack of immunity. In recent years, there is a constant trend observed about the increase in supplement usage to improve the body's immunity all over the globe.

Complementary And Alternative Medicine Market Segmentation

 

Grand View Research has segmented the global complementary and alternative medicine market based on intervention, distribution method, and region:

 

Complementary And Alternative Medicine Intervention Outlook (Revenue, USD Million, 2018 - 2030)

• Traditional Alternative Medicine/Botanicals
o Ayurveda
o Apitherapy
o Bach Flower Therapy
o Naturopathic Medicine
o Traditional Chinese Medicine
o Traditional Korean Medicine
o Traditional Japanese Medicine
o Traditional Mongolian Medicine
o Traditional Tibetan Medicine
o Zang Fu Theory
• Mind Healing
o Autosuggestion
o Hypnotherapy
o Neuro-linguistic Programming
o Self-hypnosis
o Spiritual Mind Treatment
o Transcendental Meditation
• Body Healing
o Acupressure
o Acupuncture
o Alexander Technique
o Auriculotherapy
o Autogenic Training
o Chiropractic
o Cupping Therapy
o Kinesiology
o Osteomyology
o Osteopathy
o Pilates
o Qigong
o Reflexology
o Yoga
• External Energy
o Magnetic Therapy
o Bio-magnetic Therapy
o Magnetic Resonance Therapy
o Radionics
o Reiki
o Therapeutic Touch
o Chakra Healing
• Sensory Healing
o Aromatherapy
o Music therapy
o Sonopuncture
o Sound Therapy

Complementary And Alternative Medicine Distribution Method Outlook (Revenue, USD Million, 2018 - 2030)

• Direct Sales
• E-sales
• Distance Correspondence

Complementary And Alternative Medicine Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
o U.S.
o Canada
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Denmark
o Sweden
o Norway
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o Thailand
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East & Africa
o South Africa
o Saudi Arabia
o UAE
o Kuwait

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Key Companies profiled:

• Columbia Nutritional
• Nordic Nutraceuticals
• Ramamani Iyengar Memorial Yoga Institute
• The Healing Company Ltd.
• John Schumacher Unity Woods Yoga Centre
• Sheng Chang Pharmaceutical Company
• Pure encapsulations, LLC.
• Herb Pharm
• AYUSH Ayurvedic Pte Ltd.