07 June 2020
Visiongain has launched a new pharma report Complementary and Alternative Medicine Market Report 2020-2030: Forecasts by Intervention (Acupuncture, Botanicals (Ayurveda, Homeopathy, Naturopathy), Magnetic Intervention (Magnetic Resonance Therapy, Bio-magnetic Therapy,), Mind & Body Healing (Chakra Healing, Energy Healing, Hypnotherapy, Kinesiology, Meditation, Yoga)), Distribution Method (Distance, Direct Sales, E-Sales), and Geography (North America, Latin America, Europe, Asia Pacific, MEA).
The global complementary and alternative medicine market is anticipated to grow at a lucrative CAGR of ~xyz% and anticipated to reach USD xyz billion by 2020 owing to wide acceptance of these alternative treatments among the general population, further causing an upswing in the number of yoga studios, meditation centers, spas, and complementary wellness facilities.
Alternative medical items are a variety of healthcare facilities that have not scientifically verified the curing effects. Some of the useful aspects of alternative medicine have been accepted in ordinary medicines, such as magnetic therapy, color puncture, and light therapy. Holistic treatment, that focuses on treating the human being as a whole, is the fundamental philosophy behind an alternative medical system.
In the promotion of the use of substitute and complementary medicine (CAM), policy policies play a key role. Improved investment, the establishment of governmental complementary treatment facilities, and the costly existence of traditional therapy alternatives are also secondary factors that are driving businesses to invest in complementary and alternative medicine markets.
The regional authorities and actors concentrate on improving complementary and alternative medicine-related medical tourism. In recent years, governments in India have invested extensively in developing and standardizing supplementary medicine facilities. For example, "Ayush Ministry" is established in Ayurveda, Yoga, Naturopathy, and Homeopathy by national authorities to manage research, development, education, and other facilities.
The advent of integrative medicine has proved useful in pushing complementary and alternative treatments to penetrate. Professionals agree that integrative medicine can tackle a variety of causes, mental, physical, and spiritual, for a patient.
As a result of the wide acceptance of alternative treatment methods and growing patient demand for the same, Europe dominated the global market for complementary medicine and alternative medicine, improving the regional market for complementary and alternative medicine.
Nevertheless, as a result of growing momentum and popularity in India, the Asia Pacific area is projected to experience the fastest growth in the CAGR over the forecast period. The government, in the 2018 Union Budget, increased the allocation to the AYUSH Ministry, purposed with developing education and research in these areas of medicine, by more than 13 percent to Rs 1,626.37 crore. Increasingly the number of AYUSH graduate and postgraduate institutes for medicine is supported by strong government funding. To build infrastructure and develop a clear regulatory frame, central regulatory bodies are also being set up.
Currently, key players are forming various strategies such as acquisitions, mergers, partnerships, collaborations, and launching new products to strengthen their position in the global complementary and alternative medicine market. Companies are also expanding their R&D, distribution, and management facilities to expand their business and to hold a competitive edge in the Complementary and Alternative Medicine market.
The comprehensive market report features companies such as Atkins Health Center, Biomag Medical s.r.o., BiomagScience, BIOTAILOR, Body & Soul Yoga Club, Columbia Nutritional, Helio USA Inc, Herb Pharm, Herbal Hills, LKK Health Products Group Limited., NatureKue, Inc., Nordic Nutraceuticals, Pure Encapsulations, LLC., Quantum-Touch, Ramamani Iyengar Memorial Yoga Institute, The Ashdown Clinic Limited, The Healing Company Ltd., Triyoga, Vitalia Health, Yoga Tree Studios, Inc. among other prominent players. Also the research study offers market estimation and forecast for the period ranging 2020-2030 for global markets such as North America, Latin America, Europe, Asia Pacific and MEA along with regional sub-markets as U.S., Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Russia, India, Japan, China, Australia, ASEAN, GCC and South Africa.
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