North America Homeopathy Market Growth and Forecast by 2028
Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028North 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)
- Report Date : Sep 2021
- Report Code : TIPRE00024765
- Category : Life Sciences
- Status : Published
- Available Report Formats :
- No. of Pages : 120
The homeopathy market in North America is expected to grow from US$ 1,438.8 million in 2021 to US$ 3,780.1 million by 2028; it is estimated to grow at a CAGR of 14.8% from 2021 to 2028.
Homeopathy is a systematic medicinal science with distinct advantages over other medical systems. When administering a treatment, it considers the whole individual, his/her psychological and physical makeup, as well as the disease's entire progression. Homeopathic medicines in high dilutions, prescribed by skilled professionals, are probably safe and not likely to cause severe side effects. One of the stated reasons for the acceptance of homeopathy among patients is that it shows minimal, or no side effects compared with several conventional drugs. Hence, safety and less risk of adverse side effects related to homeopathic medications are accountable for driving the homeopathic market.Consumer demand for alternative therapy is increasing as customers are becoming aware of better immune health. Consumer are spending across a multitude of categories, one of them is homeopathy. Consumer demand for homeopathy medicine have increased as interest in overall health and wellness has grown. Moreover, with the increasing cases of COVID-19, The American Institute of Homeopathy (AIH) hosted a two-hour international web conference on the homeopathic treatment of patients with COVID-19 in March 2021. Health Canada regulates homeopathic products and reviews homeopathic products to make sure that they are safe. Initially, homeopathic products were not widely available in stores; now, many homeopathic products are available in stores. Non-prescription drugs such as pain relievers, allergy medications, and cold and flu medications are widely available for consumers. Also, governments have been distributing the homeopathy medicines due to rising cases of COVID-19. For instance, the Cuban government distributed homeopathic remedy PrevengHo-Vir to the elderly and other vulnerable people to “prevent” the spread of the disease. Owing to increasing cases of COVID-19, the demand for immunity booster products have increased in the region.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the homeopathy market. The North America homeopathy market is expected to grow at a good CAGR during the forecast period.
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
North America Homeopathy Market Segmentation
By Source
- Plants
- Animals
- Minerals
By Type
- Dilutions
- Tinctures
- Biochemics
- Ointments
- Tablets
- Others
By Application
- Analgesic and Antipyretic
- Respiratory
- Neurology
- Immunology
- Gastroenterology
- Dermatology
- Others
By Distribution Channel
- Homeopathic Clinics
- Retailers
- e-Retailers
- Others
By Country
- North America
- US
- Canada
- Mexico
Companies Mentioned
- Fourrts
- Hahnemann Laboratories, Inc.
- Boiron
- Homeocan Inc.
- Hyland's, Inc.
- Nelson Pharmacies Limited
- Weleda UK
- Biologische Heilmittel Heel GmbH
North America Homeopathy Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,438.8 Million |
| Market Size by 2028 | US$ 3,780.1 Million |
| Global CAGR (2021 - 2028) | 14.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Source
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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- Fourrts
- Hahnemann Laboratories, Inc.
- Boiron
- Homeocan Inc.
- Hyland's, Inc.
- Nelson Pharmacies Limited
- Weleda UK
- Biologische Heilmittel Heel GmbH
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