Health and Hospital Management

Healthcare and Traditional Medicine

Traditional medicine refers to the knowledge, practices, and skills based on the theories, beliefs and experiences indigenous to different cultures, used in the maintenance of health and in the prevention, diagnosis, improvement or treatment of mental and physical illness. It is often termed alternative or complementary medicine in many other countries. Traditional medicine is used by about 60% of the global population current estimates indicate that about 80% of the people in developing countries still rely on traditional medicines.

As the per market analysis, the traditional medicine will grow to $111 billion by industry size till 2023, at a CAGR of 7.2%.

Types of traditional medicine:

Acupuncture

Ayurveda

Homeopathy

Naturopathy

Chinese or Oriental medicine