According to the latest report from the IMARC group, entitled “Complementary & Alternative Medicine Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2021-2026“The global market for complementary and alternative medicine showed strong growth in the period 2015-2020. Complementary and alternative medicine (CAM) encompasses numerous medical products and practices that are usually not part of conventional or conventional medical treatment. It mainly includes self-administered products and activities such as herbal medicines, nutritional supplements, homeopathic remedies, and yoga with chiropractic, acupuncture, and massage therapy. CAM also encompasses manipulative and body-based practices, entire medical systems, and biofield therapy. Currently, CAM is widely used to treat cancer by relieving 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 increasing the global market for complementary and alternative medicine in particular. In addition, the increasing incidence of numerous chronic diseases is also driving the demand for CAM for disease diagnosis and prevention. In addition, numerous health insurances offer CAM coverage in their health insurances, thus driving the market growth further. Due to the sudden outbreak of the COVID-19 pandemic, there is an increasing propensity for natural or alternative drugs to treat coronavirus infection. Looking ahead, the IMARC Group expects the global complementary and alternative medicine market to grow at a CAGR of around 15% in the forecast period (2021-2026).
As the novel coronavirus (COVID-19) crisis hits the world, we continuously track changes in markets and consumer industry behavior around the world, and our estimates of the latest market trends and forecasts are made after taking into account the impact of this pandemic.
Competitive landscape with main players:
- Ayush Ayurveda Pte Ltd.
- Columbia Nutritional LLC
- Helio USA Inc.
- Herb Pharm LLC
- Herb hill
- Nature’s premium
- Nordic naturals
- Pure Encapsulations LLC (Nestlé SA)
- Quantum touch
- The Healing Society Ltd.
- Unity Woods Yoga Center
Complementary and alternative medicine market Segmentation:
Distribution by type:
- Traditional alternative medicine therapy
- Body therapy
- Diet and herbal therapy
- Energy healing therapy
- Mind therapy
Distribution according to disease indications:
Distribution according to sales channel:
- Specialty clinics / centers
- Distance correspondence
- Direct sales
- Online sales
Distribution according to regions:
- North America (USA, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, Great Britain, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa.
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Main highlights of the report:
- Market performance (2015-2020)
- Market Outlook (2021-2026)
- Market trends
- Market drivers and success factors
- The effects of COVID-19 on the world market
- Analysis of the value chain
- Structure of the world market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently included in the scope of the report, we will provide it to you as part of the customization.
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