Dublin, Aug. 21, 2023 (GLOBE NEWSWIRE) -- The "US Alternative Healthcare Providers Market - Focused Insights 2023-2028" report has been added to ResearchAndMarkets.com's offering.
In the US, the alternative healthcare providers market was valued at $20.45 billion in 2022 and is expected to reach $25.77 billion by 2028, growing at a CAGR of 3.93%.
The realm of healthcare is not confined to conventional practices alone; it encompasses a diverse array of complementary and alternative medical practices (CAM). This report embarks on an exploration of the US alternative healthcare providers market, shedding light on its market size, forecast data, and the dynamic landscape within which it operates.
This comprehensive report ventures into the heart of the alternative healthcare providers market in the US, capturing both the revenue generated from offering products and services in this realm. It provides an intricate understanding of the current market scenario, including its size, projected trends, relevant market segments, and prevailing industry dynamics.
In essence, the field of complementary and alternative medical practices (CAM) thrives as a multifaceted domain, offering a range of healthcare practices and products that diverge from the conventions of mainstream medicine. Practitioners in this sphere operate within private or group practices, be it in their own offices or within the premises of institutions such as hospitals, medical centers, or patient homes.
This report is a window into the world of alternative healthcare providers, charting the course of its growth and evolution in the coming years.
KEY HIGHLIGHTS
The demand for alternative healthcare providers market is rising due to multiple factors, including the increasing geriatric population, growing consumer awareness of CAMs, the high prevalence of chronic diseases, and the increasing adoption of CAMs.
Other factors such as technological & material advancements, the introduction of new formulations, well-developed healthcare infrastructure, extensive research & development activities, the presence of leading key vendors, and government support also contribute to the overall alternative healthcare providers market growth.
In intervention type, traditional alternatives accounted for the highest share of 33.27% in 2022 and are projected to grow at the highest CAGR of 4.98% during the forecast period. The increasing demand for traditional alternatives is due to the rising disease burden, increasing prevalence of chronic diseases, and rising geriatric population.
By age group, the 30-69 years segment accounted for the highest share of 46.43% in 2022 and is projected to grow at the highest CAGR of 4.98% during the forecast period. The increasing demand for alternative healthcare providers is due to the number of chronic conditions, chronic pain, attitude towards self-care, and perceived unmet healthcare needs.
In gender type, the women segment accounted for the highest share of 55.43% in 2022 and is projected to grow at the highest CAGR of 4.80% during the forecast period. The increasing demand for alternative providers among women is due to the rise in chronic conditions, education, household income, attitudes toward self-care, and perceived unmet healthcare needs.
The rising government initiatives to promote the adoption of CAM are also boosting the market. The changing regulatory framework, rising government initiatives, and regulatory norms related to the right to health in all types of medicines are boosting the participation of market players and service providers in the US alternative healthcare providers market.
Columbia Nutritional Inc, The Healing Company, Helio USA, Pure Encapsulation, and Quantum-Touch are some leading players currently dominating the alternative healthcare providers market. The major players focus on strategic acquisitions and collaborations with emerging players to enter the alternative healthcare providers market and gain access to commercially launched products.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 75 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $20.45 Billion |
| Forecasted Market Value (USD) by 2028 | $25.77 Billion |
| Compound Annual Growth Rate | 3.9% |
| Regions Covered | United States |
VENDORS LIST
- Columbia Nutritional
- The Healing Inc
- Helio USA
- Pure Encapsulations
- Quantum-Touch
- Herb Pharm
- Herbal Hills
- Nordic Naturals
- Unity Woods Yoga Center
MARKET STRUCTURE
- Market Dynamics
- Competitive Landscape of Alternative Healthcare Providers Market
- Key Vendors
- Other Prominent Vendors
PRODUCT SEGMENTATION & FORECAST
Intervention type
- Traditional Alternatives
- Mind Healing
- Body Healing
- Sensory Healing
- External Energy
Age Group
- < 17 years
- 18-29 years
- 30-69 years
- > 70 years
Gender type
- Women
- Men
For more information about this report visit https://www.researchandmarkets.com/r/qyh4cg
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