Spoilt for choice: Growing public acceptance of alternative therapies has boosted revenue

In line with the growing acceptance of complementary medicines, the Alternative Health Therapies industry has grown strongly over the past five years. 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. Therapies that are either alternative or complementary to conventional Western medicine are being increasingly accepted, buoying the industry's performance...read more.

Industry Statistics & Market Size
Revenue
$4bn
Annual Growth 12-17
3.1%
Forecast Growth 17-22
Profit
Employment
35,230
Businesses
29,359
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 increased as demand has led to greater regulatory interest
  • Profit growth may be stifled as practitioners differentiate their business on quality and price
  • Industry Report - Industry Analysis Chapter

    The Alternative Health Therapies industry provides a variety of alternative health therapies. Therapies can be considered as either complementary to conventional medicine, such as chiropractic treatments, or alternatives that replace conventional medicine, such as naturopathy. Alternative health therapies are mostly discretionary, which results in their uptake rate being subject to fluctuations in the economy. Australia’s economy has posted modest growth over the past five years, stimulating healthy industry revenue growth. The industry has also benefited from increasing public acceptance of alternative therapies, rising health consciousness and an ageing population that is spending more on conventional and alternative therapies. The...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
  • Traditional Chinese medicine
  • Therapeutic massage and reflexology
  • Other therapies
  • Industry Activities
  • Naturopathy
  • Acupuncture
  • Traditional Chinese medicine
  • Meditation therapy
  • Vitamin and/or 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
  • Naturopathy and homeopathy
  • Dietary supplements and herbal medicines
  • Acupuncture
  • Therapeutic massage and reflexology
  • Traditional Chinese medicine
  • Other therapies
  • Chart: Alternative Health Therapies Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • People aged 18 to 64 years
  • People aged 65 years and older
  • People aged 17 years 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 (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)

  • 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 offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

    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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