Homeopathic Product Market (Product Type: Tincture, Dilutions, Bio-chemic, Ointments, Tablets, and Others; Application: Analgesic & Antipyretic, Respiratory, Neurology, Immunology, Gastroenterology, Dermatology, and Others; and Source: Plants, Animals, and Minerals) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2030

Description

Path-breaking Gene-targeted Homeopathic Treatment Creates Incremental Opportunities for Companies

Gene-targeted homeopathic treatment is bringing about a change in the homeopathy product market. This revolutionary treatment is a new entrant in the sector of personalized medicines and is redefining the future of healing. Hence, healthcare companies are increasing their R&D in this novel treatment to capitalize on market growth. For instance, Batra’s Positive Health Clinic Pvt. Ltd.-a chain of homeopathy clinics in India, announced the launch of Dr. Batra's™ Geno Homeopathy in the UAE market.

Companies in the homeopathy product market are innovating through medicines that are both natural and effective. This explains why the revenue of tablets is projected for exponential growth in the market for homeopathy products, where the market is estimated to reach a revenue of ~US$ 18.6 Bn by the end of 2027. Advantages of gene-targeted treatment are benefitting individuals, since the treatment is based on the patient’s genetic make-up. Companies in the market for homeopathy products are gauging value-grab opportunities, as the gene-targeted treatment is scientific and uniquely planned for individuals of all age groups.

Homeopathy Products and Remedies Gain Popularity amidst COVID-19 Crisis

The newly circulating COVID-19 (Coronavirus) has created an unprecedented demand for homeopathy products. As suggested by the Indian Government’s Ministry of AYUSH— an organization that offers alternative medicine systems in the country, has released a health advisory on January 29, 2020, which advocates the use of homeopathic treatment and medicines to improve patient quality of life. India being one of the leading economies of Asia Pacific is contributing toward robust growth as per revenue basis in the homeopathy product market.

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Thousands of individuals worldwide have been affected due to coronavirus. The current COVID-19 crisis is anticipated to generate incremental opportunities for healthcare providers in the homeopathy product market. As such, Unani medicines are being highly publicized for the symptomatic management of fatal infection. Growing awareness about Ayurvedic practices are bolstering market growth. Homeopathic preparations such as Arsenicum album 30C and sesame oil are being increasingly used for prevention against the virus.

Companies Focus on Plant-based Sources to Produce Tincture and Ointments

The homeopathy product market is progressing at an explosive CAGR of ~14% during the forecast. However, common myths surrounding homeopathy products are likely to impede market growth. For instance, there is a serious misconception that homeopathic medicines are all the same i.e. ‘sweet pills’ in white color. Hence, companies dealing in homeopathic medicines are increasing awareness that the medicines may look alike but their formulations are different from each other. Innovations such as the gene-targeted treatment is establishing a healthcare system where no two patients with similar ailments are given the same medicine.

Companies in the homeopathy product market are increasing their R&D activities to derive basic ingredients of homeopathic medicines from plants and minerals. As such, the revenue of plant-based sources are predicted for a stellar growth in the market. Thus, manufacturers are increasing their production capabilities to produce mother tincture, dilutions, and ointments, among others. As such, the revenue of tincture is projected to account for the second-highest revenue among all products in the market for homeopathy products.

Breakthrough Homeopathy Software Deploys Intelligent Search and Analysis from Several Repertories

Next-gen homeopathy software is grabbing the attention of individuals and market players alike. Hence, companies in the homeopathy product market are exploring untapped opportunities in the software domain to broaden their revenue streams. For instance, Hompath— a software company in Mumbai, India, is gaining market recognition for introducing the Hompath Zomeo, a breakthrough software that helps practitioners arrive at prescriptions within minutes. Companies in the homeopathy product market are increasing their efficacy in developing software integrated with huge volumes of homeopathy books that deploy intelligent and accurate search.

Novel homeopathy software are gaining prominence in the market for homeopathy products, owing to its cost and time-efficiency. Provision of accurate data and intuitive tools are becoming the key focus points for software developers. As such, developers are gaining expertise in the development of systems integrated with repertory software to provide instant search and analysis from several repertories.

Analysts’ Viewpoint

Amidst the recent outbreak of COVID-19, the demand for homeopathy medicines is witnessing an unprecedented surge in the homeopathy product market. This explains why the revenue of respiratory applications is projected for aggressive growth during the forecast period. Gene-targeted treatment is being highly publicized in the market landscape.

Apart from immunology, companies are increasing focus in agricultural homeopathy to generate revenue streams. Homeopathy has grown popular in the U.S. where large-scale retailers are increasing the availability of homeopathy products. However, lack of accepted clinical evidence validating the effectiveness of the products are likely to impede market growth. Hence, companies should collaborate with practitioners dealing in mainstream medicine and have a keen interest in homeopathy, in order to establish sustainable business practices.

Homeopathy Product Market: Overview

The homeopathy product market for the historical period of 2017–2018 and forecast of 2019–2027, prevalence of various diseases; increase in geriatric population; and rise in patient population propel the adoption of homeopathy, thereby boosting the homeopathy product market

According to the report, the global homeopathy product market was valued at US$ 5.6 Bn in 2018. The homeopathy product market is expected to expand at a CAGR of ~14% during the forecast period from 2019 to 2027.

Rise in Prevalence of Diseases such as Chronic Diseases: A Key Driver of Homeopathy Product Market

Chronic diseases are the leading causes of death and disability worldwide. Disease rates from these conditions are accelerating globally, advancing across every region, and pervading all socioeconomic classes.

According to the World Health Organization, chronic disease prevalence is expected to rise by 57% by 2020. Emerging markets would be the hardest hit, as population growth is anticipated to be most significant in developing countries.

Homoeopathy is known for curing the chronic diseases from the roots and the basic principles on which it is founded have to be really followed for the rational healing and curing. According to the British Homeopathic Association, homeopathy is a natural form of medicine used by over 200 million people worldwide to treat both acute and chronic conditions.

Increase in Demand for Complementary and Alternative Medicine (CAM)/Traditional Medicine: Driver of Homeopathy Product Market

Homeopathy as a complementary and alternative medicine (CAM) and a holistic medicine solves several modern medical problems. Homeopathy, about 200 years old branch of medicine, was first introduced by Samuel Hahnemann, a German physician in 1810 and treatment for diseases with about 3,000 homeopathic remedies was addressed based on a golden principle named as “Like cure like” (similia similibus curentur).

According to the Complementary and Alternative Medicine – European Patients’ Forum Briefing Paper published in 2013, complementary and alternative medicine (CAM) is increasingly used by patients across the European Union. The WHO estimates that 100 million people in Europe are using traditional and alternative medicines.

According to the Homeopathy Research Institute (HRI), worldwide, over 200 million people use homeopathy on a regular basis. Homeopathy is included in the national health systems of a number of countries such as Brazil, Chile, India, Mexico, Pakistan, and Switzerland.

Lack of Evidence of Effectiveness of Homeopathy: A Key Restraint of Homeopathy Product Market

According to the European Patients Forum, CAM is controversial amongst healthcare professionals, the scientific community, and policy makers. Opponents insist that no scientifically valid evidence has been found about their effectiveness and that complementary therapies are based on pseudo-scientific models.

Lack of evidence studies for the safety and efficacy of complementary and alternative therapies hinders the market growth. Compared to conventional medicine, the research in homeopathy is less even though research in this field is increasing and the Cochrane Library lists over 4,000 randomized trials.

According to the NHS, an extensive investigation of the effectiveness of homeopathy has been done and no good-quality evidence is available yet, which proves that homeopathy is effective as a treatment for any health condition

In Australia, in 2015, the National Health and Medical Research Council (NHMRC) released a statement on homeopathy based on its own review of available clinical evidence. NHMRC concluded, no reliable evidence was available that proved homeopathy is effective for any health condition.

Thus, lack of evidence of effectiveness of homeopathy can hamper the growth of the homeopathy product market

Homeopathy Product Market: Competition Landscape

This report on homeopathy product market profiles major players in the global homeopathy product market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments

Prominent players operating in the homeopathy product market include 

  • BOIRON
  • Dr. Reckeweg & Co. GmbH
  • Hyland's
  • Hahnemann Laboratories, Inc.
  • Dr. Willmar Schwabe GmbH & Co. KG
  • Biologische Heilmittel Heel GmbH
  • Homeocan inc.
  • Ainsworths (London) Limited
  • PEKANA, 
  • SBL Pvt. Ltd.     

Key Questions Answered in Homeopathy Product Market Report

  • What is the sales/revenue generated by homeopathy product market across all regions during the forecast period?
  • What are the opportunities in the global homeopathy product market?
  • What are the major drivers, restraints, opportunities, and threats in the global market?
  • Which region is set to expand at the fastest CAGR during the forecast period?
  • Which type segment is expected to generate the highest revenue globally in 2027? Which segment is projected to expand at the highest CAGR during the forecast period?
  • What are the market positions of different companies operating in the global market?

Homeopathy Product Market – Segmentation

Product Type

  • Tincture
  • Dilutions
  • Bio-chemic
  • Ointments
  • Tablets
  • Others

Application

  • Analgesic & Antipyretic
  • Respiratory
  • Neurology
  • Immunology
  • Gastroenterology
  • Dermatology
  • Others

Source

  • Plants
  • Animals
  • Minerals

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
  • North America

TABLE OF CONTENT

1. Preface

    1.1. Market Definition and Scope

    1.2. Market Segmentation

    1.3. Key Research Objectives

    1.4. Research Highlights

2. Assumptions and Research Methodology

3. Executive Summary: Global Homeopathy Product Type Market 

4. Market Overview

    4.1. Introduction

        4.1.1. Product Type Definition

        4.1.2. Industry Evolution / Developments

    4.2. Overview

    4.3. Market Dynamics

        4.3.1. Drivers

        4.3.2. Restraints

        4.3.3. Opportunities

    4.4. Global Homeopathy Product Type Market Analysis and Forecast, 2017–2030

        4.4.1. Market Revenue Projections (US$ Mn)

5. Market Outlook

    5.1. Key Industry Events (Mergers, Acquisitions, Product Launch, etc.)

    5.2. Advancements in Homeopathy Product Market

6. Global Homeopathy Product Type Market Analysis and Forecast, by Product Type 

    6.1. Introduction & Definition

    6.2. Key Findings / Developments

    6.3. Market Value Forecast, by Product Type, 2017–2030

        6.3.1. Tincture 

        6.3.2. Dilutions 

        6.3.3. Bio-chemics 

        6.3.4. Ointments 

        6.3.5. Tablets 

        6.3.6. Others 

    6.4. Market Attractiveness, by Product Type 

7. Global Homeopathy Product Type Market Analysis and Forecast, by Application 

    7.1. Introduction & Definition

    7.2. Key Findings / Developments

    7.3. Market Value Forecast, by Application, 2017–2030

        7.3.1. Analgesic and Antipyretic 

        7.3.2. Respiratory 

        7.3.3. Neurology 

        7.3.4. Immunology 

        7.3.5. Gastroenterology 

        7.3.6. Dermatology 

        7.3.7. Others 

    7.4. Market Attractiveness, by Application 

b

    8.1. Introduction & Definition

    8.2. Key Findings / Developments

    8.3. Market Value Forecast, by Source, 2017–2030

        8.3.1. Plants 

        8.3.2. Animals 

        8.3.3. Minerals 

    8.4. Market Attractiveness, by Source 

9. Global Homeopathy Product Type Market Analysis and Forecast, by Region

    9.1. Key Findings

    9.2. Market Value Forecast, by Region

        9.2.1. North America 

        9.2.2. Europe 

        9.2.3. Asia Pacific 

        9.2.4. Latin America 

        9.2.5. Middle East & Africa 

    9.3. Market Attractiveness, by Region

10. North America Homeopathy Product Type Market  Analysis and Forecast

    10.1. Introduction

        10.1.1. Key Findings

    10.2. Market Value  Forecast, by Product Type, 2017–2030

        10.2.1. Tincture 

        10.2.2. Dilutions 

        10.2.3. Bio-chemics 

        10.2.4. Ointments

        10.2.5. Tablets 

        10.2.6. Others 

    10.3. Market Value Forecast, by Application, 2017–2030

        10.3.1. Analgesic and Antipyretic 

        10.3.2. Respiratory 

        10.3.3. Neurology 

        10.3.4. Immunology 

        10.3.5. Gastroenterology 

        10.3.6. Dermatology 

        10.3.7. Others 

    10.4. Market Value Forecast, by Source, 2017–2030

        10.4.1. Plants 

        10.4.2. Animals 

        10.4.3. Minerals 

    10.5. Market Value Forecast, by Country, 2017–2030

        10.5.1. U.S.

        10.5.2. Canada

    10.6. Market Attractiveness Analysis 

        10.6.1. By Product Type 

        10.6.2. By Application 

        10.6.3. By Source 

        10.6.4. By Country

11. Europe Homeopathy Product Type Market  Analysis and Forecast

    11.1. Introduction

        11.1.1. Key Findings

    11.2. Market Value Forecast, by Product Type, 2017–2030

        11.2.1. Tincture 

        11.2.2. Dilutions 

        11.2.3. Bio-chemics 

        11.2.4. Ointments 

        11.2.5. Tablets 

        11.2.6. Others 

    11.3. Market Value  Forecast, by Application, 2017–2030

        11.3.1. Analgesic and Antipyretic 

        11.3.2. Respiratory 

        11.3.3. Neurology 

        11.3.4. Immunology 

        11.3.5. Gastroenterology 

        11.3.6. Dermatology 

        11.3.7. Others 

    11.4. Market Value Forecast, by Source, 2017–2030

        11.4.1. Plants 

        11.4.2. Animals 

        11.4.3. Minerals 

    11.5. Market Value Forecast, by Country/Sub-region, 2017–2030

        11.5.1. Germany

        11.5.2. U.K.

        11.5.3. France

        11.5.4. Spain

        11.5.5. Italy

        11.5.6. Russia

        11.5.7. Rest of Europe

    11.6. Market Attractiveness Analysis 

        11.6.1. By Product Type 

        11.6.2. By Application 

        11.6.3. By Source 

        11.6.4. By Country/Sub-region

12. Asia Pacific Homeopathy Product Type Market  Analysis and Forecast

    12.1. Introduction

        12.1.1. Key Findings

    12.2. Market Value Forecast, by Product Type, 2017–2030

        12.2.1. Tincture 

        12.2.2. Dilutions 

        12.2.3. Bio-chemics 

        12.2.4. Ointments 

        12.2.5. Tablets 

        12.2.6. Others 

    12.3. Market Value  Forecast, by Application, 2017–2030

        12.3.1. Analgesic and Antipyretic 

        12.3.2. Respiratory 

        12.3.3. Neurology 

        12.3.4. Immunology 

        12.3.5. Gastroenterology 

        12.3.6. Dermatology 

        12.3.7. Others 

    12.4. Market Value Forecast, by Source, 2017–2030

        12.4.1. Plants 

        12.4.2. Animals 

        12.4.3. Minerals 

    12.5. Market Value Forecast, by Country/Sub-region, 2017–2030

        12.5.1. China

        12.5.2. Japan

        12.5.3. India

        12.5.4. Australia & New Zealand

        12.5.5. Rest of Asia Pacific

    12.6. Market Attractiveness Analysis 

        12.6.1. By Product Type 

        12.6.2. By Application 

        12.6.3. By Source 

        12.6.4. By Country/Sub-region

13. Latin America Homeopathy Product Type Market  Analysis and Forecast

    13.1. Introduction

        13.1.1. Key Findings

    13.2. Market Value Forecast, by Product Type, 2017–2030

        13.2.1. Tincture 

        13.2.2. Dilutions 

        13.2.3. Bio-chemics 

        13.2.4. Ointments 

        13.2.5. Tablets 

        13.2.6. Others 

    13.3. Market Value Forecast, by Application, 2017–2030

        13.3.1. Analgesic and Antipyretic 

        13.3.2. Respiratory 

        13.3.3. Neurology 

        13.3.4. Immunology 

        13.3.5. Gastroenterology 

        13.3.6. Dermatology 

        13.3.7. Others 

    13.4. Market Value Forecast, by Source, 2017–2030

        13.4.1. Plants 

        13.4.2. Animals 

        13.4.3. Minerals 

    13.5. Market Value Forecast, by Country/Sub-region, 2017–2030

        13.5.1. Brazil

        13.5.2. Mexico

        13.5.3. Rest of Latin America

    13.6. Market Attractiveness Analysis 

        13.6.1. By Product Type 

        13.6.2. By Application 

        13.6.3. By Source 

        13.6.4. By Country/Sub-region

14. Middle East & Africa Homeopathy Product Type Market  Analysis and Forecast

    14.1. Introduction

        14.1.1. Key Findings

    14.2. Market Value Forecast, by Product Type, 2017–2030

        14.2.1. Tincture 

        14.2.2. Dilutions 

        14.2.3. Bio-chemics 

        14.2.4. Ointments 

        14.2.5. Tablets 

        14.2.6. Others 

    14.3. Market Value Forecast, by Application, 2017–2030

        14.3.1. Analgesic and Antipyretic 

        14.3.2. Respiratory 

        14.3.3. Neurology 

        14.3.4. Immunology 

        14.3.5. Gastroenterology 

        14.3.6. Dermatology 

        14.3.7. Others 

    14.4. Market Value Forecast, by Source, 2017–2030

        14.4.1. Plants 

        14.4.2. Animals 

        14.4.3. Minerals 

    14.5. Market Value Forecast, by Country/Sub-region, 2017–2030

        14.5.1. GCC Countries

        14.5.2. South Africa

        14.5.3. Rest of Middle East & Africa

    14.6. Market Attractiveness Analysis 

        14.6.1. By Product Type 

        14.6.2. By Application 

        14.6.3. By Source 

        14.6.4. By Country/Sub-region

15. Competition Landscape

    15.1. Market Player – Competition Matrix (By Tier and Size of companies)

    15.2. Market Share/Ranking Analysis, by Company (2018)

    15.3. Company Profiles

        15.3.1. BOIRON 

            15.3.1.1. Company Overview (HQ, Business Segments, Employee Strength)

            15.3.1.2. Growth Strategies

            15.3.1.3. SWOT Analysis

        15.3.2. Dr. Reckeweg & Co. GmbH 

            15.3.2.1. Company Overview (HQ, Business Segments, Employee Strength)

            15.3.2.2. Growth Strategies

            15.3.2.3. SWOT Analysis

        15.3.3. Hyland's 

            15.3.3.1. Company Overview (HQ, Business Segments, Employee Strength)

            15.3.3.2. Growth Strategies

            15.3.3.3. SWOT Analysis

        15.3.4. Hahnemann Laboratories, Inc. 

            15.3.4.1. Company Overview (HQ, Business Segments, Employee Strength)

            15.3.4.2. Growth Strategies

            15.3.4.3. SWOT Analysis

        15.3.5. Dr. Willmar Schwabe GmbH & Co. KG 

            15.3.5.1. Company Overview (HQ, Business Segments, Employee Strength)

            15.3.5.2. Growth Strategies

            15.3.5.3. SWOT Analysis

        15.3.6. Biologische Heilmittel Heel GmbH 

            15.3.6.1. Company Overview (HQ, Business Segments, Employee Strength)

            15.3.6.2. Growth Strategies

            15.3.6.3. SWOT Analysis

        15.3.7. Homeocan inc. 

            15.3.7.1. Company Overview (HQ, Business Segments, Employee Strength)

            15.3.7.2. Growth Strategies

            15.3.7.3. SWOT Analysis

        15.3.8. Ainsworths (London) Limited 

            15.3.8.1. Company Overview (HQ, Business Segments, Employee Strength)

            15.3.8.2. Growth Strategies

            15.3.8.3. SWOT Analysis

        15.3.9. PEKANA 

            15.3.9.1. Company Overview (HQ, Business Segments, Employee Strength)

            15.3.9.2. Growth Strategies

            15.3.9.3. SWOT Analysis

        15.3.10. SBL Pvt. Ltd. 

            15.3.10.1. Company Overview (HQ, Business Segments, Employee Strength)

            15.3.10.2.  Growth Strategies

            15.3.10.3.  SWOT Analysis

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