Report : Asia Pacific Homeopathy Market Forecast to 2030 - Regional Analysis - by Source (Plants, Animals, and Minerals), Type (Dilutions, Tinctures, Biochemics, Ointments, Tablets, and Others), Application (Analgesic and Antipyretic, Respiratory, Neurology, Immunology, Gastroenterology, Dermatology, and Others), and Distribution Channel (Homeopathic Clinics, Retail Pharmacies, E-Retailers, and Others)
At 15.4% CAGR, the Asia Pacific Homeopathy Market is Speculated to be worth US$ 4,443.39 million by 2030, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific homeopathy market was valued at US 1,416.80 million in 2022 and is expected to reach US$ 4,443.39 million by 2030, registering a CAGR of 15.4% from 2022 to 2030. Safety associated with homeopathic products and rise in adoption of homeopathic medicine are the critical factors attributed to the Asia Pacific homeopathy market expansion.
There are growing concerns about the potential side effects of allopathic pharmaceutical drugs or regular medication. In Asian countries, consumers have been turning to alternative medicines, such as natural remedies, homeopathy, and herbal medicines. Some skilled homeopaths have also been promoting the benefits of alternative medicines, especially to patients suffering from chronic health conditions such as cardiovascular disease and cancer. A study published in the Scandinavian Journal of Public Health in 2017 stated that alternative practices are primarily used in a complementary manner or in combination with traditional medicine. For instance, Curcuma longa (turmeric), a traditional form of medicine that originates from India, is one of the natural ingredients that is steeped in homeopathy. The preference for orally administered medications and drugs without any side effects has been on the rise for a long, and it would continue to grow in the coming years. Allopathy contains strong medications; however, they are not appropriate for everyone. Furthermore, allopathic drugs are expensive and only have a transient effect on illnesses. Moreover, despite the completion of the course of prescribed drugs, the illness can resurface. Cases of drug abuse are more common with allopathic medicines, which is another factor for the shifting focus toward natural medications. Homeopathy remedies, on the other hand, are inexpensive and exhibit no or negligible side effects. Thus, the increasing adoption of homeopathic medicine bolsters the homeopathy market growth. This is expected to drive the Asia Pacific homeopathy market during the forecast period.
On the contrary, stringent approach by regulatory authorities and shortage of homeopathic facilities & doctors hurdles the growth of Asia Pacific homeopathy market.
Based on source, the Asia Pacific homeopathy market is categorized into plants, animals, and minerals. The plants segment held 61.5% market share in 2022, amassing US$ 870.96 million. It is projected to garner US$ 2,759.75 million by 2030 to expand at 15.5% CAGR during 2022–2030.
Based on type, the Asia Pacific homeopathy market is categorized into dilutions, tinctures, biochemics, ointments, tablets, and others. The dilutions segment held 26.0% share of Asia Pacific homeopathy market in 2022, amassing US$ 367.78 million. It is projected to garner US$ 1,139.13 million by 2030 to expand at 15.2% CAGR during 2022–2030.
Based on application, the Asia Pacific homeopathy market is categorized into analgesic and antipyretic, respiratory, neurology, immunology, gastroenterology, dermatology, and others. The immunology segment held 24.2% share of Asia Pacific homeopathy market in 2022, amassing US$ 342.55 million. It is projected to garner US$ 1,124.85 million by 2030 to expand at 16.0% CAGR during 2022–2030.
Based on distribution channel, the Asia Pacific homeopathy market is categorized into homeopathic clinics, retail pharmacies, e-retailers, and others. The homeopathic clinics segment held 35.3% share of Asia Pacific homeopathy market in 2022, amassing US$ 499.91 million. It is projected to garner US$ 1,615.41 million by 2030 to expand at 15.8% CAGR during 2022–2030.
Based on country, the Asia Pacific homeopathy market has been categorized into Australia, Malaysia, India, Japan, New Zealand, and the Rest of Asia Pacific. Our regional analysis states that India captured 24.5% share of Asia Pacific homeopathy market in 2022. It was assessed at US$ 346.41 million in 2022 and is likely to hit US$ 1,125.51 million by 2030, exhibiting a CAGR of 15.9% during 2022–2030.
Key players operating in the Asia Pacific homeopathy market are Fourrts; Boiron; Biologische Heilmittel Heel GmbH; DHU-Arzneimittel GmbH & Co. KG; Allen Healthcare Co. Ltd., and Dr Reckeweg & Co GmbH among others.
- In Mar 2022, New pharmaceutical production for homeopathic manufacturer Dr. Reckeweg.
- In May 2020, Fourrts marketed Arsenicum Album 30C against COVID.
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