Complementary & Alternative Medicine

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Complementary & Alternative Medicine

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A $30 billion industry – the growth & trends of alternative medicine

Over the past few decades, alternative medicine has caught up with conventional medicine, at least in terms of popularity.

According to a report by the National Institutes of Health, Americans spent over $30 billion on alternative therapies in 2012. These included expenditure on homeopathy, acupuncture, supplements, yoga and meditation. The report also reveals that 59 million Americans sought out some form of alternative therapy. Out of this $30 billion, $28 billion was spent on adults while only $1.9 billion was spent on children.

It is estimated that one in five Americans spent money on at least one type of alternative therapy. Data also suggests that lower income…

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Last Updated : Saturday, April 4, 2020