Pune, Oct 17, 2022: Maximize Market Research has published a report on the Complementary and Alternative Medicine Market that provides a detailed analysis for the forecast period of 2022 to 2029. According to the report, the Complementary and Alternative Medicine Market size was valued at USD 97.22 Bn. in 2021 and the total market revenue is expected to grow by 17.9 percent from 2022 to 2029, reaching nearly USD 362.97 Bn.
Complementary and Alternative Medicine Market Scope:
The report provides comprehensive market insights for industry stakeholders, including an explanation of complicated market data in simple language, the industry’s history and present situation, as well as expected market size and trends. The research investigates all industry categories, with an emphasis on key companies such as market leaders, followers, and new entrants. The report includes a PESTLE analysis for each country. A thorough picture of the competitive landscape of major competitors in the Complementary and Alternative Medicine market by products and services, revenue, financial situation, portfolio, growth plans, and geographical presence makes the study an investor’s guide.
Complementary and Alternative Medicine Market Overview:
Alternative medicine has progressed greatly over time and currently comprises millennia-old therapeutic systems. Alternative medicine includes mind-body treatments, bodily manipulation, and therapies based on biological systems. Biological treatment based on natural components is the most prevalent. Alternative medicine is readily available, affordable, and, in most circumstances, non-invasive, and it is effective in the latter stages of various diseases. However, due to a lack of well-designed scientific trials, the safety and effectiveness of many alternative medicines/therapies remain uncertain.
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Complementary and Alternative Medicine Market Dynamics:
Diabetes mellitus (DM) is the most prevalent and chronic metabolic disorder. Diabetes prevalence has risen from 4.7% to 8.5% globally during the previous three decades. To regulate blood glucose levels, many new anti-diabetic drugs have been developed and made available on the market. However, when taken for a lengthy period, most drugs may cause drug resistance, drug addiction, unpleasant side effects, and so on. In addition, rising therapy costs and unhappiness with conventional medications have fueled the search for alternatives. Surprisingly, diabetes treatment ideas advocate for non-traditional therapies. Diabetes patients are treated with a combination of food and exercise, in addition to regular medications. As a result, AM has sparked a lot of attention since the advantages of AM, particularly herbal medicine, have been shown to be beneficial in diabetes prevention, treatment, and/or delayed repercussions.
Complementary and Alternative Medicine Market Regional Insights:
The increasing usage of traditional therapy procedures has the potential for aggressive growth in this decade due to public acceptance. In 2019, it was estimated that more than 60% of the world’s population utilized traditional medicine. Alternative medicine comprises using old methods of medicines, such as herbs, as well as other mind and body healing therapies that are mostly based on faith and belief. The bulk of these operations, however, lack regulatory clearance or clinical proof. Many governments and regulatory agencies have worked hard to secure clinical support for the use of alternative medicines to encourage market growth.
Complementary and Alternative Medicine Market Segmentation:
Based on Therapy Type, Complementary and Alternative Medicine Market is segmented into Traditional Alternative Medicine, Mind Healing, Body Healing, External Energy, Sensory Healing, and Others
Based on Disease, Complementary and Alternative Medicine Market is segmented into Arthritis, Cancer, Asthma, Diabetes, Cardiology, Neurology, and Others
Based on Distribution Channel, Complementary and Alternative Medicine Market is segmented into Direct Sales, E-sales, Distance Correspondence, and Other
Based on Region, Complementary and Alternative Medicine Market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America.
Complementary and Alternative Medicine Market Key Competitors:
Key players in the Complementary and Alternative Medicine market include:
- Pure Encapsulations, Inc.
- Nordic Naturals
- Herbal Hills
- Herb Pharm
- Helio USA Inc.
- Columbia Nutritional
- John Schumachers Unity Woods Yoga Center
- The Healing Company
- Quantum Touch
- Geriatric & Medical Companies, Inc.,
- Merck Sharp & Dohme Corporation
- Geri-Care pharmaceuticals
- UAS Laboratories.
- Nature’s Bounty
- Unity Woods Yoga Center
- First Natural Brands Ltd.
- Ayush Ayurveda
- Sheng Chang Pharmaceutical Company
Related Report Published by Maximize Market Research:
Key Questions answered in the Complementary and Alternative Medicine Market Report are:
- What is the competitive scenario of the Complementary and Alternative Medicine Market?
- Which are the key factors aiding the Complementary and Alternative Medicine Market growth?
- Which region is expected to hold the largest share in the Complementary and Alternative Medicine Market by 2029?
- What will be the CAGR of the Complementary and Alternative Medicine Market during the forecast period?
- Which are the prominent players in the Complementary and Alternative Medicine Market?
- What is the expected Complementary and Alternative Medicine Market size by 2029?
- Which company held the largest share in the Complementary and Alternative Medicine Market in 2021?
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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