The Global Complementary and Alternative Medicine Market was valued USD 117.6 Billion in 2023 and projected to reach USD 143.3 Billion by 2030, growing at a CAGR of 2.5% during the forecast period of 2023-2030
Richmond, Jan. 31, 2024 (GLOBE NEWSWIRE) — According to a research report “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), Disease Indication (Cancer, Arthritis, Diabetes, Cardiovascular, Neurology, Others), Distribution Channel (Hypermarkets and Supermarkets, Conventional Store, Online, Subscription Model, Others) and Region – Global Forecast to 2030.
Global Complementary And Alternative Medicine Market Report Scope:
|Market size value in 2023
|USD 117.6 Billion
|Market size value in 2030
|USD 143.3 Billion
|Value (USD Million/USD Billion)
|Type, Disease Indication, Distribution Channel and Region
|North America, Europe, Asia Pacific, and RoW
|Sample of Companies Covered
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TOC Covers in Depth & Breath on Complementary And Alternative Medicine Market
170 – Market Data Tables
65 – List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
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.
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
- Nordic Nutraceuticals
- Pure encapsulations
- Sheng Chang Pharmaceutical Company
- The Healing Company Ltd
- Yoga Tree Studios, Inc
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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
- Increasing consumer interest in holistic healthcare
- Rising awareness of natural and traditional healing methods
- Growing focus on preventing healthcare
- Convenience and Time-saving
- 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.
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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.
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