Complementary and Alternative Medicine Market CAGR Estimation:
The estimated Compound Annual Growth Rate (CAGR) for the CAM market is 17.9% from 2024 to 2030.
Complementary and Alternative Medicine Market Growth or Demand Increase or Decrease for what contains ?
The Complementary and Alternative Medicine (CAM) market encompasses a broad range of healthcare practices outside mainstream medicine. This includes traditional practices such as Ayurvedic and Chinese medicine, specific therapies like shark cartilage and bee pollen, and techniques like ozone therapy. CAM is gaining traction globally due to its perceived benefits in managing chronic diseases, cost-effectiveness, and government support.
The market has expanded significantly, driven by the launch of new goods in response to increased demand and ongoing innovation. For example, in 2019, DaVita Medical Group announced a shift towards innovative therapies tailored for children while also supporting a diverse spectrum of healthcare specialists such as physicians, physical therapists, and chiropractors. In 2023, almost two-thirds of the population in both industrialised and developing countries reported utilising some sort of complementary or alternative medicine.
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Complementary and Alternative Medicine Market Segmentation:
By Intervention:
- Traditional Alternative Medicine/Botanicals: Practices such as Ayurveda, Chinese medicine.
- Mind Healing: Meditation, relaxation techniques.
- Body Healing: Massage therapy, acupuncture.
- External Energy: Practices involving energy fields.
By Product:
- Vitamins
- Minerals
- Herbal Products
- Others
By Diseases:
- Cancer
- Diabetes
- Chronic Pain
- Coronary Artery Disease
- Others
By Disease, the cancer category is predicted to increase at an 8.1% CAGR over the forecast period. The use of complementary and alternative medicine among cancer patients has steadily increased during the last several decades. 16% of cancer patients in the United Kingdom use complementary and alternative treatment. The number is comparable to the 13% reported for complementary and alternative medicine in the United States. However, a survey of 127 cancer patients in the United Kingdom revealed that 29% used complementary and alternative treatment.
By Distribution Channel:
- Direct Sales
- E-sales
- Distance Correspondence
- Other
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Complementary and Alternative Medicine Market Overview:
The Maximise Market Research study provides clients with a comprehensive understanding of the competitive landscape and acts as a useful resource for strategic planning. The comprehensive Complementary and Alternative Medicine Market overview includes detailed information on market size, trade statistics, key players, and a number of industry indicators such as the life cycle and current trends.
Complementary and Alternative Medicine Market Growth or Demand in which regions??
North America:
- Leads the market due to high healthcare expenditure and a significant number of CAM professionals.
- In 2023, North America held the highest revenue share compared to other regions.
Europe:
- Expected to hold a significant revenue share during the forecast period.
- In 2023, Europe was the most significant global market for CAM, with a 28.72% market revenue share.
- High demand for CAM treatments such as acupuncture and herbal therapies.
Asia Pacific:
- Poised for significant growth due to rising demand for herbal supplements and a rich variety of medicinal plants.
- Increasing acceptance and integration of CAM in mainstream healthcare.
Complementary and Alternative Medicine Market Scope Methodology:
The competitive landscape of the Complementary and Alternative Medicine market includes technological adoption, financial strength, portfolio, mergers and acquisitions, joint ventures, and strategic alliances. A thorough examination of the Complementary and Alternative Medicine Market’s drivers, limits, opportunities, and challenges. The estimations and growth rates for the Complementary and Alternative Medicine market were calculated using a bottom-up approach.
To gain insight into Complementary and Alternative Medicine Market penetration, price dynamics, demand analysis, and competitive landscape, the report conducted regional analysis at the local, regional, and global levels. Essential information on the Complementary and Alternative Medicine Market, including stakeholders, investors, and new entrants, is supplied to assist in the development of marketing strategies and investment plans.
The Complementary and Alternative Medicine Market was studied utilising both primary and secondary data collection methods. Primary methods comprised surveys, questionnaires, and interviews with industry executives and business owners, whilst secondary data sources included news releases, annual and financial reports, white papers, and so on. The SWOT analysis was utilised to identify market vulnerabilities and weaknesses, while the PORTER framework was employed to evaluate industry competitiveness in the Complementary and Alternative Medicine market.
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Complementary and Alternative Medicine Market Key Players:
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. Merck Sharp Dohme Corporation(US)
9. UAS Laboratories.(US)
10. The Healing Company (New Zealand)
11. Nature’s Bounty(UK)
12. First Natural Brands Ltd.(UK)
13. Herbal Hills(India)
14. Sheng Chang Pharmaceutical Company (Taiwan)
15. Ramamani Iyengar Memorial Yoga Institute (Maharashtra, India)
16. Ayush Ayurvedic Pte. Ltd.(Singapore)
17. Columbia Nutritional LLC (Washington, United States)
18. Yoga Tree Studios, Inc. (Toronto, Ontario, Canada)
19. ALCES LLP, (London, United Kingdom)
20. Amrita Ayurveda and Yoga, (Kerala, India)
21. NatureKue, (Singapore)
22. Body and Soul Yoga Club, (Brussels, Belgium)
23. Bikram Yoga, (California, United States)
24. LKK Health Products Group Limited (Hong Kong, China)
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Key questions answered in the Complementary and Alternative Medicine Market are:
- What is Complementary and Alternative Medicine Market?
- What is the growth rate of the Complementary and Alternative Medicine Market?
- Which are the factors expected to drive the Complementary and Alternative Medicine Market growth?
- What are the different segments of the Complementary and Alternative Medicine Market?
- What are the factors restraining the growth of the Complementary and Alternative Medicine Market?
- What is the demand pattern of the Complementary and Alternative Medicine Market?
- What major challenges could the Complementary and Alternative Medicine Market face in the future?
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- Past Market Size and Competitive Landscape
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- Market Size, Share, Size Forecast by different segment |
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
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