Integrative Medicines Market Trends

Growth Drivers

Rising Prevalence of Chronic Disease - Diseases such as piles, rheumatoid arthritis, jaundice, and many more are still incurable by allopathy. Nonetheless, Ayurveda has been successful in treating and controlling these illnesses. Around 0.5% of adults worldwide suffer from rheumatoid arthritis (RA), which affects around 20–50 per 100,000 people each year, mostly women over the age of 40.
Rising Government Expenditure on Ayurveda - Over the past seven years, the overall budget allocated to the Ayush Ministry for the National Ayush Misson’s (NAM) cost-effective Ayush services has increased by more than four times, from around USD 83 Million to nearly USD 370 Million.
Number of People Inclined to Yoga - Several types of yoga decreased the biochemical indicators of inflammation in numerous chronic diseases. Yoga is frequently practiced by about 300 million individuals worldwide. In addition to this, around 36 million Americans routinely practice yoga.
Increasing Count of Clinical Trials for Ayurvedic Medicine– Higher clinical trials are expected to launch new products. From July 1, 2018, to March 31, 2020, around 9700 trials were registered in Clinical Trials Registry-India (CTRI), out of all, around 1400 were cited as the type of study.
Higher Number of Wellness Centers - Wellness centers offer various health services for both the body and mind, it provides internal healing of a person. According to NITI Aayog around 150,000 Health and Wellness Centers (HWCs) that are expected to be created as part of the Ayushman Bharat Program.

Challenges

Poor Understanding of Integrative Medicines - Many people who promote and purchase fake products do so in the name of Ayurveda, which is frequently unjustified. Tulasi is considered to have teeksha (pungent) and ushna (hot) characteristics in Ayurveda medicine. While typically safe to consume, doing so in excess may increase the chances of underlying bleeding conditions. Therefore, lack of full understanding of integrative medicines is likely to hamper the market growth
Lack of Scientific Evidences Supporting the Integrative Medicines
Rising Use of Allopathic Medicines

Integrative Medicines (Im) Market: Key Insights

Base Year	2023
Forecast Year	2024-2036
CAGR	20%
Base Year Market Size (2023)	USD 9.2 Billion
Forecast Year Market Size (2036)	USD 37 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of integrative medicines is assessed at USD 11 Billion.

The 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. Rising adoption of natural remedies, higher trials of ayurvedic medicines, growing preference of yoga and increasing cases of chronic diseases are the major factors driving the market growth.

European industry is projected to hold the largest revenue share by 2036, on the account of increasing cases of diabetes and the strong presence of leading integrative medicine service providers in the region.

Columbia Nutritional, The Healing Company Ltd., Aphria Inc., Nordic Nutraceuticals, Ayush Ayurvedic Pte Ltd, Pure Encapsulations, LLC., Dabur India Ltd, Rocky Mountain Oils, Sydler India Pvt. Ltd.

Integrative Medicines Market Trends