Global Alternative and Complementary Medicine Market to Reach $979.4 Billion by 2030
The global market for Alternative and Complementary Medicine estimated at US$217.8 Billion in the year 2023, is expected to reach US$979.4 Billion by 2030, growing at a CAGR of 24% over the analysis period 2023-2030. Botanicals, one of the segments analyzed in the report, is expected to record a 23.9% CAGR and reach US$394 Billion by the end of the analysis period. Growth in the Mind & Body Healing segment is estimated at 25.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $55.2 Billion, While China is Forecast to Grow at 29.9% CAGR
The Alternative and Complementary Medicine market in the U.S. is estimated at US$55.2 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$276.3 Billion by the year 2030 trailing a CAGR of 29.9% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.2% and 20.5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 18.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$178 Billion by the year 2030.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook