New Market Research Reveals Surging Global Demand for Complementary and Alternative Medicine

Posted on: Friday, March 29th 2024 at 3:15 pm

Written By: 

GMI Reporter

In a world increasingly disillusioned with the limitations of conventional healthcare, a quiet revolution is underway. From the bustling streets of Beijing to the serene yoga studios of New York, people are turning to traditional and complementary medicine in record numbers, seeking a more holistic, natural approach to healing. This profound shift, driven by a growing body of scientific evidence and a collective yearning for wellness, is poised to transform the global health landscape in ways we are only beginning to understand.

A recent market analysis report titled "Global Complementary And Alternative Medicine Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis" unveils a profound shift in consumer preferences towards natural healing modalities and complementary and alternative medicine (CAM). The report projects the global CAM market to soar from USD 108.7 billion in 2023 to an astounding USD 192.41 billion by 2028, reflecting a robust compound annual growth rate (CAGR) of 12.1%.

This surge in demand for alternative therapies is driven by a confluence of factors, including increasing consumer preference for natural and organic products, advancements in CAM therapies, and growing global awareness about the health benefits of these approaches. The Covid-19 pandemic has further accelerated this trend, as individuals prioritize personal health and wellness in the face of unprecedented challenges.

The report's findings are echoed by the tremendous popularity of Greenmedinfo.com, a leading open-source database of evidence-based research on natural medicine. Founded in 2008 by Sayer Ji, the website has attracted over 250 million visitors from around the world, underscoring the universal appeal of scientifically validated information on alternative healing modalities. Greenmedinfo.com's vast repository of over 100,000 studies and articles covering more than 10,000 natural health topics serves as a testament to the growing body of evidence supporting the efficacy of traditional and complementary therapies.

A recent report published by Greenmedinfo.com further highlights the profound magnitude of this shift towards natural healing. The article cites data from the WHO Global Report on Traditional and Complementary Medicine (2019), revealing that 88% of WHO Member States, representing 170 countries, acknowledge the use of traditional and complementary medicine. Usage rates vary by country, with notable figures such as 28% in urban India, 24% in Switzerland, South Africa, and China, and 21% in the United States expressing a preference for alternative therapies over conventional Western medicine.

The integration of traditional and complementary medicine into national health policies and regulations is also on the rise, with 98 WHO Member States having developed T&CM policies, 109 launching laws or regulations, and 124 implementing regulations on herbal medicines as of 2018. This growing recognition of the role of T&CM in meeting global health needs is further supported by a growing body of scientific evidence, with research demonstrating the effectiveness of practices such as yoga for chronic back pain, acupuncture for pain relief, and even ancient wisdom like Ayurvedic phototherapy for jaundice finding parallels in modern medical treatments.

As the evidence base for traditional and complementary medicine continues to expand, the potential for these approaches to transform global health is immense. By providing safe, effective, and affordable options for health promotion and disease prevention, CAM therapies offer a promising avenue for expanding access to care, containing costs, and improving patient well-being. The market analysis report and the ongoing work of organizations like Greenmedinfo.com serve as powerful reminders of the profound shift towards natural healing that is reshaping the global health landscape.

To learn more about the science of natural healing, visit the www.Greenmedinfo.com open source database. 

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Disclaimer: This article is not intended to provide medical advice, diagnosis or treatment. Views expressed here do not necessarily reflect those of GreenMedInfo or its staff.