The Most Reliable Treatment Option Available by Using Natural Sources is Homeopathy

Published On: September 2018

Global Homeopathy Market Research Report - Forecast to 2023

Homeopathy Overview

Homeopathy, includes only natural substances which are used in highly diluted preparations so as that dilute that there is no presence of original substance present anymore. Nevertheless many patients have reported significant benefits from homeopathy medicines. However, homeopathy medicine appear to be very safe and effective treatment method available.

The market for homeopathy has been on the rise over the past few years. Based on MRFR analysis, the market for homeopathy is expected to reach around USD 31459.6 million by 2023 from USD 12118.9 million in 2016 at CAGR of 14.60%. The growth and innovation in the homeopathy, will continue to evolve in future.  

Why is homeopathy so popular?

Homeopathy is a system of natural health care that has been in worldwide use for over 200 years. It is recognized by the World Health Organization as the second largest therapeutic system in use in the world. While it is most popular in India and South America, over thirty million people in Europe also benefit from its practice. For instance in France, 40% of the population uses homeopathic medicines and around 30% of physicians prescribe them and is also very popular in the U.K.

Homeopathic treatment works with body’s own healing powers to bring about health and well-being. In homeopathy treatment patients are treated as an individual, not as a collection of disease labels. Generally, homeopathy treats all the symptoms at all levels of such as spiritual, emotional, mental and physical and finds the ‘like cures like’ match for them. Homeopathically prepared remedies, provides the minimum dose, and are gentle, subtle and powerful and they are non-addictive, and not tested on animals.

Factors limiting market growth?

Some of the disadvantages for homeopathy medicine are lack of research & development in the field of homeopathy, poor awareness campaign in favor of homeopathy medicine. In some cases false advertising and misleading claims made by homeopaths may create false impression about the homeopathic medicines. However, misleading claims could leads to worse scenario, life threatening & wrong perception about homeopathy medicine, which might create permanent damage & threat to the industries growth. 

Moreover, not much development of homeopathic medicines when it comes to treating chronic diseases which is other side of market to be focused.   

What is future of the homeopathy market?

Due to rising demand of homeopathic treatment, existing and new marketers are coming up with innovative homeopathic products. For instance, in 2017, Boiron launched, Sporténine in 33-tablet format in France, and Stodal multi-symptom in Canada which is particularly for children. Whereas in 2016 Boiron had launched,  Arnigel in 120 gram format in France and Spain,  Sédatif PC in 90 tablet format in Italy and Portugal, Magnésium 300 in Portugal and Slovakia,  Homéoptic and Stodaline in Belgium, Oscillococcinum in 30 dose format in South Africa,  Camilia in 30 single dose format in Tunisia which is most effective product of Boiron group. OTC Brand, Children's Medicines, Single Medicines, and Women’s Line are the lucrative products offered by major by Boiron group. Whereas, Weleda incurred 2.1% rise in global sales of the natural and organic cosmetics business segment compared to its 2015 revenue. Product portfolio of waleda includes Aconite 30C 125tabs, Dry Skin & Eczema Relief Oral Spray, Arnica 30C 125tabs, Aconite 30C 125tabs, Belladonna 30C 125tabs, Calc. Fluor. 30C 125tabs, Cold Relief Oral Spray 20ml, Digestive Relief Oral Spray 20ml, Hayfever Relief Oral Spray 20ml, Muscular Pain Relief Spray 20ml, Rhus Tox. 30C 125tabs, Pulsatilla 30C 125tabs, Nux Vom. 30C 125tabs. Growth regions of waleda are Western Europe, South America, Asia and Pacific as well as Central and Eastern Europe including Russia were primarily responsible for the increase.

The other major market player Hyland had launched “Find Your Finish Line” to support Boston marathon runners and new Hyland’s 4 Kids Bumps ’n Bruises with Arnica by creating awareness about homeopathy. Apart from the existing products, there are various products present in the pipeline for skin care and allergies by top players.

On the other hand, there are plenty of large and small market players available in the market which provide a wide range of products for all age groups of patients which will create market for homeopathic medicines.

Moreover, the ever developing field of pharmaceuticals will witness an exponential uptake of innovative trends out of sheer convenience to impart a better customer satisfaction and effective remediation.