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Increase In The Prevalence Of Chronic Diseases Driving The Complementary And Alternative Medicine Market: Major Factor in the Transformation of the Complementary And Alternative Medicine Market in 2025
Complementary And Alternative Medicine Market
The market size for complementary and alternative medicine has seen a substantial expansion in the past few years. It is set to increase from $182.31 billion in 2024 to $220.68 billion in 2025, with a compound annual growth rate (CAGR) of 21.0%. Factors such as enhanced consumer knowledge, a swell in chronic disease cases, elevated healthcare prices, discontent with traditional medicine practices and societal and cultural endorsement are driving the growth witnessed in the preceding period.
A significant surge in the size of the complementary and alternative medicine market is anticipated in the next few years, with a projection to reach $468.31 billion in 2029, reflecting a compound annual growth rate (CAGR) of 20.7%. This projected growth during the forecast period can be linked to factors such as the customization of medicine and treatments, focus on preventative healthcare and wellbeing, the extension of insurance coverages for CAM therapies, an increased appetite for organic and natural products, the role of digital health platforms, and telemedicine. Key trends expected within the forecast period include the growing popularity of telehealth consultations for CAM, prioritization of mental health and wellness, the rise of self-care and homemade remedies, adoption of health-monitoring wearable tech, and the incorporation of AI and machine learning in CAM treatment methods.
What Are the Forces Behind the Rapid Growth of the Complementary And Alternative Medicine Market?
The anticipated expansion of the complementary and alternative medicine market is linked to the rising incidence of chronic diseases. These are health problems that last over an extended period and generally do not disappear on their own. Various elements, including ageing populations, unhealthy lifestyles, environmental influences, and enhanced diagnostics for improved detection, are responsible for the rising prevalence of chronic conditions. Complementary and alternative medicine (CAM) contributes to lowering the occurrence of chronic diseases by providing alternative treatment methods, encouraging a holistic approach to health, and addressing underlying issues like stress and inflammation. For example, the Singapore Heart Foundation (SHF), a Singaporean non-profit organization, reported in May 2024 that ischemic heart diseases caused 5,302 deaths, a marginal increase compared to 5,290 deaths in 2022. As such, the escalating prevalence of chronic diseases is propelling the expansion of the complementary and alternative medicine market.
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Who Are the Major Industry Players Fueling Complementary And Alternative Medicine Market Expansion?
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
Which Key Developments Are Influencing the Complementary And Alternative Medicine Market?
Primary players and regulating bodies in the complementary and alternative medicine market are shifting their priorities towards conceptualizing avant-garde solutions including aromatherapy solutions to establish a competitive standing in the market. Aromatherapy, a derivative of complementary and alternative medicine (CAM), utilises vital oils and aromatic Plant essences to cultivate health and wellness. For instance, Adoratherapy, a US-based aromatherapy product creator, unveiled its Alkemie Chakra Healing series in December 2022. The range includes aroma perfume sprays, dry touch body oils, body lotions, and lotion candles all sharing identical fragrances. These fragrances were designed to bring about equilibrium and remedial effects utilizing key principles of aromatherapy that involve the use of essential oils as potent components.
How Is the Segmentation of the Complementary And Alternative Medicine Market Defined?
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 Is the Leading Region in the Complementary And Alternative Medicine Market?
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.
What Is Covered In The Complementary And Alternative Medicine Global Market Report?
- Market Size Analysis: Analyze the Complementary And Alternative Medicine Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Complementary And Alternative Medicine Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Complementary And Alternative Medicine Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Complementary And Alternative Medicine Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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