6. Traditional and Alternative Medicines

Traditional Medicine is a system of primary health care that includes acupuncture, Chinese herbal medicine, remedial massage, exercise and breathing therapy and diet and lifestyle advice. In Australia, the most popular forms of TCM health care are acupuncture and Herbal Medicine. It has an uninterrupted history of development in China and other parts of East Asia dating back thousands of years. 

Alternative medicines utilization started in the mid of nineteenth century. Amid this time, alternative medical practitioners picked up prevalence and started to contend with conventional medical experts. Alternative medicine provides great healing effects as scientific medicine. Alternative medicine may treat as complimentary methods that improve the efficacy of treatment. Due to its healing effects Alternative Medicine usage is increasing more frequently.

 Traditional Chinese Medicine (TCM) market is rapidly developing since later of 1990s. In 2010, the output value of TCM amounted to RMB317.2 billion (about €36.8 billion), which increased 24%. The net yield and profits of TCM production is much higher than the average for the country's medical industry. The total TCM market in China will rise to €96,2 billion in 2025.

The report of this is expected to generate a revenue of USD 196.87 billion by 2025, as per the latest report by Grand View Research, Inc. Factors such as the increase in adoption of alternative medicine by people combined with the government initiatives of a number of key countries to enhance reach is expected to help in expansion revenue generation avenues.

 

  • 6.1 Traditional Chinese Medicine
  • 6.2 Traditional Japanese Medicine
  • 6.3 Traditional Korean Medicine
  • 6.4 Yoga
  • 6.5 Electromagnetic therapy
  • 6.6 Meditation
  • 6.7 Physiotherapy and massage

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