The global alternative & complementary medicine market was valued at USD 40.32 billion in 2015. Owing to the increasing support by the masses, increased usage of traditional therapeutic methods has a scope for considerable growth in the coming decade. It was estimated that more than 60% of the global population uses some or the other form of traditional medicine as of 2015.
Alternative medicine involves the application of traditional methods of medication such as the use of herbs and other mind and body healing techniques that are mostly based on faith and belief. However, most of these techniques have no regulatory approval or clinical evidential backing. Many of the governments and regulatory bodies have put up efforts in finding clinical support for the incorporation of alternative treatments to help improve the market and treatment methods.
Complementary & Alternative Medicine Market, by intervention, 2013 - 2025 (USD Billion)
Most of the alternative therapies include long time medication and are mostly used for chronic pains and ailments. 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 and this is a trend that is likely to continue and boost market growth throughout the forecast period.
The alternative medicine market is currently at a phase of steady growth in various regions, with some key Asia Pacific economies pushing for the increased usage of these therapies as part of an enhancement to medical tourism for complementary treatments. Market growth largely depends on the adoption of the traditional medicine around the world. However, lack of approved clinical support can hinder adoption by regulatory bodies restricting usage in many of the developed regions.
Botanicals account for the largest share of revenue generated in 2015 owing to the fact that a large base of population in developed countries use herbal/non-herbal dietary supplements like the vitamins, minerals and other digestive supplements. Various technological advancements are being integrated with the traditional therapies like acupuncture and magnetic interventions.
Government initiatives like the AYUSH ministry by India and Canada’s efforts to legalize the alternative medicinal therapies are likely to boost the market. Botanicals, that include Ayurveda had Naturopathy, find significant demand as dietary supplements and natural products for the treatment of skin diseases and chronic pain. Growth in medical tourism is expected to encourage the usage of complementary & alternative treatments over the forecast period.
Distribution Method Insights
The key element of alternative medicine lies in the delivery of therapy to the individual. Most of alternative & complementary therapies are delivered through direct contact, such as in the cases of acupuncture, energy healing, naturopathy and others. This includes the application of particular naturopathic treatment on the individual.
Direct contact delivery accounted for the major share of market revenue and amounted to over 70% of value. However, this is likely to slightly reduce due to the integration of distant healing technologies and remote therapy delivering which eliminate the need for physical presence of the consumer significantly enhancing the reach of the individual therapy provider.
E-training is another significant method of treating patients with alternative medicine and works by various technological mediums like telephonic medication, video therapy and instructional documentation etc. Nowadays, various governments are offering distance courses to improve the exposure of the practitioners to the alternative medicine therapies in an attempt to promote alternative medical tourism.
Complementary & alternative medicine market share, by region, 2015 (%)
Europe is the source of most revenue generation in the market owing to the extensive use of botanicals in the regions. Botanicals such as dietary supplements witness considerable demand in countries like Germany and France.
On the other hand, Asia Pacific is set to grow at steady pace over the forecast years due to growth of medical tourism, expensive nature of conventional medicine and the fact that the region serves as the origin place for a number of key alternative medical therapies. The Middle East is transforming into a global hub of wellness medical infrastructure to become and is expected to be one of the rapidly growing regions in this market.
Some of the key players and wellness institutes in this market are Pacific 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 the 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 grow at a significant rate in the forecast period.
Base year for estimation
Actual estimates/Historical data
2013 - 2016
2017 - 2025
Revenue in USD Million and CAGR from 2016 to 2025
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Revenue forecast, company share, competitive landscape, growth factors and trends
15% free customization scope (equivalent to 5 analyst working days)
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Segments Covered in the Report
This report forecasts revenue growth and provides an analysis of theindustry trends in each of the sub-segments from 2013 to 2025. For the purpose of this study, Grand View Research has segmented the Alternative & Complementary Medicine Market on the basis of intervention scope, distribution method scope, and region:
Intervention Outlook (Revenue, USD Billion; 2013 - 2025)
Mind, Body, and Yoga
Distribution Method Outlook (Revenue, USD Billion; 2013 - 2025)
Regional Outlook (Revenue, USD Billion; 2013 - 2025)
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