Alternative Medicine - Global Outlook

  • ID: 1084162
  • Report
  • Region: Global
  • 148 Pages
  • Global Industry Analysts, Inc
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The global outlook series on the Alternative Medicine Industry provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. Illustrated with 31 fact-rich market data tables, the report offers a rudimentary overview of the industry, and highlights latest trends and demand drivers. 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 433 companies worldwide.

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ALTERNATIVE MEDICINE

A GLOBAL OUTLOOK, JANUARY 2012

CONTENTS

1. INDUSTRY OVERVIEW 1
Outlook 1
Current Scenario 1
Key Global Statistics 3
Table 1: World Recent Past, Current & Future Analysis for
Traditional Medicine by Geographic Region - North America,
Europe, Asia-Pacific (including Japan), and Rest of World
Markets Independently Analyzed with Annual Sales Figures in
US$ Million for Years 2010 through 2015 3

Table 2: World 5-Year Perspective for Traditional Medicine
Market by Geographic Region: Percentage Breakdown of Value
Sales for North America, Europe, Asia-Pacific (including
Japan) and Latin American Markets for Years 2011 & 2015 4

Table 3: Percentage of Population in the Developed Countries
Using Complementary and Alternative Medicine (CAM) (2011) 4
Factors Driving the Market Growth 4
Market Challenges 5
Alternative Medicine - Down the Time Lane 5
Table 4: World Alternative Medicine Market (2011): Percentage
Share Breakdown by Type of Modality - Herbal Medicine,
Traditional Chinese Medicine, Homeopathic Medicine, and
Ayurvedic Medicine 6
Market Dynamics 6
Rising Health Care Costs Drive Market Growth 6
Table 5: Global Healthcare Market (2010): Breakdown of Per
Capita (US$) Health Expenditure by Select Countries 7

Table 6: Global Healthcare Market (2010): Breakdown of
Percentage Contribution of Healthcare Expenditure to GDP for
Select Countries 7
Developing Countries - Major Markets for Alternative Medicine 8
Table 7: Percentage of Population in the Developing
Countries Using Complementary and Alternative Medicine
(CAM) As Primary Health Care (2011) 8
Sloppy Regulations - A Major Area of Concern 8
Practitioner Channels Drive Market Growth 9
WHO Initiatives to Increase CAM Usage 9
Trends Across Market Segments 9
Homeopathy - Still Going Strong 9
Homeopathy for Women's Health 10
Herbalism - Still There, However Slowing Down 10
Table 8: World Herbal Medicine Market (2011)- Percentage
Value Share Breakdown by Region/Country - Germany,
Asia-Pacific, Japan, France, and North America, and Rest of
World 10
Ayurveda Fails to Create Enthusiasm 11
TCM Market - ‘All Set' for Rapid Growth 11

2. ALTERNATIVE MEDICINE - AN OVERVIEW 12
Unconventional Approach to Healthcare 12
Advantages of Alternative Medicine 12
CAM - An Introduction 12
AM and CAM - The Difference 13
Side Effects 13
Alternative Medicine Vs Conventional Medicine 14
Making Conventional Medicine Mainstream - Challenges Posed
.. 14

3. ALTERNATIVE MEDICINE - A CLASSIFICATION 16
Massage Therapy - An Introduction 16
Method of Application 16
Homeopathy 17
The Underlying Concept 17
Mind/Body Medicine 17
Definition 17
Mind/Body Technique - Acceptance with Mainstream Medicine 18
Herbalism or Herbal Medicine 18
An Introduction 18
Origin 18
Medicinal Herbs 19
Associated Risks 20
Chiropractic 20
Naturopathy: The Natural Healer 21
Naturopathic Treatment 21
Ayurveda - The Traditional Way to Cure 21
Synopsis 21
Practices 22
Yoga 22
Introduction 22
Advantages of Yoga 23
Acupuncture 23
Benefits of Acupuncture 23
Acupuncture Market on the Upswing 24
Acupuncture: A Historical Review 25
Risks and Adverse Effects 25
Traditional Chinese Medicine 26
Traditional Diagnosis 26
Kampo Medicine 26
Aromatherapy 26
Scientifically Unproven Alternative Medicines 27
Energy Therapies 27
Biologic Treatments 27

4. REGULATORY FRAMEWORK 28
Regulations and Beyond: An Insight 28
Regulations in the Regional Markets 28
Regulations for Massage Therapy 29
Herbalism - Quality Control 29
Acupuncture - Legal and Political Scenario 29

5. RESEARCH STUDIES 31

6. MERGERS & ACQUISITIONS 34

7. STRATEGIC CORPORATE DEVELOPMENTS 40

8. OTHER DEVELOPMENTS 50

9. PRODUCT INNOVATIONS/ INTRODUCTIONS 52

A REGIONAL MARKET PERSPECTIVE 58

1. THE UNITED STATES 58
Future Looks Bright 58
Americans Turn to Alternative Medicine 58
Growing Prevalence of Alternative Medicine 58
Table 9: Percentage of American Adults Using Complementary
and Alternative Medicine (CAM) Therapies by Type (2011) 59

Table 10: Alternative Medicine Market in the US (2011):
Percentage Breakdown of Usage by Type of Disease - Back Pain,
Neck Pain, Joint Pain, Arthritis, Cold, Cholesterol, and
Others 59
Growth Drivers 59
Market Trends 60
Cost - A Major Growth Driver 60
Demographic Drivers 60
Table 11: Percentage of US Population Using Complementary
and Alternative Medicine (CAM) by Race and Ethnicity
(2011) 60

Table 12: Percentage of US Population in Each Age Category
Using Complementary and Alternative Medicine (CAM)
Therapies (2011) 61
Children - Potential Users of CAM Therapies 61
Table 13: Percentage of American Children Using Various
Complementary and Alternative Medicine (CAM) by Therapy
(2011) 61

Table 14: Percentage of American Children Using
Complementary and Alternative Medicine (CAM) by Disease
(2011) 62
Table 15: Percentage of American Children Using Various
Natural Products (2011) 62
Massage Therapy - Moving Ahead 62
Table 16: Percentage of US Population in Each Age Category
Using Massage Therapy (2011) 63

Table 17: Major Reasons for Massage Therapy in the US (2011) 63
The Road Ahead 63
Alternative Therapies Occupy More Shelf Space 63
Chiropractic Maintains Heady Pace 64
Pediatric Chiropractic Care Gains Momentum 64
Aging Population: A Weighty Demographic Driver 64
Herbal Supplements Continue to Post Gains 64
Traditional Chinese Medicine Gaining Popularity in the US 65
Usage of CAM in Chronic Liver Disease Treatment Rises 65
CAM for Cancer - Focus of Research Organizations 65

2. CANADA 67
Alternative Medicine in Canada 67
Massage Therapy Gains Upper Hand 67
Companies Devise New Strategies 67
Traditional Chinese Medicine Market Expands in Canada 67

3. JAPAN 69
CAM Gaining Popularity in Japan 69
Growing Veterinary Use of CAM 69
Research Based Scientific Evidence - Need of The Hour 69
Kampo Medicine - A High Growth Market 69
Insurance Coverage for Acupuncture and Kampo 70
Market for Dietary Supplements Continues to Grow 70

4. EUROPE 71
An Overview 71
Herbal Medicine Continues to Grow 71
Table 18: Europe Recent Past, Current & Future Analysis for
Alternative Medicine Market by Geographic Region - France,
Germany, Italy, UK, Spain, Russia, Rest of Europe Markets
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2010 through 2015 72

Table 19: Europe 5-Year Perspective for Alternative Medicines
Market by Geographic Region: Percentage Breakdown of Value
Sales for France, Germany, Italy, UK, Spain, Russian, Rest
of Europe Markets for Years 2011 & 2015 73
Regulatory Scenario 73
Homeopathy Market 73

4a. THE UNITED KINGDOM 74
CAM Market - An Insight 74
Greater Consumer Acceptance Propels Growth 74
Regulatory Scenario 74
Regulations for Acupuncture 75
Herbal Medicine Continues to Grow 75
Competitive Landscape 76
Regulatory Scenario 76
Homeopathy Prescriptions Drop in the UK 76

4b. DENMARK 77
An Overview 77
Growing Use of CAM Therapies Among Cancer Patients 77
Table 20: Percentage of Cancer Patients Using Complementary
and Alternative Medicine (CAM) Therapies in Denmark by
Product Type (2011) .. 77

Table 21: Percentage of Cancer Patients Consulting
Complementary and Alternative Medicine (CAM) Practitioners in
Denmark (2011) 78

Table 22: Percentage of Cancer Patients Using Complementary
and Alternative Medicine (CAM)Therapy in Denmark (2011) 78

5. ASIA-PACIFIC 79
Key Statistics 79
Table 23: Asia-Pacific Recent Past, Current & Future
Analysis for Alternative Medicines Market by Geographic
Region -Japan, China, India, Rest of Asia-Pacific Markets
Independently Analyzed with Annual Sales Figures in US $
Million for Years 2010 through 2015 79

Table 24: Asia-Pacific 5-Year Perspective for Alternative
Medicines Market by Geographic Region: Percentage Breakdown
of Value Sales for Japan, China, India, Rest of Asia-Pacific
Markets for Years 2011 & 2015 80

5a. CHINA 81
Current Market Scenario 81
TCM Market - An Overview 81
Table 25: Retail Pharmacy Market in China (2011): Percentage
Share Breakdown by Type - Western Medicine, Traditional
Chinese Medicine, and Health Supplements 82
Market Structure 82
Factors Influencing the Market 82
Impact of Global Economic Slowdown 82
Government Support Drives Market Growth 83
Regulatory Scenario 83
Growth Restraining Factors 83
Herbal Medicine - A Growing Segment 84
Export-Import Scenario 84

5b. INDIA 85
Alternative Medicine in India 85
Market Challenges 85
Tourism to Spur Growth 85
Herbal Medicine Gaining Upper Hand 86
Players and their Strategic Moves 87
Homeopathy Market - An Overview 87
Table 26: Indian Recent Past, Current & Future Analysis for
Homeopathy - Annual Sales Estimates and Projections in US$
Million for Years 2008through 2012 87

Table 27: Indian Recent Past, Current & Future Analysis for
Homeopathy - Annual Number of Users for Years 2008 through
2012 in Million 88
Growth Drivers 88
Market Challenges 89
Homoeopathy Medicine Fails to Penetrate Overseas Markets 89
Combination Drugs to Drive Alternative Medicine Market 89
Ayurveda Continues to Gain Popularity 90
Competitive Scenario 90
Table 28: Leading Players in the Indian Ayurvedic Medicine
Market (2011): Percentage Value Share Breakdown by Leading
Company - Dabur, Baidyanath, Zandu, Himani, and Others 90
Government Promotes Unani Medicine System 91

5c. TAIWAN 92
An Overview 92
Huge Potential for Pharma and Biotech Companies 92
Government Initiates Policies to Promote CAM Therapies 92
Herbal Medicine Gaining Prominence 92
Lack of Research Limits Veterinary Use of Herbal Medicine 93

5d. AUSTRALIA 94
Market Overview 94
Table 29: Alternative Medicine Market in Australia (2011):
Percentage Breakdown of Number of Practitioners by Type 94
Product Segments - Facts & Figures 95
Table 30: Alternative Medicine Market in Australia (2011) -
Percentage Value Share Breakdown by End-Use - Arthritis and
Pain (Bone, Joint, and Muscle), Multivitamin and Minerals,
Nutritional Oils, Women's Health, Cold and Flu, Energy
Pills, and Others 95
Organizations Continue to Focus on Research Studies 95
Distribution Scenario 96
Pharmacies Remain the Primary Distribution Channel 96
Table 31: Nutritional Supplements Market in Australia
(2011):: Percentage Breakdown of Sales by Distribution
Channel 96
Baby Boomers to Fuel Alternative Medicine Segment 96
Stringent Regulations to Assure Quality of Products 97
US Manufacturers Eyeing Potential Australian Market 97
Massage Therapy - A High Growth Market 97

GLOBAL DIRECTORY
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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.

Global Industry Analysts ©
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