The complementary and alternative medicine (CAM) market was valued at $100.04B in 2021 and is expected to reach $477.29B by 2029, registering a CAGR of 21.57% during the forecast period of 2022 to 2029, according to a report by Data Bridge Market Research.
Medical products and practices that are not considered a part of traditional or mainstream medical therapy are referred to as (CAM). The CAM field includes self-administered items and activities, including homeopathic remedies, herbal medications, dietary supplements, yoga, chiropractic, acupuncture, and massage therapy. Manipulative and body-based therapies, biofield therapy, and entire medical systems are all included.
In recent years, the complementary and alternative medicine market is anticipated to grow rapidly during the forecast period. Approximately two-thirds of the population in most industrialized and developing nations has reported using alternative or complementary medicine. Several countries are moving toward the legalization of alternative medicine and therapies that are substantiated by clinical evidence. Complementary and alternative therapies are utilized to treat chronic illnesses, long-term discomfort, and supplementary vitamins and food supplementation in addition to a conventional diet.