The Alternative Medicines Therapies Market To Be Swept By Inorganic Growth (M&A,

Posted by Ashish on February 8th, 2021

Alternative medicines and therapies refer to natural method of treatment which is different from conventional or pharmaceutical medicines. Alternative medical treatment includes non-mineral, non-vitamin and natural substances.

On the basis of modality, alternative medicine market can be segmented into homeopathic medicine, herbal medicine, naturopathy, acupuncture, traditional Chinese medicine, ayurvedic medicine and others. Alternative therapies include magnetic therapy, herbal therapies, yoga, mud therapy and oil massage therapy, deep breathing exercise, osteopathic manipulation and meditation. Alternative medicines and therapies are used in chronic diseases, neurological diseases, reducing pain and depression and others.

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Europe, followed by Asia and North America has the largest market for alternative medicines and therapies due rise in adoption of alternative medicines and natural therapies and technological advancement for drug development in this region.

In addition, Japan is expected to show high growth rate in the alternative medicines and therapies market in next five years due to rise in aging population and high spending in alternative medicines and therapies in the region.

Increasing adoption of alternative medicines and natural therapies, technological advancement, rise in ageing population, ease to reach, increasing healthcare expenditure, government initiatives and rise in adoption of alternative medicines and therapies such as biosimilars are expected to drive the market for alternative medicines and therapies.