Complementary and Alternative Medicine Market Size, Share & Trends Report

Complementary and Alternative Medicine Market Size, Share & Trends Analysis Report By Intervention (Botanical, Acupuncture, Mind, Body, Yoga), By Distribution (Direct Contact, E-training), And Segment Forecasts, 2019 - 2026

  • Published Date: Mar, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-1-68038-725-4
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 195

Industry Insights

The global complementary and alternative medicine market size was valued at USD 59.76 billion in 2018 and is anticipated to expand at a CAGR of 17.07% during the forecast period. Increasing awareness regarding traditional therapy methods is projected to drive the growth. In 2018, it was estimated that more than 60% of global population use some or the other form of traditional medicine.

Complementary and alternative medicine involves application of traditional methods of medication such as herbs and other mind and body healing techniques mostly based on the faith and belief. Most of the techniques used in alternative medical treatment are not approved by many regulatory bodies around the world. Many governments and regulatory bodies have put up efforts in finding clinical support for the incorporation into alternative treatments to help improve the market and treatment methods.

France complementary and alternative medicine market

Most alternative therapies include long time medication and are mostly used for chronic pains and illnesses. 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 the therapies, is likely to boost the market during the forecast period.

Government efforts to encourage usage of the medicine is driving the complementary and alternative medicine market in several regions. However, lack of approved clinical support can hinder the growth as regulatory bodies from developed regions restrict the usage of these medicines and therapies.

Distribution Method Insights

The key element of complementary and alternative medicine lies in the delivery of the therapy to the individual. Most of these treatments are delivered through direct contact such as acupuncture, energy healing, naturopathy, and others. This includes the application of particular naturopathic treatment on the individual. Direct contact method of delivery has occupied the major market share of around 74.0% in 2018. It is likely to witness slight decline in near future due to the integration of distant healing and many other technologies eliminating the need for direct contact with individual.

E-training is another significant method of treatment delivered through various technological media like telephonic medication, video therapy, and others. Various governments offer distance courses to improve the exposure of the practitioners to various therapies. This factor is projected to bode well for segment growth in the forthcoming years. 

Intervention Insights

On the basis of intervention, the market is categorized into botanicals; acupuncture; mind, body, and yoga; and magnetic intervention. Botanicals occupy the highest share of the market as most people in developed countries use dietary supplements like vitamins, minerals, and other digestive supplements.

Global complementary and alternative medicine market

Technological advancements are being integrated with traditional therapies like acupuncture and magnetic interventions to improve outcomes. Government initiatives like the AYUSH ministry by India and Canada’s efforts to legalize the alternative medicinal therapies are likely to boost the market during the forecast period.

Botanicals segment that includes Ayurveda, Naturopathy, and Homeopathy; held the largest market share of almost 39.0% in 2018 owing to the high usage of dietary supplements and natural interventions in the treatment of skin diseases and chronic pains. Medical tourism and expensive conventional medical therapies in the developing regions are largely to encourage the usage of cheaper alternative medications and is like to boost the market.

Regional Insights

Europe occupied the larger market share owing to extensive use of botanicals such as dietary supplements in the countries like Germany and France. On the other hand, medical tourism, expensive conventional medicine, and origin of the medical techniques, Asia Pacific is set to grow at steady pace over the forecast years. Middle East is transforming with wellness medical infrastructure to become one of the hubs and fast-growing regions in the forthcoming years.

Complementary and Alternative Medicine Market Share Insights

Some of the key market players are Columbia Nutritional Inc.; Herb Pharm; Herbal Hills; Helio USA Inc.; Deepure Plus; Nordic Naturals; Pure encapsulations, Inc.; and other wellness institutes like Iyengar Yoga Institute; John Schumacher’s Unity Woods Yoga Center; Yoga Tree; The Healing Company; and Quantum Touch Inc.

Riding on the increased awareness among people and various government initiatives like the regulatory bodies aiming to obtain clinical data to support and legalize the alternative therapies, are likely to boost the market to witness significant growth in near future.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Billion and CAGR from 2019 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, UAE

Report coverage

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

15% free customization scope (equivalent to 5 analysts working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2026. 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 - 2026)

    • 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 - 2026)

    • Direct Contact

    • E-training

    • Distance Correspondence

  • Regional Outlook (Revenue, USD Billion, 2014 - 2026)

    • 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

      • UAE

Key questions answered by the report
Request for Customization

Choose License Type

Single User - $4,950
Multi User (2-5) - $5,950
Enterprise Access - $7,950

Buy Chapters or Sections

Avail customized purchase options to meet your exact research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities

Why Choose Us

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert.

  • Custom research service

    Custom research service

    Design an exclusive study to serve your research needs.

  • Quality assurance

    Quality assurance

    A testimonial for service in the form of BBB "A" Accreditation.

  • BBB Rating dandb
  • Information security

    Information security

    Your personal and confidential information is safe and secure.

  • grand view research PCI DSS complaint grand view research paypal verified