Complementary and Alternative Medicine Market to Experience Substantial Growth of USD 477.29 Billion by 2029, Size, Share, Growth Rate, Demand, Opportunities and Competitive Landscape
NEW YORK, Dec. 22, 2022 /PRNewswire/ -- Data Bridge Market Research has recently published a Report, titled, "Complementary and Alternative Medicine Market" The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This Complementary and Alternative Medicine report proves to be a finest and excellent market report as it is generated with the myriad of critical factors. To put marketplace clearly into the focus, most up to date market insights and analysis has been offered via this report. The market data presented in the report helps to recognize different market opportunities present internationally. Complementary and Alternative Medicine report is also useful when launching a new product or expanding the business regionally or globally. Moreover, it considers both qualitative and quantitative techniques of market analysis where focus groups or in-depth interviews and customer survey or analysis of secondary data has been carried out respectively.
Data Bridge Market Research analyses that the complementary and alternative medicine market was valued at USD 100.04 billion in 2021 and is expected to reach USD 477.29 billion by 2029, registering a CAGR of 21.57% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Market Overview:
Medical products and practices that are not considered a part of traditional or mainstream medical therapy are referred to as complementary and alternative medicine (CAM). It combines self-administered items and activities, including homoeopathic remedies, herbal medications, dietary supplements, yoga, chiropractic, acupuncture, and massage therapy. Manipulative and body-based therapies, biofield therapy, and entire medical systems are all included.
In recent years, the complementary and alternative medicine market is anticipated to grow rapidly during the forecast period. Approximately two-thirds of the population in most industrialized and developing nations has reported using alternative or complementary medicine. Several countries are moving toward the legalisation of alternative medicine and therapies that are substantiated by clinical evidence. Complementary and alternative therapies are utilized to treat chronic illnesses, long-term discomfort, and supplementary vitamins and food supplementation in addition to a conventional diet.
Opportunities for Players:
- Increase in the number of research and development activities
Moreover, the market's growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the complementary and alternative medicine market growth. Along with this, rising drug approvals and launches will further propel the market's growth rate.
- Rising number of strategic collaborations
The market has grown substantially as a result of new product introductions in response to increased demand for treatments and continual innovation. For instance, Optum had purchased DaVita Medical Group in 2019. This purchase is towards the development of Novel therapies that children may administer and that can assist physicians, health professionals, physical therapists, and chiropractors. Furthermore, nearly two-thirds of the population in most industrialized and developing nations reported utilizing some type of alternative or complementary treatment as of early 2016.
Moreover, rising investment for the development of advanced technologies and an increase in the number of emerging markets will provide beneficial opportunities for the complementary and alternative medicine market growth during the forecast period.
Some of the major players operating in the Complementary and Alternative Medicine market are:
- Nordic Naturals (US)
- Nature's Bounty (US)
- Unity Woods Yoga Center (US)
- Columbia Nutritional (US)
- First Natural Brands Ltd. (UK)
- Ayush Ayurveda (India)
- Pure Encapsulations, LLC. (US)
- Quantum-Touch (US)
- Herb Pharm, LLC (US)
- Helio USA Inc. (US)
- Nestlé S.A. (Switzerland)
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The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios of the top players in the Complementary and Alternative Medicine market
Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Complementary and Alternative Medicine Market
Market Dynamics: Complementary and Alternative Medicine Market
- Increasing prevalence of chronic diseases
The rising prevalence of chronic diseases such as cancer is estimated to enhance the growth rate of the complementary and alternative medicine market. Complementary and alternative medicine (CAM) is majorly used in the treatment of cancer and also improves the common side effects such as pain, nausea and fatigue.
- Increasing investment for healthcare infrastructure
Another significant factor influencing the growth rate of complementary and alternative medicine market is the rising healthcare expenditure which helps in improving its infrastructure. Also, various government organizations aims to improve the healthcare infrastructure by increasing funding and this will further influence the market dynamics.
Furthermore, rising initiatives by public and private organizations to spread awareness will expand the complementary and alternative medicine market. Additionally, changing lifestyle of people and rising geriatric population will result in the expansion of complementary and alternative medicine market.
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- This study offers the latest product news, trends, and updates from the industry's leading players who have leveraged their market position.
- It also offers strategic plans and standards to arrive at informed business decisions adopted by the main players, thereby advocating your go to market strategies.
- In addition, it offers insights into the dynamics of customer behaviour that can help the organization better curate market strategies
- Usage of exclusive tailor-made tools along with primary research, secondary research and our in-house data model helps us in extracting the exact market numbers
- Mapping the customer in 3P grid comprising of Purpose, Planning and Positioning, thereby delivering a solution by keeping the prospecting client at the sweet spot
- The market research report includes all of the market's valuable elements, such as sales growth, product pricing & analysis, growth opportunities, and recommendations for addressing market challenges
- The report covers all the primary mergers & acquisitions, alliances, and collaborations that have generated additional opportunities for market players or in some cases, challenges
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Key Industry Segmentation: Complementary and Alternative Medicine Market
Type
- Alternative Medical Systems
- Mind-Body Interventions
- Biologically Based Therapies
- Manipulative and Body-Based Methods
- Energy Therapies
- Others
Disease Indication
- Arthritis
- Asthma
- Cancer
- Diabetes
- Cardiology
- Neurology
End-Users
- Hospitals
- Specialty Clinics
- Therapy Centers
Distribution Channel
- Hospitals
- Special Clinics/Centers
- Direct Contact
- E-Training
Regional Analysis/Insights: Complementary and Alternative Medicine Market
The countries covered in the Complementary and alternative medicine market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
North America dominates the complementary and alternative medicine market because of the growing population with serious disorders and rising healthcare expenditure, which will further propel the market's growth rate in this region. Additionally, growing presence of skilled professionals will further influence the market's growth rate in this region
Asia-Pacific are expected to grow during the forecast period due to surging use of health supplements and easily availability of herbal supplements in this region. Also, development of healthcare infrastructure will further propel the market's growth rate in this region.
Table of Contents:
1. Introduction
2. Market Segmentation
3. Executive Summary
4. Premium Insights
5. Global Complementary and Alternative Medicine Market: Regulations
6. Market Overview
7. Global Complementary and Alternative Medicine Market, By Type
8. Global Complementary and Alternative Medicine Market, By Disease Indication
9. Global Complementary and Alternative Medicine Market, By End User
10. Global Complementary and Alternative Medicine Market, By Distribution Channel
11. Global Complementary and Alternative Medicine Market, By Region
12. Global Complementary and Alternative Medicine Market: Company Landscape
13. SWOT Analyses
14. Company Profile
15. Questionnaires
16. Related Reports
To Check the Complete Table of contents, click here @ https://www.databridgemarketresearch.com/toc/?dbmr=global-complementary-and-alternative-medicine-market
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