5 Fascinating Facts About Traditional Chinese Medicine in Australia
Ancient Wisdom Meets Modern Healthcare: The Rise of Traditional Chinese Medicine in Australia.
AACMA In-House Writer
September, 2024
​Australia’s traditional medicine industry, particularly acupuncture and herbal medicine, is making a substantial impact on both the nation's healthcare system and its economy, according to a recent report by KPMG, commissioned by the Australian Acupuncture and Chinese Medicine Association (AACMA).
“This report highlights how valuable our industry is, not only in improving health outcomes but also in contributing to Australia’s broader economy,” said Waveny Holland, President of AACMA. “The growing demand for traditional therapies reflects a shift towards more holistic approaches to healthcare.”
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Here are five fascinating insights from the report that demonstrate the significant role traditional Chinese medicine (TCM) is playing in Australia:​​
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1. $740 Million Combined Social Benefit
The combined social benefit of acupuncture and herbal medicine amounts to $740 million, improving health outcomes and reducing the burden on the public healthcare system. These therapies provide effective, complementary care options for individuals seeking a more holistic approach to health.​
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2. $328 Million Direct Economic Contribution​
TCM contributes an impressive $304.4 to $328.7 million annually to Australia’s economy. The demand for acupuncture and herbal treatments continues to grow, showcasing their increasing relevance in modern healthcare.
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3. 4,823 Registered Practitioners​
With 4,823 registered practitioners licensed by the Chinese Medicine Board of Australia, the industry is well-positioned to serve the nation. These professionals offer a wide range of treatments across the country, ensuring access to traditional therapies for a broad spectrum of the population.
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4. $703 Million Health Insurance Spend in FY23​
Australians spent about $703 million on natural therapies in FY23, which includes acupuncture. Both private and government-backed health insurance plans now recognize these treatments as essential components of healthcare, reflecting a growing trend toward integrating traditional and modern medical practices.
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5. 8.2 Million Acupuncture and Natural
Therapy Services​
Last year, an estimated 8.2 million acupuncture and other natural therapy services were accessed through private health insurance. This widespread use highlights the popularity and trust Australians place in these treatments.
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Waveny Holland is optimistic about the future of traditional medicine in Australia. "As we continue to develop research, enhance practitioner skills, and better integrate with conventional healthcare, we see vast potential for growth in the years ahead," she says.
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These findings underscore the increasing role that traditional medicine plays in Australia’s healthcare system. As more people turn to natural therapies to complement conventional treatments, TCM is poised for further growth and influence in the coming years.
