Complementary and alternative medicine (CAM) has a tendency to minimize the side effects often associated with pharmaceutical interventions. Many CAM therapies, such as herbal remedies, acupuncture, and mind-body practices, prioritize natural and non-invasive approaches. This is especially advantageous for individuals who may be sensitive to or intolerant of certain medications, as CAM offers alternative methods with a reduced likelihood of adverse reactions. The emphasis on holistic healing in CAM often seeks to address the root causes of health issues, potentially mitigating the need for medications that can carry a range of side effects.
According to Data Bridge Market Research analyses the Global Complementary and Alternative Medicine Market was valued at USD 100.04 billion in 2021 and is expected to reach USD 477.29 billion by 2029, registering a CAGR of 21.57% during the forecast period of 2022 to 2029.
"Rise in chronic diseases boosts the market growth"
The rising prevalence of chronic diseases, particularly cancer, is a key driver for the complementary and alternative medicine (CAM) market. CAM plays a crucial role in cancer treatment, offering holistic approaches that complement conventional therapies. Its use is notable for alleviating common side effects such as pain, nausea, and fatigue. As individuals seek more comprehensive and integrated healthcare solutions, the demand for CAM is growing. The ability of CAM to enhance the quality of life for those dealing with chronic diseases contributes significantly to its increasing adoption and the overall expansion of the CAM market.
What restraints the growth of the global complementary and alternative medicine market?
“Poor healthcare infrastructure hampers the market growth”
The lack of healthcare infrastructure in developing economies serves as a significant restraint for the complementary and alternative medicine (CAM) market. In these regions, the absence of well-established healthcare facilities and services can hinder the integration and acceptance of CAM practices. Limited access to medical professionals, diagnostic tools, and standardized healthcare practices may lead to skepticism or reluctance to adopt complementary and alternative therapies. The effectiveness of CAM often relies on a supportive healthcare infrastructure for proper implementation and coordination with conventional medicine
Segmentation: Global Complementary and Alternative Medicine Market
The global complementary and alternative medicine market is segmented on the basis of type, disease indication, end-users, and distribution channel.
- On the basis of type, the global complementary and alternative medicine market is segmented into alternative medical systems, mind-body interventions, biologically based therapies, manipulative and body-based methods, energy therapies, and others
- On the basis of disease indication, the global complementary and alternative medicine market is segmented into arthritis, asthma, cancer, diabetes, cardiology, neurology, and others
- On the basis of end-user, the global complementary and alternative medicine market is segmented into hospitals, specialty clinics, therapy centers, and others
- On the basis of distribution channel, the global complementary and alternative medicine market is segmented into hospitals, special clinics/centers, direct contact, e-training, and others
Regional Insights: North America dominates the Global Complementary and Alternative Medicine Market
North America dominates the complementary and alternative medicine (CAM) market due to a growing population with serious health issues, increased healthcare spending, and a robust presence of skilled CAM professionals. These factors collectively drive the region's dominance in the evolving landscape of alternative healthcare.
The Asia-Pacific is set to grow significantly due to increasing use of health supplements, especially herbal ones, driven by a rising focus on preventive healthcare. The region's accessible healthcare infrastructure development further supports CAM adoption. Cultural trust in traditional medicine adds to the demand for alternative therapies, making the Asia-Pacific a promising market for CAM.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-complementary-and-alternative-medicine-market
The Prominent Key Players Operating in the Global Complementary and Alternative Medicine Market Include:
- Nordic Naturals (U.S.)
- Nature’s Bounty (U.S.)
- Unity Woods Yoga Center (U.S.)
- Columbia Nutritional (U.S.)
- First Natural Brands Ltd. (U.K.)
- Ayush Ayurveda (India)
- Pure Encapsulations, LLC. (U.S.)
- Quantum-Touch (U.S.)
- Herb Pharm, LLC (U.S.)
- Helio USA Inc. (U.S.)
- Nestlé S.A. (Switzerland)
Above are the key players covered in the report, to know about more and exhaustive list of global complementary and alternative medicine market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Complementary and Alternative Medicine Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
