Press release
Increase In The Prevalence Of Chronic Diseases Driving The Complementary And Alternative Medicine Market: Transformative Forces Shaping the Complementary And Alternative Medicine Market Landscape in 2025
Complementary And Alternative Medicine
What Will the Complementary And Alternative Medicine Industry Market Size Be by 2025?
The sector dedicated to complementary and alternative medicine has experienced considerable, rapid expansion lately, projected to jump from a valuation of $182.31 billion in 2024 to $220.11 billion by 2025, signifying a compound annual growth rate of 20.7%. This substantial upward trajectory across the past period stems from several factors, including heightened public knowledge regarding these therapies, a climbing incidence rate of long-term illnesses, escalating expenses associated with healthcare, declining contentment with standard medical treatments, and broader social and cultural embrace of these practices.
What's the Long-Term Growth Forecast for the Complementary And Alternative Medicine Market Size Through 2029?
Anticipated in the coming years is a swift expansion of the complementary and alternative medicine market, projecting a valuation of $441.71 billion by 2029, driven by a compound annual growth rate (CAGR) reaching 19.0%; this upward trajectory throughout the projection span stems from factors such as an increased focus on individualized medical approaches and customized therapies, greater attention given to proactive health maintenance and overall wellness, broader inclusion of CAM treatments within insurance policies, soaring consumer preference for naturally derived and unadulterated goods, alongside the proliferation of digital health solutions and remote medical consultations.
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What Are the Key Growth Drivers Fueling the Complementary And Alternative Medicine Market Expansion?
Projected escalation in the incidence of long-duration health ailments is anticipated to fuel the expansion of the complementary and alternative medicine sector moving ahead. These enduring medical conditions, which linger and usually do not self-correct, are becoming more common due to several contributing elements, including the aging demographic, suboptimal lifestyle choices, environmental influences, and enhanced diagnostic capabilities resulting in earlier identification. Complementary and alternative medicine (CAM) contributes to mitigating the impact of these persistent afflictions by furnishing different therapeutic avenues, championing comprehensive wellness philosophies, and targeting root causes like heightened stress and bodily inflammation. As an illustration, data released in May 2024 by the Singapore Heart Foundation (SHF), a non-profit entity based in Singapore, indicated that ischemic heart diseases caused 5,302 fatalities, marking a minor uptick from the 5,290 deaths recorded in 2022; consequently, the rising burden of chronic disease is serving as a significant impetus for the growth within the complementary and alternative medicine market.
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What Are the Key Trends Driving Complementary And Alternative Medicine Market Growth?
Leading corporations and governing bodies within the non-conventional and complementary healthcare sector are intensifying efforts toward innovating sophisticated offerings, like aromatherapy products, as a means to secure a more favorable market position. Aromatherapy itself constitutes a specialized domain within CAM, utilizing naturally derived, fragrant substances from botanicals with the aim of fostering physical and mental wellness. To illustrate this trend, in the final month of 2022, the American firm Adoratherapy, known for creating aromatherapy goods, introduced its Alkemie Chakra Healing assortment; this line included various items such as perfume sprays for the senses, non-greasy tactile body oils, hydrating body unguents, and candle formulations for lotions, all sharing consistent aromatic profiles. These particular fragrances were intentionally formulated to restore equilibrium and facilitate therapeutic benefits, reflecting core aromatherapy concepts where crucial therapeutic effects are attributed to the essential oils themselves.
How Is the Complementary And Alternative Medicine Market Segmented?
The complementary and alternative medicinemarket 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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Which Companies Are Leading the Charge in Complementary And Alternative Medicine Market Innovation?
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 Regions Are Leading the Global Complementary And Alternative Medicine Market in Revenue?
North America was the largest region in the complementary and alternative medicine market in 2024. 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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