Complementary or Alternative medicine(CAM) refers to different
medical therapies and systems outside of conventional healthcare to
improve and treat the mental and physical illness.CAM therapies are
based on the knowledge, practices and skills derived from theories,
experiences and philosophies to improve and maintain health, as well
as to diagnose, prevent, and treat various disorders. Alternative healthcare providers offer a variety of medical and healthcare
systems, products and practices used by patients without medical
supervision. CAM therapies are particularly used by people with
chronic illnesses and pain, such as liver disease, diabetes,
osteoporosis, and cancer. Alternative system of healthcare include
Ayurveda, unani medicines, yoga, acupuncture, homeopathic medicines
and others systems of healthcare.
Complementary or Alternative medicine can be categorized on the
basis of
Intervention
> Alternative medical systems
> Mind-body interventions
> Biologically based therapies
> Physical manipulation
> Energy therapies.
Types
> Ayurveda
> Yoga
> Naturopathy
> Homeopathy
> Unani
> Siddha
> Acupressure
> Acupuncture
Now a days, people are evidently looking for more gentle and natural
methods of healing and thus are increasingly supporting different
types of CAM therapies within existing healthcare systems that will
subsequently lead to the growth of alternative healthcare providers
market. According to an article published by the EUROCAM, an
association of European CAM organizations, currently, CAM is
practiced by around 145,000 doctors trained in conventional medicine
and a particular CAM modality. The rising awareness and interest of
healthcare professionals in CAM therapies is expected to drive the
market of alternative healthcare providers market. Moreover, the
World Health Assembly, the supreme decision-making body of the World
Health Organization WHO has urged its member states to integrate CAM
and traditional medicine within national healthcare system. This
would further boost the market for alternative healthcare providers.
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The global alternative healthcare providers market is witnessing an
admirable growth due to medical advancements, high number of research
activities in this segment and increasing prevalence of chronic
diseases. The increasing prevalence of different cancers in developed
as well as developing countries has resulted in a significant growth
in alternative healthcare providers market. According to WHO, 14.1
million new cases of cancer were observed and 8.2 million deaths
occurred throughout the world in 2012. This significant rise in
cancer incidence has driven the growth of CAM therapies. However,
lack of awareness and unregulated market may hinder the growth of
alternative healthcare providers market.
In terms of geography, alternative healthcare providers market is
segmented into North America, Europe, Asia Pacific, Latin America and
Middle East. Among these regions, North accounts for the largest
share of alternative healthcare providers market due to increasing
awareness about various CAM therapies among people and rising
prevalence of chronic disorders such as diabetes, hypertension and
cancer. Europe accounts for the second largest market for alternative
healthcare providers owing to high acceptability of various CAM
therapies, rising incidence chronic diseases and high disposable
income. However, Asia Pacific market is expected to witness positive
growth due to high rate of development in healthcare industry, rising
demand for herbal and natural medicines and growing medical tourism
industry.
The global alternative healthcare providers market is highly
fragmented due to the participation of mid-sized and small sized
manufacturers. Some of the major players in alternative healthcare
providers market includes Allen Labratories Ltd. Baidyanath Herbal,
Dabur Limited, Hamdard Laboratories, Medisynth Ch. Pvt. Ltd., and SBL
Homeopathy Medicines.
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