Complementary and Alternative Medicine Market Size, Share, Growth, Structure and Analysis by 2022-2027 This Is Ardee – This Is Ardee

According to IMARC Groups latest report, titled Complementary and Alternative Medicine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027, the global market reached a value of US$ 100.04 Billion in 2021. Complementary and alternative medicine (CAM) represents a range of therapeutic products and diagnostic procedures that are not considered part of mainstream medical therapies. It encompasses homeopathic remedies, self-administered tools, bio-field therapy, naturopathy, acupuncture, and dietary supplements. CAM alleviates muscle tension, improves wound healing, provides relaxation, and reduces stress, pain, and anxiety. As a result, it is generally used alongside conventional medicines to treat various chronic ailments and common side effects.

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The global CAM market is primarily driven by the increasing prevalence of neurological disorders, especially amongst the geriatric population. This is further supported by shifting preferences toward natural medicines owing to their several beneficial properties. Additionally, the rising health concerns and the coronavirus disease (COVID-19) pandemic have prompted governments to invest in pharmaceutical companies to develop alternative natural drugs for treating patients, which is propelling the market growth. Other factors, such as significant improvements in the healthcare infrastructure, extensive medical tourism promotion, and ongoing research and development (R&D) activities to introduce CAM with enhanced efficacy, are contributing to the market growth. Looking forward, IMARC Group expects the global complementary and alternative medicine market to reach US$ 315.5 Billion by 2027, exhibiting a CAGR of 20.8% during 2022-2027.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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Complementary and Alternative Medicine Market Size, Share, Growth, Structure and Analysis by 2022-2027 This Is Ardee - This Is Ardee