Press release
Global Homeopathic Medicine Market Is Expected To Grow At a CAGR Of 12.5% During The Forecast Period 2018 to 2023
Homeopathic Medicine Market
Some of the key players in the global market are Hahnemann Laboratories Inc. (U.S.), Natural Health Supply (U.S.), Boiron USA (U.S), HomeoLab USA (Canada), SBL (India), Hyland’s Homeopathic (U.S.) and Nelson & Co. Ltd. (U.K).
The Worldwide Homeopathic Medicine Market is expected to grow at a CAGR of 12.5% during the forecast period. The global homeopathic medicine market is expected to show sharp growth over the forecast period. Rising prevalence of chronic disease and increasing demand for medicines from natural sources and overall increase in the awareness about medicines and treatment options in homeopathy drive the market growth. Furthermore, homeopathy is gaining attention in many of the emerging market throughout the globe. Lack of awareness about homeopathy in developing countries may act as a barrier for the market growth.
Homeopathy is a natural form of medicine based on the principle of cure. Most of the homeopathic medicine are diluted to render them safe for use. Homeopathic medicine from plant sources are most widely used across the globe. They have wide range of application in mental health, reproductive health, skin and hair disorder, neurological disorders and many more.
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Homeopathic Medicine Market Regional Analysis:
The Americas dominate the global homeopathic medicine market. North America is the largest market owing to growing interest of public and healthcare professionals in homeopathic medicine and therapies.
Europe is where the homeopathic medicine system originated and then spread across the world. Homeopathy is most popular in the U.K., and its homeopathic medicine system is regulated by the Society of Homeopaths, Alliance of Registered Homeopaths and Homeopathic Medical Association.
Asia Pacific is the fastest growing and potential market for the homeopathic medicine, owing to an increase in the number of homeopathic practitioners and increasing inclination towards alternative medicine. India is the largest market whose growth is attributed to a perceived effectiveness of homeopathic medicines and available infrastructure.
The Middle East & Africa is expected witness steady growth due to rising demand for homeopathy medicine in this region.
Homeopathic Medicine Market Segmentation:
The global homeopathic medicine market is segmented on the basis of type, indication, and end user.
On the basis of drugs, market is segmented into plants based, animal based, and mineral based. Plant based drug segment is further segmented into Arnica montana, Bryonia alba, Cinchona officinalis, Pulsatilla nigricans, and Rhus tox, Symphytum. Animal based drug segment is further segmented into Latrodectus mactans, Tarentula Hispania, Tarentula cubensis, Naja tripudians, Vipera, Sepia, and Cantharis. Mineral based drug segment is further segmented into Calcarea carbonica, Phosphorus, Calcarea phosphorica, Natrum muriaticuma, and others. Other segment include Nosodes, Sarcodes, and Imponderabilia.
On the basis of application, the market is market is segmented into skin & hair, reproductive health, lifestyle disorders, bones, joints, and muscles diseases, brain and nerves disorders, respiratory diseases, childhood diseases, hormonal disorders, and others.
On the basis of end user, the market is divided into hospitals, homeopathic clinics, and others.
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