Complementary And Alternative Medicine Market Size, Growth, Trends | Report 2023-2032
The global complementary and alternative medicine market was valued at USD 117.21 billion in 2022 and it is predicted to surpass around USD 1100.37 billion by 2032 with a CAGR of 25.1% from 2023 to 2032.
Key Pointers
| Report Coverage | Details |
| Market Size in 2022 | USD 117.21 billion |
| Revenue Forecast by 2032 | USD 1100.37 billion |
| Growth rate from 2023 to 2032 | CAGR of 25.1% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Covered | 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. |
The market is expected to gain traction in the coming years as a result of the changing regulatory landscape and robust regulatory reforms, resulting in the development of strong transnational partnerships among countries across the globe for collective initiatives regarding alternative medicine followed by its adoption and growth.
Furthermore, government activities examining rules connected to the right to health in all of its manifestations are planned to enhance service providers' and users' participation in the field of alternative & complementary healthcare. Government initiatives have a significant role in driving demand for integrative healthcare and complementary medical practices by increasing targeted spending, establishing government facilities, and issuing guidelines to assure the use of complementary & alternative medicine (CAM).
Regulatory organizations are also working on the development of medical tourism, which attracts people from all over the world and allows them to seek world-class alternative medical care. For example, in several areas, Indian regulatory authorities have made major investments in the creation and standardization of alternative medical services. In India, a government entity known as the "Ministry of Ayush" has been established to oversee education, product creation, research, and other services related to yoga, ayurveda, homeopathy, and naturopathy.
Furthermore, research into the utilization of traditional medications for the treatment of COVID-19 patients is expected to increase the pace in the future years. Government officials around the world are eager to promote traditional approaches for the management of COVID-19 patients; nonetheless, it is critical to adhere to the customary research standards established for all other drug candidates.
This trend has evolved notably as a result of scientific studies based on the capability of diverse medicinal plants to provide efficient treatment to COVID-19 persons, which is predicted to have a beneficial impact on global market growth. A lack of clinical data to back up natural medicine practitioners' claims has risen as a barrier for alternative medicine professionals. Strong funding for clinical research along similar lines, on the other hand, is projected to overcome this constraint in the near future.
Regional Insights
In terms of region, Europe has the largest market for complementary & alternative medicine. The U.K. dominates the complementary & alternative medicine industry in Europe. In the region, a large number of hospitals and medical institutions provide complementary and alternative treatments. Norway is developing faster than the rest of Europe in the complementary & alternative medicine sector. In addition, acupuncture is a supplementary and alternative therapy that is gaining popularity throughout Europe. As a result, the region's complementary & alternative medicine market is likely to expand in the near future.
Asia Pacific is expected to grow at a lucrative rate during the forecasted period. The increased demand for herbal supplements is driving the expansion of the complementary & alternative medicine industry in Asia-pacific. This region remains abundant in medicinal plants. As a result, the complementary & alternative medicine market in Asia-pacific is expected to grow throughout the forecast period.
Complementary And Alternative Medicine Market Segmentations:
By Intervention
By Distribution Method
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Complementary And Alternative Medicine Market
5.1. COVID-19 Landscape: Complementary And Alternative Medicine Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Complementary And Alternative Medicine Market, By Intervention
8.1. Complementary And Alternative Medicine Market, by Intervention, 2023-2032
8.1.1. Traditional Alternative Medicine/Botanicals
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Mind Healing
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Body Healing
8.1.3.1. Market Revenue and Forecast (2020-2032)
8.1.4. External Energy
8.1.4.1. Market Revenue and Forecast (2020-2032)
8.1.5. Sensory Healing
8.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Complementary And Alternative Medicine Market, By Distribution Method
9.1. Complementary And Alternative Medicine Market, by Distribution Method, 2023-2032
9.1.1. Direct Sales
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. E-sales
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Distance Correspondence
9.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Complementary And Alternative Medicine Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Intervention (2020-2032)
10.1.2. Market Revenue and Forecast, by Distribution Method (2020-2032)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Intervention (2020-2032)
10.1.3.2. Market Revenue and Forecast, by Distribution Method (2020-2032)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Intervention (2020-2032)
10.1.4.2. Market Revenue and Forecast, by Distribution Method (2020-2032)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Intervention (2020-2032)
10.2.2. Market Revenue and Forecast, by Distribution Method (2020-2032)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Intervention (2020-2032)
10.2.3.2. Market Revenue and Forecast, by Distribution Method (2020-2032)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Intervention (2020-2032)
10.2.4.2. Market Revenue and Forecast, by Distribution Method (2020-2032)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Intervention (2020-2032)
10.2.5.2. Market Revenue and Forecast, by Distribution Method (2020-2032)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Intervention (2020-2032)
10.2.6.2. Market Revenue and Forecast, by Distribution Method (2020-2032)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Intervention (2020-2032)
10.3.2. Market Revenue and Forecast, by Distribution Method (2020-2032)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Intervention (2020-2032)
10.3.3.2. Market Revenue and Forecast, by Distribution Method (2020-2032)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Intervention (2020-2032)
10.3.4.2. Market Revenue and Forecast, by Distribution Method (2020-2032)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Intervention (2020-2032)
10.3.5.2. Market Revenue and Forecast, by Distribution Method (2020-2032)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Intervention (2020-2032)
10.3.6.2. Market Revenue and Forecast, by Distribution Method (2020-2032)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Intervention (2020-2032)
10.4.2. Market Revenue and Forecast, by Distribution Method (2020-2032)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Intervention (2020-2032)
10.4.3.2. Market Revenue and Forecast, by Distribution Method (2020-2032)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Intervention (2020-2032)
10.4.4.2. Market Revenue and Forecast, by Distribution Method (2020-2032)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Intervention (2020-2032)
10.4.5.2. Market Revenue and Forecast, by Distribution Method (2020-2032)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Intervention (2020-2032)
10.4.6.2. Market Revenue and Forecast, by Distribution Method (2020-2032)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Intervention (2020-2032)
10.5.2. Market Revenue and Forecast, by Distribution Method (2020-2032)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Intervention (2020-2032)
10.5.3.2. Market Revenue and Forecast, by Distribution Method (2020-2032)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Intervention (2020-2032)
10.5.4.2. Market Revenue and Forecast, by Distribution Method (2020-2032)
Chapter 11. Company Profiles
11.1. Columbia Nutritional
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Nordic Nutraceuticals
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Ramamani Iyengar Memorial Yoga Institute
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. The Healing Company Ltd.
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. LTE Scientific
11.5. John Schumacher Unity Woods Yoga Centre
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Sheng Chang Pharmaceutical Company
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Pure encapsulations, LLC.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Herb Pharm
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. AYUSH Ayurvedic Pte Ltd.
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers