The Global Homeopathy Market is expected to register 14.60% CAGR and is anticipated to reach USD 31,459.6 Million by 2023. Homeopathy is a field of alternative medicine. It works on the principle of similarity of symptoms, i.e., a substance causing symptoms of disease in a healthy individual will show the same symptoms in the sick. Homeopathic medicine involves treatment using natural sources such as plants, animals, and chemicals or minerals. It involves the administration of small doses of medicines with specific compositions. Homeopathy is known to be originated in Europe, brought up in the US, and progressed in India., The growing incidences of chronic and infectious diseases, increased research and development investment (R&D), and technological advancements are the major drivers propelling market growth. However, the high cost of the components of the homeopathy medicines and the production constrains the growth of the market., Market Dynamics, The growing need for alternative treatment methodologies for chronic diseases is expected to drive the growth of the market during the forecast period. For instance, according to the World Health Organization, homeopathic medicine is the fastest growing and second most widely used system of medicine in the world. Additionally, it is an economical treatment alternative. Homeopathic medicine is safe and effective, easy to use, and user-friendly for all age groups of patients, especially for the growing pediatric and geriatric population. On the other hand, negative opening and publicity against homeopathy medicine, false advertising, and misleading claims made by homeopaths are anticipated to hamper the market growth., Global Homeopathy Market Size, by Source, 2017 (USD Million), , Source: MRFR Analysis, Segmentation, The global homeopathy market has been segmented into type, application, source, and end user. , By type, the global market has been segmented into tablets, ointments, biochemics, tincture, dilutions, and others., Based on applicati

The Global Homeopathy Market is expected to register 14.60% CAGR and is anticipated to reach USD 31,459.6 Million by 2023. Homeopathy is a field of alternative medicine. It works on the principle of similarity of symptoms, i.e., a substance causing symptoms of disease in a healthy individual will show the same symptoms in the sick. Homeopathic medicine involves treatment using natural sources such as plants, animals, and chemicals or minerals. It involves the administration of small doses of medicines with specific compositions. Homeopathy is known to be originated in Europe, brought up in the US, and progressed in India.

The growing incidences of chronic and infectious diseases, increased research and development investment (R&D), and technological advancements are the major drivers propelling market growth. However, the high cost of the components of the homeopathy medicines and the production constrains the growth of the market.

Market Dynamics

The growing need for alternative treatment methodologies for chronic diseases is expected to drive the growth of the market during the forecast period. For instance, according to the World Health Organization, homeopathic medicine is the fastest growing and second most widely used system of medicine in the world. Additionally, it is an economical treatment alternative. Homeopathic medicine is safe and effective, easy to use, and user-friendly for all age groups of patients, especially for the growing pediatric and geriatric population. On the other hand, negative opening and publicity against homeopathy medicine, false advertising, and misleading claims made by homeopaths are anticipated to hamper the market growth.

Global Homeopathy Market Size, by Source, 2017 (USD Million)



Source: MRFR Analysis

Segmentation

The global homeopathy market has been segmented into type, application, source, and end user.

By type, the global market has been segmented into tablets, ointments, biochemics, tincture, dilutions, and others.

Based on application, the global market has been segmented into dermatology, gastroenterology, immunology, neurology, respiratory, analgesic and antipyretic, and others.

Based on source, the global market has been segmented into minerals, animals, plants. The minerals segment accounted for a market value of USD 7110.5 million in 2017.

By end user, the global market has been segmented into homeopathic clinics, hospitals, retailer, E-retailer, research laboratories, and others.

Key Players

The prominent players in the global homeopathy market are Boiron Group, Weleda, Heel, Hyland’s, Nelsons & Co Ltd, GMP Laboratories, and Homeocan Inc.

Some of the key strategies followed by the players operating in the global homeopathy market are innovation, product development, acquisition, and expansion.

Asia-Pacific Homeopathy Market Share, by Country, 2017 (%)



Source: MRFR Analysis

Regional Analysis

The global homeopathy market, based on region, is segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

The Americas is expected to account for the second-largest share of the global homeopathy market during the forecast period owing to the presence of a significant patient population, well-developed technology, high healthcare expenditure, and the presence of the leading players.

The European market for homeopathy is expected to dominate the market during the forecast period. The vast patient population suffering from cancer and increasing government support for research & development is expected to boost the growth of the market in this region.

Asia-Pacific is estimated to be the fastest-growing market due to the increasing need for better treatment methods, rapidly improving technology, and the presence of a vast patient pool. In addition to this, developing healthcare sector and increasing government support has also fueled the market growth. Moreover, South Korea accounted for a market share of 10.1% in 2017.

The market in the Middle East & Africa is expected to witness steady growth due to the presence of slow but steady developing countries.

Key Updates



In June 2017, Boiron group launched sportenine in 33- tablet format in France.





In June 2015, Hyland’s Inc. launched new Hyland’s four Kids Bumps ‘n Bruises with Arnica. This is a topical ointment stick that provides safe and effective relief of bruising, pain, and swelling with Arnica Montana, a widely used homeopathic medicine.



Market Segmentation

Global Homeopathy Market, by Type



Tablets



Ointments



Biochemics



Tincture



Dilutions



Others



Global Homeopathy Market, by Application



Dermatology



Gastroenterology



Immunology



Neurology



Respiratory



Analgesic and Antipyretic



Others



Global Homeopathy Market, by Source



Minerals



Animals



Plants



Global Homeopathy Market, by End User



Research Laboratories



E- Retailer



Retailer



Hospitals



Homeopathic Clinic



Others



Global Homeopathy Market, by Region



Americas



US

Canada

South America











Europe



Western Europe



Germany

UK

France

Italy

Spain

Rest of Western Europe





Eastern Europe











Asia-Pacific



China

Japan

India

Australia

South Korea

Rest of Asia-Pacific











Middle East & Africa



UAE

Saudi Arabia

Oman

Kuwait

Qatar

Rest of Middle East & Africa









Available Additional Customizations



Additional Companies



Hahnemann Laboratories Inc.

SBL

Mediral International Inc.

Ainsworths Ltd







Challenges in Global Homeopathy Market



Intended Audience



Medical device manufacturers and distributors



Government research organizations



Hospitals and clinics



Regulatory agencies



Pharmaceutical companies



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