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HEALTHCARE & PHARMACEUTICAL

Integrative Medicines (IM) Market Segmentation by Intervention (Botanicals, Body Healing, Mind Healing, External Energy, and Sensory Healing); and by Sales Channel (Direct Sales, E-Sales, and Distance Correspondence) – Global Demand Analysis and Opportunity Outlook 2030

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Extensive insights into the Growth of Integrative Medicines (IM) Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • February 2019: Dabur India Ltd, announced the launch of two integrative medicines, a health restorative called Ratnaprash, and Hridayasava, a medicine to improve heart health. The mission of the product launch was to popularize Ayurveda among the modern-day consumers.

Global Integrative Medicines (IM) Market Highlights 2022-2030

The global integrative medicines (IM) market is estimated to grow with a high CAGR during the forecast period, i.e., 2022-2030. Extensive research associated with the rising elderly population globally and the growing investments in the development of alternative treatment methodologies are expected to boost the growth of this market in the upcoming years. The market’s growth can also be attributed to factors such as the increasing awareness and concerns regarding mental health and the rising prevalence of chronic diseases amongst individuals around the world. According to the International Diabetes Federation (IDF), in 2019, 463 million estimated adults aged between 20-79 years were suffering from diabetes, and by 2045 the number is expected to rise to 700 million. Along with these, rising initiatives by government agencies to explore norms related to the betterment of mental & physical health is projected to offer lucrative opportunities to the market in the near future. For instance, the Indian regulatory authorities have made substantial investments in the progress and normalization of integrative medical facilities in some of the states. A government agency, known as the "Ministry of Ayush" has been set up that superintends education, development, product, research, and other Ayurveda facilities, yoga, homeopathy, and naturopathy in India.

Integrative Medicines (IM) Market Graph

The market is segmented by intervention into botanicals, body healing, mind healing, external energy, and sensory healing, out of which, the botanicals segment is expected to hold the largest share by the end of 2030 on account of higher positive results and increasing trend of using aromatherapy, acupuncture, and other therapies worldwide. Moreover, increasing focus and initiatives of regulatory bodies towards medical tourism are also projected to contribute to the growth of the market segment during the forecast period. Additionally, based on sales channels, the direct sales segment is anticipated to hold the largest share in the global integrative medicines (IM) market on the back of growing adoption of natural and organic-based medications in the market.CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Healthcare Expenditure Graph

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Integrative Medicines (IM) Market Regional Synopsis

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa. The market in the Middle East & Africa is predicted to grow at the highest CAGR over the forecast period on account of the rising prevalence of chronic disorders such as cancer, cardiovascular disorders, and neurological diseases in the region. Furthermore, the market in Europe is evaluated to hold the largest share during the forecast period on the back of increasing cases of diabetes and the strong presence of leading integrative medicine service providers in the region. As per the Organisation for Economic Cooperation and Development (OECD) analysis, approximately 32.3 million adults in the European Union were diagnosed with diabetes in the year 2019. The market in Europe is also anticipated to witness growth on account of the proven success of its healthcare providers in terms of therapy development.

The global integrative medicines (IM) market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global integrative medicines (IM) market includes the following segments:

By Intervention

  • Botanicals
    • Ayurveda
    • Apitherapy
    • Bach Flower Therapy
    • Naturopathic Medicine
    • Others
  • Body Healing
    • Acupuncture
    • Yoga
    • Radionics
    • Therapeutic Touch
    • Others
  • Mind Healing
    • Autosuggestion
    • Hypnotherapy
    • Neuro-linguistic Programming
    • Self-hypnosis
    • Others
  • External Energy
    • Magnetic Therapy
    • Chakra Healing
    • Others
  • Sensory Healing
    • Aromatherapy
    • Music therapy
    • Sound Therapy
    • Others

By Sales Channel

  • Direct Sales
  • E-Sales
  • Distance Correspondence

Growth Drivers

  • Rising Adoption of Natural Remedies
  • Increasing Geriatric Population in the World

Challenges

  • Poor Understanding of Integrative Medicine
  • Lack of Scientific Results Associated with the Use of IM

Top Featured Companies Dominating the Market

  •  Columbia Nutritional
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • The Healing Company Ltd.
  • Aphria Inc.
  • Nordic Nutraceuticals
  • Ayush Ayurvedic Pte Ltd
  • Pure Encapsulations, LLC.
  • Dabur India Ltd
  • Rocky Mountain Oils
  • Sydler India Pvt. Ltd. 

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