Global Complementary & Alternative Medicines Market - Analysis & Forecast to 2024 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Complementary and Alternative Medicines Market Research Report: by Type, Application, Geographical Outlook - Global Industry Analysis and Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The increase in the use of traditional therapies and medicines, surging geriatric population, side-effects of allopathic medicines, and increasing awareness about alternative medicines are the positive influencers of the complementary and alternative medicines (CAM) market. It valued $192.0 billion in 2018, and it is expected to reach $271.8 billion by 2024, advancing at a 6.0% CAGR during the forecast period (2019-2024). Remedies or treatments that are used instead of conventional allopathic treatments are termed as complementary and alternative medicines (CAM). Reiki, Ayurveda, homeopathy, chiropractic, and yoga are types of CAM.

New product launches are trending in the CAM market. With increasing awareness regarding the adverse effects of allopathic medication, people are shifting toward natural modes of treatment. This is resulting in the surging demand for alternative medicines and therapies, to keep up with which, market players are heavily investing in the development of new and effective products. For instance, a collection of essential and carrier oils was launched by Vitruvi in January 2019. Further, in June 2018, pre-medicated standardized homeopathic medicines were launched in India by Boiron India.

The categories of the CAM market, based on mode of service, are e-learning, therapy classes, and direct consultation. Among these, the highest revenue in the market was generated by the therapy class category throughout the historical period (2014-2018) with 60.3% share in 2018. This can be credited to the popularity of alternative therapies, such as yoga, reiki, and meditation. Additionally, chiropractic and acupuncture can only be performed under supervision, therefore can be conducted only during classes. This is expected to make the category the largest in 2024 with a 61.2% share.

The CAM market players can explore the potential of natural resources, which are abundantly present, to generate high revenues. Alternative medicines are mostly derived from plants, mud, water, and other natural components. India and China are the world's biggest exporters of medicinal herbs, and these two countries together account for the highest number of medicinal herbs, which can be taken advantage of by the market players. Further, Tai chi, yoga, and qigong therapies can be provided to people without investing in any kind of raw materials and yet can be a major avenue to generate revenue.

Therefore, the market for CAM is headed toward prosperity in the forecast period owing to the increasing awareness regarding the benefits of traditional medication and therapies over allopathic treatments.

Key Topics Covered:

Chapter 1. Research Background

1.1 Research Objectives

1.2 Market Definition

1.3 Research Scope

1.4 Key Stakeholders

Chapter 2. Research Methodology

2.1 Secondary Research

2.2 Primary Research

2.3 Market Size Estimation

2.4 Data Triangulation

2.5 Assumptions for the Study

Chapter 3. Executive Summary

Chapter 4. Introduction

4.1 Definition of Market Segments

4.2 Market Dynamics

4.3 Porter's Five Forces Analysis

4.4 Country-Specific Medicines/Therapies

Chapter 5. Global Market Size and Forecast

5.1 By Type

5.2 By Application

5.3 By Mode of Service

5.4 By End User

5.5 By Region

Chapter 6. Europe Market Size and Forecast

6.1 By Type

6.2 By Application

6.3 By Mode of Service

6.4 By End User

6.5 By Country

Chapter 7. APAC Market Size and Forecast

7.1 By Type

7.2 By Application

7.3 By Mode of Service

7.4 By End User

7.5 By Country

Chapter 8. North America Market Size and Forecast

8.1 By Type

8.2 By Application

8.3 By Mode of Service

8.4 By End User

8.5 By Country

Chapter 9. LATAM Market Size and Forecast

9.1 By Type

9.2 By Application

9.3 By Mode of Service

9.4 By End User

9.5 By Country

Chapter 10. MEA Market Size and Forecast

10.1 By Type

10.2 By Application

10.3 By Mode of Service

10.4 By End User

10.5 By Country

Chapter 11. Major CAM Markets

11.1 U.S.

11.2 Germany

11.3 China

11.4 France

11.5 Japan

11.6 U.K.

11.7 India

11.8 Canada

11.9 Mexico

Chapter 12. Competitive Landscape

12.1 Company Benchmarking Based on Applications

12.2 Strategic Developments of the Key Players

Chapter 13. Company Profiles

13.1 Cipla Limited

13.2 Boiron

13.3 Dabur India Ltd.

13.4 Novartis AG

13.5 Weleda AG

13.6 The Arya Vaidya Pharmacy (CBE) Ltd.

13.7 PEKANA Naturheilmittel GmbH

13.8 Full Motion Physical Therapy

13.9 AmeriCare Physical Therapy

13.10 doTERRA International LLC

13.11 Mountain Rose Herbs

13.12 Rocky Mountain Oils LLC

13.13 The Himalaya Drug Company

13.14 SEIRIN Corporation

13.15 schwa-medico GmbH

13.16 Pharmesis International Ltd.

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