According to IMARC Group’s latest report, titled “Complementary and Alternative Medicine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, The global complementary and alternative medicine market exhibited strong growth during 2015-2020. Complementary and alternative medicine (CAM) includes numerous medical products and practices that are usually not a part of conventional or standard medical treatment. It primarily comprises of self-administered products and activities, such as herbal medicines, dietary supplements, homeopathic remedies, and yoga, with chiropractic care, acupuncture, and massage therapy. CAM also includes manipulative and body-based practices, whole medical systems, and biofield therapy. Currently, CAM is extensively used to treat cancer by alleviating common side effects of chemotherapy, such as pain, fatigue, and nausea.
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The increasing consumer preferences towards natural products and gentle therapies are primarily augmenting the global market for complementary and alternative medicines. Additionally, the growing incidences of numerous chronic ailments are also driving the demand for CAM for disease diagnosis and prevention. Moreover, numerous health insurance companies are offering CAM coverage in their medical plans, thereby further propelling the market growth. Due to the sudden outbreak of the COVID-19 pandemic, there is a rising inclination towards natural or alternative medicines to treat coronavirus infection.
Competitive Landscape with Key Players:
- Ayush Ayurvedic Pte Ltd.
- Columbia Nutritional LLC
- Helio USA Inc.
- Herb Pharm LLC
- Herbal Hills
- Nature’s Bounty
- Nordic Naturals
- Pure Encapsulations LLC (Nestlé S.A.)
- The Healing Company Ltd.
- Unity Woods Yoga Center
Complementary and Alternative Medicine Market Segmentation:
Breakup by Type:
- Traditional Alternative Medicine Therapy
- Body Therapy
- Diet and Herbs Based Therapy
- Energy Healing Therapy
- Mind Therapy
Breakup by Disease Indications:
Breakup by Distribution Channel:
- Special Clinics/Centres
- Distance Correspondence
- Direct Sales
- Online Sales
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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