Alternative & Complementary Medicine
SKU
MRR-434CCDA04DB7
Region
Global
Publication Date
March 2024
Delivery
Immediate
2023
USD 108.59 billion
2030
USD 249.19 billion
2024
USD 121.64 billion
CAGR
12.59%
Alternative & Complementary Medicine Market by Type (Body Therapy, Diet & Herbs-Based Therapy, Energy Healing Therapy), Indication (Arthritis, Asthma, Cancer), Distribution Channel - Global Forecast 2024-2030

[187 Pages Report] The Alternative & Complementary Medicine Market size was estimated at USD 108.59 billion in 2023 and expected to reach USD 121.64 billion in 2024, at a CAGR 12.59% to reach USD 249.19 billion by 2030.

Alternative & Complementary Medicine Market
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Alternative and complementary medicines (ACM) encompass a broad spectrum of healthcare practices, therapies, and products not commonly associated with standard Western medicine. ACM falls into two categories, namely, complementary and alternative. Complementary medicine is used with traditional medical treatments to alleviate symptoms and augment the efficacy of conventional care, whereas alternative medicine serves as a substitute for these treatments. These approaches derive from various philosophical and evidence-based foundations, often traced to age-old medical traditions. Key practices in the ACM include acupuncture, homeopathy, chiropractic services, yoga, meditation, and dietary supplements. Notably, when these non-conventional practices complement conventional medicine, they are termed "complementary," but when they replace conventional medicine, they are identified as "alternative. Key drivers include increasing consumer preference for natural products, growing awareness of the side effects of allopathic medications, and a rising aging population prone to chronic diseases. However, the market challenges include regulatory hurdles, the lack of standardization and quality control across products and services, and limited medical insurance coverage for alternative treatments. Opportunities lie in expanding preventive healthcare, partnerships between complementary and conventional care providers, and technological advancements in product development. There is also potential for an increase in healthcare expenditure in emerging economies, where traditional medicine is often deeply rooted in cultural practices.
Alternative & Complementary Medicine Market - Global Forecast 2024-2030
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FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Alternative & Complementary Medicine Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Alternative & Complementary Medicine Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Alternative & Complementary Medicine Market, highlighting leading vendors and their innovative profiles. These include AmeriCare Physical Therapy, Boiron, Cipla Limited, Columbia Nutritional, LLC, Dabur India Ltd., First Natural Brands Ltd., Full Motion Physical Therapy, Herb Pharm, LLC, Mountain Rose Herbs, Nature's Bounty, Inc., Nordic Naturals, PEKANA Naturheilmittel GmbH, Pharmesis International Ltd., Pure Encapsulations, LLC, Rocky Mountain Oils LLC, schwa-medico GmbH, Seirin Corporation, The Arya Vaidya Pharmacy (CBE) Ltd., The Himalaya Drug Company, and Weleda AG.

Market Segmentation & Coverage

This research report categorizes the Alternative & Complementary Medicine Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Type
    • Body Therapy
    • Diet & Herbs-Based Therapy
    • Energy Healing Therapy
      • Chakra Healing
      • Magnetic Therapy
      • Radionics
      • Reiki
      • Therapeutic Touch
    • Mind Therapy
    • Sensory Healing
      • Aromatherapy
      • Music therapy
      • Sonopuncture
      • Sound Therapy
    • Traditional Alternative Medicine Therapy
      • Apitherapy
      • Ayurveda
      • Bach Flower Therapy
      • Naturopathic Medicine
      • Traditional Chinese Medicine
      • Traditional Japanese Medicine
      • Traditional Korean Medicine
      • Traditional Mongolian Medicine
      • Traditional Tibetan Medicine
      • Zang Fu Theory
  • Indication
    • Arthritis
    • Asthma
    • Cancer
    • Cardiology
    • Diabetes
    • Neurology
  • Distribution Channel
    • Direct Sales
    • Distance Correspondence
    • Online Sales
    • Special Clinics/Centres

  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

The report offers valuable insights on the following aspects:

  1. Market Penetration: It presents comprehensive information on the market provided by key players.
  2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
  3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
  4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
  5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

  1. What is the market size and forecast of the Alternative & Complementary Medicine Market?
  2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Alternative & Complementary Medicine Market?
  3. What are the technology trends and regulatory frameworks in the Alternative & Complementary Medicine Market?
  4. What is the market share of the leading vendors in the Alternative & Complementary Medicine Market?
  5. Which modes and strategic moves are suitable for entering the Alternative & Complementary Medicine Market?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Alternative & Complementary Medicine Market, by Type
  7. Alternative & Complementary Medicine Market, by Indication
  8. Alternative & Complementary Medicine Market, by Distribution Channel
  9. Americas Alternative & Complementary Medicine Market
  10. Asia-Pacific Alternative & Complementary Medicine Market
  11. Europe, Middle East & Africa Alternative & Complementary Medicine Market
  12. Competitive Landscape
  13. Competitive Portfolio
Companies Mentioned
  • AmeriCare Physical Therapy
  • Boiron
  • Cipla Limited
  • Columbia Nutritional, LLC
  • Dabur India Ltd.
  • First Natural Brands Ltd.
  • Full Motion Physical Therapy
  • Herb Pharm, LLC
  • Mountain Rose Herbs
  • Nature's Bounty, Inc.
  • Nordic Naturals
  • PEKANA Naturheilmittel GmbH
  • Pharmesis International Ltd.
  • Pure Encapsulations, LLC
  • Rocky Mountain Oils LLC
  • schwa-medico GmbH
  • Seirin Corporation
  • The Arya Vaidya Pharmacy (CBE) Ltd.
  • The Himalaya Drug Company
  • Weleda AG
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Frequently Asked Questions about the Alternative & Complementary Medicine Market
The Global Alternative & Complementary Medicine Market size was estimated at USD 108.59 billion in 2023 and expected to reach USD 121.64 billion in 2024.
The Global Alternative & Complementary Medicine Market to grow USD 249.19 billion by 2030, at a CAGR of 12.59%
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