(PharmaNewsWire.Com, July 26, 2024 ) As per Maximize Market research, the Global Complementary and Alternative Medicine Market size was valued at USD 135.14 Billion in 2023 and the revenue is expected to grow by 17.9% from 2024 to 2030, reaching nearly USD 362.96 Billion by 2030.
Complementary and Alternative Medicine (CAM) market is experiencing significant growth, driven by the rising prevalence of chronic diseases and an expanding geriatric population. Public interest in CAM is increasing due to the high costs and side effects of conventional medicine, prompting more research and development in this field. Key drivers include the adoption of traditional healing techniques, such as Ayurveda and acupuncture, and the growth of innovative therapies.
North America, the complementary and alternative medicine market leads due to an increasing population with significant disorders and escalating healthcare expenditure. These factors continue to drive the Global market growth in North America. From 2021 to 2028, the complementary and alternative medicine industry in the Middle East and Africa is expected to experience the fastest growth.
Global Complementary and Alternative Medicine Market Segmentation
Global Complementary and Alternative Medicine Market Key Players:
Pure Encapsulations, Inc.(US)
Nordic Naturals(US)
Unity Woods Yoga Center(US)
Quantum Touch(US)
Geriatric & Medical Companies, Inc.,(US)
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