Homeopathy Market Research Report 2019: Industry Size, Share, Trends, Growth and Opportunity Assessment, Regional Analysis and Segmentation By Types, (Analgesic & Antipyretic, Dilutions, Tincture, Biochemics), Application (Neurology, Respiratory, Immunology, Gastroenterology, And Dermatology), Source (Plants, Animals, Minerals) End User – Global Forecast Till 2023
Several companies are taking interest in the growth of the global homeopathy market. These companies are Boiron Group, Weleda, Heel, Hyland, Nelson & Co Ltd, Homeocan inc, GMP Laboratories, others. MRFR’s included these companies in their report to assess their latest movements like merger, acquisition, collaboration, new product launch, and other methods. This would give a better access to latest trends and in the understanding of how they are going to shape the market in the coming days.
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In 1796, Samuel Hahnemann introduced a new way of curing patients, that is homeopathy. Since then, it has become popular as it incurs low cost and very much user-friendly without much side-effects. This alternate medicine is founded on the belief of similarity of symptoms that is a substance triggering symptom of disease in healthy individual is bound to show same symptoms in the sick. The global homeopathy market is expected to gain 14.6% CAGR during the forecast period (2017-2023), claims Market Research Future (MRFR).
The homeopathy market is expected to thrive on its affordability, easy procedure, user-friendly methods, and others. The sector is becoming popular with pediatric & geriatric population and is known for its remarkable impact on hair and skin related problems. However, negative publicity and misleading claims can deter the homeopathy market growth. It also receives limited funds, which can prohibit smooth growth.
In June 2019, Indian government passed a bill favoring alternative medicines like homeopathy and Ayurveda, which is expected to provide better market expansion scope for homeopathy.
In June 2019, Prince Charles became patron of a group that endorses homeopathy medicine. This could be a huge boost to the market and increase its reach considerably.
MRFR, in their global Homeopathy Market, segmented it by types, application, source, and end-user. These segments are amply backed by volume-wise and value-wise data to provide a detailed insight of the market.
Based on the types, the homeopathy market is segmented into dilutions, tincture, biochemics, ointments, tablets, and others. The dilution segment has substantial market growth.
Based on the application, the homeopathy market is segmented into analgesic & antipyretic, immunology, respiratory, neurology, dermatology, gastroenterology, and others. Homeopathy is doing well in cases of chronic diseases owing to its ability to reduce cost and provide safer effects.
Based on the source, the homeopathy market can be segmented into plants, animals, and minerals.
Based on the end-user, the homeopathy market includes homeopathic clinic, hospitals, retailer, e- retailer, research laboratories, and others. The homeopathy clinic segment is garnering revenues. However, in hospitals the competition with allopathy is intense.
Europe, the Americas, Asia Pacific, and the Middle East & Africa are four major regions that have been included in the global study of the homeopathy market report conducted by MRFR.
Europe’s market dominance depends on several factors like surge in government support, increasing prevalence of chronic diseases, and well-developed technology. Countries in the region are putting forward remarkable amounts for healthcare sector owing to which alternative methods are also gaining push. This is bound to improve the regional homeopathy market scenario.
The Americas is holding the second largest share of the global homeopathy market. Several factors like well-developed technology, high healthcare expenditure, patient population, and the presence of the leading players in this region are expected to provide the homeopathy market much thrust. At the same time, health conscious people are providing significant traction to the global market.
Asia Pacific is gaining substantial CAGR and in the coming years it would be of remarkable worth. The region is thriving with rapidly improving technology, better treatment methods, and the presence of huge patient pool, particularly in economically poor regions. These factors can drive the growth of this market in Asia Pacific region.
The Middle East & Africa is the fastest growing region, however, it contributes the least to the global revenue. There are several stable countries and economically deprived ones, particularly in the African region, who are expected to push the market forward.
- Pharmaceutical Companies
- Research and Development (R&D) Companies
- Government Research Institute
- Academic Institutes and Universities
- Medical Research Laboratories
- Market Research and Consulting Service Providers
- Potential Investors
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List of Tables
Table 1 Primary Interviews
Table 2 Prices for Various Homeopathy Medicine (Usd)
Table 3 Global Homeopathy Market for Dilutions, by Region, 2014-2023 (Usd Million)
Table 4 Global Homeopathy Market for Tincture, by Region, 2014-2023 (Usd Million)
Table 5 Global Homeopathy Market for Biochemic, by Region, 2014-2023 (Usd Million)
Table 6 Global Homeopathy Market for Ointments, by Region, 2014-2023 (Usd Million)
Table 7 Global Homeopathy Market for Tablets, by Region, 2014-2023 (Usd Million)
Table 8 Global Homeopathy Market for Others, by Region, 2014-2023 (Usd Million)
Table 9 Global Homeopathy Market for Analgesic and Antipyretic, by Region, 2014-2023 (Usd Million)
Table 10 Global Homeopathy Market for Respiratory, by Region, 2014-2023 (Usd Million)
List of Figures
Figure 1 Global Homeopathy Market, by Types, 2016 (%)
Figure 2 Global Homeopathy Market, by Application, 2016 (%)
Figure 3 Global Homeopathy Market, by Source, 2016 (%)
Figure 4 Global Homeopathy Market, by Region, 2016 (%)
Figure 5 Market Structure of Global Homeopathy Market
Figure 6 Research Methodology
Figure 7 Global Homeopathy Market: Forecast Model
Figure 8 Value Chain: Global Homeopathy Market
Figure 9 Global Homeopathy Market, by Type, 2016 & 2023 (%)
Figure 10 Global Homeopathy Market, by Applications, 2016 & 2023 (Usd Million)
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