Global Traditional Medicine Market to Reach US$114 Billion by 2015, According to a New Report Published by Global Industry Analysts, Inc.

San Jose, California (PRWEB) January 10, 2012 Follow us on LinkedIn Consumer interest in alternative medicine (AM) is accelerating across the globe on

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San Jose, California (PRWEB) January 10, 2012

Follow us on LinkedIn Consumer interest in alternative medicine (AM) is accelerating across the globe on account of rising healthcare costs associated with contemporary therapies. A growing number of individuals are falling prey to hypertension, depression, sleep disorders, and other lifestyle-related diseases, and are resorting to conventional medical treatments to cure or prevent the onset of such conditions. Complementary and alternative medicine currently provide healthcare to about 75 percent of the population in developing nations and over 50 percent of the population in the developed world for lifestyle-related diseases such as diabetes and hypertension. Health Insurance companies, such as those in the US, are increasingly offering patients coverage for more kinds of CAM and AM therapies.

The herbal remedies and homeopathic market posted steady gains largely as a result of a growing percentage of senior individuals, members of the baby boom generation who are now mostly in their 60s, seeking a more holistic approach to healthcare as their ailments become more chronic in nature. These ailments include arthritis and other degenerative ailments such as heart disease, diabetes, and cancer, in addition to depression, headaches, and anxiety. There are either real or perceived limitations to conventional treatments for several of these conditions. Alternatively, sales figures indicate that the most common uses for herbal medicines are for conditions such as flu, burns, and colds.

Unlike the stringent regulations and intensive research and development procedures that are mandatory for modern medicines, a similar set-up is lacking for alternative medicines. Thus, several risks are associated with AM therapies, such as toxicity, unfavorable side effects, injury possibilities, and a deficiency of qualified practitioners. Governments all over the world remain divided over their policy towards conventional medicine therapy. While the practice of AM is permitted in several Asian nations and a number of enabling regulations are in place in these regions, in many Western nations, particularly in Europe, alternative medicine market is highly restricted and several herbal medications are banned due to lack of sufficient research and testing. However, the WHO is undertaking efforts to promote and integrate AM into healthcare systems, and is also assisting countries to formulate policies for the regulation of AM practices, products, and therapists.

The research report titled Alternative Medicine: A Global Outlook announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers a rudimentary overview of the industry, highlights latest trends and demand drivers, in addition to providing statistical insights. Regional markets briefly abstracted and covered include United States, Canada, Japan, Europe, UK, Denmark, India, Australia, and Taiwan among others. The report offers a compilation of recent mergers, acquisitions, and strategic corporate developments. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.

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Alternative Medicine Industry: Market Research Reports, Statistics and ...

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