Complementary Medicines - UK - December 2009
Growth in the UK’s £213 million complementary medicines market has gathered pace in the last two years. It is estimated to have grown in value by some 18% between 2007 and 2009 when Mintel last reviewed the industry.
- Between 2005 and 2009, growth in sales of complementary medicines (by value) has outperformed the rest of the over-the-counter (OTC) and healthcare market, albeit from a smaller base.
- In the last 12 months, 12 million adults have used some form of complementary medicine or therapy. Men are less likely to be users but are open-minded to trying them in the coming year.
- The poor performance of the economy could boost the market as stress and tension illnesses increase.
- Legislative changes could lend credibility to the industry and increase its standing as a recognised discipline within the eyes of the public.
- With over one in four would-be users, the complementary medicines market has very real potential for strong growth.
- Potential users of complementary therapies, such as acupuncture or reflexology, are put off by a fear of being ‘conned’ or ‘ripped off’.
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