Global Complementary and Alternative Medicines Industry to 2027 – Featuring Herbal Hills, Nature's Bounty and Nordic Naturals, among others – ResearchAndMarkets.com |  corporate finance

DUBLIN–(BUSINESS WIRE)–Aug. June 2022–

The global complementary and alternative medicine market reached US$100.04 billion in 2021. Looking ahead, the market is forecast to reach $315.5 billion by 2027, at a CAGR of 20.8% over 2022-2027.

  • Ayush Ayurveda Pte Ltd.
  • Columbia Nutritional LLC
  • Helio USA Inc.
  • Herb Pharm LLC
  • herb mound
  • Nature’s bounty
  • Nordic nature people
  • Pure Encapsulations LLC (Nestlé SA)
  • Quantum Touch
  • The Heilgesellschaft GmbH
  • Unity Woods Yoga Center

Taking into account the uncertainties of COVID-19, the analyst continuously tracks and assesses the direct and indirect impact of the pandemic. These insights are included in the report as a key market contribution.

Complementary and Alternative Medicine (CAM) refers to medical products and practices that are not considered part of conventional or standard medical care. It includes a combination of self-administered products and activities such as herbal medicine, homeopathic remedies, dietary supplements and yoga with chiropractic, massage therapy and acupuncture. It also includes manipulative and body-based practices, biofield therapy, and entire medical systems. Currently, CAM is widely used to treat cancer patients and relieve common side effects such as nausea, pain, and fatigue.

Increasing consumer preference for natural products and gentle therapies is one of the key factors driving demand for CAM worldwide. In addition, since it provides convenience and reduces patient stress, CAM is gaining widespread application in the diagnosis and prevention of various medical ailments. The increasing prevalence of chronic diseases and the growing geriatric population are having a positive impact on the market.

Additionally, due to its increasing popularity, several health insurance companies are offering CAM coverage in their health insurance plans, which contributes to the market growth. Apart from that, government agencies of numerous countries are focusing on promoting medical tourism, which is fueling the demand for CAM around the world. In addition, the need for natural or alternative medicines to treat patients suffering from coronavirus disease (COVID-19) is increasing significantly. This, in turn, is expected to encourage adoption of CAM and provide lucrative opportunities for market players to expand their reach with consumers.

Key questions answered in this report

  • How has the global market for complementary and alternative medicine developed so far and how will it develop in the coming years?
  • What is the impact of COVID-19 on the global complementary and alternative medicine market?
  • What are the main regional markets?
  • What is the market breakdown based on type?
  • How is the market segmented based on disease indications?
  • How is the market divided by sales channel?
  • What are the different stages in the industry value chain?
  • What are the key drivers and challenges in the industry?
  • How is the global Complementary and Alternative Medicine market structured and who are the key players?
  • How high is the competition in the industry?

5 Global Complementary and Alternative Medicine Market

7 Market Segmentation by Disease Indications

8 Market split by distribution channel

9 Market Split by Regions

12 Porter’s Five Forces Analysis

14.3 Profiles of Key Players

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INDUSTRY KEYWORD: ALTERNATIVE MEDICINE HEALTH

SOURCE: Research and Markets

Copyright Business Wire 2022.

PUB: 06/10/2022 06:55 / DISC: 06/10/2022 06:56

Copyright Business Wire 2022.