The global complementary and alternative medicine market size is expected to around USD 199.2 billion by 2026, the market is projected to grow with 19% CAGR during the forecast time period.
The market is driven by government initiatives in numerous nations to augment the reach of these medicines.
|Market||Complementary and Alternative Medicine Market|
|Analysis Period||2018 - 2026|
|Forecast Data||2018 - 2026|
|Segments Covered||By Intervention, By Distribution method and By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Pure Encapsulations, Inc., Columbia Nutritional Inc., Nordic Naturals, Herbal Hills, Herb Pharm, Deepure Plus, and Helio USA Inc.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
With considerableincrease in costs of conventional medicine and preference towards body wellness rather than pharmaceutical treatment is estimated to strengthen the development of the global complementary and alternative medicine market over the forecast timeframe.
Another reason for the development of global complementary and alternative medicine market is increase in acceptance rates of herbal dietary supplements and other wellness therapies for instance, as acupuncture and yoga. Also, Botanicals segment have developed as the most noticeable form of alternative medicines and are anticipated to hold largest share throughout the forecast timeframe.
Market By Intervention
Market By Distribution Method
Market By Geography
With rapid development in the medical infrastructure and growing investments in health and wellness, the Middle East is projected to become a hub and the fastest growing region in this market. The usage and adoption of complementary and alternative medicine across the region is poised to experience considerable upswing.
In 2018, Europe captures the largest share in the complementary and alternative medicine market owing to extensive use of botanicals such as dietary supplements in countries such as Germany and France. On the other hand, with booming medical tourism, expensive conventional medicines, and being the origin of several medical techniques, Asia Pacific complementary and alternative medicine market is slated to witness noteworthy growth during the forecast period.
Progressions and inventions in therapies for instance magnetic interventions and acupuncture are projected to drive the growth of the market. Initiatives such as government of India promote an initiative named Ministry of AYUSH. The objective of this initiative is to promote alternative medicinal therapies are expected to bolster the development of the global complementary and alternative medicine market. The key players catering to the global complementary and alternative medicine market are Pure Encapsulations, Inc., Columbia Nutritional Inc., Nordic Naturals, Herbal Hills, Herb Pharm, Deepure Plus, and Helio USA Inc. There are numerous wellness institutes, such as Quantum Touch Inc., Iyengar Yoga Institute, The Healing Company, John Schumacher’s Unity Woods Yoga Center, and Yoga Tree. Intervention revolution and tie-ups with other companies are to remain major strategies of producers to be in the competitive.