Healing touch: A wider acceptance of alternative therapies has caused revenue to grow

The Alternative Health Therapies industry has increased its revenue over the past five years, aided by the growing acceptance of alternative or complementary therapies to conventional Western medicine. Complementary and alternative health care medicines and therapies (often collectively referred to as complementary and alternative medicine, or CAM) are used alongside conventional medical treatments to improve health and wellbeing. These treatments include acupuncture, naturopathy, aromatherapy, homeopathy, traditional Chinese and Ayurvedic medicines, massage, reiki and osteopathy.Australia's ageing population has helped drive revenue growth, as the higher frequency of illness for people over the age of 50 has led many to use alternative health therapy...read more.

Industry Statistics & Market Size
Revenue
$4bn
Annual Growth 13-18
1.4%
Forecast Growth 18-23
Profit
Employment
36,487
Businesses
29,535
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Therapies that are either alternative or complementary are being increasingly accepted
  • The industry’s cost base has grown as demand has increased regulatory interest
  • Profit growth may be stifled as practitioners differentiate their business on quality and price
  • Industry Report - Industry SWOT Analysis Chapter

    Over the past five years, consumer acceptance of alternative therapies has grown and broadened the base of consumers using these therapies, contributing to increased demand. These therapies are also benefiting from increased acceptance among insurance companies, with a greater number of policies now covering alternative treatments. Employment in the industry has also risen. The number of practitioners has increased, as has the scale of enterprises, which are increasingly employing auxiliary staff. In addition, the industry continues to offer a changing and expanding range of products and services. While more established treatments are becoming increasingly mainstream, New Age lifestyles have contributed to new treatments becoming more widely practiced. Pra...purchase to read more.

    Additional Insights for the Alternative Health Therapies Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Alternative Health Therapies Industry are

  • Proximity to key markets
  • Economies of scope
  • Membership of an industry organisation
  • IBISWorld analysts also discuss how external factors such as Health consciousness and Total health expenditure in the Alternative Health Therapies industry impact industry performance..

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    What's in this report

    What is the Alternative Health Therapies Industry?

    Industry practitioners primarily deliver treatments that are not commonly practiced under mainstream Western medicine. These therapies are intended to either complement Western medicine or act as an alternative form of treatment. The industry includes treatments such as acupuncture, traditional Chinese medicine, aromatherapy and homeopathy.

    Industry Products
  • Chiropractic and osteopathy
  • Naturopathy and homeopathy
  • Dietary supplements and herbal medicines
  • Acupuncture and Chinese medicine
  • Therapeutic massage and reflexology
  • Other therapies
  • Industry Activities
  • Naturopathy
  • Acupuncture
  • Traditional Chinese medicine
  • Meditation therapy
  • Vitamin and mineral therapy
  • Chiropractic services
  • Aromatherapy
  • Osteopathy
  • Reflexology
  • Hypnosis
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Health consciousness
  • Total health expenditure
  • Population aged 50 and older
  • Public health expenditure
  • Real household discretionary income

  • Current Performance
  • Industry participation
  • Industry profit
  • Consumer acceptance and access
  • Efficacy and safety
  • Private health insurance
  • Chart: Revenue Growth

  • Industry Outlook
  • Participation and profit
  • Health expenditure
  • Regulatory framework
  • Table: Alternative Health Therapies Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Alternative Health Therapies Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Health Insurance
  • Consumers

  • Key Selling Industries
  • Pharmaceutical Product Manufacturing
  • Technical and Vocational Education and Training

  • Products & Services
  • Chiropractic and osteopathy
  • Other therapies
  • Naturopathy and homeopathy
  • Acupuncture and Chinese medicine
  • Dietary supplements and herbal medicines
  • Therapeutic massage and reflexology
  • Chart: Alternative Health Therapies Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • People aged 18 to 64
  • People aged 65 and older
  • People aged 17 and younger
  • Chart: Major Market Segmentation for the Alternative Health Therapies Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Alternative Health Therapies

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Alternative Health Therapies Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Alternative Health Therapies Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Alternative Health Therapies Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Ancillary Cover
  • Also known as extras cover, it is an additional part of private health insurance that provides rebates for patients using services outside of general hospital cover.
  • Ayurveda
  • An alternative medical system based on traditional medicine that is native to India.
  • Palliative Care
  • Treatment that aims to alleviate symptoms of a disease, rather than curing the disease itself.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Alternative Health Therapies market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Alternative Health Therapies:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Alternative Health Therapies market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Alternative Health Therapies, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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