Complementary and Alternative Medicine Market Growth Report 2023 Analysis of Key Players and Business Statistics for 2030
May 11, 2023 (Alliance News via COMTEX) -- The latest report on the Complementary and Alternative Medicine Market is 250 pages long and includes a number of tables and figures. This report covers the period from 2023 to 2030 and offers valuable insights into the market landscape.
Global Complementary and Alternative Medicine Market to reach USD 330.95 billion by 2027.Global Complementary and Alternative Medicine Market is valued approximately at USD 82.27 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 22% over the forecast period 2021-2027.
Complementary and alternative medicines are a combination of self-administered products and activities, such as dietary supplements, herbal medicines, homeopathic remedies, and yoga, with chiropractic care, massage therapy, and acupuncture. Rising prevalence of cancer and other serious diseases, side effects of allopathy medicines and government initiatives to encourage the use of complementary and alternate medicines are the factors boosting the demand in the market. For instance, according to American Cancer Society, there were 17 million new cases of cancer worldwide which are expected to increase to 27.5 million new cases by 2040.
The regions taken into consideration for regional analysis of Complementary and alternative medicines markets are Asia Pacific, Europe, Latin America, North America and Rest of the World. North America accounts for largest market share due to growing population with serious disorders and presence of skilled professionals. Whereas Asia pacific is anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due availability of herbal supplements and increased use of health supplements.
Major market player included in this report are:
Columbia NutritionalNordic NutraceuticalsRamamani Iyengar Memorial Yoga InstituteThe Healing Company Ltd.John Schumacher Unity Woods Yoga CentreSheng Chang Pharmaceutical CompanyPure encapsulations, LLC.Herb PharmAYUSH Ayurvedic Pte Ltd.LKK Health Products Group Limited
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market.
The detailed segments and sub-segment of the market are explained below:
By Intervention:Traditional Alternative Medicine/BotanicalsMind HealingBody HealingExternal EnergySensory Healing
By Distribution Method:Direct SalesE-salesDistance Correspondence
By Region:North AmericaU.S.CanadaEuropeUKGermanyFranceSpainItalyROE
Asia PacificChinaIndiaJapanAustraliaSouth KoreaRoAPACLatin AmericaBrazilMexicoRest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019Base year – 2020Forecast period – 2021 to 2027
Target Audience of the Global Complementary And Alternative Medicine Market in Market Study:
Key Consulting Companies & AdvisorsLarge, medium-sized, and small enterprisesVenture capitalistsValue-Added Resellers (VARs)Third-party knowledge providersInvestment bankersInvestors
In this report, the following important queries are addressed:
What is the Global market’s sales value, production value, consumption value, import, and export (including North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
Who are the major manufacturers in this sector on a global scale? How are their capacity, production, sales, pricing, cost, gross, and revenue operating?
What are the vendors’ market prospects and risks in the international industry?
Which product types, end users, or applications might be looking for additional growth prospects? What is each type’s and application’s market share?
What specific strategies and limitations are keeping the market in check?
What is the various marketing, sales, and distribution channels in the international market?
What are the upstream raw materials, as well as the manufacturing machinery?
What are the Market opportunities, market risk, and market overview of this industry?
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