Market Trends of Homeopathy Product Industry
This section covers the major market trends shaping the Homeopathy Product Market according to our research experts:
Dilutions Segment is Expected to Hold a Significant Market Share Over The Forecast Period
Homeopathic dilution is a procedure in which a substance is diluted with alcohol or distilled water and then vigorously shaken. Homeopathic dilutions are used to increase active principles in medicinal plants, detoxify plants, increase plant growth rate and fruit production, improve plant metabolism, and control diseases.
An article published in the National Library of Medicine in June 2021 stated that serially diluted succussed solutions of a suitable drug or toxic substance could exhibit physicochemical and biological characteristics beyond Avogadro's limit. They can show hormesis, and homeopathy uses them as medicines. Many studies have suggested that homeopathic dilutions can have an impact on gene expression differently than controls. Thus, the advantages of homeopathic dilutions are estimated to boost the segment's utility over the forecast period.
Furthermore, according to an article published in Nature Journal in January 2021, a diluted herbal extract used in traditional homeopathic pharmacopeia can induce a change in mRNA expression that can be measured reliably and reproducibly. Thus, the studies showing a significant impact of homeopathic dilutions will increase its adaptability, thus leading to lucrative growth of the market.
Various homeopathic events are conducted worldwide to spread awareness regarding the benefits and scope of homeopathic products. For instance, in September 2022, Dubai hosted the first Homeopathy International Health summit aimed at educating and promoting a homeopathic system of medicine. The summit was organized by Burnett Homeopathy Pvt Limited, a company that deals with homeopathic dilutions, mother tinctures, lower trituration tablets, and many other homeopathic remedies.
Thus, due to the above-mentioned factors, the studied segment is expected to contribute significantly to the market growth during the study period.
Asia-Pacific is the Fastest Growing Region of the Homeopathy Product Market
The Asia-Pacific region experiences the fastest growth in the market due to the rising demand for alternative medicine and increasing awareness of the system.
The region's increasing prevalence of lifestyle diseases like heart disease, stroke, obesity, and type 2 diabetes is boosting the market growth. According to IDF, 74,194.7 people had diabetes in India in 2021, and the number is expected to reach 92,973.7 by 2030. Also, the number of people with diabetes in China was 140,869.6 in 2021, estimated to reach 164,069.5 by 2030. The high burden of diabetes in the region is projected to boost the demand for homeopathic products to cure it, thereby propelling the market growth during the forecast period.
In addition, according to the World Obesity Federation, India is expected to have over 27 million children with obesity by 2030. Childhood obesity is a growing public health concern in low and middle-income countries where early prevention is critical. Since anti-obesity medications have many adverse reactions like diarrhea, fecal incontinence, oily spotting, flatulence, bloating, dyspepsia, and the high cost of drugs. The adverse effects of allopathic medicines increase the inclination towards homeopathy, which is expected to propel market growth.
Furthermore, the launch of homeopathy services in the region will also propel market growth. For instance, in April 2022, the state government of Pune launched Outdoor Patient Department (OPD) services for homeopathy medicine in state-run rural government hospitals. This will also ensure that more homeopathic doctors are recruited in government hospitals. Additionally, in May 2022, Regional Research Institute (Homeopathy) Guwahati started the three-year (2022-2025) 'Homeopathy for School Health Programme' at various government schools in Guwahati. This will increase awareness regarding the advantages and scope of homeopathy products in lower primary schools so that more and more children get benefitted. Thus, the increasing awareness of homeopathic medicine across the regions will drive market growth.
Thus, the rising burden of chronic diseases in the region and the launch of homeopathy services will further boost the market growth.
