Integrative Medicine Market: Current Analysis and Forecast (2022-2030)

Integrative Medicine Market: Current Analysis and Forecast (2022-2030)

The integrative medicine market refers to the various products and services offered by practitioners who incorporate both conventional and alternative approaches to healthcare. This includes a wide range of therapies, such as acupuncture, chiropractic, herbal medicine, massage therapy, and nutrition counseling. The increasing demand for alternative and complementary therapies, as well as a growing interest in natural and holistic approaches to healthcare, are important factors for the market growth of the integrative medicine market. Further, the market is also expected to continue to grow in the coming years, as more people become interested in alternative and complementary therapies and seek out practitioners who can offer a more holistic approach to healthcare.

Integrative Medicine Market is expected to grow at a strong CAGR of 22% during the forecast period owing the governmental support. For instance, as per the PIB, In 2020, the Indian System of Medicines and Ayurveda Globally, Ministry signed 13 Memorandum of Understanding on the establishment of the AYUSH Academic Chair with foreign universities/research institutes, whereby AYUSH experts are sent to prestigious universities/research institutes to carry out the teaching/training/research activities.

• Based on intervention, the market is segmented into botanicals, body healing, mind healing, external energy, and sensory healing. The botanicals segment acquired a major share in 2021. The growth is mainly driven by the growing demand for natural products and the growing interest of professionals in plant-based therapies due to their minimal side effects attributed to the high share of the segment in the market.
• Based on the distribution channel, the market is segmented into direct sales, e-sales, and distance correspondence. The e-sales segment is expected to grow with the highest CAGR during the forecast period. The rising adoption of online platforms for online shopping, along with the offers offered by these platforms is also an important reason for the market growth of the e-sales platform.
• For a better understanding of the market adoption of the industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific), Rest of World. Europe is a significant market for integrative medicine, with a growing number of people seeking out alternative and complementary therapies to supplement their conventional healthcare. Further, the region is also witnessing an increasing number of hospitals catering to integrative therapies also attributes to the growth of the market in the region.
• Some of the major players operating in the market include Columbia Nutritional; Nordic Pharmaceuticals Ltd.; Ramamani Iyengar Memorial Yoga Institute.; The Healing Company; Unity Woods Yoga; Ayush Ayurveda; Dabur India Ltd; Pure Encapsulations, LLC.; Herb Pharm.; and Rocky Mountain Oils, LLC.