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Complementary and Alternative Medicine (CAM) Market Size Worth USD 445.1 billion by 2030: CAGR: 21%

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The global complementary and alternative medicine (CAM) market size was US$ 96.2 billion in 2020. The global complementary and alternative medicine (CAM) market is forecast to grow to US$ 445.1 billion by 2030, registering a compound annual growth rate (CAGR) of 21% during the forecast period from 2022 to 2030. 

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Factors Influencing

  • The unhealthy lifestyle and problem associated with that is the primary factor contributing to the growth of the global complementary and alternative medicine (CAM) market.
  • The increasing geriatric population is fueling the demand for complementary and alternative medicines.
  • Increasing cases of chronic disease is another prominent factor contributing to the growth of the global complementary and alternative medicines (CAM) market. Moreover, the increasing cases of stress, anxiety, and other disorders are forecast to benefit the companies in the global complementary and alternative medicines market.
  • Government initiatives to boost the healthcare infrastructure and rising healthcare expenditure would create potential scope for market growth.
  • Lack of awareness about alternative medicine may hamper the growth of the global complementary and alternative medicines market.

Geographic Analysis

Europe is forecast to witness maximum growth in the global complementary and alternative medicines (CAM) market, majorly due to the increasing demand for botanicals in various dietary supplements. Prominent countries, such as France and Germany, are forecast to hold the major share in the regional market. Furthermore, technological advancements and favorable healthcare expenditure are forecast to contribute to the growth of the global complementary and alternative medicine (CAM) market.

Moreover, the Asia Pacific region would contribute with the highest CAGR in the global complementary and alternative medicines market, mainly due to the rising awareness related to the benefits of healthy diet. Moreover, increasing population, and government initiatives to enhance healthcare infrastructure would further contribute to the market growth in the region.

COVID-19 Impact Analysis

Medicinal plants, all across the world, witnessed a booming demand for effective treatment for COVID-19. Thus, it fueled the growth of the global complementary and alternative medicine (CAM) market. In addition, increasing funding and growing awareness about healthcare would further benefit the market players in the global complementary and alternative medicine (CAM) market.

Competitors in The Market

  • Columbia Nutritional
  • Nordic Nutraceuticals
  • Ramamani Iyengar Memorial Yoga Institute
  • The Healing Company Ltd.
  • John Schumacher Unity Woods Yoga Centre
  • Sheng Chang Pharmaceutical Company
  • Pure encapsulations, LLC.
  • Herb Pharm
  • AYUSH Ayurvedic Pte Ltd.
  • Other prominent players

Market Segmentation

Intervention Outlook

  • Traditional Alternative Medicine/Botanicals
    • Ayurveda
    • Apitherapy
    • Bach Flower Therapy
    • Naturopathic Medicine
    • Traditional Chinese Medicine
    • Traditional Korean Medicine
    • Traditional Japanese Medicine
    • Traditional Mongolian Medicine
    • Traditional Tibetan Medicine
    • Zang Fu Theory
  • Mind Healing
    • Autosuggestion
    • Hypnotherapy
    • Neuro-linguistic Programming
    • Self-hypnosis
    • Spiritual Mind Treatment
    • Transcendental Meditation
  • Body Healing
    • Acupressure
    • Acupuncture
    • Alexander Technique
    • Auriculotherapy
    • Autogenic Training
    • Chiropractic
    • Cupping Therapy
    • Kinesiology
    • Osteomyology
    • Osteopathy
    • Pilates
    • Qigong
    • Reflexology
    • Yoga
  • External Energy
    • Magnetic Therapy
    • Bio-magnetic Therapy
    • Magnetic Resonance Therapy
    • Radionics
    • Reiki
    • Therapeutic Touch
    • Chakra Healing
  • Sensory Healing
    • Aromatherapy
    • Music therapy
    • Sonopuncture
    • Sound Therapy

Distribution Method Outlook

  • Direct Sales
  • E-sales
  • Distance Correspondence

Regional Outlook

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • Western Europe
      • The UK
      • Germany
      • France
      • Italy
      • Spain
      • Rest of Western Europe
    • Eastern Europe
      • Poland
      • Russia
      • Rest of Eastern Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia & New Zealand
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of MEA
  • South America
    • Brazil
    • Argentina
    • Rest of South America

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Updated : 2022-05-21 23:01 GMT+08:00