Complementary And Alternative Medicines Market Growth | 2022-27

 

Market Overview:

Over the course of the study’s forecast period, the market for complementary and alternative medicines is anticipated to grow at a 19.5% CAGR (2022–2027).

The global response to the COVID-19 pandemic was unprepared. Due to the high infection rate and lack of treatment, it severely disrupted the global healthcare system and had an effect on the market for complementary and alternative medicines. People used complementary and alternative medicines for treatment and prevention because there were no effective therapeutics for COVID-19. For instance, in the research study written by Mahlagha Dehghan and colleagues.

About 84% of study participants used at least one type of complementary and alternative medicines (CAMs) during the COVID-19 outbreak in Iran, according to a study published in January 2022 in “The Journal of Integrative Medicine.” Furthermore, according to the same source, dietary supplements (61.3%), prayer (57.9%), and herbal medicines (48.8%) were the most popular CAMs. Most people (50–66%) have used CAMs to stop the spread of COVID-19 or to lessen anxiety brought on by the pandemic. As a result, during the study’s forecast period, the COVID-19 pandemic is anticipated to have a significant impact on the market for complementary and alternative medicines.

Scope of the Report:

As per the scope of the report, the medical items and practices that are not considered part of conventional or mainstream medical therapy are referred to as complementary and alternative medicine (CAM). It combines self-administered items and activities such as herbal medications, homeopathic remedies, dietary supplements, yoga, chiropractic, massage therapy, and acupuncture. Manipulative and body-based therapies, biofield therapy, and entire medical systems are all included.

The complementary and alternative medicines market is segmented by type (traditional alternative therapies, body therapy, mind therapy, sensory therapy, and other types), by application (arthritis, cancer, diabetes, cardiovascular, neurology, and other applications), by distribution channel (direct sales, online sales, and distance correspondence), and by geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (USD million) for the above segments.

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