What are Main Factors Fueling Advancement of Complementary and Alternative Medicines Market in Asia-Pacific?

Valued at $192.0 billion in 2018, the global complementary and alternative medicines market is predicted to reach a value of $271.8 billion in 2024, progressing at a CAGR of 6.0% from 2019 to 2024. The major factors fueling the advancement of the market are the increasing utilization of traditional therapies and medicines, growing geriatric population, adoption of unhealthy lifestyles, the various side-effects and risks usually associated with allopathic medicines, and the increasing frequency of product launches by the market players.

To learn more about this report: https://bit.ly/32tysdn

The adoption of unhealthy lifestyles has drastically increased the incidence of various chronic diseases and ailments such as stress, obesity, hypertension, and insomnia. Therefore, many organizations are increasingly evaluating the potential of alternative medicines in treating these medical conditions. As per Our World in Data, in 2017, 3.4% and 3.8% of the global population were found to suffer from anxiety and depression respectively. According to the World Health Organization (WHO), the total number of diabetics in the world increased from 108 million to 422 million from 1980 to 2014.

According to a report published by the WHO, diabetes claimed the lives of 1.6 million people across the world in 2016. Apart from this factor, the countries having a rich tradition and history of traditional therapies and medications are also fueling the progress of the complementary and alternative medicines market. As per the findings of the WHO, nearly 80% of the people in the world rely on traditional medications and therapies for the treatment of diseases such as cold and cough and gastrointestinal disorders.

Browse full report at: https://www.psmarketresearch.com/market-analysis/complementary-and-alternative-medicines-market

Thus, the market is certain to demonstrate rapid expansion in the forthcoming years, mainly because of the growing incidence of chronic diseases, rising geriatric population, and increasing popularity of traditional medications and therapeutic procedures, on account of their fewer side-effects and lower costs than the allopathic medicines.

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