Product Code: GVR-1-68038-725-4
Complementary And Alternative Medicine Market Growth & Trends:
The global complementary and alternative medicine market size is expected to reach USD 694.22 billion by 2030 and is expected to expand at 25.1% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The rising prevalence of neurological illnesses and cancer is one of the major factors driving the growth of the global complementary & alternative medicine industry.
Furthermore, the expanding government initiatives and activities are contributing to the growth and development of the global complementary & alternative medicine industry. Globally, governments are establishing advantageous rules and legislation for the manufacturing and marketing processes, which is driving the expansion of the global industry.
Complementary & alternative medicine (CAM) differs from traditional or standard medical interventions. It employs herbs, homeopathic remedies, acupuncture, massage therapy, and preventative care. Furthermore, complementary & alternative medicines are widely utilized to treat a variety of illnesses such as pain, exhaustion, cancer, and nausea, and increasing public understanding of the benefits of natural substitute therapies which is further boosting the market growth.
For instance, In December 2019, Modern Acupuncture launched a new clinic in Florida, making it the second Modern Acupuncture location in Florida and the 54th in the U.S. This is in line with the company's vision to spread the clinic's acupuncture services across the country and strengthen its market position.
Despite significant efforts to provide effective COVID-19 therapy and prophylaxis, many people continue to become infected. This could be accounted for by the ongoing virus changes and, as a result, the vaccine's efficiency. As a result, long-term immune enhancement is a promising approach to combating SARS-CoV-2 infection.
Medicinal plants and some other complementary & alternative therapies have been utilized successfully in treating a wide range of health issues. Several studies have shown the efficacy of cupping therapy, natural products, and acupressure against SARS-CoV-2. Hence, it will create a positive impact on the market.
The market has expanded significantly as a result of new products being introduced in response to rising treatment demand and ongoing innovation. For instance, in 2019, Optum acquired DaVita Medical Group. This investment will go toward the advancement of novel therapies for children, as well as physicians, healthcare providers, physiotherapists, and chiropractors.
Furthermore, approximately two-thirds of the populations in most developed and developing countries reported using an alternative or complementary therapy. Furthermore, increased investment in advanced technology research and an expansion of the number of emerging economies are expected to give advantageous prospects for the market throughout the projection period.
Complementary And Alternative Medicine Market Highlights:
- By intervention, traditional alternative medicine or botanicals dominated the market with a share of 34.19% in 2022. Botanicals are among the prominent forms of alternative treatment practices, inclusive of natural and herbal treatment supplements, coupled with therapeutic interventions, incorporating herbs, oils, and other curative supplements
- By distribution method, the direct sales segment held a larger share in 2022. Due to the rapid growth in medical tourism, direct sales therapy is anticipated to dominate the market. Government funding is assisting in this development by upgrading treatment facilities and supporting alternative medicine
- Europe held the larger share in 2022. CAM has gained immense popularity across Europe, including a wide range of procedures less dependent on modern medication, such as acupuncture. Thus, boosting the industry's growth
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Information Procurement
- 1.2. Information or Data Analysis
- 1.3. Market Scope & Segment Definition
- 1.4. Market Model
- 1.4.1. Market Study, By Company Market Share
- 1.4.2. Regional Analysis
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope
- 3.1. Market Segmentation and Scope
- 3.2. Market Lineage Outlook
- 3.2.1. Parent Market Outlook
- 3.2.2. Related/Ancillary Market Outlook
- 3.3. Market Trends and Outlook
- 3.4. Market Dynamics
- 3.4.1. Growing awareness of wellness medicine
- 3.4.2. Growing recognition and coverage
- 3.4.3. Government initiatives and changing regulatory status
- 3.4.4. Demographic changes drive demand
- 3.5. Market Restraint Analysis
- 3.5.1. Lack of scientific results
- 3.5.2. Poor understanding of alternative medicine
- 3.6. Penetration and Growth Prospect Mapping 2022
- 3.7. Business Environment Analysis
- 3.7.1. SWOT Analysis; By Factor (Political & Legal, Economic And Technological)
- 3.7.2. Porter's Five Forces Analysis
- 3.8. COVID-19 Impact Analysis
Chapter 4. Intervention Business Analysis
- 4.1. Complementary And Alternative Medicine Market: Intervention Movement Analysis
- 4.2. Traditional Alternative Medicine/Botanicals
- 4.2.1. Traditional Alternative Medicine/Botanicals Market, 2018 - 2030 (USD Million)
- 4.2.1.1. Ayurveda
- 4.2.1.1.1. Ayurveda Market, 2018 - 2030 (USD Million)
- 4.2.1.2. Apitherapy
- 4.2.1.2.1. Apitherapy Market, 2018 - 2030 (USD Million)
- 4.2.1.3. Bach Flower Therapy
- 4.2.1.3.1. Bach Flower Therapy Market, 2018 - 2030 (USD Million)
- 4.2.1.4. Naturopathic Medicine
- 4.2.1.4.1. Naturopathic Medicine Market, 2018 - 2030 (USD Million)
- 4.2.1.5. Traditional Chinese Medicine
- 4.2.1.5.1. Traditional Chinese Medicine Market, 2018 - 2030 (USD Million)
- 4.2.1.6. Traditional Korean Medicine
- 4.2.1.6.1. Traditional Korean Medicine Market, 2018 - 2030 (USD Million)
- 4.2.1.7. Traditional Japanese Medicine
- 4.2.1.7.1. Traditional Japanese Medicine Market, 2018 - 2030 (USD Million)
- 4.2.1.8. Traditional Mongolian Medicine
- 4.2.1.8.1. Traditional Mongolian Medicine Market, 2018 - 2030 (USD Million)
- 4.2.1.9. Traditional Tibetan Medicine
- 4.2.1.9.1. Traditional Tibetan Medicine Market, 2018 - 2030 (USD Million)
- 4.2.1.10. Zang Fu Theory
- 4.2.1.10.1. Zang Fu Theory Market, 2018 - 2030 (USD Million)
- 4.3. Mind Healing
- 4.3.1. Mind Healing Market, 2018 - 2030 (USD Million)
- 4.3.1.1. Autosuggestion
- 4.3.1.1.1. Autosuggestion Market, 2018 - 2030 (USD Million)
- 4.3.1.2. Hypnotherapy
- 4.3.1.2.1. Hypnotherapy Market, 2018 - 2030 (USD Million)
- 4.3.1.3. Neuro-linguistic Programming
- 4.3.1.3.1. Neuro-linguistic Programming Market, 2018 - 2030 (USD Million)
- 4.3.1.4. Self-hypnosis
- 4.3.1.4.1. Self-hypnosis Market, 2018 - 2030 (USD Million)
- 4.3.1.5. Spiritual Mind Treatment
- 4.3.1.5.1. Spiritual Mind Treatment Market, 2018 - 2030 (USD Million)
- 4.3.1.6. Transcendental Meditation
- 4.3.1.6.1. Transcendental Meditation Market, 2018 - 2030 (USD Million)
- 4.4. Body Healing
- 4.4.1. Body Healing Market, 2018 - 2030 (USD Million)
- 4.4.1.1. Acupressure
- 4.4.1.1.1. Acupressure Market, 2018 - 2030 (USD Million)
- 4.4.1.2. Acupuncture
- 4.4.1.2.1. Acupuncture Market, 2018 - 2030 (USD Million)
- 4.4.1.3. Alexander Technique
- 4.4.1.3.1. Alexander Technique Market, 2018 - 2030 (USD Million)
- 4.4.1.4. Auriculotherapy
- 4.4.1.4.1. Auriculotherapy Market, 2018 - 2030 (USD Million)
- 4.4.1.5. Autogenic Training
- 4.4.1.5.1. Autogenic Training Market, 2018 - 2030 (USD Million)
- 4.4.1.6. Chiropractic
- 4.4.1.6.1. Chiropractic Market, 2018 - 2030 (USD Million)
- 4.4.1.7. Cupping Therapy
- 4.4.1.7.1. Cupping Therapy Market, 2018 - 2030 (USD Million)
- 4.4.1.8. Kinesiology
- 4.4.1.8.1. Kinesiology Market, 2018 - 2030 (USD Million)
- 4.4.1.9. Osteomyology
- 4.4.1.9.1. Osteomyology Market, 2018 - 2030 (USD Million)
- 4.4.1.10. Osteopathy
- 4.4.1.10.1. Osteopathy Market, 2018 - 2030 (USD Million)
- 4.4.1.11. Pilates
- 4.4.1.11.1. Pilates Market, 2018 - 2030 (USD Million)
- 4.4.1.12. Qigong
- 4.4.1.12.1. Qigong Market, 2018 - 2030 (USD Million)
- 4.4.1.13. Reflexology
- 4.4.1.13.1. Reflexology Market, 2018 - 2030 (USD Million)
- 4.4.1.14. Yoga
- 4.4.1.14.1. Yoga Market, 2018 - 2030 (USD Million)
- 4.5. External Energy
- 4.5.1. External Energy Market, 2018 - 2030 (USD Million)
- 4.5.1.1. Magnetic Therapy
- 4.5.1.1.1. Magnetic Therapy Market, 2018 - 2030 (USD Million)
- 4.5.1.1.1.1. Bio-magnetic Therapy
- 4.5.1.1.1.1.1. Bio-magnetic Therapy Market, 2018 - 2030 (USD Million)
- 4.5.1.1.1.2. Magnetic Resonance Therapy
- 4.5.1.1.1.2.1. Magnetic Resonance Therapy Market, 2018 - 2030 (USD Million)
- 4.5.1.2. Reiki
- 4.5.1.2.1. Reiki Market, 2018 - 2030 (USD Million)
- 4.5.1.3. Therapeutic Touch
- 4.5.1.3.1. Therapeutic Touch Market, 2018 - 2030 (USD Million)
- 4.5.1.4. Chakra Healing
- 4.5.1.4.1. Chakra Healing Market, 2018 - 2030 (USD Million)
- 4.5.1.5. Sensory Healing
- 4.5.1.5.1. Sensory Healing Market, 2018 - 2030 (USD Million)
- 4.5.1.5.2. Aromatherapy
- 4.5.1.5.2.1. Aromatherapy Market, 2018 - 2030 (USD Million)
- 4.5.1.5.3. Music therapy
- 4.5.1.5.3.1. Music therapy Market, 2018 - 2030 (USD Million)
- 4.5.1.5.4. Sonopuncture
- 4.5.1.5.4.1. Sonopuncture Market, 2018 - 2030 (USD Million)
- 4.5.1.5.5. Sound Therapy
- 4.5.1.5.5.1. Sound Therapy Market, 2018 - 2030 (USD Million)
Chapter 5. Distribution Method Business Analysis
- 5.1. Complementary And Alternative Medicine Market: Distribution Method Movement Analysis
- 5.2. Direct Sales
- 5.2.1. Direct Sales Market, 2018 - 2030 (USD Million)
- 5.3. E-Sales
- 5.3.1. E-Sales Market, 2018 - 2030 (USD Million)
- 5.4. Distance Correspondence
- 5.4.1. Distance Correspondence Market, 2018 - 2030 (USD Million)
Chapter 6. Regional Business Analysis
- 6.1. Complementary And Alternative Medicine Market Share By Region, 2022 & 2030
- 6.2. North America
- 6.2.1. SWOT Analysis
- 6.2.2. North America Complementary and Alternative Medicine Market, by Intervention, 2018 - 2030 (USD Million)
- 6.2.3. North America Complementary And Alternative Medicine Market, By Distribution Method, 2018 - 2030 (USD Million)
- 6.2.4. U.S.
- 6.2.4.1. Key Country Dynamics
- 6.2.4.2. Target Disease Prevalence
- 6.2.4.3. Competitive Scenario
- 6.2.4.4. Regulatory Framework
- 6.2.4.5. Reimbursement Scenario
- 6.2.4.6. U.S. Complementary And Alternative Medicine Market 2018 - 2030 (USD Million)
- 6.2.5. Canada
- 6.2.5.1. Key Country Dynamics
- 6.2.5.2. Target Disease Prevalence
- 6.2.5.3. Competitive Scenario
- 6.2.5.4. Regulatory Framework
- 6.2.5.5. Reimbursement Scenario
- 6.2.5.6. Canada Complementary And Alternative Medicine Market 2018 - 2030 (USD Million)
- 6.3. Europe
- 6.3.1. SWOT Analysis
- 6.3.2. Europe Complementary and Alternative Medicine Market, by Intervention, 2018 - 2030 (USD Million)
- 6.3.3. Europe Complementary And Alternative Medicine Market, By Distribution Method, 2018 - 2030 (USD Million)
- 6.3.4. Germany
- 6.3.4.1. Key Country Dynamics
- 6.3.4.2. Target Disease Prevalence
- 6.3.4.3. Competitive Scenario
- 6.3.4.4. Regulatory Framework
- 6.3.4.5. Reimbursement Scenario
- 6.3.4.6. Germany Complementary And Alternative Medicine Market 2018 - 2030 (USD Million)
- 6.3.5. U.K.
- 6.3.5.1. Key Country Dynamics
- 6.3.5.2. Target Disease Prevalence
- 6.3.5.3. Competitive Scenario
- 6.3.5.4. Regulatory Framework
- 6.3.5.5. Reimbursement Scenario
- 6.3.5.6. U.K. Complementary And Alternative Medicine Market 2018 - 2030 (USD Million)
- 6.3.6. France
- 6.3.6.1. Key Country Dynamics
- 6.3.6.2. Target Disease Prevalence
- 6.3.6.3. Competitive Scenario
- 6.3.6.4. Regulatory Framework
- 6.3.6.5. Reimbursement Scenario
- 6.3.6.6. France Complementary And Alternative Medicine Market 2018 - 2030 (USD Million)
- 6.3.7. Italy
- 6.3.7.1. Key Country Dynamics
- 6.3.7.2. Target Disease Prevalence
- 6.3.7.3. Competitive Scenario
- 6.3.7.4. Regulatory Framework
- 6.3.7.5. Reimbursement Scenario
- 6.3.7.6. Italy Complementary And Alternative Medicine Market 2018 - 2030 (USD Million)
- 6.3.8. Spain
- 6.3.8.1. Key Country Dynamics
- 6.3.8.2. Target Disease Prevalence
- 6.3.8.3. Competitive Scenario
- 6.3.8.4. Regulatory Framework
- 6.3.8.5. Reimbursement Scenario
- 6.3.8.6. Spain Complementary And Alternative Medicine Market 2018 - 2030 (USD Million)
- 6.3.9. Denmark
- 6.3.9.1. Key Country Dynamics
- 6.3.9.2. Target Disease Prevalence
- 6.3.9.3. Competitive Scenario
- 6.3.9.4. Regulatory Framework
- 6.3.9.5. Reimbursement Scenario
- 6.3.9.6. Denmark Complementary And Alternative Medicine Market 2018 - 2030 (USD Million)
- 6.3.10. Sweden
- 6.3.10.1. Key Country Dynamics
- 6.3.10.2. Target Disease Prevalence
- 6.3.10.3. Competitive Scenario
- 6.3.10.4. Regulatory Framework
- 6.3.10.5. Reimbursement Scenario
- 6.3.10.6. Sweden Complementary And Alternative Medicine Market 2018 - 2030 (USD Million)
- 6.3.11. Norway
- 6.3.11.1. Key Country Dynamics
- 6.3.11.2. Target Disease Prevalence
- 6.3.11.3. Competitive Scenario
- 6.3.11.4. Regulatory Framework
- 6.3.11.5. Reimbursement Scenario
- 6.3.11.6. Norway Complementary And Alternative Medicine Market 2018 - 2030 (USD Million)
- 6.4. Asia Pacific
- 6.4.1. SWOT Analysis
- 6.4.2. Asia Pacific Complementary and Alternative Medicine Market, by Intervention, 2018 - 2030 (USD Million)
- 6.4.3. Asia Pacific Complementary And Alternative Medicine Market, By Distribution Method, 2018 - 2030 (USD Million)
- 6.4.4. Japan
- 6.4.4.1. Key Country Dynamics
- 6.4.4.2. Target Disease Prevalence
- 6.4.4.3. Competitive Scenario
- 6.4.4.4. Regulatory Framework
- 6.4.4.5. Reimbursement Scenario
- 6.4.4.6. Japan Complementary And Alternative Medicine Market 2018 - 2030 (USD Million)
- 6.4.5. China
- 6.4.5.1. Key Country Dynamics
- 6.4.5.2. Target Disease Prevalence
- 6.4.5.3. Competitive Scenario
- 6.4.5.4. Regulatory Framework
- 6.4.5.5. Reimbursement Scenario
- 6.4.5.6. China Complementary And Alternative Medicine Market 2018 - 2030 (USD Million)
- 6.4.6. India
- 6.4.6.1. Key Country Dynamics
- 6.4.6.2. Target Disease Prevalence
- 6.4.6.3. Competitive Scenario
- 6.4.6.4. Regulatory Framework
- 6.4.6.5. Reimbursement Scenario
- 6.4.6.6. India Complementary And Alternative Medicine Market 2018 - 2030 (USD Million)
- 6.4.7. South Korea
- 6.4.7.1. Key Country Dynamics
- 6.4.7.2. Target Disease Prevalence
- 6.4.7.3. Competitive Scenario
- 6.4.7.4. Regulatory Framework
- 6.4.7.5. Reimbursement Scenario
- 6.4.7.6. South Korea Complementary And Alternative Medicine Market 2018 - 2030 (USD Million)
- 6.4.8. Australia
- 6.4.8.1. Key Country Dynamics
- 6.4.8.2. Target Disease Prevalence
- 6.4.8.3. Competitive Scenario
- 6.4.8.4. Regulatory Framework
- 6.4.8.5. Reimbursement Scenario
- 6.4.8.6. Australia Complementary And Alternative Medicine Market 2018 - 2030 (USD Million)
- 6.4.9. Thailand
- 6.4.9.1. Key Country Dynamics
- 6.4.9.2. Target Disease Prevalence
- 6.4.9.3. Competitive Scenario
- 6.4.9.4. Regulatory Framework
- 6.4.9.5. Reimbursement Scenario
- 6.4.9.6. Thailand Complementary And Alternative Medicine Market 2018 - 2030 (USD Million)
- 6.5. Latin America
- 6.5.1. SWOT Analysis
- 6.5.2. Latin America Complementary and Alternative Medicine Market, by Intervention, 2018 - 2030 (USD Million)
- 6.5.3. Latin America Complementary And Alternative Medicine Market, By Distribution Method, 2018 - 2030 (USD Million)
- 6.5.4. Brazil
- 6.5.4.1. Key Country Dynamics
- 6.5.4.2. Target Disease Prevalence
- 6.5.4.3. Competitive Scenario
- 6.5.4.4. Regulatory Framework
- 6.5.4.5. Reimbursement Scenario
- 6.5.4.6. Brazil Complementary And Alternative Medicine Market 2018 - 2030 (USD Million)
- 6.5.5. Mexico
- 6.5.5.1. Key Country Dynamics
- 6.5.5.2. Target Disease Prevalence
- 6.5.5.3. Competitive Scenario
- 6.5.5.4. Regulatory Framework
- 6.5.5.5. Reimbursement Scenario
- 6.5.5.6. Mexico Complementary And Alternative Medicine Market 2018 - 2030 (USD Million)
- 6.5.6. Argentina
- 6.5.6.1. Key Country Dynamics
- 6.5.6.2. Target Disease Prevalence
- 6.5.6.3. Competitive Scenario
- 6.5.6.4. Regulatory Framework
- 6.5.6.5. Reimbursement Scenario
- 6.5.6.6. Argentina Complementary And Alternative Medicine Market 2018 - 2030 (USD Million)
- 6.6. MEA
- 6.6.1. SWOT Analysis
- 6.6.2. MEA Complementary and Alternative Medicine Market, by Intervention, 2018 - 2030 (USD Million)
- 6.6.3. MEA Complementary And Alternative Medicine Market, By Distribution Method, 2018 - 2030 (USD Million)
- 6.6.4. South Africa
- 6.6.4.1. Key Country Dynamics
- 6.6.4.2. Target Disease Prevalence
- 6.6.4.3. Competitive Scenario
- 6.6.4.4. Regulatory Framework
- 6.6.4.5. Reimbursement Scenario
- 6.6.4.6. South Africa Complementary And Alternative Medicine Market 2018 - 2030 (USD Million)
- 6.6.5. Saudi Arabia
- 6.6.5.1. Key Country Dynamics
- 6.6.5.2. Target Disease Prevalence
- 6.6.5.3. Competitive Scenario
- 6.6.5.4. Regulatory Framework
- 6.6.5.5. Reimbursement Scenario
- 6.6.5.6. Saudi Arabia Complementary And Alternative Medicine Market 2018 - 2030 (USD Million)
- 6.6.6. UAE
- 6.6.6.1. Key Country Dynamics
- 6.6.6.2. Target Disease Prevalence
- 6.6.6.3. Competitive Scenario
- 6.6.6.4. Regulatory Framework
- 6.6.6.5. Reimbursement Scenario
- 6.6.6.6. UAE Complementary And Alternative Medicine Market 2018 - 2030 (USD Million)
- 6.6.7. Kuwait
- 6.6.7.1. Key Country Dynamics
- 6.6.7.2. Target Disease Prevalence
- 6.6.7.3. Competitive Scenario
- 6.6.7.4. Regulatory Framework
- 6.6.7.5. Reimbursement Scenario
- 6.6.7.6. Kuwait Complementary And Alternative Medicine Market 2018 - 2030 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Participant's overview
- 7.2. Financial performance
- 7.3. Participant categorization
- 7.3.1. Market Leaders
- 7.3.2. Complementary And Alternative Medicine Market Share Analysis, 2022
- 7.3.3. Company Profiles
- 7.3.3.1. Abbott
- 7.3.3.2. PerkinElmer, Inc
- 7.3.3.3. BioView
- 7.3.3.4. Agilent Technologies, Inc
- 7.3.3.5. Merck KGaA
- 7.3.3.6. Bio-Rad Laboratories, Inc
- 7.3.3.7. Oxford Gene Technology IP Limited
- 7.3.3.8. Leica Biosystems Nussloch GmbH
- 7.3.3.9. F. Hoffman-La Roche Limited
- 7.3.3.10. NeoGenomics Laboratories, Inc
- 7.3.3.11. Advanced Cell Diagnostics, Inc
- 7.3.4. Strategy Mapping
- 7.3.4.1. Expansion
- 7.3.4.2. Acquisition
- 7.3.4.3. Collaborations
- 7.3.4.4. Product/Service Launch
- 7.3.4.5. Partnerships
- 7.3.4.6. Others