Covid-19 Scenario to be “Altered” by “Alternative medicines and Therapies”?
Date : Sep 18, 2020 Author : PMR Editorial Staff
As per Persistence Market Research, the global alternative medicines and therapies market is expected to grow at an exponential rate between 2020 and 2030.
Alternative medicines and therapies refer to natural course of treatment. This method is tad different than pharmaceutical or conventional medicines. Alternative medicines are inclusive of traditional Chinese medicine, herbal medicine, ayurvedic medicine, homeopathic medicine, acupuncture, and naturopathy. Alternative therapies enclose mud therapy and oil massage therapy, yoga, osteopathic manipulation and meditation, and deep breathing exercise. The current scenario is such that alternative medicines and therapies find their presence in reducing depression and pain, and treating neurological and chronic diseases.
The popularity gained by alternative medicines and therapies in developed economies has resulted in spas, meditation centres, complementary wellness facilities, and yoga studios to flourish. Plus, governments all over are playing a vital role in accelerating adoption of CAM (Complementary and Alternative Medicine). In the developing economies like India, the “Ministry of Ayush” has been set up for governing research, education, and various other facilities related to homeopathy, naturopathy, yoga, and Ayurveda.
What’s going on at the Hindsight?
In the countries like the US, these alternative medicines are categorized as “Integrative Medicines”. A paradigm shift is witnessed on this count due to the long-term benefits offered by these medicines – the first and the foremost being “negligible side-effects”. Along these lines, Andrew Krupp did grant close to US$ 30 Mn to the “Center for Integrative Medicine, California” with the objective of analysing potential benefits of natural therapeutics, diet, and exercise in treating several chronic diseases like cardiovascular diseases and cancer. The new level of acceptance by the doctors and physicians herein is bound to set new benchmarks for alternative medicines and therapies market in the near future.
Impact of Covid-19 on Alternative medicines and Therapies Market
The outbreak of Covid-19 has catalysed the alternative medicines and therapies market, especially after confirmation from the healthcare professionals that natural therapies act as a preventive measure towards Covid-19. Deep breathing exercise is one such natural therapy. Yoga is another one. In countries like India, “National Yoga Day” is observed on 21st June every year to mark the importance of such natural therapies throughout. Medical science also proves that these workouts help to keep such contagions at bay.
Healthcare professionals have also certified that mud therapy does work wonders regarding prevention of Covid-19. Several homeopathic medicines have sprung up, which help in providing good immunity against Covid-19. Doctors have also stated that inhaling steam thrice a day prevents the contraction of Covid-19. Oil massage therapy has been cited as useful since time immemorial, especially for infants. Now, even adults are advised to have it in an aplomb.
Therefore, there is no harm in concluding that the future, by all means, belongs to alternative medicines and therapies. Right now, there is a three-fold increase in demand for these therapeutics due to official awareness drive being conducted by healthcare professionals, but allopathic medicines are expected to be overpowered by natural course of medications in the due course of time.
On the other hand, on a positive note, Covid-19 vaccine is in making. Russia (a superpower of yesteryears) has already come up with “Sputnik V”. AstraZeneca is also conducting phase-III trials pertaining to Covid-19 vaccine. Till the time the market sees a 100% inflow of Covid-19 vaccines, it’s essential to put a check on the further spread. Putting alternative medicines and therapies into practice is expected to help over here.
Technological Advancements regarding Covid-19 Vaccine
India-based CSM Technologies, recently, came up with “CoVaTrack”. It does come across as Covid-19 vaccine & treatment tracker. The world could lay its hands on information regarding production of vaccine as pharmaceutical firms, nations, and researchers all across are making relentless efforts for combating Covid-19.
The key players in the alternative medicines and therapies market include Ayraa Vaidya Pharmacy, Dr. Reddy’s Laboratories Ltd., Biocon Ltd., Sandoz International GmbH, Sante Verte Ltd., Wright Health Group Ltd., Cipla Ltd., and Weleda (UK) Ltd.
Geographies’ take on Alternative Medicines and Therapies
Europe leads the alternative medicines and therapies market. This could be attributed to the fact that the NICE (National Institute for Health and Care Excellence) does recommend implementation of manual therapy to address body pain, and Alexander technique to treat Parkinson’s disease.
Asia-Pacific stands second. India is amongst the forerunners with respect to yoga, Ayurveda, and chakra healing. Moreover, the Chinese practice Reiki, energy healing, and tai chi. North America is following the suit and expected to hold significant market share in terms of practising the above-mentioned therapies.
One point needs to be mentioned that Covid-19 has compelled almost every region to rethink on prioritising the ways of treatment and boosting immunity. So, the tables have turned in favour of countries like India for these therapies to be administered and others following them.