The institute will develop national priorities for complementary medical research and will coordinate work on these priorities with other research bodies, with an emphasis on clinical trials and studies on herbal medicines.
The institute will also support postdoctoral training to ensure that the industry has the research personnel it needs to expand. It will also provide research findings to the medical community and general public.
The Commonwealth Government has also provided $5 million in grants through the National Health and Medical Research Council to investigate the use and effectiveness of complementary and alternative medicines.
Australian Institute of Health and Welfare statistics show that Australians spend about $1 billion annually on complementary and alternative medicines, including vitamin supplements, homeopathic medicines and traditional Asian and Indigenous medicines.