Integrative Medicines Market Size

Integrative Medicines (IM) Market size was over USD 9.2 Billion in 2023 and is anticipated to reach USD 37 Billion by the end of 2036, growing at around 20% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of integrative medicines is assessed at USD 11 Billion.. The growth of the market can be attributed to the rising demand for herbal medicines all over the world. According to the Ministry of Ayush, India's total export of AYUSH and herbal medicines climbed from USD 1.09 billion in 2014 to USD 1.54 billion in 2020, a strong 5.9% annual growth rate.

In addition to these, factors that are believed to fuel the market growth of integrative medicines (IM) include the rising elderly population globally and the growing investments in the development of alternative treatment methodologies are expected to boost the growth of this market in the upcoming years. The market’s growth can also be attributed to factors such as the increasing awareness and concerns regarding mental health and the rising prevalence of chronic diseases amongst individuals around the world. According to the International Diabetes Federation (IDF), in 2019, 463 million estimated adults aged between 20-79 years were suffering from diabetes, and by 2045 the number is expected to rise to 700 million. Along with these, rising initiatives by government agencies to explore norms related to the betterment of mental & physical health is projected to offer lucrative opportunities to the market in the near future. For instance, the Indian regulatory authorities have made substantial investments in the progress and normalization of integrative medical facilities in some of the states. A government agency, known as the "Ministry of Ayush" has been set up that superintends education, development, product, research, and other Ayurveda facilities, yoga, homeopathy, and naturopathy in India.