Facts and Factors Market Research has published a new report titled “Brazil Complementary and Alternative Medicine Market By Type (Traditional Alternate Medicine Therapy, Diet and Herbal Based Therapy, Mind Therapy, Body Therapy, and Energy Healing Therapy), By Age Group (Infant, Adults, Adolescent, and Elderly), By Disease Indications (Arthritis, Neurology, Cancer, Cardiology, Asthma, and Diabetes), and By Distribution Channel (Direct Sales, Distance Correspondence, and E-Distribution): Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”. According to the report, the Brazil complementary and alternative medicine market is predicted to be valued at approximately USD 2,498 million in 2018 and is expected to reach a value of around USD 9,759 million by 2027, at a CAGR of around 16.4% between 2019 and 2027.
Complementary & alternative medicine is the terminology that is applied for medical items and practices which are not the components of normal medical or healthcare practices. Institutes such as National Cancer Institute (NCI) & the National Center for Complementary and Integrative Health (NCCIH) have recently sponsored or co-sponsored a spectrum of clinical tests that determine the outcomes of complementary & alternative medicine treatments in the patient population. There are myriad kinds of complementary therapies like aromatherapies, acupuncture therapies, herbal medicine therapies, massage therapies, visualization therapies, and yoga therapies along with others.
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Complementary medicine is the kind of therapy that finds the usage along with regular healthcare treatment. For instance, acupuncture therapy to minimize the side-effects of the cancer treatment caused due to chemotherapy. On the other hand, alternative medicine is used as a substitute for the standard medical treatment process. For instance, the following of a special diet program as a part of the routine activity for treating cancer in place of anti-cancer drug treatment as per oncologist medication.
Massive awareness about the wellness drugs to boost the market trends
The growth of the market during the forecast timeframe is due to the integrated impact of telemedicine along with the rise in health awareness among the Brazilian population. In addition to this, the high demand for wellness healthcare items & services will further drive the expansion of complementary and alternative medicine industry in Brazil over the forecast timeline.
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Furthermore, a combination of various technologies will pave the way for the market growth in Brazil over the forecast timeline. Moreover, the occurrence of non-contagious ailments like heart disorders, high blood pressure, diabetes, and depression will propel the market growth during the period from 2019 to 2027. In addition to this, the complementary & alternative drugs approach for treating these non-communicable ailments will create lucrative growth avenues for the industry in other developing regions also. Apart from this, the integration of therapies like acupuncture and magnetic interventions will further boost the complementary and alternative medicine industry in Brazil.
Apparently, the growing occurrence of major depressive disorder along with the high awareness about its symptoms will further embellish the market growth over the forecast timeline. Apart from this, the application of complementary & alternative medicine methods like herbs, music therapy, and mind-body healing methods will prompt market growth over the forecast period.
Moreover, an increase in the number of retail stores in the form of startups as well as established firms providing dietary herbal supplements and accessories required for the treatments is likely to accelerate the market expansion in Brazil during the forecast timeline. Nonetheless, lack of approved clinical aid, enforcement of laws regarding the quality of products, and knowledge pertaining to the usage, safety, and efficiency of alternative medicine & complementary medicine treatments can put brakes on the market expansion during the forecast period.
Traditional alternative medicine therapy to lead the type segment over the forecast timeline
The segmental growth is attributed to the massive use of traditional alternative medicine treatments like acupuncture, homeopathy, naturopathy, Ayurveda, and Chinese or Oriental medicine for curing the non-contagious ailments in Brazil.
Adolescent segment to dominate the age group landscape by 2027 in terms of value
The growth of the segment is credited to the escalating popularity of complementary as well as alternative medicines among the adolescent patients in Brazil.
Sao Paolo to contribute majorly towards the regional market share by 2027
The growth of the market in the Sao Paolo is owing to the massive use of traditional alternative medicine treatment treatments, massive market demand from the adolescent population base, and direct sales of the complementary & alternative medicines in the city.
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Some of the key players in the market include Optum, Inc., Aché, Quantum-Touch, and Herboflora.
This report segments the Brazil Complementary and Alternative Medicine market as follows:
Brazil Complementary and Alternative Medicine Market: By Type Segment Analysis
- Traditional Alternate Medicine Therapy
- Chinese or Oriental medicine
- Diet and Herbal Based Therapy
- Dietary supplements
- Herbal medicine
- Mind Therapy
- Body Therapy
- Chiropractic and osteopathic medicine
- Body movement therapies
- Tai chi
- Energy Healing Therapy
- Electromagnetic therapy
Brazil Complementary and Alternative Medicine Market: By Age Group Segment Analysis
Brazil Complementary and Alternative Medicine Market: By Disease Indications Segment Analysis
Brazil Complementary and Alternative Medicine Market: By Distribution Channel Segment Analysis
- Direct Sales
- Distance Correspondence
Brazil Complementary and Alternative Medicine Market: City-wise Segment Analysis
- Sao Paulo
- Rio de Janeiro
- Rest of Brazil
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