Inhale
the future, exhale the past….
So
goes a saying in yoga, which means to embrace the present and what’s about to
come, and leave the past behind and every baggage that came with it. It goes
without saying that Yoga has widely come to be integrated into many a
person’s daily routine, crossing the boundaries of both region, and
religion. However, it is not only yoga that has captured the attention of the
global citizen. Tai-chi, homeopathy, Ayurveda and reiki are some of the
other phenomenon that have caught the world by storm. Exactly what are
they, and how have they managed to convince people to practice them?
To
answer simply, they are all forms that come under the concept of Complementary
and Alternative Medicines (CAM). The next question would be, what exactly is
this ‘CAM’? Simply put, complementary and alternative treatment include
a number of traditional medicinal treatments where a disease is attended to
with the help of organic products, natural methods, and faith healing. They
are generally used in the treatment of chronic ailments and pains.
CAM
- On A Blazing Trail…
Most
prominent forms of complementary and alternative medicine in usage include
application of ayurvedic medicine and naturopathic treatment, acupuncture, mind/body
healing, yoga and magnetic intervention. Ayurveda and
Naturopathic treatment involves usage of nature derived products that are
believed to possess therapeutic properties for various medical conditions.
Although the various forms of alternative medicine seem to be viable treatment
options, they seldom have any documented and/or approved backing from any
clinical data, and work on word-of-mouth and personal faith.
The complementary and alternative medicine market has been
classified according to the medium of their application, that is, whether they
are traditionally used, or body healing, external energy, mind healing, or
through the use of diet and herbs. Another form of treatment is through the
senses.
- Traditional
complementary and alternative medicine - Includes therapies and
practices that have been practiced for centuries, and are more mainstream
as compared to other CAM types. Examples are acupuncture,
Ayurveda, homeopathy, naturopathy, and Chinese or Oriental medicine.
- Body healing -
Is based on the idea that injury or illness in one area of the body
adversely affects other bodily functions. Steps involve the use of manual
manipulation so that the other body parts can be brought back to their
normal functioning, which would allow full focus on the actual site of
injury or illness. Often, body healing techniques are combined with those
of the mind. Examples of this type include massage, tai chi, yoga,
body movement therapies, and chiropractic & osteopathic medicine.
- Diets and herbs -
Today’s society is plagued with health issues on account of the shift
towards food substances that are rich in oils, fats and complex
carbohydrates. Previously, a person’s diet simply consisted of fruits,
meat, vegetables and grains, which provided high nutritional value to the
body. That is why this complementary and alternative medicine technique is
making a big return, especially among the current working population who
really need to maintain their physique and health. The approach includes
herbal medicines, dietary supplements and nutrition/diet.
- External Energy -
It is an age-old ad popular belief that external energies from various
sources have a direct bearing on a person’s health. Techniques such
as electromagnetic therapy, Reiki and Qigong help in
quietening the mind and removing and releasing the blocked energies, thus
helping the body, mind and spirit to reach balance and harmony.
- Mind - A
healthy mind resides in a healthy body, it is said. There’s no better way
to put forth the dependence that one has on other. This is even recognized
by conventional science, and studies have proved that the healing process
is faster and smoother if a person has positive emotional and mental
health. Meditation, biofeedback and hypnosis are some of
the techniques that are involved in the exercise of the mind.
- Senses - A
relatively different approach in the complementary and alternative medicine
market that makes use of art, dance and music forms, as well as
visualization and guided imagery, to improve overall health. This
technique makes use of the five human senses of touch, sight, hearing,
taste and smell.
Alternative
Medicine and Advancements
These treatment forms have a history that
dates a long way back into time and a number of them have documented origins in
key Asia Pacific countries like India, China, and Japan. The
techniques were limited to Asian countries for a considerable amount of time;
however, they have rapidly gained popularity almost all over the world.
Earlier, the practitioners of complementary and alternative medicines were
considered as quacks; however, now it is rapidly being recognized across the
globe as a genuine practice, with licensing being applied in this space.
A study by the National Center for
Health Statistics (NCHS) and the NCCIH in 2017 found
that in the United States:
- Adults showed an increase in the usage of complementary health
practices, when compared to 2017.
- Yoga, meditation and chiropractor visits all witnessed a rise in these
five years, with meditation showing a three-fold increase from 4.1% in
2012 to 14.2% in 2017.
- Gender-wise, all of these alternative complementary and alternative
medicine approaches have seen a higher acceptance in the female population
of the country, with yoga showing the highest disparity in terms of
percentage adoption in males and females (8.6% for males vs. 19.8% for
females).
Alternative medicines have seen both support
and opposition in every country. Several governments are taking steps to
introduce alternative medicine as legal form to improve lives of people. For
instance, the government of India launched the “AYUSH” ministry in 2014
that is expected to support and develop alternative forms of medicine and
improve the medical tourism in the field of alternative medicine.
The department saw huge allocation of funds in the 2017-18 budget, to the tune
of ₹ 1428.7 crore. Several scientific bodies are striving to develop scientific
support for the claims made by naturalists and followers claiming the medical
effects of complementary and alternative medicine.
There have also been many incidents where
complementary and alternative medicine practices have been used illegally, as
in a recent case of a practitioner in the U.S. state of Virginia who was caught
practicing without a license, leading to him being sentenced to 12 months in
jail. Also, with the growing threat of coronavirus, there has been a boom in
the number of false claims about alternative medicines helping in combating the
virus without any substantiated proof, which is harming the image of genuine
complementary and alternative medicine practices.
Complementary
And Alternative Medicine: Market Snapshot
A recent report by Grand View Research has
projected the complementary and alternative medicine market to be worth USD
296.3 billion by 2027, progressing at an astonishing CAGR of almost
20%. The key drivers impacting the growth of this industry include:
- Increasing adoption of alternative medicine across developing
countries
- China and India have heavily contributed to the growth of the Asia
Pacific region, and are expected to continue generating major revenue
- A rapid rise in the number of trained physicians in complementary
and alternative medicine space is expected to shift patient preference
towards these forms of treatment
- Integration of technological advancements
- Government initiatives to improve and provide scientific back-up
We have segmented the Complementary And
Alternative Medicine market based on intervention type for
which it is used:
- Botanicals (Ayurveda, Naturopathy and Homeopathy), Acupuncture,
Mind, Body & Yoga and Magnetic Intervention. Botanicals held a
significant share in 2019 and are likely to grow at a steady CAGR over the
forecast years, while magnetic intervention has been projected to show
fastest growth through 2027.
- The market is also segmented on the basis of distribution
channels, into direct sales, e-sales and distance correspondence,
wherein direct sales have dominated with almost three-quarters of the
market share.
Some of the major complementary and
alternative medicine market players include Nordic Nutraceuticals, Columbia
Nutritional, Ramamani Iyengar Memorial Yoga Institute, Herb Pharm, John
Schumacher Unity Woods Yoga Centre, Pure Encapsulations, LLC., The Healing
Company Ltd, AYUSH Ayurvedic Pte Ltd, and Sheng Chang Pharmaceutical Company.
- The U.S. state of Los Angeles saw a listing
platform called “WellSet” being launched in March 2020, which
caters to the alternative and holistic healthcare market. The
service makes it easy for customers to find acupuncturists, therapists, nutritionists, life
coaches and the likes for their line of complementary and
alternative medicine treatment.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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