Report : North America 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 15.1% CAGR, the North America Homeopathy Market is Speculated to be worth US$ 5,066.80 million by 2030, says Business Market Insights
According to Business Market Insights’ research, the North America homeopathy market was valued at US$ 1,648.42 million in 2022 and is expected to reach US$ 5,066.80 million by 2030, registering a CAGR of 15.1% from 2022 to 2030. Safety associated with homeopathic products and rise in adoption of homeopathic medicine are the critical factors attributed to the North America homeopathy market expansion.
Homeopathic medicines are widely considered safe as they are prescribed after special preparation processes. These involve the repeated steps of dilution and succussion of shaking at each dilution. Common potencies used are “30C,” diluted 1:100 30-times, and “200C,” diluted 1:100 20,000-times. Thus, such highly diluted medicines are prescribed by skilled professionals, which are deemed safe and are not likely to cause severe side effects. On December 6, 2022, FDA issued a final guidance, Homeopathic Drug Products, that describes the agency’s approach to prioritizing regulatory actions for homeopathic products posing the greatest risk to patients. The FDA is prioritizing specific categories of drugs, such as those intended for populations at greater risk for adverse reactions. This is expected to drive the North America homeopathy market during the forecast period.
On the contrary, stringent approach by regulatory authorities and shortage of homeopathic facilities & doctors hurdles the growth of North America homeopathy market.
Based on source, the North America homeopathy market is categorized into plants, animals, and minerals. The plants segment held 61.4% market share in 2022, amassing US$ 1,011.37 million. It is projected to garner US$ 3,141.06 million by 2030 to expand at 15.2% CAGR during 2022–2030.
Based on type, the North America homeopathy market is categorized into dilutions, tinctures, biochemics, ointments, tablets, and others. The dilutions segment held 26.4% share of North America homeopathy market in 2022, amassing US$ 434.48 million. It is projected to garner US$ 1,319.09 million by 2030 to expand at 14.9% CAGR during 2022–2030.
Based on application, the North America homeopathy market is categorized into analgesic and antipyretic, respiratory, neurology, immunology, gastroenterology, dermatology, and others. The immunology segment held 23.5% share of North America homeopathy market in 2022, amassing US$ 388.06 million. It is projected to garner US$ 1,249.13 million by 2030 to expand at 15.7% CAGR during 2022–2030.
Based on distribution channel, the North America homeopathy market is categorized into homeopathic clinics, retail pharmacies, e-retailers, and others. The homeopathic clinics segment held 34.7% share of North America homeopathy market in 2022, amassing US$ 572.71 million. It is projected to garner US$ 1,813.36 million by 2030 to expand at 15.5% CAGR during 2022–2030.
Based on country, the North America homeopathy market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 81.5% share of North America homeopathy market in 2022. It was assessed at US$ 1,343.46 million in 2022 and is likely to hit US$ 4,165.93 million by 2030, exhibiting a CAGR of 15.2% during 2022–2030.
Key players operating in the North America homeopathy market are Fourrts; Hahnemann Laboratories, Inc; Boiron; Homeocan Inc; Hyland's, Inc.; Biologische Heilmittel Heel GmbH; DHU-Arzneimittel GmbH & Co. KG; Dr Reckeweg & Co GmbH; and Similasan Corp among others.
- In Dec 2020, Launched FILOFLUE, (Homeopathic Preparation) for treatment of Flu like symptoms.
- In Dec 2020, Haslab launched India's first homeopathy healthcare mobile application in collaboration with 3EA.
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