Rising Trend Towards the Adoption of Alternative Medicines is Driving the Global Homeopathy Market

The global homeopathy market is anticipated to grow at a considerable CAGR of 14.4% during the forecast period (2021-2027). The growing awareness and development of educational institutes regarding medical education and homeopathy are driving the growth of the homeopathy and alternative medicine market. As per the data released by the government of India, in 2021, the Prime Minister Narendra Modi passed three Bills related to alternative medicine during the ongoing Monsoon Session. The Bill sought the merger of three Ayurveda institutes at Jamnagar into the Institute of Training and Research in Ayurveda (ITRA), which would be established in Jamnagar, Gujarat. The Institute would aim to develop teaching patterns and in-depth study and research in medical education in Ayurveda as well as a pharmacy. The education would be undertaken at the undergraduate and postgraduate levels, and it would set standards for all other Ayurvedic medical colleges in India. The institute will aim to bring to one place top-level educational facilities to train people in all branches of Ayurveda, including pharmacy. Furthermore, the institute tends to produce medical teachers for the country 

The bill further sought to repeal the Homoeopathy Central Council Act, 1973, and establish a quality education system for homeopathy medicine. National Commission for Homoeopathy Act, 2020 provides for a medical education system that improves easy access to standard and inexpensive medical education. The act certifies the availability of adequate and high-quality homeopathy medical professionals in all parts of the country.

Market Coverage

• The market number available for – 2020-2027
• Base year- 2020
• Forecast period- 2021-2027
• Segment Covered
• Regions Covered- Globally

Competitive Landscape- including Boiron, GMP Laboratories of America Inc., Hahnemann Laboratories, Inc., JNSON LABORATORIES (P) LTD., SBL, Dr. Willmar Schwabe India Pvt Ltd., and others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominates the market in base year?
• Which segment and region will project fastest growth in the market?
• How COVID-19 impacted the market?

o Recovery Timeline

o Deviation from pre-COVID forecast

o Most affected region and segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Homeopathy Market Report Segment

By Type

• Tablets

• Ointments 

• Tincture

• Dilutions

• Others 

By Source

• Minerals

• Animals

• Plants 

By Application

• Dermatology

• Gastroenterology

• Immunology & Neurology

• Respiratory

• Analgesic and antipyretic

• Others 

Global Homeopathy Market Report Segment by Region