How Will the Complementary And Alternative Medicine Market Grow? Key Trends and Opportunities for 2025 and Beyond
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How has the complementary and alternative medicine market grown over the years?
The complementary and alternative medicine market has seen rapid growth in recent years. It is expected to grow from $182.31 billion in 2024 to $220.68 billion in 2025, reflecting a compound annual growth rate (CAGR) of 21.0%. This growth is largely driven by increased consumer awareness, a rise in chronic diseases, escalating healthcare costs, dissatisfaction with traditional medicine, and greater societal and cultural acceptance of alternative treatments.
What Is the forecasted market size and growth rate for the complementary and alternative medicine market?
The complementary and alternative medicine market is expected to grow to $468.31 billion by 2029, with a CAGR of 20.7%. This growth is attributed to personalized medicine, preventive healthcare focus, expanded insurance coverage, demand for natural products, and the rise of digital health platforms. Trends include telehealth consultations, mental health emphasis, DIY remedies, wearable health tech adoption, and AI/ML integration in CAM treatments.
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What are the major factors driving growth in the complementary and alternative medicine market?
The growing prevalence of chronic diseases is expected to drive the complementary and alternative medicine market. Chronic diseases, which are long-term health conditions, are increasing due to factors like aging populations and unhealthy lifestyles. Complementary and alternative medicine (CAM) offers holistic treatments to manage these diseases. For instance, in May 2024, the Singapore Heart Foundation (SHF) reported a slight increase in deaths due to ischemic heart diseases, highlighting the rising prevalence of chronic diseases and the growth of CAM.
What key areas define the segmentation of the global complementary and alternative medicine Market?
The complementary and alternative medicine market covered in this report is segmented –
1) By Type: Alternative Medical Systems, Mind-Body Interventions, Biologically Based Therapies, Manipulative And Body-Based Methods, Energy Therapies, Other Types
2) By Disease Indication: Arthritis, Asthma, Cancer, Diabetes, Cardiology, Neurology, Other Disease Indications
3) By Application: E-training, Direct Contact, Distance Correspondence
4) By End-Users: Hospitals, Specialty Clinics, Therapy Centers, Other End-Users
Subsegments:
1) By Alternative Medical Systems: Traditional Chinese Medicine (TCM), Ayurveda, Naturopathy, Homeopathy, Native American Medicine, Unani Medicine
2) By Mind-Body Interventions: Meditation, Yoga And Tai Chi, Cognitive Behavioral Therapy (CBT), Hypnotherapy, Biofeedback
3) By Biologically Based Therapies: Herbal Medicine, Dietary Supplements, Functional Foods, Probiotics, Vitamins And Minerals, Aromatherapy
4) By Manipulative And Body-Based Methods: Chiropractic Care, Massage Therapy, Osteopathic Manipulative Therapy, Acupressure, Reflexology
5) By Energy Therapies: Reiki, Therapeutic Touch, Acupuncture, Qigong, Healing Touch
6) By Other Types: Aromatherapy, Light Therapy, Music Therapy, Art Therapy, Crystal Healing
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What are the top market players propelling the growth of the complementary and alternative medicine industry?
Major companies operating in the complementary and alternative medicine market are Bikram Yoga, ARKOPHARMA Laboratories Company Limited, Aboca SpA, Boiron USA, Laboratorios Funat, Nordic Nutraceuticals, Dabur India Ltd., Nordic Naturals, UAS Laboratories, A.Vogel Ltd., Quantum-Touch, Herb Pharm LLC, Creative Biolabs, Nature’s Bounty, Baidyanath Group, SKM Siddha and Ayurvedha Company Ltd., Weleda AG, Afriplex, Herbal Hills, Arya Vaidya Pharmacy, Edizioni Riza spa, Vaidyaratnam Oushadhasala Pvt. Ltd., Nutritional Wellness Center, PEKANA Naturheilmittel GmbH, Himalaya Global Holdings Ltd. (Himalaya Herbal Healthcare), Geriatric & Medical Companies Inc., Naturoveda Health World, Alternative Medicine Institute, e-Therapeutics plc
What are the key trends shaping the future of the complementary and alternative medicine market?
Companies and authorities in the complementary and alternative medicine market are developing advanced solutions like aromatherapy products to enhance market competitiveness. In December 2022, Adoratherapy launched the Alkemie Chakra Healing collection, which uses essential oils to balance and heal the body, promoting well-being through aromatherapy principles.
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What regions are dominating the complementary and alternative medicine market growth?
North America was the largest region in the complementary and alternative medicine market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the complementary and alternative medicine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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