Global CAM Market 2019 to 2025
Overview of Global and US Complementary and Alternative Medicine (CAM) Market 2019-2025
In 2018, the Global Complementary and Alternative Medicine (CAM) market were valued at US$55.2 billion and expected to reach US$163.3 billion by 2025, while growing approximately at a CAGR of 16.8% during the forecasted period 2019 and 2025.
During the forecasted period, North America is expected to dominate the CAM market, due to the rising awareness among the people about advanced treatment for healthcare in this region.
In 2016, the Complementary and Alternative Medicine market in the US was valued at US$14.3 billion, which reached $17.9 billion in 2020.
During the period 2017 to 2020, the CAM market in US grew at a CAGR of 5.77%.
As the demand and revenue in the US have been growing at a steady rate (2014-2015 = 3.8%; 2015-2016 = 4.4%), therefore according to our estimation the US market will be growing approximately at a CAGR of 7.8% for the forecasted period 2021-2025.
Even North America is considered as the largest market of geriatric complementary and alternative medicines owing to high use of CAMs in this region.
According to a survey conducted by Health and Retirement Study, it was reported that approximately 85% of the geriatric population (age more than 65 years) in North America, uses complementary and alternative medicines.
Data Sources: Statista, Pharmiweb, Medgadget.
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