Complementary And Alternative Medicine Market Size, Share & Trends Report

Complementary And Alternative Medicine Market Size, Share & Trends Analysis Report By Intervention (Botanicals, Acupuncture, Yoga, Magnetic), By Distribution Method, And Segment Forecasts, 2018 - 2025

  • Published Date: Nov, 2018
  • Base Year for Estimate: 2017
  • Report ID: GVR-1-68038-725-4
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 195

Industry Insights

The global complementary and alternative medicine market size was valued at USD 52.00 billion in 2017. It is expected to register a CAGR of 18.11% during the forecast period. Increasing awareness regarding the benefits offered by alternative medical therapies is likely to provide an upthrust to the market. A sizeable global population is estimated to use one or the other form of traditional medicine.

Global complementary and alternative medicine market

Complementary and alternative medicines involve application of traditional methods of medication such as use of herbs and other mind and body healing techniques, mostly based on the faith and belief. However, most of the techniques used in alternative medical treatment are not approved by any of the regulatory bodies around the world. Many governments and regulatory bodies are putting efforts in finding clinical support for incorporation of alternative treatments to help improve the market and treatment methods.

Most of the alternative therapies include long time medications and mostly used for chronic pains and chronic illnesses. Recent times have seen a surge in the number of studios and outlets in the form of startups and well-established firms offering dietary herbal supplements and many other accessories needed for therapies. This trend is projected to augment the market during the forecast period.

The market is currently witnessing strong growth in various regions, with some of the governments promoting the usage of the medicines. However, lack of approved clinical support is poised to restrict the growth of the market as several regulatory bodies are restricting the usage of this type of medicine therapy in many developed regions

Intervention Insights

In 2017, botanicals represented the highest share in the market as most of the people in developed countries use dietary supplements such as vitamins, minerals, and other digestive supplements. Besides this, high usage of natural interventions in the treatment of chronic pains and skin diseases is supplementing the growth of the market.

Advancements and innovations in therapies such as acupuncture and magnetic interventions are estimated to bode well for the market. Initiatives such as Ministry of AYUSH by the Government of India to promote alternative medicinal therapies are likely to boost the growth of the market. Flourishing medical tourism and expensive conventional medical therapies in developing regions are anticipated to encourage the usage of cheaper alternative medications, thereby propelling the overall market.

Distribution Method Insights

The key element of complementary and alternative medicines lies in the delivery of therapy to individuals. Most of this type of medicine treatment is delivered through direct contact in cases of acupuncture, energy healing, naturopathy, and others. This includes application of particular naturopathic treatment on individuals.

Direct sales were the most prominent distribution method in the global complementary and alternative medicine market. The segment accounted for approximately three quarters of the overall revenue in 2017. E-sales and distance correspondence are expected to make inroads in the share of the segment over the forecast period due to integration of distant healing and several other technologies, which eliminate the need of direct contact with individuals.

Global complementary and alternative medicine market

E-training is one more significant method of treating patients with complementary and alternative medicines. This is possible by various technological media such as telephonic medication and video therapy. Nowadays, several governments are offering distance courses to improve the exposure of practitioners to complementary and alternative medicine therapies.

Regional Insights

Europerepresented the largest share in the market in 2017 owing to extensive use of botanicals such as dietary supplements in countries such as Germany and France. On the other hand, with booming medical tourism, expensive conventional medicines, and being the origin of several medical techniques, Asia Pacific is slated to witness noteworthy growth during the forecast period.

With rapid development in the medical infrastructure and growing investments in health and wellness, the Middle East is projected to become a hub and the fastest growing region in this market. The usage and adoption of complementary and alternative medicine across the region is poised to experience considerable upswing.

Complementary And Alternative Medicine Market Share Insights

Some of the key players and wellness institutes in this market are Columbia Nutritional Inc.; Herb Pharm; Herbal Hills; Helio USA Inc.; Deepure Plus; Nordic Naturals; and Pure Encapsulations, Inc. There are several wellness institutes, including Iyengar Yoga Institute; John Schumacher’s Unity Woods Yoga Center; Yoga Tree; The Healing Company; and Quantum Touch Inc., operating as well in the market.

Several market players are trying to capitalize on increased awareness among people and various government initiatives such as regulatory bodies aiming to obtain clinical data to support and legalize alternative therapies. This is anticipated to boost the growth of the market during the forecast period.

Report Scope

Attribute

Details

Base year for estimation

2017

Actual estimates/Historical data

2014 - 2016

Forecast period

2018 - 2025

Market representation

Revenue in USD Billion and CAGR from 2018 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Country scope

U.S., Canada, Austria, Belgium, Denmark, France, Germany, Ireland, Netherlands, Norway, Spain, Sweden, Switzerland, U.K., Australia, China, Hong Kong, India, Japan, New Zealand, Singapore, Argentina, Brazil, Mexico, Israel, South Africa, U.A.E.

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For this study, Grand View Research has segmented the global complementary and alternative medicine market report based on intervention, distribution method, and region: 

  • Intervention Outlook (Revenue, USD Billion, 2014 - 2025)

    • Botanicals

      • Ayurveda

      • Naturopathy

      • Homeopathy

    • Acupuncture

    • Mind, Body, and Yoga

      • Yoga

      • Meditation

      • Energy Healing

      • Chakra Healing

      • Hypnotherapy

    • Magnetic Intervention

  • Distribution method Outlook (Revenue, USD Billion, 2014 - 2025)

    • Direct Contact

    • E-training

    • Distance Correspondence

  • Regional Outlook (Revenue, USD Billion, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Austria

      • Belgium

      • Denmark

      • France

      • Germany

      • Ireland

      • Norway

      • Netherlands

      • Spain

      • Sweden

      • Switzerland

      • U.K.

    • Asia Pacific

      • Australia

      • China

      • Hong Kong

      • India

      • Japan

      • New Zealand

      • Singapore

    • Latin America

      • Argentina

      • Brazil

      • Mexico

    • MEA

      • Israel

      • South Africa

      • U.A.E.

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