The global complementary and alternative medicines market is expected to generate $271.8 billion revenue by 2024, advancing at a CAGR of 6.0% during the forecast period.
On the basis of type, the complementary and alternative medicines market is classified into nature-based, mind-body intervention-based, manipulative body-based, and energy-based. Among these, nature-based complementary and alternative medicines (CAM) held the largest share in 2018, and the category is further expected to hold 39.9% share by 2024. This is attributed to low side-effects of homeopathic medicines, increasing demand for the prevention and management of medical conditions, and inexpensive nature of CAM products.
On the basis of application, the complementary and alternative medicines market is classified into depression and anxiety, pain management, chronic diseases, neurological disorders, infertility, skin disorders, and weight loss. Among these, CAM are frequently used in the management of depression and anxiety, owing to the hectic life schedule and increasing work and societal pressure. This category held the largest revenue share, with a contribution of 41.9%, in 2018 and is further expected to reach 43.0% by 2024.
On the basis of type, the complementary and alternative medicines market is classified into nature-based, mind-body intervention-based, manipulative body-based, and energy-based. Among these, nature-based complementary and alternative medicines (CAM) held the largest share in 2018, and the category is further expected to hold 39.9% share by 2024. This is attributed to low side-effects of homeopathic medicines, increasing demand for the prevention and management of medical conditions, and inexpensive nature of CAM products.
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On the basis of application, the complementary and alternative medicines market is classified into depression and anxiety, pain management, chronic diseases, neurological disorders, infertility, skin disorders, and weight loss. Among these, CAM are frequently used in the management of depression and anxiety, owing to the hectic life schedule and increasing work and societal pressure. This category held the largest revenue share, with a contribution of 41.9%, in 2018 and is further expected to reach 43.0% by 2024.
In
February 2019, Dabur India Ltd. launched two new Ayurvedic products, Ratnaprash
and Hridayasava, to enhance its Ayurvedic healthcare product portfolio.
Similarly, in October 2018, Weleda AG announced the expansion of its product
line of Weleda Skin Food by launching new body butter, lip balm, and
lightweight moisturizer.
COMPLEMENTARY
AND ALTERNATIVE MEDICINES MARKET SEGMENTATION
Market
Segmentation by Type
·
Nature-Based
o Ayurveda
o Homeopathic
o Mud
therapy
o Others
·
Mind-Body Intervention-Based
o Yoga,
meditation, tai chi, and qigong
o Biofeedback
o Guided
imagery
o Hypnosis
o Others
·
Manipulative Body-Based
o Chiropractic
o Physiotherapy
o Massage
o Acupuncture
o Others
·
Energy-Based
o Reiki
o Electromagnetic
therapy
o Others
Market
Segmentation by Application
·
Depression and Anxiety
·
Pain Management
·
Chronic Diseases
·
Neurological Disorders
·
Infertility
·
Skin Disorders
·
Weight Loss
·
Others
Market
Segmentation by Mode of Service
·
Therapy Classes
·
Direct Consultation
·
E-Learning
Market
Segmentation by End User
·
Yoga and Meditation Centers
·
Therapy Centers
·
Home Care
·
Hospitals and Clinics
·
Others
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