Complementary And Alternative Medicine Industry ESG Thematic Report, 2023

Environmental, Social and Governance (ESG) in the Complementary And Alternative Medicine Industry

The climate system is warming, as scientists have demonstrated unequivocally for the past few years. Change in weather patterns (temperature, precipitation, sea level rise, more frequent extreme events) has already affected human health, as well as changing the quality of water, air, and food as well as the planet's life support systems indirectly. It would be possible to reduce the burden of disease and promote population health if we dealt with the root causes of climate change, invested in healthy environments, strengthened health systems, and advocated for healthy development.

"Alternative," "complementary," and "lifestyle" medicine describe a wide variety of products, practices, and treatments that are not considered part of standard or traditional medicine. As far as ESG is concerned the industry affect the social part mainly which involves human health, medication, and safety. There is a wide array of complementary and alternative medicine (CAM) therapies available to consumers who are increasingly using them to combat disease and maintain good health.

There has been a growing use of complementary and alternative medicines (CAMs) in clinical practice since the beginning of the Coronavirus disease 2019 (COVID-19) pandemic. Research that aims to use traditional medicines for treating COVID-19 individuals is expected to gain traction in the next few years. Government authorities all over the world are keen on promoting traditional alternatives to treat COVID-19 patients, however, conventional research standards have to be met as they do for all other drug candidates.

ESG Trends

Alternative and complementary medicines are increasingly used to diagnose or treat allergic diseases, and numerous studies have documented their benefits. Additionally, through complementary and alternative medicine, human health is improved (1) reducing stress, insomnia, depression, and anxiety (all of which increase susceptibility to infections), (2) promoting a healthy diet and physical activity (reducing the risk of infections), (3) preventing infections with natural products by stimulating the fever reaction of the organism when it is infected, and (4) preventing infections by reducing the fever reaction.

Apart from the benefits mentioned above, alternative and complementary medicine plays a role in enhancing access to health and meeting Sustainable Development Goal 3 - Good Health and Well-being - as well as promoting sustainability in social, economic, and environmental spheres.

ESG Risk

Alternative and complementarytherapies promise wellness through methods that seem straightforward, wholesome, and without harmful side effects. However, this may not always be the case. Sometimes, these methods are incorrectly attributed to preventing, diagnosing, or treating cancer, even when their effectiveness has not been proven through scientific testing. Furthermore, some complementary or alternative therapies may even pose a danger or even result in death. Some may also interfere with standard cancer treatments.

Also, some companies do not follow Food and Drug Administration (FDA) rules about making claims and labeling supplements properly. Some vitamins and minerals can raise a person's risk of cancer or other illnesses. Due to how dietary supplements are manufactured or handled, harmful contaminants can end up in them in some cases.

Growth of the Complementary And Alternative Medicine Market

The global complementary and alternative medicine market was valued at USD 82.27 billion in 2020 and are expected to grow at a compound annual growth rate (CAGR) of 22.03% from 2021 to 2028. As a result of changing regulatory scenarios and robust government initiatives, the market is expected to gain momentum in the coming years, thereby establishing strong transnational links between global, national, and local movements in alternative medicine. We have highlighted some of the most important risks associated with complementary alternative medicine (CAM), particularly those that are derived from the use of CAM therapies by patients. Although it is not possible to list all risks associated with using CAM therapies, it is important to note that some may cause serious adverse effects and put patients at greater risk of developing drug interactions and allergic reactions.

Key Companies in this theme

    • Columbia Nutritional

    • Nordic Nutraceuticals

    • Ramamani Iyengar Memorial Yoga Institute

    • The Healing Company Ltd.

    • John Schumacher Unity Woods Yoga Center

    • Sheng Chang Pharmaceutical Company

    • Pure encapsulations, LLC.

    • Herb Pharm

    • AYUSH Ayurvedic Pte Ltd.

Scope of the Complementary And Alternative Medicine Industry ESG Thematic Report

    • Macro-economic and ESG-variable analysis of the industry, including regulatory, policy, and innovation landscape

    • Key insights on infrastructure developments and ESG issues affecting the theme

    • Identify key initiatives and challenges within the industry

    • Identify ESG leaders within the industry

    • Understand key initiatives and the impact of companies within the sector to fuel an informed decision-making process

    • Analysis of industry activities based on multi-media sources, including significant controversies and market sentiment

Key Benefits of the Complementary And Alternative Medicine Industry ESG Thematic Report

    • Developing a comprehensive understanding of macro-economic, Policies & Regulations and innovations affecting the industry, globally.

    • Key insights into Infrastructure developments and ESG issues affecting the theme.

    • Identifying ESG risks and opportunities to business among leading players in the complementary and alternative medicine industry.

    • Obtaining a clear and relevant understanding of company actions, progress, and impact and finding opportunities for investment.