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.
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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.
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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.
With respect to product type, dilutions have gained high preference since past years. The sale of dilutions is estimated to reach a higher value by end of the assessment year. On the other hand, homeopathy tablets are also gaming high traction. With simplicity in use and handling and at the same time delivering increased effectiveness of the medication, demand for tablets is expected to rise at a meteoric rate in the coming future
Invasive treatments to cure disorders and malignancies are considered as last resort by people, who are more focused on using alternative medications such as naturopathy and homeopathy. With growing demand for medications that are to be consumed orally, supported by increasing preference for orally administered medications and drugs that are exempt of side effects, consumption of homeopathy products is set to increase in the coming years.
The global market for homeopathy products is highly competitive and consists of numerous international and regional vendors. Competitive environment in homeopathy products market is expected to intensify in the years to follow with growth in innovations and product line extensions based on treatment of various disorders and ailments. Key participants in the global homeopathy products market include Boiron Group, Biologische Heilmittel Heel GmbH, A Nelson & Co Ltd., GMP Laboratories of America, Inc., and Standard Homeopathic Company (Hyland’s, Inc.), to name a few.
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