Complementary and Alternative Medicine Market Size, Share, Growth Analysis, By Intervention(traditional alternatives or botanicals, mind healing and body healing), By distribution channel(E-sales, direct sales, distance correspondence and others), By Region - Industry Forecast 2024-2031

Complementary and Alternative Medicine Market size was valued at USD 82.27 billion in 2019 and is poised to grow from USD 100.39 billion in 2023 to USD 493.67 billion by 2031, growing at a CAGR of 22.03% during the forecast period (2024-2031).

The market is expected to pick up in the upcoming years as a result of the shifting regulatory environment and vigorous government initiatives, which will lead to the establishment of solid transnational connections across healing pathways connecting international, national, and local movements regarding alternative medicine. Furthermore, government efforts looking at standards relating to the right to health in all of its manifestations are planned to support service providers' and patients' involvement in the field of complementary and alternative medicine.

By increasing targeted spending, establishing government facilities, and providing guidelines to assure proper use of complementary and alternative medicine, government activities significantly contribute to the growth of integrative health and complementary medical practices (CAM).

The promotion of medical tourism, which draws individuals from outside and enables them to get top-notch alternative medical care, is a priority of regulatory organizations. For instance, the development and standardization of alternative medical facilities in several of the states has received major funding from Indian regulatory bodies. In order to oversee the teaching, product creation, research, and other services related to yoga, Ayurveda, homeopathy, and naturopathy in India, a government organization called the "Ministry of Ayush" has been established.

US Complementary and Alternative Medicine Market is poised to grow at a sustainable CAGR for the next forecast year.