PUBLISHER: Grand View Research | PRODUCT CODE: 1631124
PUBLISHER: Grand View Research | PRODUCT CODE: 1631124
The Europe complementary and alternative medicine market size is expected to reach USD 189.02 billion in 2030 and is expected to grow at a CAGR of 21.4% from 2025 to 2030. 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.
The presence of a large number of service providers along with educational institutes is likely to create lucrative growth opportunities over the forecast period. In addition, R&D activities to determine the potential of CAM in treating a number of chronic diseases are anticipated to boost the market growth over the forecast period.
The willingness of people to use CAM will further offer lucrative growth opportunities in the forecast period. Naturopaths were referred four times as regularly as acupuncture, TCM, osteopathy, and other methods were employed more than 3 times by people without supplemental health insurance. In addition, people in Switzerland with additional health insurance for CM used all CM modalities.
Germany accounted for the largest revenue share in the European market in 2020. The European market is fragmented and witnesses moderate market competition. This is due to the presence of a number of well-established service providers as well as recognized education providers in the region.