[quote=@SlamJamcity]
In this world I imagine it would be more like magic. Mostly because it actually works here unlike in the real world.
[/quote]

[quote=@Spriggs27]
<Snipped quote by SlamJamcity>

Man it's anything nowadays, hell just putting bees in a jar is considered Alchemy, well by dragon age standards.  
[/quote]

I'm sticking my D&D veteran's nose on this discussion to say that in this kind of setting Alchemy is actually part-magic/part-science. You do a lot of chemistry related stuff, really, but some concoctions aren't possible without the use of magic. That's why on D&D you had to be able to cast magic to do some alchemical stuff. As long as [@TheWindel] agrees I think it's the best approach to take.

EDIT: I appreciate the Absolute One's almighty thumbs up. *bows in reverence*