How is Unhealthy Lifestyle of People Driving Complementary and Alternative Medicines Market? Key Players are Cipla, Dabur India Limited, Novartis, Weleda AG, AmeriCare Physical Therapy, doTERRA International LLC, Mountain Rose Herbs, Rocky Mountain Oils,

The increase in the use of traditional therapies and medicines, surging geriatric population, side-effects of allopathic medicines, and increasing awareness about alternative medicines are the positive influencers of the complementary and alternative medicines market. It valued $192.0 billion in 2018, and it is expected to reach $271.8 billion by 2024, advancing at a 6.0% CAGR during the forecast period (2019-2024). Remedies or treatments that are used instead of conventional allopathic treatments are termed as complementary and alternative medicines (CAM). Reiki, Ayurveda, homeopathy, chiropractic, and yoga are types of CAM.

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Complementary and Alternative Medicines Market Competitive Landscape:

The global complementary and alternative medicines market is fragmented in nature. Cipla Limited, Boiron, Dabur India Ltd., Novartis AG, Weleda AG, Arya Vaidya Pharmacy, Pekana-Naturheilmittel GmbH, and Biologische Heilmittel Heel GmbH are some of the major players engaged in the CAM industry.

The growth in the complementary and alternative medicines market is due to the increasing popularity of traditional medicines among people. Many Asian countries, such as India, Japan, and China, have been practicing traditional medication systems since time immemorial for treating common ailments as well as potentially life-threatening diseases. In China, for pain management and maintaining good health, cupping, acupuncture, and qigong are practiced. For treating conditions such as cough, cold, gastrointestinal disorders, and insomnia, a large number of people use traditional medication, as reported by the World Health Organization.

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The segmentations of the complementary and alternative medicines market are region, type, mode of service, application, and end user. Based on type, the market is classified into energy-based, nature-based, manipulative body-based, and mind-body intervention-based. In 2018, a revenue share of 38.7% was held by the nature-based classification. In the forecast period, the fastest growth is also expected to be exhibited by this category, which can be attributed to the rising demand for organic and natural medicines that are safer than allopathic medication.

Complementary and Alternative Medicines Market Key players are:

1- Cipla
2- Full Motion Physical Therapy, LLC
3- Dabur India Limited
4- Novartis
5- Weleda AG
6- AmeriCare Physical Therapy
7- doTERRA International LLC
8- Mountain Rose Herbs
9- Rocky Mountain Oils
10- SEIRIN CORPORATION
11- schwa-medico GmbH

The CAM market players can explore the potential of natural resources, which are abundantly present, to generate high revenues. Alternative medicines are mostly derived from plants, mud, water, and other natural components. India and China are the world's biggest exporters of medicinal herbs, and these two countries together account for the highest number of medicinal herbs, which can be taken advantage of by the market players. Further, Tai chi, yoga, and qigong therapies can be provided to people without investing in any kind of raw materials and yet can be a major avenue to generate revenue.

Therefore, the market for CAM is headed toward prosperity in the forecast period owing to the increasing awareness regarding the benefits of traditional medication and therapies over allopathic treatments.

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COMPLEMENTARY AND ALTERNATIVE MEDICINES MARKET SEGMENTATION
Market Segmentation by Type
o Nature-Based
o Ayurveda
o Homeopathic
o Mud therapy
o Others
o Mind-Body Intervention-Based
o Yoga, meditation, tai chi, and qigong
o Biofeedback
o Guided imagery
o Hypnosis
o Others
o Manipulative Body-Based
o Chiropractic
o Physiotherapy
o Massage
o Acupuncture
o Others
o Energy-Based
o Reiki
o Electromagnetic therapy
o Others
Market Segmentation by Application
o Depression and Anxiety
o Pain Management
o Chronic Diseases
o Neurological Disorders
o Infertility
o Skin Disorders
o Weight Loss
o Others
Market Segmentation by Mode of Service
o Therapy Classes
o Direct Consultation
o E-Learning
Market Segmentation by End User
o Yoga and Meditation Centers
o Therapy Centers
o Home Care
o Hospitals and Clinics
o Others

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