Dr. Chidambaram Tamilselvan
Bioscience Research Foundation, India, E-mail: drselvan@brfchennai.com
The global complementary and alternative medicine market size was valued at USD 59.76 billion in 2018 and is anticipated to expand at a CAGR of 17.07% during the forecast period. Increasing awareness regarding traditional therapy methods is projected to drive the growth. In 2018, it was estimated that more than 60% of global population use some or the other form of traditional medicine.
Complementary and alternative medicine involves application of traditional methods of medication such as herbs and other mind and body healing techniques mostly based on the faith and belief. Most of the techniques used in alternative medical treatment are not approved by many regulatory bodies around the world. Many governments and regulatory bodies have put up efforts in finding clinical support for the incorporation into alternative treatments to help improve the market and treatment methods.
Most alternative therapies include long time medication and are mostly used for chronic pains and illnesses. A surge in the number of studios and outlets in the form of start-ups and well-established firms offering dietary herbal supplements and many other accessories needed for the therapies is likely to boost the market during the forecast period.
Most research has concentrated on clinical and trial prescription (security, adequacy, and system of activity) and administrative issues, to the general disregard of general wellbeing measurements. General wellbeing research must think about social, social, political, and monetary settings to augment the commitment of T/CAM to human services frameworks all inclusive.
The Development OF Open enthusiasm for and utilization of traditional medication and correlative and Alternative drugs (T/CAM) has been all around reported. Half the populace in many industrialized nations currently frequently utilize some type of T/CAM (Joined States, 42%1; Australia, 48%2; France, 49%3; Canada, 70%4), and extensive utilize exists in many creating nations (China, 40%; Chile, 71%; Colombia, 40%; up to 80% in African countries5,6). Well known utilization of T/CAM has been joined by a development in research and related writing, with an expansion in a proof based methodology over the past decade.7 In creating nations, where T/CAM has for some time been drilled both inside and outside the overwhelming medicinal services framework, intrigue has been working over the previous decade for an arrangement structure for T/CAM inside national social insurance frameworks, and a few rules have been made.
Government efforts to encourage usage of the medicine is driving the complementary and alternative medicine market in several regions. However, lack of approved clinical support can hinder the growth as regulatory bodies from developed regions restrict the usage of these medicines and therapies.
Scope:
Alternative medicine is a broad field encompassing many forms of non-traditional medicine, including herbal and homeopathic medicines, acupuncture, and new age healing. Education in this field varies from certification to a PhD, depending on which specialization an alternative medicine practitioner chooses. Alternative medicine is the perfect field for those hoping to help heal people with methods not traditional to Western medicine.
Target Audience:
• Directors, CEO’s of Organizations
• Business Development Managers
• Chief Scientific Officers
• R&D Researchers from Pharma Industries
• Professors, Associate Professors, Assistant
Professors
• PhD Scholars
• Patent Attorneys
• Investment Analysts
• Association, Association presidents and professionals
• Noble laureates in Health Care and Medicine
• Software development companies
• Research Institutes and members
• Supply Chain companies
• Manufacturing Companies
• CRO and DATA management Companies
• Training Institutes
• Business Entrepreneurs
Related Companies/Industries:
• Abbott
• AMEDTEC
• AtriCure
• Bexen Cardio
• Bionet
• Biosense Webster
• Biotronik
• Boston Scientific
• BTL
• Cardiac Science
• CardiAid
• CardioLine
• Carewell
• CathVision
• Defibtech
• ERT
• Farum
• Fukuda Denshi
• GE Healthcare
• General Meditech
• Imricor Medical Systems
• JJET
• Kalamed
• Lepu Medical
• Lumed
• MDE Diagnostics
• MEDICO S.p.A.
• Medicomp
Related Associations and Societies:
• AAAOM - American Association of Acupuncture& Oriental Medicine.
• AAMA - The American Alternative Medicine Association.
• AANP - American Association of Naturopathic Physicians.
• AHHA - American Holistic Health Association.
• Alternative Medicine Foundation
• National Certification Commission for Acupuncture and Oriental Medicine
• National Certification Board for Therapeutic Massage and Bodywork
• American Society of Clinical Hypnosis
• National Center for Alternative and Complementary Health (NCCAM)
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