U.S. Complementary And Alternative Medicine Market Size & Outlook
U.S. complementary and alternative medicine market, 2018-2030 (US$M)
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U.S. complementary and alternative medicine market highlights
- The U.S. complementary and alternative medicine market generated a revenue of USD 28,063.2 million in 2023 and is expected to reach USD 124,214.6 million by 2030.
- The U.S. market is expected to grow at a CAGR of 23.7% from 2024 to 2030.
- In terms of segment, traditional alternative medicine/botanicals was the largest revenue generating intervention in 2023.
- Mind Healing is the most lucrative intervention segment registering the fastest growth during the forecast period.
Complementary and alternative medicine market data book summary
| Market revenue in 2023 | USD 28,063.2 million |
| Market revenue in 2030 | USD 124,214.6 million |
| Growth rate | 23.7% (CAGR from 2023 to 2030) |
| Largest segment | Traditional alternative medicine/botanicals |
| Fastest growing segment | Mind Healing |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Traditional Alternative Medicine/Botanicals, Mind Healing, Body Healing, External Energy, Sensory Healing |
| Key market players worldwide | Columbia Nutritional, Nordic Naturals, The Healing Co Inc, Nestle SA, Unity Woods Yoga Center, Herb Pharm |
Other key industry trends
- In terms of revenue, U.S. accounted for 19.4% of the global complementary and alternative medicine market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. complementary and alternative medicine market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 12,857.2 million by 2030.
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Complementary And Alternative Medicine Market Scope
Complementary And Alternative Medicine Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
U.S. complementary and alternative medicine market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to complementary and alternative medicine market will help companies and investors design strategic landscapes.
Traditional alternative medicine/botanicals was the largest segment with a revenue share of 34.66% in 2023. Horizon Databook has segmented the U.S. complementary and alternative medicine market based on traditional alternative medicine/botanicals, mind healing, body healing, external energy, sensory healing covering the revenue growth of each sub-segment from 2018 to 2030.
Nearly 40% of adults in the U.S. use some form of Complementary and Alternative Medicine (CAM) therapy, including dietary supplements. The widespread popularity of dietary supplements and CAM drives the market growth.
The academia, federal government, and the private sector in the country offer support for CAM integration, education, and research with conventional medicine.
For instance, in November 2021, AcuCongress & American Alliance of Acupuncture collaborated to advance the federal acupuncture legislation to educate the members of Congress on the profits of acupuncture for patients and the U.S. healthcare system.
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Target buyers of U.S. complementary and alternative medicine market databook
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Our clientele includes a mix of complementary and alternative medicine market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the U.S. complementary and alternative medicine market , including forecasts for subscribers. This country databook contains high-level insights into U.S. complementary and alternative medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. complementary and alternative medicine market size, by intervention, 2018-2030 (US$M)
U.S. Complementary And Alternative Medicine Market Outlook Share, 2023 & 2030 (US$M)
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