Research Nester released a report titled “Integrative Medicines (IM) Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global integrative medicines (IM) market in terms of market segmentation by intervention, sales channel, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global integrative medicines (IM) market is projected to grow with a high CAGR during the forecast period, i.e., 2022-2030 on account of the increasing elderly population and rising prevalence of chronic diseases. In addition, rising investment to develop alternative treatment methodologies and growing awareness about mental health are also expected to drive market growth in the future.
The market is segmented by intervention into botanicals, body healing, mind healing, external energy, and sensory healing. Among these segments, the botanicals segment is anticipated to hold the largest share during the forecast period attributing to the increasing adoption of natural remedies such as Ayurveda and homeopathy worldwide. The segment is also estimated to observe growth owing to the worldwide recognition for its pain free, needle-less and continuous process.
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On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the integrative medicines (IM) market in the Middle East & Africa is projected to grow at the highest CAGR throughout the forecast period owing to the rising awareness regarding IM. Moreover, the market in Europe is predicted to hold the largest share, which can be attributed to the presence of leading integrative medicine providers in the region.
Increasing Ageing Population and Growing Adoption of Natural Therapies to Drive Market Growth
According to the data collected from the United Nations, it is expected that by the year 2050, every one out of six individuals will be 65 years or older, which accounts for 16% of the total population of the world. Additionally, the number of individuals above 80 years or older is also expected to triple by the end of the year 2050.
Age is one of the most predominant risk factors for chronic and mental disorders. As the population of the globe is ageing at a rapid pace, the cardiovascular diseases, cancer, diabetes, and others is also expected to rise. This in turn is projected to boost the market growth in the forthcoming years.
However, lack of understanding about integrative medicines and poor scientific results are some of the factors that are estimated to restrain market growth in the forecast period.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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This report also provides the existing competitive scenario of some of the key players of the global integrative medicines (IM) market, which includes company profiling of Columbia Nutritional, 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, and others. The profiling enfolds essential information of the companies, which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global integrative medicines (IM) market that will help industry consultants, equipment manufacturers, and existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
