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Integrative Medicines (Im) Market size is expected to surpass USD 37 Billion by the end of 2035, growing at a CAGR of 20% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of integrative medicines (IM) was USD 9 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.
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
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~20% |
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Base Year Market Size (2022) |
~ USD 9 Billion |
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Forecast Year Market Size (2035) |
~ USD 37 Billion |
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Regional Scope |
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Intervention (Botanicals, Body Healing, Mind Healing, External Energy, Sensory Healing)
The global integrative medicines (IM) market is segmented and analyzed for demand and supply by intervention into botanicals, body healing, mind healing, external energy, and sensory healing. Out of the five interventions, the botanicals segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the higher positive results and increasing consumption of ayurvedic medicines and products. Ayurveda is experiencing a renaissance in India and throughout the world. Moreover, in 2022 government anticipated that demand of ayurvedic products is likely to increase three times and jump from around USD 3 billion to nearly USD 8 billion. In addition to this, in the United States, around 240,000 use ayurvedic medicines. Moreover, increasing focus on naturopathic practice are also projected to contribute to the growth of the market segment during the forecast period. Naturopaths are in practice in more than 98 nations worldwide, accounting for 36% of all nations and every continent.
Sales Channel (Direct Sales, E-Sales, Distance Correspondence)
The global integrative medicines (IM) market is also segmented and analyzed for demand and supply by sales channel into direct sales, e-sales, and distance correspondence. Amongst these three segments, the e-sales segment is expected to garner a significant share by the end of 2035. In 2020, the sale of herbal dietary supplements in the United States topped for the first time from nearly USD 10 billion, reaching around USD 12 billion. Moreover, higher offline sales of medicines are also expected to boost segment growth. In the around USD 22–USD 24 billion domestic pharmaceutical sector, the majority of medicine sales take place in offline retail pharmacies.
Our in-depth analysis of the global market includes the following segments:
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By Intervention |
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By Sales Channel |
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MEA Market Statistics
The Middle East & Africa integrative medicines (IM) market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed majorly to the rising prevalence of chronic disorders such as cancer, cardiovascular disorders, and neurological diseases in the region. By 2045, around 136 million people will have diabetes worldwide, with the MENA area having the greatest regional prevalence of nearly 16% and the second-highest predicted growth. Moreover, diabetes-related fatalities among adults of working age are most prevalent nearly 25%) in the MENA region. Furthermore, the rising use of integrative medicine is also expected to boost the market growth in the region. A study on the use of complementary and alternative medicine in Saudi Arabia in October 2020 states that around 74% of individuals used complementary and alternative medicine to address a variety of illnesses.
Europe Market Forecast
The Europe integrative medicines (IM) market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The market growth in the region is expected on the account of increasing cases of diabetes and the strong presence of leading integrative medicine service providers in the region. As per the Organization for Economic Cooperation and Development (OECD) analysis, approximately 32.3 million adults in the European Union were diagnosed with diabetes in the year 2019. The market in Europe is also anticipated to witness growth on account of the proven success of its healthcare providers in terms of therapy development.
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February 2019: Dabur India Ltd., announced the launch of two integrative medicines, a health restorative called Ratnaprash, and Hridayasava, a medicine to improve heart health. The mission of the product launch was to popularize Ayurveda among the modern-day consumers.
November 2022: Aster DM Healthcare launched Wellth, a hub for integrative medicine for healthy people in United Arab Emirates. The goal of the center is to assist individuals live better lifestyles, treat chronic lifestyle disorders, and guard against inherited illnesses.
Author Credits: Radhika Gupta, Shivam Bhutani
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