Product Code: A11182
The global complementary and alternative medicine market was valued at $101,995.95 million in 2021 and is projected to reach $437,864.92 million by 2031, registering a CAGR of 15.6% from 2022 to 2031 The term complementary and alternative medicines are used for those medicines which are not part of standard medical care. It can be used for various diseases such as cancer and chronic diseases. People with cancer can use complementary and alternative medicine (CAM) for various purposes such as it helps in coping up with the side effects of cancer treatment such as nausea, pain, and fatigue. Also, such therapies help cancer patients to reduce treatment-related stress and comfort themselves.
Some of the various types of complementary and alternative medicines are mind-body therapies which further include meditation, biofeedback, hypnosis, yoga, tai-chi, imagery, and various others. The biologically based CAM which are most commonly available includes vitamins, dietary supplements, botanicals (such as turmeric and cinnamon), and special diets and food. Energy healing CAM procedure involves reiki and therapeutic touch. And some other types of CAM procedures involve massage therapy, chiropractic therapy, and reflexology.
The key factors that drive the growth of the market are the rising prevalence of chronic and cancer disease, rise in the geriatric population, change in lifestyle, and an increase in adoption of natural ingredients such as herbs, food supplements, and ayurvedic formulations as alternative medicine and therapy. According to the World Health Organization report it has been estimated that around 80 % of individuals utilize herbal medication globally. Additionally, Ayurveda medicine has grown significantly in popularity during the pandemic as people turned to herbal or ayurvedic remedies to increase body immunity. Moreover, ayurvedic preventive, therapeutic, and convalescent care efforts for the COVID-19 pandemic were also expanded through the establishment of 1206 Ayur Raksha Clinics and accompanying task forces by the Kerala government in India in April 2020.
Moreover, the increase in the number of yoga and meditation centers in the last several years are also contributing in the growth of the complementary and alternative medicine market. For instance, post-COVID-19 pandemic there's a huge increase in demand of yoga and meditation centers to keep mind & body relax, stress has been linked to the strengthening or weakening of the immune cells.
However, patients' self-medication without consulting to physicians, and the high cost of various therapies hamper the market growth. Conversely, the emerging healthcare market in developing countries is expected to provide a lucrative opportunity during the forecast period.
The complementary and alternative medicine market is segmented on the basis of type, disease indication, distribution channel, and region. By type, the market is segmented into medicine and therapies. On the basis of disease indication, the market is segmented into diabetes, cardiovascular, neurological, cancer, arthritis and others. By distribution channel, the market is segmented into a direct sale, online sales and distance correspondence. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By type, on the basis of medicine, the market is further sub-segmented into ayurvedic, dietary supplements, homeopathic, traditional Chinese medicine, traditional Korean medicine, and others. On the basis of therapy, complementary and alternative medicine is further bifurcated into mind therapy, body therapy, magnetic therapy, and sensory therapy.
- Furthermore, mind therapy is divided into autosuggestion, hypnotherapy, neuro-linguistic programming, self-hypnosis, spiritual mind treatment, and transcendental meditation. The body therapy is sub-segmented into acupressure, acupuncture, yoga, alexander technique, auriculotherapy, autogenic training, cupping therapy, osteopathy, and others. Magnetic therapy is bifurcated into bio-magnetic therapy and magnetic resonance therapy. And sensory therapy is further categorized into aroma therapy, music therapy, sonopuncture, and sound therapy.
- North America accounted for a majority of the complementary and alternative medicine market share in 2021 and is anticipated to remain dominant during the forecast period. Owing to the increase in the healthcare expenditure of this region and the presence of major players in the country and the strategies they adopt for their product development.
- Asia-Pacific was the second largest contributor to the market in 2021, and is expected to register the fastest CAGR during the forecast period, owing to rise in the prevalence of chronic diseases and the increase in the geriatric population.
- The key players that operate in the complementary and alternative medicine market are All and one Medical, AYUSH Ayurvedic Pte Ltd., Douglas Laboratories, Herbal Hills, Herb Pharm LLC, John Schumacher Unity Woods Yoga Center, Juvenon LLC, New Life Chiropractic, Nordic Naturals, Nordic Nutraceuticals, Pure Encapsulations LLC, Quality of Life Labs, Ramamani Iyengar Memorial Yoga Institute, Sheng Chang Pharmaceutical Company, The Chicago Body Works, The Nature's Bounty Co, Valensa Inernational
- Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the complementary and alternative medicine market analysis from 2021 to 2031 to identify the prevailing complementary and alternative medicine market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the complementary and alternative medicine market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global complementary and alternative medicine market trends, key players, market segments, application areas, and market growth strategies.
- Key Market Segments
By Type
- Medicines
- Type
- Ayurvedic Medicines
- Dieatry Supplements
- Homeopathic Medicines
- Traditional Chinese Medicine
- Traditional Korean Medicine
- Others
- Therapy
- Type
- Mind Therapy
- Body Therapy
- Sensory Therapy
- Magnetic Therapy
By Disease Indication
- Cancer
- Arthritis
- Others
- Diabetes
- Cardiovascular
- Neurology
By Distribution Channels
- Direct Sales
- Online Sales
- Distance Correspondence
By Region
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Key Market Players
- Columbia Nutritional
- Herb Pharm
- Herbal Hills
- Helio USA Inc.
- NatureKue
- Nordic Nutraceuticals
- Pure encapsulations, LLC.
- The Healing Company Ltd.
- AYUSH Ayurvedic Pte Ltd.
- Sheng Chang Pharmaceutical Company
- Bikram Yoga
- Amrita Ayurveda and Yoga
- Body and Soul Yoga Club
- ALCES LLP
- Yoga Tree Studios, Inc.
- LKK Health Products Group Limited
TABLE OF CONTENTS
CHAPTER 1:INTRODUCTION
- 1.1.Report description
- 1.2.Key market segments
- 1.3.Key benefits to the stakeholders
- 1.4.Research Methodology
- 1.4.1.Secondary research
- 1.4.2.Primary research
- 1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
- 2.1.Key findings of the study
- 2.2.CXO Perspective
CHAPTER 3:MARKET OVERVIEW
- 3.1.Market definition and scope
- 3.2.Key findings
- 3.2.1.Top investment pockets
- 3.3.Porter's five forces analysis
- 3.4.Top player positioning
- 3.5.Market dynamics
- 3.5.1.Drivers
- 3.5.2.Restraints
- 3.5.3.Opportunities
- 3.6.COVID-19 Impact Analysis on the market
CHAPTER 4: COMPLEMENTARY AND ALTERNATIVE MEDICINE MARKET, BY TYPE
- 4.1 Overview
- 4.1.1 Market size and forecast
- 4.2 Medicines
- 4.2.1 Key market trends, growth factors and opportunities
- 4.2.2 Market size and forecast, by region
- 4.2.3 Market analysis by country
- 4.2.4 Medicines Complementary and Alternative Medicine Market by Type
- 4.3 Therapy
- 4.3.1 Key market trends, growth factors and opportunities
- 4.3.2 Market size and forecast, by region
- 4.3.3 Market analysis by country
- 4.3.4 Therapy Complementary and Alternative Medicine Market by Type
CHAPTER 5: COMPLEMENTARY AND ALTERNATIVE MEDICINE MARKET, BY DISEASE INDICATION
- 5.1 Overview
- 5.1.1 Market size and forecast
- 5.2 Diabetes
- 5.2.1 Key market trends, growth factors and opportunities
- 5.2.2 Market size and forecast, by region
- 5.2.3 Market analysis by country
- 5.3 Cardiovascular
- 5.3.1 Key market trends, growth factors and opportunities
- 5.3.2 Market size and forecast, by region
- 5.3.3 Market analysis by country
- 5.4 Neurology
- 5.4.1 Key market trends, growth factors and opportunities
- 5.4.2 Market size and forecast, by region
- 5.4.3 Market analysis by country
- 5.5 Cancer
- 5.5.1 Key market trends, growth factors and opportunities
- 5.5.2 Market size and forecast, by region
- 5.5.3 Market analysis by country
- 5.6 Arthritis
- 5.6.1 Key market trends, growth factors and opportunities
- 5.6.2 Market size and forecast, by region
- 5.6.3 Market analysis by country
- 5.7 Others
- 5.7.1 Key market trends, growth factors and opportunities
- 5.7.2 Market size and forecast, by region
- 5.7.3 Market analysis by country
CHAPTER 6: COMPLEMENTARY AND ALTERNATIVE MEDICINE MARKET, BY DISTRIBUTION CHANNELS
- 6.1 Overview
- 6.1.1 Market size and forecast
- 6.2 Direct Sales
- 6.2.1 Key market trends, growth factors and opportunities
- 6.2.2 Market size and forecast, by region
- 6.2.3 Market analysis by country
- 6.3 Online Sales
- 6.3.1 Key market trends, growth factors and opportunities
- 6.3.2 Market size and forecast, by region
- 6.3.3 Market analysis by country
- 6.4 Distance Correspondence
- 6.4.1 Key market trends, growth factors and opportunities
- 6.4.2 Market size and forecast, by region
- 6.4.3 Market analysis by country
CHAPTER 7: COMPLEMENTARY AND ALTERNATIVE MEDICINE MARKET, BY REGION
- 7.1 Overview
- 7.1.1 Market size and forecast
- 7.2 North America
- 7.2.1 Key trends and opportunities
- 7.2.2 North America Market size and forecast, by Type
- 7.2.3 North America Market size and forecast, by Disease Indication
- 7.2.4 North America Market size and forecast, by Distribution Channels
- 7.2.5 North America Market size and forecast, by country
- 7.2.5.1 U.S.
- 7.2.5.1.1 Market size and forecast, by Type
- 7.2.5.1.2 Market size and forecast, by Disease Indication
- 7.2.5.1.3 Market size and forecast, by Distribution Channels
- 7.2.5.2 Canada
- 7.2.5.2.1 Market size and forecast, by Type
- 7.2.5.2.2 Market size and forecast, by Disease Indication
- 7.2.5.2.3 Market size and forecast, by Distribution Channels
- 7.2.5.3 Mexico
- 7.2.5.3.1 Market size and forecast, by Type
- 7.2.5.3.2 Market size and forecast, by Disease Indication
- 7.2.5.3.3 Market size and forecast, by Distribution Channels
- 7.3 Europe
- 7.3.1 Key trends and opportunities
- 7.3.2 Europe Market size and forecast, by Type
- 7.3.3 Europe Market size and forecast, by Disease Indication
- 7.3.4 Europe Market size and forecast, by Distribution Channels
- 7.3.5 Europe Market size and forecast, by country
- 7.3.5.1 Germany
- 7.3.5.1.1 Market size and forecast, by Type
- 7.3.5.1.2 Market size and forecast, by Disease Indication
- 7.3.5.1.3 Market size and forecast, by Distribution Channels
- 7.3.5.2 France
- 7.3.5.2.1 Market size and forecast, by Type
- 7.3.5.2.2 Market size and forecast, by Disease Indication
- 7.3.5.2.3 Market size and forecast, by Distribution Channels
- 7.3.5.3 UK
- 7.3.5.3.1 Market size and forecast, by Type
- 7.3.5.3.2 Market size and forecast, by Disease Indication
- 7.3.5.3.3 Market size and forecast, by Distribution Channels
- 7.3.5.4 Italy
- 7.3.5.4.1 Market size and forecast, by Type
- 7.3.5.4.2 Market size and forecast, by Disease Indication
- 7.3.5.4.3 Market size and forecast, by Distribution Channels
- 7.3.5.5 Spain
- 7.3.5.5.1 Market size and forecast, by Type
- 7.3.5.5.2 Market size and forecast, by Disease Indication
- 7.3.5.5.3 Market size and forecast, by Distribution Channels
- 7.3.5.6 Rest of Europe
- 7.3.5.6.1 Market size and forecast, by Type
- 7.3.5.6.2 Market size and forecast, by Disease Indication
- 7.3.5.6.3 Market size and forecast, by Distribution Channels
- 7.4 Asia-Pacific
- 7.4.1 Key trends and opportunities
- 7.4.2 Asia-Pacific Market size and forecast, by Type
- 7.4.3 Asia-Pacific Market size and forecast, by Disease Indication
- 7.4.4 Asia-Pacific Market size and forecast, by Distribution Channels
- 7.4.5 Asia-Pacific Market size and forecast, by country
- 7.4.5.1 Japan
- 7.4.5.1.1 Market size and forecast, by Type
- 7.4.5.1.2 Market size and forecast, by Disease Indication
- 7.4.5.1.3 Market size and forecast, by Distribution Channels
- 7.4.5.2 China
- 7.4.5.2.1 Market size and forecast, by Type
- 7.4.5.2.2 Market size and forecast, by Disease Indication
- 7.4.5.2.3 Market size and forecast, by Distribution Channels
- 7.4.5.3 Australia
- 7.4.5.3.1 Market size and forecast, by Type
- 7.4.5.3.2 Market size and forecast, by Disease Indication
- 7.4.5.3.3 Market size and forecast, by Distribution Channels
- 7.4.5.4 India
- 7.4.5.4.1 Market size and forecast, by Type
- 7.4.5.4.2 Market size and forecast, by Disease Indication
- 7.4.5.4.3 Market size and forecast, by Distribution Channels
- 7.4.5.5 South Korea
- 7.4.5.5.1 Market size and forecast, by Type
- 7.4.5.5.2 Market size and forecast, by Disease Indication
- 7.4.5.5.3 Market size and forecast, by Distribution Channels
- 7.4.5.6 Rest Of Asia Pacific
- 7.4.5.6.1 Market size and forecast, by Type
- 7.4.5.6.2 Market size and forecast, by Disease Indication
- 7.4.5.6.3 Market size and forecast, by Distribution Channels
- 7.5 LAMEA
- 7.5.1 Key trends and opportunities
- 7.5.2 LAMEA Market size and forecast, by Type
- 7.5.3 LAMEA Market size and forecast, by Disease Indication
- 7.5.4 LAMEA Market size and forecast, by Distribution Channels
- 7.5.5 LAMEA Market size and forecast, by country
- 7.5.5.1 Brazil
- 7.5.5.1.1 Market size and forecast, by Type
- 7.5.5.1.2 Market size and forecast, by Disease Indication
- 7.5.5.1.3 Market size and forecast, by Distribution Channels
- 7.5.5.2 Saudi Arabia
- 7.5.5.2.1 Market size and forecast, by Type
- 7.5.5.2.2 Market size and forecast, by Disease Indication
- 7.5.5.2.3 Market size and forecast, by Distribution Channels
- 7.5.5.3 South Africa
- 7.5.5.3.1 Market size and forecast, by Type
- 7.5.5.3.2 Market size and forecast, by Disease Indication
- 7.5.5.3.3 Market size and forecast, by Distribution Channels
- 7.5.5.4 Rest of LAMEA
- 7.5.5.4.1 Market size and forecast, by Type
- 7.5.5.4.2 Market size and forecast, by Disease Indication
- 7.5.5.4.3 Market size and forecast, by Distribution Channels
CHAPTER 8: COMPANY LANDSCAPE
- 8.1. Introduction
- 8.2. Top winning strategies
- 8.3. Product Mapping of Top 10 Player
- 8.4. Competitive Dashboard
- 8.5. Competitive Heatmap
- 8.6. Key developments
CHAPTER 9: COMPANY PROFILES
- 9.1 Columbia Nutritional
- 9.1.1 Company overview
- 9.1.2 Company snapshot
- 9.1.3 Operating business segments
- 9.1.4 Product portfolio
- 9.1.5 Business performance
- 9.1.6 Key strategic moves and developments
- 9.2 Herb Pharm
- 9.2.1 Company overview
- 9.2.2 Company snapshot
- 9.2.3 Operating business segments
- 9.2.4 Product portfolio
- 9.2.5 Business performance
- 9.2.6 Key strategic moves and developments
- 9.3 Herbal Hills
- 9.3.1 Company overview
- 9.3.2 Company snapshot
- 9.3.3 Operating business segments
- 9.3.4 Product portfolio
- 9.3.5 Business performance
- 9.3.6 Key strategic moves and developments
- 9.4 Helio USA Inc.
- 9.4.1 Company overview
- 9.4.2 Company snapshot
- 9.4.3 Operating business segments
- 9.4.4 Product portfolio
- 9.4.5 Business performance
- 9.4.6 Key strategic moves and developments
- 9.5 NatureKue
- 9.5.1 Company overview
- 9.5.2 Company snapshot
- 9.5.3 Operating business segments
- 9.5.4 Product portfolio
- 9.5.5 Business performance
- 9.5.6 Key strategic moves and developments
- 9.6 Nordic Nutraceuticals
- 9.6.1 Company overview
- 9.6.2 Company snapshot
- 9.6.3 Operating business segments
- 9.6.4 Product portfolio
- 9.6.5 Business performance
- 9.6.6 Key strategic moves and developments
- 9.7 Pure encapsulations, LLC.
- 9.7.1 Company overview
- 9.7.2 Company snapshot
- 9.7.3 Operating business segments
- 9.7.4 Product portfolio
- 9.7.5 Business performance
- 9.7.6 Key strategic moves and developments
- 9.8 The Healing Company Ltd.
- 9.8.1 Company overview
- 9.8.2 Company snapshot
- 9.8.3 Operating business segments
- 9.8.4 Product portfolio
- 9.8.5 Business performance
- 9.8.6 Key strategic moves and developments
- 9.9 AYUSH Ayurvedic Pte Ltd.
- 9.9.1 Company overview
- 9.9.2 Company snapshot
- 9.9.3 Operating business segments
- 9.9.4 Product portfolio
- 9.9.5 Business performance
- 9.9.6 Key strategic moves and developments
- 9.10 Sheng Chang Pharmaceutical Company
- 9.10.1 Company overview
- 9.10.2 Company snapshot
- 9.10.3 Operating business segments
- 9.10.4 Product portfolio
- 9.10.5 Business performance
- 9.10.6 Key strategic moves and developments
- 9.11 Bikram Yoga
- 9.11.1 Company overview
- 9.11.2 Company snapshot
- 9.11.3 Operating business segments
- 9.11.4 Product portfolio
- 9.11.5 Business performance
- 9.11.6 Key strategic moves and developments
- 9.12 Amrita Ayurveda and Yoga
- 9.12.1 Company overview
- 9.12.2 Company snapshot
- 9.12.3 Operating business segments
- 9.12.4 Product portfolio
- 9.12.5 Business performance
- 9.12.6 Key strategic moves and developments
- 9.13 Body and Soul Yoga Club
- 9.13.1 Company overview
- 9.13.2 Company snapshot
- 9.13.3 Operating business segments
- 9.13.4 Product portfolio
- 9.13.5 Business performance
- 9.13.6 Key strategic moves and developments
- 9.14 ALCES LLP
- 9.14.1 Company overview
- 9.14.2 Company snapshot
- 9.14.3 Operating business segments
- 9.14.4 Product portfolio
- 9.14.5 Business performance
- 9.14.6 Key strategic moves and developments
- 9.15 Yoga Tree Studios, Inc.
- 9.15.1 Company overview
- 9.15.2 Company snapshot
- 9.15.3 Operating business segments
- 9.15.4 Product portfolio
- 9.15.5 Business performance
- 9.15.6 Key strategic moves and developments
- 9.16 LKK Health Products Group Limited
- 9.16.1 Company overview
- 9.16.2 Company snapshot
- 9.16.3 Operating business segments
- 9.16.4 Product portfolio
- 9.16.5 Business performance
- 9.16.6 Key strategic moves and developments