The article has published by Mordor Intelligence and Covers Global Complementary and
Alternative Medicines Companies and the Market is Segmented by Type ,Application,
Distribution Channel and Geography. The Market Size and Forecast Values are Provided in
Terms of (USD) for all the Above Segments.
The Global Complementary And Alternative Medicines Market size is estimated at USD 229.90
billion in 2024, and is expected to reach USD 299.30 billion by 2029, growing at a CAGR of
5.42% during the forecast period (2024-2029).
COVID-19 has impacted the growth of the complementary and alternative medicines market.
The pandemic has led to a surge in the demand and supply of CAMs and practices. For instance,
according to an article published by the Elsevier Public Health Emergency Collection, in March
2022, it has been observed that up to 70% of low- and middle-income nations (LMICs) were
estimated to employ CAM exclusively or primarily to treat their medical issues. In addition, the
government has approved various traditional medicines to treat COVID-19 during the pandemic.
For instance, the China FDA approved Xuebijing with a treatment indication of new coronavirus
pneumonia with severe and critical systemic inflammatory response syndrome or/and multiple
organ failure.
