Complementary and Alternative Medicine Market Size, Report 2030

Published Date : 22 Nov 2022

The global complementary and alternative medicine market size was exhibited at USD 109.24 billion in 2022 and is expected to hit around USD 411.4 billion by 2030, growing at a CAGR of 18% during the forecast period from 2022 to 2030.

Global complementary and alternative medicine is primarily driven by the rising awareness regarding the benefits of medicines made from herbs and plants. The rising adoption of yoga, aroma therapy, acupuncture therapy, and various other therapies. The growing burden of diseases, the rising geriatric population, and government support are the major factors that boost the growth of the global complementary and alternative medicine market. For instance, the government of India had set up the “Ministry of Ayush” for the development and support of complementary and alternative medicines in India. The Ministry of Ayush overlooks matters related to the education, product, and research of naturopathy, Ayurveda, and homeopathy medicines. Thus, rising government support is expected to play a crucial role in the growth and development of the complementary and alternative medicine market across the globe.

Complementary and Alternative Medicine Market Report Scope

Report Coverage Details
Market Size In 2022 USD 109.24 Billion
Market Size By 2030 USD 411.4 Billion
Growth Rate from 2022 to 2030 CAGR of 18%
Base Year 2021
Forecast Period 2022 to 2030
Segments Covered
  • By Intervention
  • By Distribution Channel
Regions Covered
  • North America 
  • Europe
  • Asia-Pacific 
  • Latin America 
  • Middle East and Africa

Report Highlights

  • Based on the intervention, the traditional alternatives/botanicals segment dominated the market, accounting for a market share of around 38% in 2020. The increased demand for herbal, Ayurveda, and homeopathy products across developed regions like Europe and North America has supplemented the growth of this segment. Moreover, the demand for herbal supplements is high in developed countries.
  • Based on the distribution channel, distance correspondence is estimated to be the most opportunistic segment during the forecast period. The growing preferences for distance education programs, acupuncture, yoga training, mind healing, and meditation programs is expected to drive the growth of this segment.

Regional Snapshot

Based on the region, Europe accounted for a market share of over 33% and dominated the global complementary and alternative medicine market in 2020. This is attributable to the increased awareness about the availability of alternative medicines and therapies. The increased demand for natural and organic products in Europe is further fueling the demand for herbal, Ayurveda, and naturopathy medicines. Consumers have become more conscious of the side effects of traditional chemical-based medicines and want to reduce their dependency on it. Therefore, consumers are increasingly opting for natural and herb-based medicines, and the demand for yoga, acupuncture, and aroma therapies is growing at a significant rate. Moreover, many of the hospitals have also started providing various therapies and complementary & alternative medicines, especially in Norway since the year 2000.

The Middle East and Africa is estimated to be the most opportunistic market during the forecast period. The increasing penetration of naturopathy and homeopathy practitioners in the region is a major indication. The growing awareness and rising demand for Ayurveda medicines and herbs-based supplements in the Middle East is a major factor that can be held responsible for the growth of the complementary and alternative medicine market in the region.

Market Dynamics

Driver: Growing demand for natural and herbal products in developing and developed nations

It has been witnessed that consumers across the globe are increasingly opting for chemical-free organic and natural products. This trend is being witnessed in medicines too. The demand for herbal tea and herbal oil is growing rapidly in industrialized economies like India and China. Moreover, the rising demand for natural medicines in the economies like US, France, Germany, and UK is expected to have a significant impact on the growth of the global complementary and alternative medicine market. The growing burden of diseases coupled with the increasing awareness regarding the benefits of natural medicines is boosting market growth.

Restraint: Increased reliance on the modern medicines

The pharmaceutical industry is growing at a significant rate because of the increased adoption of modern medicines that can quickly cure chronic diseases like cancer, diabetes, and cardiovascular diseases. Moreover, many consumers are of the perception that allopathic medicines are far superior as compared to homeopathic and naturopathic medicines. Therefore, the increased preference for modern medicines is the major restraining factor.

Opportunity: Business expansion strategies adopted by the market players

The market players operating in the complementary and alternative medicine market are investing in business expansion strategies. These strategies also play a crucial role in advertising alternative medicines and therapies, which is expected to positively impact the market growth in the foreseeable future. For instance, in December 2019, Modern Acupuncture started its new clinic in Florida, which was the 54th acupuncture clinic in the US. This new acupuncture clinic is expected to serve the growing demand for acupuncture therapy among the US population.

Challenge: Lack of awareness and lower penetration

Complementary and alternative medicines have lower penetration across the global regions. The lack of awareness regarding the availability of homeopathic and Ayurveda centers restricts the growth of the market. The lack of awareness regarding the various CAM medicines and therapies is a major challenge for the market players. 

Key Players in the Report

  • John Schumacher Unity Woods Yoga Centre
  • The Healing Company Ltd.
  • Columbia Nutritional
  • Nordic Nutraceuticals
  • Herb Pharm
  • Sheng Chang Pharmaceutical Company
  • Pure Encapsulations, LLC.
  • RamamaniIyengar Memorial Yoga Institute
  • AYUSH AyurvedicPte Ltd.

Market Segmentation

By Intervention

  • Traditional Alternatives/Botanicals
    • Ayurveda
    • Traditional Japanese Medicines
    • Traditional Chinese Medicines
    • Traditional Mongolian Medicines
    • Bach Flower Therapy
    • Others
  • Mind Healing
    • Spiritual Mind Treatment
    • Autosuggestion
    • Neuro-linguistic Programming
    • Transcendental Meditation
    • Hypnotherapy
    • Others
  • Body Healing
    • Acupuncture
    • Acupressure
    • Chiropractic
    • Alexander Technique
    • Cupping Therapy
    • Osteopathy
    • Osteomyology
    • Yoga
    • Auriculotherapy
    • Pilates
    • Others
  • Sensory Healing
    • Music Therapy
    • Aroma Therapy
    • Sound Therapy
    • Sonopuncture
  • External Energy
    • Magnetic Therapy
    • Reiki
    • Radionics
    • Chakra Healing
    • Therapeutic Touch

By Distribution Channel

  • E-Sales
  • Direct Sales
  • Distance Correspondence
  • Others

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