Integrative Medicines (IM) Market Segmentation:
Intervention Segment Analysis
The global integrative medicines (IM) market is segmented and analyzed for demand and supply by intervention into botanicals, body healing, mind healing, external energy, and sensory healing. Out of the five interventions, the botanicals segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the higher positive results and increasing consumption of ayurvedic medicines and products. Ayurveda is experiencing a renaissance in India and throughout the world. Moreover, in 2023 government anticipated that demand of ayurvedic products is likely to increase three times and jump from around USD 3 billion to nearly USD 8 billion. In addition to this, in the United States, around 240,000 use ayurvedic medicines. Moreover, increasing focus on naturopathic practice are also projected to contribute to the growth of the market segment during the forecast period. Naturopaths are in practice in more than 98 nations worldwide, accounting for 36% of all nations and every continent.
Sales Channel Segment Analysis
The global integrative medicines (IM) market is also segmented and analyzed for demand and supply by sales channel into direct sales, e-sales, and distance correspondence. Amongst these three segments, the e-sales segment is expected to garner a significant share by the end of 2035. In 2020, the sale of herbal dietary supplements in the United States topped for the first time from nearly USD 10 billion, reaching around USD 12 billion. Moreover, higher offline sales of medicines are also expected to boost segment growth. In the around USD 22–USD 24 billion domestic pharmaceutical sector, the majority of medicine sales take place in offline retail pharmacies.
Our in-depth analysis of the global market includes the following segments:
|
By Intervention |
|
|
By Sales Channel |
|
