The homeopathic medicine market is developing significantly due to the participation of many new players in this market. New participants are focusing on new technologies and introducing new product into the market. Also, the market is expected to witness a high growth rate due to growing demand for homeopathic medicines. Some of the major players in homeopathic medicine market are Hahnemann Laboratories Inc., Hyland’s Homeopathic, Natural Health Supply, Nelson & Co Ltd and SBL.
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Homeopathy is alternative medicine, which was established in Germany in the later part of the 18th century. It is based on the idea of ‘Law of Similars’. According to this principle, if a matter can produce symptoms in a healthy individual, it can treat similar symptoms in a sick individual. Homeopathic medicines are composed of natural substances in extremely diluted amounts for the treatment of a number of ailments. These medicines are prepared by repeatedly diluting and vigorous shaking of the original substance preparation in water and alcohol. Post dilution, the medicine is added to pillules or lactose tablets.
The global homeopathic products market is on the rise due to the increasing demand for homeopathy for the treatment of several diseases. According to the World Health Organization, homeopathy is the second largest medicine system displaying a growth rate of 20-25% each year. This is because homeopathy has reportedly proven to be effective for the treatment of several acute and chronic diseases. Though there is a lack of understanding of working of homeopathic medicines, these medicines are believed to be active and are curative.
Homeopathic Medicine: Market Segmentation
- Homeopathic medicine can be classified on the basis of type of treatment
- Classical homeopathy
- Clinical homeopathy
- Complex homeopathy
- Pluralistic homeopathy
- On the basis of origin
- Plant kingdom
- Animal kingdom
- Mineral kingdom
- Types of homeopathic medicines
- Classical medicines
- Constitutional medicines
- Isopathic medicines
- Complex medicines
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