At 14.4% CAGR, the Europe Homeopathy Market is Projected to be worth US$ 6,859.34 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Europe homeopathy market was valued at US$ 2,346.30 million in 2022 and is expected to reach US$ 6,859.34 million by 2030, registering a CAGR of 14.4% from 2022 to 2030. Safety associated with homeopathic products and rise in adoption of homeopathic medicine are the critical factors attributed to the Europe homeopathy market expansion.             

In Europe, there is a notable shift towards holistic healthcare approaches that consider physical, mental, and emotional aspects of well-being. Homeopathic medicine use is commonplace in Europe, where awareness of the practice is still high (79% of French, 60% of Germans, 57% of Italians, and 47% of Spaniards have used homeopathic drugs in their lifetimes), as per European Coalition on Homeopathic & Anthroposophic Medicinal Products. Additionally, there is a high level of satisfaction with this course of treatment. In Germany, 90% of patients find homeopathic remedies to be fully or partially effective, while 84% of Spanish patients, 81% of Italian patients, and 73% of French patients who are aware of this course of treatment have faith in it. The majority of people in these four nations see homeopathy as an adjunct to conventional medicine and believe it should be recommended or made available. For example, in Germany, two-thirds of people (including 75 percent of women) think homeopathic medicines should continue to be sold alongside conventional medicines. Homeopathy should be suggested by medical professionals, according to 84% of Italians and 80% of Spaniards, while 83% of people in France believe that doctors should be able to prescribe homeopathy in addition to conventional medications. The popularity of and interest in homeopathy in Europe reflects the general trend of patients being more concerned with their own health. Since the COVID-19 pandemic, there has been a significant increase in health literacy, and individuals are actively participating in their own care and learning about health in all of its aspects. Thus, rising awareness and acceptance of homeopathy across the region are expected to offer lucrative opportunities to the players operating in the homeopathy market. This is expected to drive the Europe homeopathy market during the forecast period.

On the contrary, stringent approach by regulatory authorities and shortage of homeopathic facilities & doctors hurdles the growth of Europe homeopathy market. 

Based on source, the Europe homeopathy market is categorized into plants, animals, and minerals. The plants segment held 61.1% market share in 2022, amassing US$ 1,433.15 million. It is projected to garner US$ 4,233.63 million by 2030 to expand at 14.5% CAGR during 2022–2030.

Based on type, the Europe homeopathy market is categorized into dilutions, tinctures, biochemics, ointments, tablets, and others. The dilutions segment held 25.8% share of Europe homeopathy market in 2022, amassing US$ 604.61 million. It is projected to garner US$ 1,745.46 million by 2030 to expand at 14.2% CAGR during 2022–2030.

Based on application, the Europe homeopathy market is categorized into analgesic and antipyretic, respiratory, neurology, immunology, gastroenterology, dermatology, and others. The immunology segment held 24.1% share of Europe homeopathy market in 2022, amassing US$ 565.98 million. It is projected to garner US$ 1,732.34 million by 2030 to expand at 15.0% CAGR during 2022–2030.

Based on distribution channel, the Europe homeopathy market is categorized into homeopathic clinics, retail pharmacies, e-retailers, and others. The homeopathic clinics segment held 35.2% share of Europe homeopathy market in 2022, amassing US$ 826.12 million. It is projected to garner US$ 2,488.45 million by 2030 to expand at 14.8% CAGR during 2022–2030.

Based on country, the Europe homeopathy market has been categorized into Russia, Poland, Czech Republic, Hungary, Bulgaria, Romania, the UK, Germany, France, Italy, Spain, and the Rest of Europe. Our regional analysis states that Germany captured 18.9% share of Europe homeopathy market in 2022. It was assessed at US$ 444.59 million in 2022 and is likely to hit US$ 1,301.77 million by 2030, exhibiting a CAGR of 14.4% during 2022–2030.            

Key players operating in the Europe homeopathy market are Fourrts; Boiron; Nelson Pharmacies Limited; Weleda UK; Biologische Heilmittel Heel GmbH; Ainsworths (London) Limited; DHU-Arzneimittel GmbH & Co. KG; Dr Reckeweg & Co GmbH; Similasan Corp; and PEKANA Naturheilmittel Gmb, among others.

• In Dec 2020, Launched FILOFLUE, (Homeopathic Preparation) for treatment of Flu like symptoms.
• In July 2022, Boiron partnered with Galenica's Verfora in Switzerland.

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