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Europe Complementary And Alternative Medicine Industry Overview
The Europe complementary and alternative medicine market size is expected to reach USD 125.18 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 20.89% from 2021 to 2028. The market is majorly driven by the growing awareness regarding alternative medicine and its numerous associated benefits. Further, an increase in the adoption of, spas, and other wellness treatments has resulted in a considerable adoption of complementary and alternative medicine services.
Europe Complementary And Alternative Medicine Market Segmentation
Grand View Research has segmented the Europe complementary and alternative medicine market on the basis of intervention and country:
Based on the Intervention Insights, the market is segmented into Traditional Alternative Medicine/Botanicals, Mind Healing, Body Healing, External Energy Healing, Sensory Healing.
- The body healing segment accounted for the largest revenue share of over 25.0% in 2020. Increasing awareness regarding the efficacy and effectiveness of traditional systems of medicine and growing consumer preference for gentle therapies are major factors augmenting the demand for body healing techniques in the European region.
- Moreover, scientific and empirical evidence to support the use of acupuncture for numerous chronic illnesses is driving the adoption of acupuncture. For instance, the efficiency of acupuncture, a prevalent treatment for releasing pain, has been confirmed through numerous laboratory experiments and clinical trials.
- Mind healing is anticipated to grow at a lucrative rate over the forecast period. Increasing awareness regarding mind healing and the rising prevalence of mental illness along with well-established research institutes will offer lucrative opportunities over the forecast period.
- Furthermore, Switzerland is also offering a Contemplative Psychotherapy Program, which aims at incorporating compassion-based meditation and mindfulness practices and Buddhist psychology with neuropsychology and contemporary psychotherapy.
Europe Complementary And Alternative Medicine Country Outlook
- France
- Germany
- Switzerland
- Austria
- Spain
- Norway
- Denmark
- Sweden
- Belgium
- Netherlands
- U.K.
- Ireland
Key Companies Profile Market Share Insights
The European market for complementary and alternative medicine is highly competitive with the presence of a large number of key players as well as emerging players. The advent of new strategic plans to maintain competitiveness stimulates the market growth.
Some prominent players in the Europe complementary and alternative medicine market include
- Columbia Nutritional
- SUN AND MOON HEALING
- Ramamani Iyengar Memorial Yoga Institute
- Nordic Nutraceuticals
- John Schumacher Unity Woods Yoga Centre
- The Healing Company Ltd.
- Pure encapsulations, LLC
- Sheng Chang Pharmaceutical Company
- AYUSH Ayurvedic Pte Ltd.
- Herb Pharm
Order a free sample PDF of the Europe Complementary And Alternative Medicine Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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