At 12.4% CAGR, the Middle East & Africa Homeopathy Market is Projected to be worth US$ 717.38 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Middle East & Africa homeopathy market was valued at US 282.16 million in 2022 and is expected to reach US$ 717.38 million by 2030, registering a CAGR of 12.4% from 2022 to 2030. Safety associated with homeopathic products and rise in adoption of homeopathic medicine are the critical factors attributed to the Middle East & Africa homeopathy market expansion.             

Similar to plant-based foods, plant-based dietary supplements have gained huge popularity among consumers, which presents an opportunity for plant-based supplement suppliers in developing countries. According to Google Trends, the popularity of veganism ramped up sevenfold between 2014 and 2019. Consumers are giving up meat for two main reasons: perceived health benefits and ethical & environmental issues. Meat production requires intensive use of resources, especially land and water, as well as operations in meat slaughterhouses and production & processing facilities leading to the release of greenhouse gases. The pandemic also shed light on poor working conditions in the meat industry. These factors led to severe effects on the sales of dietary supplements sourced from animals. The COVID-19 pandemic has also benefited the homeopathic remedies trend as consumers sought to boost their immunity levels by using these preparations. Natural ingredients used in these health products such as the high vitamin C content of baobab help improve and strengthen immune system function. The growing aging population is another factor driving the demand for plant-based dietary supplements; these individuals seek to boost their immune systems and overall health. In addition to the rising preference for plant-based dietary supplements, growth strategies adopted by companies in the homeopathy market are expected to bring new trends into the market in the future. In April 2022, Dr. Batra's Clinic expanded its footprint in smaller towns and cities, and it is expected to introduce a homeopathy clinic network to 225 centers in the upcoming year. This would improve the accessibility of homeopathy medicines in untapped region and developing countries. In October 2022, Kaps3 Lifesciences Pvt Ltd launched its “Kaps3 Homeopathy Division.” The company launched this product category on World Homeopathy Day. This is expected to drive the Middle East & Africa homeopathy market during the forecast period.

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

Based on source, the Middle East & Africa homeopathy market is categorized into plants, animals, and minerals. The plants segment held 61.2% market share in 2022, amassing US$ 172.68 million. It is projected to garner US$ 443.61 million by 2030 to expand at 12.5% CAGR during 2022–2030.

Based on type, the Middle East & Africa homeopathy market is categorized into dilutions, tinctures, biochemics, ointments, tablets, and others. The dilutions segment held 25.6% share of Middle East & Africa homeopathy market in 2022, amassing US$ 72.20 million. It is projected to garner US$ 181.30 million by 2030 to expand at 12.2% CAGR during 2022–2030.

Based on application, the Middle East & Africa homeopathy market is categorized into analgesic and antipyretic, respiratory, neurology, immunology, gastroenterology, dermatology, and others. The immunology segment held 24.1% share of Middle East & Africa homeopathy market in 2022, amassing US$ 68.14 million. It is projected to garner US$ 180.92 million by 2030 to expand at 13.0% CAGR during 2022–2030.

Based on distribution channel, the Middle East & Africa homeopathy market is categorized into homeopathic clinics, retail pharmacies, e-retailers, and others. The homeopathic clinics segment held 35.7% share of Middle East & Africa homeopathy market in 2022, amassing US$ 100.61 million. It is projected to garner US$ 263.57 million by 2030 to expand at 12.8% CAGR during 2022–2030.

Based on country, the Middle East & Africa homeopathy market has been categorized into the UAE, South Africa, and the Rest of Middle East & Africa.  Our regional analysis states that the Rest of Middle East & Africa captured 45.3% share of Middle East & Africa homeopathy market in 2022. It was assessed at US$ 127.87 million in 2022 and is likely to hit US$ 319.38 million by 2030, exhibiting a CAGR of 12.1% during 2022–2030.

Key players operating in the Middle East & Africa homeopathy market are Fourrts, Boiron, Biologische Heilmittel Heel GmbH, DHU-Arzneimittel GmbH & Co. KG, and sDr 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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