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In selecting a career and deciding what work youβd like to devote yourself to for the rest of your life, a huge question β one as important as whether you enjoy the work itself β is whether you going to be employable? Is there a market for your skills? And what kind of earnings are you likely to achieve?.
The demand for alternative, complementary healthcare is burgeoning according to recent market reports. In 2023, the alternative and complementary healthcare market share holds around 34-35% of the overall market, signifying a significant portion of the healthcare market dedicated to natural and holistic approaches to treatment. The US complementary and alternative health-care market size is expected to hit US$229.billion by 2033 and is projected to grow at a rate of 23.11% during the forecast period from 2024 to 2033. (1)
Research oriented toward the use of traditional medicines for the treatment of a wide variety of diseases, particularly chronic conditions, is set to gain traction in the coming years.
Research oriented toward the use of traditional medicines for the treatment of a wide variety of diseases, particularly chronic conditions, is set to gain traction in the coming years.
Government authorities and professional groups across the globe are keen on promoting economically-advantageous traditional alternatives for the treatment of chronically-affected individuals.
This trend has emerged specifically after research studies performed on the potential of different holistic modalities (herbal medicine, acupuncture, mind-body medicine) to offer effective prevention and treatment to such individuals have yielded very encouraging results, which is expected to have a positive impact on the employment market growth. Robust government funding for clinical studies along these lines is expected to overcome this limitation in the near future.
This range encompasses annual wages of from $62,400 (bottom 10th percentile) to $194,670 (top 10th percentile). How much one earns from the practice of Ayurveda is dependent upon the type of one's practice (in a clinic or group vs. solo practice) and one's location.(2) According to the National Ayurvedic Medical Association, there isnβt a specific and separate median salary for the Ayurvedic profession at present, since so many practitioners are self-employed and earnings depend on patient base and rates charged. However, similarly situated professionals earn median annual salaries as indicated above.(3)
Most recently, the enactment of CPT codes by the American Medical Association underscore the valued of Ayurvedic counselling, paving the way for such services to potentially be covered by most insurance programs. These codes are what are used by medical professionals to submit services to health insurance companies, and the introduction of health coaching (including ayurvedic services) CPT codes is a huge step in the direction of enhancing the ayurvedic practitioner's income and creating enhanced demand for his or her services. (4)
Sources:
(1) Complementary And Alternative Medicine Market Size, Share & Trends Report - Grand View Research
(2) U.S. Bureau of Labor Statistics 2023 Median Salaries
(3) How Much Can I Earn as a Holistic Health Practitioner? NaturalHealers.com at www.naturalhealers.com/holistic-health/salaries
(4) Occupational Employment and Wage Statistics - US Bureau o Labor Statistics