Market Segmentation:
- By Therapy Type
- Alternative Medical Systems
- Mind-Body Interventions
- Biologically-Based Therapies
- Manipulative and Body-Based Methods
- Energy Therapies
- By Distribution Channel
- Direct Sales
- E-commerce
- Retail Pharmacies
- Wellness Centers
- Supermarkets/Hypermarkets
- Specialty Stores
- Others (Health Food Stores, Community Health Centers)
- By Regions
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Frequently Asked Questions
The Complementary And Alternative Medicine Market was valued at US$ 82.5 billion in 2024.
Key growth factors include increasing consumer awareness, rising healthcare costs, growing acceptance by healthcare professionals, and interest in natural and holistic health approaches.
Factors hampering growth include lack of scientific evidence for some therapies, regulatory challenges, inconsistent quality control, and skepticism from some medical professionals.
Biologically-based therapies, including herbal medicines and dietary supplements, lead the market due to their widespread use and acceptance.
Major players include Ayush Herbs Inc., Nordic Naturals, Herb Pharm, Pure Encapsulations, LLC, Nestlé (Atrium Innovations), and Nature's Bounty.
The market is projected to grow at a CAGR of 7.3% from 2024 to 2031, reaching US$ 135.1 billion by 2031.
Key drivers include increasing chronic disease prevalence, growing interest in preventive healthcare, rising disposable incomes, and integration of CAM into conventional healthcare systems.