Report : South and Central America Homeopathy Market Forecast to 2028 - COVID-19 Impact and 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); Distribution Channel (Homeopathic Clinics, Retailers, e-Retailers, and Others)

Plants Segment has the Largest Share of Source in the South and Central America Homeopathy Market during 2021–2028

According to a new market research study on “South and Central America Homeopathy Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Source, Type, Application, and Distribution Channel” is expected to reach US$ 620.9 million by 2028 from US$ 256.8 million in 2021. The market is estimated to grow at a CAGR of 13.4% from 2021 to 2028. The report provides trends prevailing in the South and Central America Homeopathy market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the safety associated with homeopathic products and rise in adoption of homeopathic medicine are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the stringent regulatory approvals.

South and Central America is facing significantly challenging situations due to COVID 19 pandemic. In South America, Brazil, Argentina, Colombia, allow professional doctors who are qualified and have graduated from a recognized medical school to practice homeopathy. Since the beginning of 2020, the COVID-19 pandemic has caused enormous health, social and economic impacts, which are likely to continue in 2021 and beyond. Brazil is the second worst hit country of COVID-19 globally. As per Worldometer, on 15 April 2021, the number reached to 13,758,093 in Brazil. Owing to the rising cases in the country, in last April, in late April, Itajai’s local authorities launched a campaign to distribute the homeopathic remedy Camphora to residents as a protective measure.

The market for homeopathy market is segmented into source, type, application, and distribution channel. Based on source, it is segmented into plants, animals, and minerals. In 2020, the plants segment accounted for the South and Central America homeopathy market's largest market share. Most of the homeopathic remedies are obtained from plants. More than 50% of homeopathic medicines are derived from plants. Medicines are either extracted from the whole plat or parts of plants like bark, flower, roots, leaves and others. Thus, the plants segment is likely to witness rapid growth during the forecast period.

Fourrts, Weleda UK, and Biologische Heilmittel Heel GmbH are among the leading companies in the South and Central America homeopathy market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in December 2020, Fourrts launched FILOFLUE, (Homeopathic Preparation) for treatment of Flu like symptoms. it helps in helps in relieving cough and throat irritation and helps in strengthening the immune system. 

The market for homeopathy market is segmented into source, type, application, and distribution channel. Based on source, the homeopathy market is segmented into plants, animals, and minerals. Based on type, the homeopathy market is segmented into dilutions, tinctures, biochemics, ointments, tablets, and others. Based on application, the homeopathy market is segmented into analgesic and antipyretic, respiratory, neurology, immunology, gastroenterology, dermatology, and others. Based on end user, the homeopathy market is segmented into homeopathic clinics, retailers, e-retailers, and others. Geographically, the homeopathy market is segmented into South and Central America (Brazil, Argentina, Rest of South and Central America).

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