Growing awareness of alternative medicine has presented huge pathway for growth in adoption of homeopathy products. Individuals across the globe are opting for effective yet natural medications that offer permanent healing without side effects. People are more inclined towards medications, for instance homeopathy, that offer permanent cure to avoid unnecessary healthcare costs and inconvenience.
This has led to an upsurge in the use of alternative medicines, and in turn supported the growth in sales of homeopathy products. This has offered companies involved in manufacturing and distribution of homeopathy products an upward growth path with increasing number of patients preferring homeopathy over invasive medications and allopathy.
Vendors operating in the global homeopathy products market are Ainsworths Ltd., Mediral International Inc., Hahnemann Laboratories, Inc., Homeocan Inc., Washington Homeopathic Products, Inc., Standard Homeopathic Company (Hyland’s, Inc.), GMP Laboratories of America, Inc., A Nelson & Co Ltd., Biologische Heilmittel Heel GmbH and Boiron Group.
According to analysis carried out by Fact.MR, the global market for homeopathy products is poised to expand at a high value CAGR during the period of assessment, 2017-2026. By end of the year of assessment (2026), the sales of homeopathy products are estimated to touch a valuation of more than US$ 23 Bn and is projected to expand at a volume CAGR of 17.1% during the period of forecast. This growth in sales of homeopathy products is mainly driven by rising awareness of homeopathy treatment and increasing preference for zero side effect medications and economical but effective drugs.
Homeopathy – a Holistic Treatment, Gaining Steam Since Past Several Years
Homeopathy considers several facets that describe well-being of an individual and is recognized as a holistic medication or therapy. Daily activity level and biological age are primary aspects that the practitioner of homeopathy considers that helps him/her to decide the frequency and duration of homeopathic medication and the entire course of treatment. Severity of the disorder and ailment type are also studied that determine the course of the treatment and dosage.
Practitioners consider adaptiveness, social background, temperament, as well as responsiveness to medicine during treatment plan. As per homeopathic principle, these factors are acting catalysts or positively impact the treatment success, consequently making it a holistic medication. This is expected to support the sale of homeopathy products in the long run.
Key Highlights on Global Homeopathy Products Market