Product ID: SQMIG35I2163
Report ID:
SQMIG35I2163 |
Region:
Global |
Published Date: February, 2024
Pages:
263
|
Tables:
62 |
Figures:
70
Europe held the largest share of the global complementary and alternative medicine market in 2021. The rise of the CAM business in Europe has been aided by consumers' greater use of alternative therapies and declining reliance on current pharmaceuticals. Additionally, as consumers become more aware of the long-term negative consequences of chemically based medications, they are turning to herbal, Ayurvedic, and naturopathic remedies. Additionally, it is predicted that the growing popularity of acupuncture and yoga in Europe will maintain the region's prominence in the market for the duration of the projected period. In addition, during the past 20 years, hospitals offering complementary and alternative treatment have increased in number across Europe.
During the projection period, the Middle East and Africa region is anticipated to be the fastest-growing market. From 2022 to 2028, it is anticipated to grow at the fastest CAGR of 24.78%. This is linked to a sharp rise in the number of practitioners of alternative medicine in the area. Additionally, the Middle East's growing demand for herbal treatments is anticipated to have a substantial influence on market expansion.
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REQUEST FREE CUSTOMIZATIONComplementary and Alternative Medicine Market size was valued at USD 82.27 billion in 2019 and is poised to grow from USD 100.39 billion in 2023 to USD 493.67 billion by 2031, growing at a CAGR of 22.03% during the forecast period (2024-2031).
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Product ID: SQMIG35I2163