Australia Complementary And Alternative Medicine Market Size & Outlook
Australia complementary and alternative medicine market, 2018-2030 (US$M)
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Australia complementary and alternative medicine market highlights
- The Australia complementary and alternative medicine market generated a revenue of USD 5,618.8 million in 2023 and is expected to reach USD 29,819.3 million by 2030.
- The Australia market is expected to grow at a CAGR of 26.9% from 2024 to 2030.
- In terms of segment, traditional alternative medicine/botanicals was the largest revenue generating intervention in 2023.
- Mind Healing is the most lucrative intervention segment registering the fastest growth during the forecast period.
Complementary and alternative medicine market data book summary
| Market revenue in 2023 | USD 5,618.8 million |
| Market revenue in 2030 | USD 29,819.3 million |
| Growth rate | 26.9% (CAGR from 2023 to 2030) |
| Largest segment | Traditional alternative medicine/botanicals |
| Fastest growing segment | Mind Healing |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Traditional Alternative Medicine/Botanicals, Mind Healing, Body Healing, External Energy, Sensory Healing |
| Key market players worldwide | Columbia Nutritional, Nordic Naturals, The Healing Co Inc, Nestle SA, Unity Woods Yoga Center, Herb Pharm |
Other key industry trends
- In terms of revenue, Australia accounted for 3.9% of the global complementary and alternative medicine market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, India complementary and alternative medicine market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 56,588.3 million by 2030.
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Complementary And Alternative Medicine Market Scope
Complementary And Alternative Medicine Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia complementary and alternative medicine market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to complementary and alternative medicine market will help companies and investors design strategic landscapes.
Traditional alternative medicine/botanicals was the largest segment with a revenue share of 34.71% in 2023. Horizon Databook has segmented the Australia complementary and alternative medicine market based on traditional alternative medicine/botanicals, mind healing, body healing, external energy, sensory healing covering the revenue growth of each sub-segment from 2018 to 2030.
In Australia, CAM has established its place in the healthcare system. According to estimates, up to two out of every three Australians use CAM, which costs USD 3.5 billion annually.
The Australian market for alternative medicine is one of the markets expected to witness significant growth on all fronts, such as government policies, public approval, and commercial adoption.
Other factors such as a rapidly aging population, increasing demand for palliative care, increasing private insurance coverage for alternative therapies, and growing awareness programs conducted by the government are supporting the practice.
are fueling the market growth in Australia.
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Our clientele includes a mix of complementary and alternative medicine market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia complementary and alternative medicine market , including forecasts for subscribers. This country databook contains high-level insights into Australia complementary and alternative medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia complementary and alternative medicine market size, by intervention, 2018-2030 (US$M)
Australia Complementary And Alternative Medicine Market Outlook Share, 2023 & 2030 (US$M)
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