Recently, a novel report developed using proven research methodologies at the headquarters of Fact. MR has identified various prominent factors and trends prompting market growth of Homeopathy Products Market. The study is titled as “Homeopathy Products Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022”, which deeply analyses the global market trends, with historical data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) during the mentioned forecast of 2017-2026. For the benefit of the readers, the report concludes with a special focus on the detailed profiles of the major vendors in the Global Homeopathy Products Market.
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Modern medical science has witnessed a sharp upward trend that considers symptoms as adaptive body responses. Increasing awareness of the “law of similars” has promoted the use of homeopathy products that use highly diluted small doses of natural elements in order to trigger healing abilities of human body. In addition, people have been shifting away from invasive treatments wherever possible owing to high costs and physical strain associated with these procedures. Homeopathy being non-invasive with zero stress and strain treatment has gained sufficient traction since past several years.
Realizing the widespread acceptance homeopathy treatment sector, Fact.MR analysis says that the global market for homeopathy products is meant to witness stellar growth during the period of assessment. Largely driven by growing awareness regarding effectiveness of homeopathy as a mainstream treatment for several disorders, the sale of homeopathy products has risen considerably. The sales of homeopathy products is expected to grow at a rate of 18.2% during the period of forecast, 2017-2026. Moreover, more than 1,000,000 thousand units of homeopathy products is expected to be sold by end of 2026.
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.
Key Highlights on Global Homeopathy Products Market
- Europe region is expected to reflect higher consumption of homeopathy products. The rate of consumption of homeopathy products in Europe is projected to expand at a high rate during the forecast period. Asia Pacific excluding Japan (APEJ) region is also poised to reflect higher inclination towards use of homeopathy as a medication, thus fuelling the demand for homeopathy products in the coming years. homeopathy products market in APEJ is projected to grow at a value CAGR of 18.7% during 2017-2026
- 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
- Plants are the major sources used in the production of homeopathy products. As a source type, plants account for a major market share in the homeopathy market. The plant segment is expected to largely contribute to the growth of the homeopathy products market and is estimated to reach a value of over US$ 10 Bn by end of 2026
- By application, homeopathy products are widely used in immunology treatments. Sale of homeopathy products for immunology is expected to cross US$ 7 Bn by end of assessment year. Moreover, homeopathy products have also gained sufficient traction in treatment of respiratory disorders, exclaims Fact.MR
Increasing Inclination Towards Non-Invasive Remedies to Spur Sales of Homeopathic Products
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.
Allopathy also includes strong drugs, but are not suitable for every individual. Moreover, with respect to costing, allopathic medications are highly priced and showcase temporary effect on the illnesses. The illness can return even after the dosage of the prescribed drug is over. Cases of drug abuse is another fact, owing to which people are shifting towards natural medications. Homeopathy products offer preventive measures, boost immune systems, are inexpensive and do not have side effects. This is expected to spur the sales of homeopathy products in the years to follow.
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