Complementary and Alternative medicines are practices used to achieve healing effects. It is a branch of medical science that deals with medical treatments that are used instead of traditional therapies but sometimes use combinations with standard treatments. And on the other hand, the medicines that are used as an alternatives/substitute during the standard or routine medical practices are called alternative medicines. It aids in treating: neck pain, back pain, nausea, anxiety, depression, insomnia, infertility, headaches, joint problems, disorders caused by whiplash, osteoarthritis and many other conditions. Various complementary and alternative medicine procedures are: acupuncture, chiropractic medicine, energy therapies, magnetic field therapies and many other procedures.
Complementary and Alternative Medicine Market: Key Players
The research study includes profiles of leading companies operating in the global complementary and alternative medicine market. Key players profiled in the report include: Nordic Nutraceuticals, Columbia Nutritional, Ramamani Iyengar Memorial Yoga Institute, Herb Pharm, John Schumacher Unity Woods Yoga Centre, Pure Encapsulations, LLC., The Healing Company Ltd, AYUSH Ayurvedic Pte Ltd, Quantum Touch Inc. and Sheng Chang Pharmaceutical Company.
Drivers for the Global Complementary and Alternative Medicine Market:
Rising demand of complementary & alternative medicine treatments like: acupuncture, complementary wellness treatments, yoga, magnetic intervention, meditation are gaining popularity globally; upsurge in adoption towards herbal supplements & homeopathy medicines; increasing stress & depression rate globally and low cost of complementary medicines as compared to pharmaceutical drugs. Hence these factors are the drivers and are owing to increase the disposable income and growth of the industry.
Opportunities for the Global Complementary and Alternative Medicine Market:
Moreover, rising medical tourism through complementary & alternative medicine, upsurge in spas, yoga studios, meditation centers & complementary wellness facilities and government initiatives & establishments towards adoption of complementary & alternative medicine. Hence these factors are going to provide future opportunities for the growth of the industry.
Restrains for the Global Complementary and Alternative Medicine Market:
However, due to lack of scientific results & poor understanding of the medicines, some CAM approaches are slightly harmful & can be ineffective, various regulatory issues and lengthy research procedures for identifying a CAM. Hence these factors can majorly hamper the growth of the complementary and alternative medicine industry.
Region Wise, Global Complementary and Alternative Medicine Market Analysis:
Europe held major share in the market due to general economic conditions, investment in new technology, acceptance of alternative treatments & upsurge in patient preference toward complementary & alternative medicine and increasing number of clinics & hospitals practicing the techniques for treatment. Besides Asia-Pacific and North America held a large share in the market.
Global Complementary and Alternative Medicine Market: Product analysis
- Traditional Alternative Medicine Therapy
- Body Therapy
- Diet and Herbal Based Therapy
- Energy Healing Therapy
- Mind Therapy
Global Complementary and Alternative Medicine Market: Application analysis
- Direct Sales
- Distance Correspondence
Global Complementary and Alternative Medicine Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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