Complementary And Alternative Medicine Market: A Holistic Approach to Wellness

Complementary And Alternative Medicine Industry Overview

The global complementary and alternative medicine market size was valued at USD 144.68 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 25.3% from 2024 to 2030. The growing awareness regarding Complementary and Alternative Medicine (CAM), increasing disposable income, and government initiatives to boost CAM are some of the major factors driving the market growth.

Gather more insights about the market drivers, restrains and growth of the Complementary And Alternative Medicine Market

Rising adoption of electronic methods is also expected to boost the market growth as this increases reach of many alternative treatments and supplements. In order to increase penetration rate of CAM, several governments and regulatory bodies are undertaking efforts for finding clinical support for considering these techniques as alternative medicines.

In addition, increased penetration of the internet and social media to promote & offer CAM services or therapies has strengthened the market. For instance, The Healing Company Ltd. treats individuals through energy healing techniques and offers distance healing therapies using a teleconference or video conference. Many natural supplements and botanicals are made available online to improve product reach. Virtual reality and holographic presence have proven their potential to enhance treatment methods and their accessibility.

Meanwhile, Coworth Park introduced a new Hebridean sound treatment in October 2023. This exceptional offering provides individuals with a calming sound therapy experience, offering a moment of relaxation and revitalization. Sound therapy, known for its calming effects, adds another dimension to the growing array of wellness offerings, highlighting the industry's commitment to holistic well-being.

Order a free sample PDF of the Market Intelligence Study, published by Grand View Research.

Key Companies profiled:

• Columbia Nutritional

• Nordic Nutraceuticals

• Ramamani Iyengar Memorial Yoga Institute

• The Healing Company Ltd.

• John Schumacher Unity Woods Yoga Centre

• Sheng Chang Pharmaceutical Company

• Pure encapsulations, LLC.

• Herb Pharm

• AYUSH Ayurvedic Pte Ltd.