Press release
Homeopathy Market is expected to reach US$ 13,518.62 million by Fourrts, Allen Healthcare Co. Ltd., Hahnemann Laboratories Inc, Boiron, Homeocan Inc, Hyland's Inc, Nelson Pharmacies Limited, Weleda UK, Biologische Heilmittel Heel GmbH, and Ainsworths (Lon
Homeopathy Market
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Based on type, the homeopathy market is segmented into dilutions, tinctures, biochemics, ointments, tablets, and others. The dilutions segment held the largest share of the market in 2020. The increasing inclination toward alternate medicine for the treatment of chronic diseases is boosting the market growth for dilutions segment. Further, the ointments segment is expected to grow at the highest CAGR during 2021–2028.
The growth of the homeopathy market is primarily attributed to the key driving factors such as safety associated with homeopathic products and rise in adoption of homeopathic medicine. However, the stringent regulatory approvals hinder the market growth. Fourrts, Allen Healthcare Co. Ltd., Hahnemann Laboratories Inc, Boiron, Homeocan Inc, Hyland's Inc, Nelson Pharmacies Limited, Weleda UK, Biologische Heilmittel Heel GmbH, and Ainsworths (London) Limited are among the leading companies operating in the market.
Market Insights
Rise in Adoption of Homeopathic Medicine
There are growing customer concerns about the potential side effects of allopathic pharmaceutical drugs or regular medication. Hence, in Asian and European countries, consumers have been turning to alternative medicines such as natural remedies, homeopathy, and other supplements. Some skilled homeopaths have also been promoting the benefits of alternative medicine, especially to patients suffering from chronic health conditions such as cardiovascular disease and cancer. Moreover, a study published in the Scandinavian Journal of Public Health, 2017 stated that alternative practices are primarily used in a complementary manner or in combination with traditional medicine. For instance, Curcuma longa (turmeric) is one of the natural ingredients that is steeped in homeopathic, a traditional form of medicine that originates from India. These conventional or alternative types of medicines are gaining popularity in Europe, and natural ingredient suppliers in developing countries are benefiting. As a result of the widespread use of homeopathic treatments, the industry is expected to expand.
The report segments global homeopathy market as Follows:
By Source
Plants
Animals
Minerals
By Type
Dilutions
Tinctures
Biochemics
Ointments
Tablets
Others
By Application
Analgesic and Antipyretic
Respiratory
Neurology
Immunology
Gastroenterology
Dermatology
Others
By Distribution Channel
Homeopathic Clinics
Retailers
e-Retailers
Others
By Geography
North America
US
Canada
Mexico
Europe
France
Germany
UK
Spain
Italy
Rest of Europe
Asia Pacific (APAC)
China
India
Japan
Australia
South Korea
Rest of APAC
Middle East and Africa (MEA)
Saudi Arabia
UAE
South Africa
Rest of MEA
South and Central America (SCAM)
Brazil
Argentina
Rest of SCAM
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