Complementary and Alternative Medicine Market Growth or Demand Increase or Decrease for what contains ?
The global Complementary and Alternative Medicine Market is rapidly expanding. Both developed and developing countries make extensive use of the complementary and alternative medicine market. Alternative medicine is widely available, affordable, and, in most circumstances, non-invasive, with positive outcomes in the final stages of various diseases. Another significant industry driver is government backing for initiatives. It is believed that two-thirds of the world’s population prefers alternative health care and services to modern medicine. Alternative medicine supports half of the world’s population, including the United States (42%), Australia (48%), Canada (70%), and France (49%).
The complementary and alternative medicine sector is expanding in many nations, with billions of dollars spent on the practice. Around 75% of the population in France, 42% in the United States, 86% in Egypt, and 88% in the Kingdom of Saudi Arabia use complementary and alternative medicine for primary care. Traditional healers also cure 90% of patients in Bangladesh, 85% in Myanmar, 80% in India, 75% in Nepal, 65% in Sri Lanka, and 60% in Indonesia, according to MMR Research.
Complementary and Alternative Medicine Market CAGR Estimation:
The overall market is projected to grow at a CAGR of 17.9% from 2024 to 2030.
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Complementary and Alternative Medicine Market Segmentation:
The CAM market is segmented by intervention, product, disease, and distribution channel.
By Intervention:
- Traditional Alternative Medicine/Botanicals
- Mind Healing
- Body Healing
- External Energy
Intervention, Body Healing- Massage promotes relaxation by stimulating your body’s nerve endings and pressure points. There are numerous types of massage, including shiatsu, Heller work, and reflexology. Massage therapy reduces stress and anxiety, improves mood, promotes relaxation, and controls pain, which is in high demand in the workplace. Massage after surgery promotes healing at the incision site and may prevent or reduce scarring. Foot massage also has a favourable impact on pain, nausea, and relaxation. The Complementary and Alternative Medicine Market is predicted to develop at a CAGR of 9.9%.
By Product:
- Vitamins
- Minerals
- Herbal products
- Others
By Diseases:
- Cancer
- Diabetes
- Chronic pain
- Coronary artery disease
- Others
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Complementary and Alternative Medicine Market Overview:
The Maximise Market Research report helps clients acquire a full grasp of the competitive landscape and serves as an invaluable resource for strategic planning. The thorough Complementary and Alternative Medicine Market overview provides extensive information on market size, trade statistics, key players, and a variety of industry indicators, including the life cycle, current trends, and more.
Complementary and Alternative Medicine Market Growth or Demand in which regions??
North America:
- Leads the CAM market due to a significant population with chronic disorders and high healthcare expenditure.
- In 2023, North America held the highest revenue share.
Europe:
- Expected to hold a significant revenue share during the forecast period.
- The region has seen a notable increase in demand for alternative therapies like acupuncture.
- In 2023, Europe had a market revenue share of 28.72%.
Middle East and Africa:
- Expected to experience the fastest growth from 2021 to 2028.
- Significant increase in the number of alternative medicine practitioners.
Complementary and Alternative Medicine Market Scope & Methodology:
The competitive landscape of the Complementary and Alternative Medicine market includes factors such as technological adoption, financial strength, portfolio, mergers and acquisitions, joint ventures, and strategic alliances. A comprehensive analysis examines the Complementary and Alternative Medicine Market’s drivers, constraints, opportunities, and problems. The analysis used a bottom-up approach to calculate Complementary and Alternative Medicine market estimates and growth rates.
To obtain 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 worldwide levels. Essential information about the Complementary and Alternative Medicine Market, including stakeholders, investors, and new entrants, is provided to help with the development of marketing strategy and investment plans.
The Complementary and Alternative Medicine Market was analysed using both primary and secondary data collection methodologies. Primary methods included surveys, questionnaires, and interviews with industry executives and business owners, whilst secondary data included sources such as press releases, annual and financial reports, white papers, and so on. SWOT analysis was used to identify market vulnerabilities and weaknesses, and the PORTER framework was used to assess 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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