Global Complementary and Alternative Medicine Market By Intervention (Botanicals, Acupuncture, Mind, Body, and Yoga and Others), By Application (Direct Contact, E-Training), and By Region - Global Forecast to 2030

“Global Complementary & Alternative Medicine Market” is the title of a recently published market report compiled by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in to various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global complementary & alternative medicine market has been segmented on the basis of intervention, distribution method, as well as regions and countries.

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The Global Complementary & Alternative Medicine Market was valued at UЅD $93,157.1 Мn in 2020, and is projected to achieve a valuation of UЅD $380,587.6 Мn by 2030, at a САGR of 16.2%.

Overview:

Complementary & alternative medicine are medicines and health practices that are not usually used by doctors to treat cancer. Complementary medicine is used in addition to conventional treatments, and alternative medicine is used instead of conventional treatments.

Dynamics:

The growing prevalence of various chronic diseases such as diabetes, cancer, coronary heart disease, etc., across the world is leading an increasing number of individuals to seek substitute forms of treatment. This is a primary factor that is expected to continue to impact the revenue growth of the global complementary & alternative medicine market over the next 10 years. Moreover, treatments such as chemotherapy, have been known to cause various side-effects body or joint pains, anxiety, nausea, tiredness, etc., for which individuals are constantly looking for supplements to alleviate their condition. This is a factor that is also slated to influence future market growth opportunities for this global industry.

However, in light of the recent COVID-19 outbreak, the operations of numerous industries have either been temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global complementary & alternative medicine market is no different, and this is expected to have a negative impact on the revenue growth of this industry in the years to come. Furthermore, the cost price of complementary & alternative medicine when compared to conventional medicine is much higher, and this factor is also slated to have a negative influence on this global industry in the foreseeable future.

Owing to the gradual increase in the demand for alternative therapies and medicines, numerous industry players are now looking to focus on the development of improved, more efficient products. This is another factor that is expected to further augment future market growth opportunities for this global industry.

Segmentation of the global complementary & alternative medicine market is as follows:

In terms of intervention, the botanicals segment accounted for the maximum number of revenue shares of the global complementary & alternative medicine market in 2020, and is expected to continue doing so over the forecast period. The acupuncture segment is also anticipated to index a high CAGR over the next 10 years.

With regards to distribution method, the direct contact segment accounted for the highest number of revenue shares of the global complementary & alternative medicine market in 2020, and is anticipated to continue doing so over the next decade. The e-training segment is also indicative of registering a high CAGR over the forecast period.

Regional Segmentation and Analysis:

The markets in Europe accounted for the maximum number of revenue shares of the global complementary & alternative medicine market in 2020, and are indicative of remaining this industry’s front-runner over the next decade. However, the markets in the Asia Pacific region are anticipated to index the highest CAGR over the forecast period.

Segmentation of the Global Complementary & Alternative Medicine Market:

Segmentation by Intervention:

• Botanicals
• Acupuncture
• Mind, Body, and Yoga
• Magnetic Intervention

Segmentation by Application:

• Direct Contact
• E-Training

Segmentation by Regions:

• North America
• Europe
• APAC
• South America
• MEA