But some examples of where practices from TCM and CAM are achieving recognition are:
- The Nobel Prize awarded to Tu Youyou for finding artemisinin effective for treating malaria 
- A recent NIH review finding acupuncture, yoga and other non-drug therapies effective for common pain conditions 
- A study of a chiropractic technique to reduce the physiological effects of emotional stress/trauma 
But aside from these studies, surely the market is at least somewhat of an indicator of some level of benefit. Economists generally regard consumers of being capable of making rational decisions about how to spend their money in ways that most benefit them.
Of course it's not a water-tight rule, but nor is it completely false. Yet many people dismiss the entire CAM industry as being fuelled by nothing but stupidity, and dismiss the possibility that at least some of the industry's customers are capable of making rational spending decisions when it comes to their health.
All the meridians and whatnot don't lend more credibility over...soil, say. Until they're tested properly. After which Nobel prizes can be won.
The vast majority of people using/practicing "CAM" are not claiming "CAM" to be "better" than modern medicine; they take a horses-for-courses approach.
Modern medicine is fine for acute illness where you need a medication or surgery to address an infection, break, blockage, etc.
"CAM" seems to be valuable for chronic non-life-threatening conditions like fatigue, pain, mild hormonal issues, mild auto-immunity, etc. It's also chosen by people who are quite healthy and want to keep it that way by optimising their nutrition, emotions, muscular-skeletal strength/alignment, etc.
So it's not a matter of what is better or worse than the other, it's a question of finding the right tool for the job. Every conventional doctor I've consulted in the past few years has endorsed that approach.