Traditional Chinese Medicine Market Growth to be Benefited by Technological Advancements
Added: (Mon Feb 26 2018)
Traditional Chinese medicine is a holistic and natural medicine system originated thousand years ago in the ancient China. In traditional Chinese medicine, the understanding of the universe as described in the Daoism and the treatment of illness is primarily based on the analysis and syndrome differentiation. In traditional Chinese medicine, the herbal medicines, mind and body practices such as acupuncture, tai chi, massage therapy and nutrition therapy is used to the treat the various diseases and disorders. The diseases and disorders include fatigue, chronic pain, infertility, headache, and hormonal Imbalances and others. The traditional Chinese medicine therapy is worldwide accepted as a complementary health approach.
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The traditional Chinese medicine is formed by the thousand years of experience of maintaining health, understanding life and treating the daily life diseases. The traditional Chinese medicine is also used for prevention of diseases, which boost the demand for the traditional Chinese medicine therapy and propel the growth of the market over the forecast period.
The global traditional Chinese medicine treatment market is expected to register a significant CAGR over a forecast period. The increasing acceptance of traditional Chinese medicine as a primary health approach in the western countries such as U.S. and Canada and other developed economies is the major factor, which anticipated to boost the growth of the global traditional Chinese medicine treatment market. The traditional Chinese medicine treatment addresses the patient-external factors and environment and helps patient to manage stress by improving lifestyle factors such as routine of diet and exercise which also fuel the demand for the traditional Chinese medicine and drives the growth of the global traditional Chinese medicine market. The traditional Chinese medicine also protects cognitive health, preserves strength and flexibility of the patient, also propels the demand for the traditional Chinese medicine and drives the market growth over the forecast period.
However, some herbal products used in traditional Chinese medicine may not be safe and have an adverse effect on the patient which may hamper the demand for the traditional Chinese medicine and restrain the growth of the global traditional Chinese medicine market. The safety of the other traditional Chinese medicine is the major concern as it reported the complications such as allergic reactions, infections, and burns also may restrain the growth of the global traditional Chinese medicine market. The U.S. FDA regulations and European Committee guidelines also may affect the demand for traditional Chinese medicine and restrain the growth of the global market of traditional Chinese medicine over the forecast period.
On the basis of regional presence, the global traditional Chinese medicine treatment market is segmented into five key regions: North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa.
The Asia Pacific is dominating and contributed the leading shares to the global traditional Chinese medicine treatment market in terms of revenue and expected to register a significant growth over a forecast period due to the practice in the origin country and availability of treatment facilities for the same in the region. The North America and Europe have also contributed the moderate shares and registered a healthy growth rate to the global Traditional Chinese medicine treatment market due to increasing acceptance of traditional Chinese medicine as a primary level treatment. The Latin America and MEA are at a nascent stage to the global traditional Chinese medicine treatment market and expected to show a moderate growth over a forecast period.
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Some of the market players in Traditional Chinese Medicine Treatment Market globally include Misha Ruth Cohen, TCM Australia, ACTCM, Sacred Lotus, Medical Qigong Centre & Acupuncture Clinic, ICTCM House, Dublin Chinese Medicine Clinic, ChinaMed Charlottesville, NZ Chinese Medicine & Acupuncture Society and Healthy Lifestyle Brands, LLC.
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