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Analgesic and Antipyretic Segment to Lead Homeopathy Market During 2021–2028
According to our latest study on “Homeopathy Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Source, Application, and Distribution Channel,” the market was valued at US$ 4,609.55 million in 2020 and is projected to reach US$ 13,518.62 million by 2028; it is expected to grow at a CAGR of 14.4% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market.
The healthcare sector witnessed SARS, H1N1, and other outbreaks in the past a few years. However, the severity of COVID-19 outbreak has intensified due to its mode of transmission. North America has been witnessing an exponentially growing number of COVID-19 confirmed cases since its outbreak. The outbreak led to a chaotic situation in the medical industry across North American countries, leading to a dramatic rise in the demand for alternative medicines. Governments of various countries have been distributing the homeopathy medicines due to rising cases of COVID-19. For instance, the Cuban government distributed homeopathic remedy PrevengHo-Vir to the elderly and other vulnerable population. The homeopathy market is experiencing a positive impact amid pandemic owing to the rising demand for immunity booster medications.
Based on application, the homeopathy market is segmented into analgesic and antipyretic, respiratory, neurology, immunology, gastroenterology, dermatology, and others. The analgesic and antipyretic segment held the largest share of the market in 2020. However, the immunology segment is estimated to register the highest CAGR in the market during the forecast period. The market growth for the immunology segment can be attributed to the increasing number of COVID-19 cases and growing prevalence of autoimmune disorders.
Fourrts, Allen Healthcare Co. Ltd., Hahnemann Laboratories Inc, Boiron, Homeocan Inc, Hyland's Inc, Nelson Pharmacies Limited, Weleda UK, Biologische Heilmittel Heel GmbH, and Ainsworths (London) Limited are among the leading companies operating in the global homeopathy market.
The report segments global Homeopathy market as follows:
By Source
By Type
- Dilutions
- Tinctures
- Biochemics
- Ointments
- Tablets
- Others
By Application
- Analgesic and Antipyretic
- Respiratory
- Neurology
- Immunology
- Gastroenterology
- Dermatology
- Others
By Distribution Channel
- Homeopathic Clinics
- Retailers
- e-Retailers
- Others
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