The Alternative Cancer Treatment market to stay “Astute” Amidst Economic Slowdown
Alternative cancer treatment market is growing, this is attributed to increasing prevalence of various types of cancers such as lung cancer, breast cancer, colorectal cancer, prostate cancer, lymphoma, leukaemia, melanoma etc. Also increasing awareness regarding natural alternative and complementary therapies such as acupuncture and chiropractic therapy is expected to drive the market over the forecast period. Growing healthcare expenditure, and rising insurance coverage, aids in the revenue growth of alternative cancer treatment market. Top alternative cancer treatment include IPT – insulin potentiation therapy, iscador aka mistletoe extracts, Gerson Therapy, Ukrain™, biomagnetic therapy, biotherapeutic detoxification & drainage and others. However, less efficacy and impact of these alternative along with less coverage to cure the cancer is expected to hamper the growth of the alternative cancer treatment market over the forecast period. Individuals have started ensuing an all-natural plan and method that included vegetable juicing, probiotic foods, organic, plant-based foods, raw juices, natural and immune-boosting supplements. Other complementary methods include proteolytic enzyme therapy, budwig diet, vitamin c chelation, frankincense essential oil therapy, sunshine and vitamin D3, oxygen therapy and hyperbaric chambers, and others.
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The Alternative cancer treatment market is segment based on the therapy type, end user and application
Alternative cancer treatment market is segmented into following types:
By Therapy Type
• Hormone Therapies
• Acupuncture and Dietary Supplements
By Disease Indication
• Lung Cancer
• Breast Cancer
• Colorectal Cancer
• Prostate Cancer
By End User
• Hospitals and Clinics
• Cancer and Radiation Therapy Centers
• Home Care
Alternative cancer treatment market revenue is expected to grow at a significant rate, over the forecast period. The market is anticipated to perform well in the near future due to increasing awareness regarding various cancer types and their treatment protocols. Also the alternative cancer treatment market is expected to expand globally due increasing prevalence of cancer and increasing preference of healthcare professionals to prescribe supplements for the patients. The natural and supplemented therapies for lung cancer is anticipated to grow with a fastest CAGR over the forecast period, attributed to increasing number of smokers globally. Increasing competition among drug manufacturers, increasing investment in R&D and increasing number of new alternative therapies and dietary supplements are the major factors estimated to drive the revenue growth of alternative cancer treatment market.
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Depending on geographic region, the alternative cancer treatment market is segmented into five key regions: North America, Latin America, Europe, Asia Pacific (APAC) and Middle East & Africa (MEA).
North America is occupying the largest regional market share in the global alternative cancer treatment market owing to the presence of more number of market players, high patient awareness levels, increasing awareness about complementary therapies and marketing activities in the region. Asia Pacific is expected to grow at the fastest CAGR because of increasing prevalence of different types of cancers in the region, thus boosting the market growth of alternative cancer treatment market throughout the forecast period.
Key players of alternative cancer treatment market includes Innovative Medicine, LLC, Esperity, Northwest Natural Health Clinic, and many more. The companies in alternative cancer treatment market are increasingly engaged in strategic partnerships, collaborations, mergers and acquisitions to capture a greater pie of market share as the market is in the nascent stage.
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