by The global complementary and alternative medicine for anti aging & longevity market size was valued at USD 36.91 billion in 2020, and is predicted to be worth around USD 190.02 billion by 2030, registering a CAGR of 23.2% during the forecast period 2022 to 2030.
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Growth Factors
Growing household income in developed countries, acceptance of herbal and ayurvedic medicine, and increasing age-related diseases have majorly the market for complementary and alternative medicine (CAM) for anti aging and longevity.
The rising aging population and diseases associated with it are the key factors expected to drive the market for complementary and alternative medicine (CAM) for antiaging and longevity. COVID-19 has encouraged the use of yoga in a sedentary lifestyle-oriented population. Since corporate companies adopted remote work owing to COVID-19, some organizations such as Citi, BlueBeam, 3M, and SAP prioritized virtual wellness programs to improve the stress and anxiety level of working from home. For instance, BlueBeam offered yoga and Tai Chi classes, incentive-based fitness challenges, and chair massage during the COVID-19 pandemic lockdown.
Report Coverage
| Report Scope | Details |
| Market Size | US$ 190.02 billion by 2030 |
| Growth Rate | CAGR of 23.2% From 2022 to 2030 |
| Largest Market | Europe |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | Intervention, Customer |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Anadolu Medical Center, Sinomedica, Acupuncture Enfants, Ayurveda Kuwait, Maya Reiki School, Maylilacs, Al Zuhair Holistic Medicine Center, Ayurmana By Dharma Ayurveda, Trinicum, Miskawaan Health Group, Therme Wien |
By Intervention Analysis
The traditional alternative medicine or botanicals segment accounted for the largest revenue share of over 30.0% in 2020. As the regulatory guidelines to start a business in this market are relatively relaxed than pharmaceutical companies, key players are interested in investments in CAM therapies.
Tai Chi is a form of relaxation exercise that helps improve stability, balance, and flexibility in older people, particularly patients with Parkinson’s disease. According to a research article published in 2021.
Technological advancements in sensory healing are boosting segment growth. For instance, HUSO is a sound healing system that employs acupuncture meridians to manage and harmonize the body along with a tone that deals with stress and toxic electromagnetic fields.
The increasing consumer awareness regarding the benefits of CAM products and the rising adoption of new sensory healing technology in hospitals and clinics are anticipated to drive the market. However
By Customer Analysis
The others segment dominated the market and held a revenue share of over 90.0% in 2020. The high net worth (HNW) individuals segment held the second-largest revenue share in 2020.
The segment is also projected to register the fastest growth rate from 2021 to 2030. An individual with a net worth between USD 1 to 5 million falls under this category.
The out-of-pocket expenditure on complementary medicine and therapies discourage low- and middle-income households to enter the market.
Rising income level in the economies is anticipated to drive the high net worth (HNW) individuals segment since various emerging economies consider CAM products for antiaging and longevity as luxurious and undermine the need for them. The strong economic growth in the household is a key determinate in complementary and alternative medicine for antiaging and longevity.
By Regional Analysis
Europe dominated the global market and accounted for a revenue share of over 30.0% in 2020.CAM has gained immense popularity and acceptance in Europe.CAM usage is more prevalent among women, well-educated individuals, and middle-aged people. In terms of health determinants, musculoskeletal problems are the most common conditions treated with CAM.
The Middle East and Africa region are expected to witness the fastest growth over the forecast period. The long history of using several spiritual techniques along with using herbal medicines for the treatment of various disorders is the key factor expected to drive the regional market during the forecast period.
Key Players
- Anadolu Medical Center
- Sinomedica
- Acupuncture Enfants
- Ayurveda Kuwait
- Maya Reiki School
- Maylilacs
- Al Zuhair Holistic Medicine Center
- Ayurmana By Dharma Ayurveda
- Trinicum
- Miskawaan Health Group
- Therme Wien
Market Segmentation
- By Intervention
- Traditional Alternative Medicine/Botanicals
- Ayurveda
- Naturopathic Medicine
- Traditional Chinese Medicine
- Zang Fu Theory
- Others
- Body Healing
- Yoga
- Acupuncture & Massage
- Chiropractic
- Qigong & Tai chi
- Kinesiology
- Reflexology
- Eurythmy
- Others
- Mind Healing
- Meditation & Mindfulness
- Relaxation
- Others
- External Energy Healing
- Magnetic & Electromagnetic therapy
- Chakra healing
- Reiki
- Others
- Sensory Healing
- Aromatherapy
- Sound healing
- Traditional Alternative Medicine/Botanicals
- By Customer
- High Net Worth (HNW) Individuals
- Very High Net Worth (VHNW) Individuals
- Ultra-high Net Worth (UHNW) Individuals
- Others
- Regional
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Switzerland
- Austria
- Asia Pacific
- Japan
- China
- India
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- UAE
- Bahrain
- Kuwait
- Qatar
- Saudi Arabia
- North America
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Reasons to Purchase this Report:
– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
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