According to a recent market study published by Transparency Market Research (TMR), provides its users with the essential information regarding complementary or alternative medicine (CAM) practices and its market. The users can make use of this information to strengthen their own position in the market.
One of the major reasons for the growth of the global alternative healthcare providers market is the growing number of patients that are looking towards it for better medical solutions. Patients looking for natural and gentler methods of healing are slowly moving towards the global alternative healthcare providers market.
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.
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.