The Australian complementary medicines industry has experienced steady growth in recent years, with annual revenue reaching AUD$6.2 bn (US$4.2bn) in 2024. As we previously reported​, AUD$1.2bn (US$806m) was accounted for by exports.

At home, the market is forecast to have a compound annual growth rate (CAGR) of 5.7% over the next five years, according to a new Industry Snapshot​ published by trade body Complementary Medicines Australia.

It noted that over 75% of Australian households use complementary medicines, particularly those with higher education and income levels. It said growth was being driven by increasing rates of chronic diseases, an ageing population and a desire for natural solutions.

“Given Australia’s ageing population and the increasing incidence of chronic diseases, the demand for these therapies and products is expected to rise further. This demographic shift is prompting more individuals to seek out preventive measures and integrative health solutions to maintain their quality of life. Empowering well-informed health consumers is integral to improving outcomes and fortifying the population’s resilience, ensuring the long-term sustainability of essential healthcare services,” it added.

The top five most common chronic conditions identified in Australia are mental and behavioural conditions (26.1%), back problems (15.7%), arthritis (14.5%), asthma (10.8%), and diabetes (5.3%).

In terms of the best-selling vitamins and dietary supplements in Australia, women’s health continues to reign supreme as the most popular segment, accounting for 20.6% of the market, valued at $352.2 million in 2024.