The Alternative Health Therapies industry has undergone healthy growth over the past five years. The industry has been buoyed by the population's increasing acceptance of therapies that are either alternative to conventional Western medicine or complementary to conventional treatments. Industry revenue has further been boosted by the ageing population and growing private health insurance membership. Meanwhile, improving economic conditions following the global financial crisis have also helped stimulate revenue growth over the past five years. Overall, industry revenue is expected to rise by a compound annual 4.0% over the five years through 2014-15, to reach $3.9 billion.
Practitioners in this industry primarily deliver treatments that are not commonly practiced under mainstream Western medicine. These therapies are intended to either complement Western medicine or as an alternative form of treatment. The industry includes treatments such as acupuncture, traditional Chinese medicine, aromatherapy and homeopathy.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.