Global Traditional Medicine Market to Reach US$114 Billion by 2015, According to a New Report Published by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global outlook on the Alternative Medicine Industry. World market for Alternative Medicine is experiencing robust growth triggered by growing demand for nature-based products and a belief that herbal products cause minimal side effects when compared to modern medicines. Traditional Chinese Medicine, Homeopathy, Acupuncture, Chiropractic Treatment, Massage, and Ayurveda are widely practiced in Asian and African countries, and are gaining ground at a healthy rate in the developed world as well.

Alternative Medicine: A Global Outlook

Follow us on LinkedIn – Consumer interest in alternative medicine (AM) is accelerating across the globe on account of rising healthcare costs associated with contemporary therapies. A growing number of individuals are falling prey to hypertension, depression, sleep disorders, and other lifestyle-related diseases, and are resorting to conventional medical treatments to cure or prevent the onset of such conditions. Complementary and alternative medicine currently provide healthcare to about 75 percent of the population in developing nations and over 50 percent of the population in the developed world for lifestyle-related diseases such as diabetes and hypertension. Health Insurance companies, such as those in the US, are increasingly offering patients coverage for more kinds of CAM and AM therapies.

The herbal remedies and homeopathic market posted steady gains largely as a result of a growing percentage of senior individuals, members of the baby boom generation who are now mostly in their 60s, seeking a more holistic approach to healthcare as their ailments become more chronic in nature. These ailments include arthritis and other degenerative ailments such as heart disease, diabetes, and cancer, in addition to depression, headaches, and anxiety. There are either real or perceived limitations to conventional treatments for several of these conditions. Alternatively, sales figures indicate that the most common uses for herbal medicines are for conditions such as flu, burns, and colds.

Unlike the stringent regulations and intensive research and development procedures that are mandatory for modern medicines, a similar set-up is lacking for alternative medicines. Thus, several risks are associated with AM therapies, such as toxicity, unfavorable side effects, injury possibilities, and a deficiency of qualified practitioners. Governments all over the world remain divided over their policy towards conventional medicine therapy. While the practice of AM is permitted in several Asian nations and a number of enabling regulations are in place in these regions, in many Western nations, particularly in Europe, alternative medicine market is highly restricted and several herbal medications are banned due to lack of sufficient research and testing. However, the WHO is undertaking efforts to promote and integrate AM into healthcare systems, and is also assisting countries to formulate policies for the regulation of AM practices, products, and therapists.

The research report titled “Alternative Medicine: A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers a rudimentary overview of the industry, highlights latest trends and demand drivers, in addition to providing statistical insights. Regional markets briefly abstracted and covered include United States, Canada, Japan, Europe, UK, Denmark, India, Australia, and Taiwan among others. The report offers a compilation of recent mergers, acquisitions, and strategic corporate developments. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.

For more details about this comprehensive industry report, please visit –

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
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