A new market research report by Transparency Market Research, titled “Alternative Healthcare Providers Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” presents a 360-degree view of the global market for alternative healthcare.
Complementary or alternative medicine (CAM) is witnessing immense popularity these days. Different from mainstream healthcare, it usually refers to various medical therapies to heal or reduce physical and mental maladies. Such therapies are born out of theories, observation and experiences, and philosophies to improve health, as well as to diagnose, treat or prevent various disorders. Those suffering from chronic illnesses, namely diabetes, liver disease, cancer, and osteoporosis usually opt for such alternative therapies.
The report presents a thorough description of CAM and divides it into two broad categories. One is based on interventions such as mind-body interventions, physical manipulation, energy therapies, biologically based therapies, and alternative medical systems. The other category lists types, prominent among which are yoga, Ayurveda, homeopathy, naturopathy, acupressure, unani, and siddha.
According to a statement released by the EUROCAM, there are over 140,000 doctors that are trained in CAM or specific CAM modalities. These numbers are supported by the growing number of patients that are interested in alternative medicine. Responding to this rising interest in CAM, the World Health Assembly – the top-tier decision making body of the WHO – has suggested its member states to integrate CAM into their national and regional healthcare systems.
The global alternative healthcare providers market can be categorized on the basis of intervention therapy and type. Of these, major intervention types include energy therapies, physical manipulation, biologically based therapies, mind-body interventions, and alternative medical systems.
The types of practices available in the global alternative healthcare providers market include yoga, Ayurveda, homeopathy, naturopathy, acupuncture, and acupressure, along with others. It is through these types of medical care that CAM practitioners can provide a cure to patients without the need for constant supervision.
North America holds the largest share in the global alternative healthcare providers market from a geographical standpoint. North America is followed by Europe in terms of market size. Both regions are showing a high level of acceptance towards CAM practices. Other factors promoting the growth of the global alternative healthcare providers market include the rising prevalence of chronic diseases and the rising number of individuals with a high disposable income.
The global alternative healthcare providers market’s future, however, is expected to be guided by Asia Pacific, which is showing a rapid rate of growth. This high growth rate is attributed to a rapid rate of increase in industrial and healthcare infrastructure along with the growth of the medical tourism industry.
The key players involved in the global alternative healthcare providers market are SBL Homeopathy Medicines, Medisynth Ch. Pvt. Ltd., Hamdard Laboratories, Dabur Limited, Baidyanath Herbal, and Allen Labratories Ltd.
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