Complementary and Alternative Medicine Market Size, Share, And Growth Report 2032

Complementary and Alternative Medicine Market: Size

The global Complementary and Alternative Medicine Market size was worth around USD 155.81 billion in 2023 and is predicted to grow to around USD 899.02 billion by 2032 with a compound annual growth rate (CAGR) of roughly 21.5% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD billion). The report covers a forecast and an analysis of the Complementary and Alternative Medicine Market on a global and regional level.

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Complementary and Alternative Medicine Market: Overview

Complementary and alternative medicines (CAM) are medical practices and products that usually are not part of typical medical care. The treatments that are not considered standard treatments but are used along with standard or typical medical treatments are referred as complementary medicine. The medicines that are used as alternative to standard practice/medicine are referred alternative medicine. CAM therapies include a wide range of nutritional and botanicals products such as vitamins, herbal supplements, dietary supplements etc.

Complementary and alternative medicines market is driven by growing adoption rate of natural remedies such as herbal supplements and wellness therapies like acupuncture, yoga etc. Also, considerable low prices of complementary and alternative medicines over standard treatment and growing shift towards natural healing and wellness instead of pharmaceutical therapy is expected to drive the demand for complementary and alternative medicines. However, poor understanding and lack of scientific results of complementary and alternative medicines may act as restraint for market growth. Emerging as well as developed markets are expected to open new avenues for complementary and alternative medicines market.

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Complementary and Alternative Medicine Market: Segmentation

The study includes a strategic view on the complementary and alternative medicine by segmenting the market based on distribution channel, intervention, and region. All the segments of complementary and alternative medicine market have been evaluated based on present demand and future trends and the market is predicted from 2024 to 2032.

Based on intervention, global complementary and alternative medicine market is bifurcated into botanicals, acupuncture, body, mind, & yoga and magnetic intervention. Botanicals intervention segment is sub segmented into Ayurveda, homeopathy and naturopathy. Body, mind, and yoga segment are sub categorized into meditation, yoga, chakra healing, energy healing and hypnotherapy. Botanicals segment dominated the complementary and alternative medicines market in 2023 owing to their increasing adoption rate.

The distribution channel segment is divided into e-training, direct contact, and distance correspondence. Direct contact segment dominated the market in 2023 whereas e-training segment is projected to witness highest CAGR over the forecast period as it is easy, time saving and convenient method of distribution.

Complementary and Alternative Medicine Market: Report Scope

Complementary and Alternative Medicine Market: Regional Analysis

The estimated and projected demand for regions such as North America, Middle East & Africa, Latin America Asia Pacific, and Europe is covered for complementary and alternative medicine market with further split into major countries such as U.S., France, China, UK, Germany, Japan, Brazil, India among others is included in the report.

Complementary and Alternative Medicine Market: Competitive Players

Major players included in the report are:

• Herb Pharm
• Herbal Hills
• Columbia Nutritional Inc.
• Deepure Plus
• Helio USA Inc.
• Pure encapsulations, Inc.
• Nordic Naturals
• John Schumacher’s Unity Woods Yoga Center
• Iyengar Yoga Institute
• The Healing Company
• Yoga Tree
• Quantum Touch Inc. among others.

The Global Complementary and Alternative Medicine Market is segmented as follows:

Global Complementary and Alternative Medicine Market: By Intervention

• Botanicals
  • Ayurveda
  • Naturopathy
  • Homeopathy
• Acupuncture
• Body, Mind, and Yoga
  • Yoga
  • Meditation
  • Energy Healing
  • Chakra Healing
  • Hypnotherapy
• Magnetic Intervention

Global Complementary and Alternative Medicine Market: By Distribution Channel

• Direct Contact
• E-training
• Distance Correspondence

Global Complementary and Alternative Medicine Market: By Region

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa